Data Flow Diagrams

question 32

Multiple Choice

Data flow diagrams:

• A)Accomplish the same purpose as system flowcharts
• B)Are different from system flowcharts since they focus on a logical view of the information system
• C)Are useless for planning a new system
• D)Are never used in analyzing an existing system

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Definitions:

Statutory Tax Rate

The official tax rate set by law that companies and individuals must pay on their income.

Deferred Tax Liabilities

Tax liabilities that emerge from the temporary discrepancies between the accounting and tax valuation of assets and liabilities.

Tax Law

Tax law encompasses the rules, policies, and regulations that oversee the tax process for individuals, businesses, and other entities, determining how taxes are calculated, collected, and managed.

Liability Approach

A method in accounting where emphasis is placed on accruing all expected future costs and obligations.