During Systems Implementation, "Converting Computer Files" Is Only Necessary If

question 87

True/False

During systems implementation, "converting computer files" is only necessary if the files are currently in manual formats.

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Definitions:

Accounting Estimate

An approximation of a monetary amount in the absence of a precise means of measurement.

Accounting Entities

Organizations or business units considered separate from their owners for accounting purposes.

Prospective

Relating to or effective in the future, often used in planning and forecasting scenarios.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.