What Has Been the Effect on Accountants in Those Organizations

question 57

Multiple Choice

What has been the effect on accountants in those organizations which have computerized their data processing functions?

• A)The need for accountants has disappeared
• B)The accountants have become "pure" bookkeepers
• C)The accountants have become involved in more decision?making activities
• D)The accountants' decision?making activities have drastically declined

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Definitions:

Statement of Financial Position

A financial statement that details an organization's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial health.

Retained Earnings

The portion of a company's profits that are kept or retained rather than distributed to shareholders or used to pay off debt.

Operating Cash Flow

Operating cash flow is the cash generated by a company's regular business operations, reflecting its ability to generate sufficient cash to maintain and grow operations.