Hide and Seek Has Retail Outlets at Both Large Malls

question 92

Multiple Choice

Hide and Seek has retail outlets at both large malls and small shopping centres. Its accounting information system is able to track total revenues by store, by type of mall, by size of store, by state and by region. This is an example of which feature of a good information accounting system?

• A)compatibility
• B)flexibility
• C)favourable cost- benefit relationship
• D)control

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Definitions:

Defaults

Situations where a party fails to fulfill their obligations as specified in a contract or agreement.

Construction Lien

A claim made against a property by a contractor or subcontractor who has not been paid for work performed or materials supplied.

Building Contract

A legally binding agreement between a property owner and a contractor for the construction or renovation of a building, detailing the work to be done, materials, costs, and timeframes.

Hold Back

The act of withholding part of a payment or benefit until certain conditions are met or to exert control or influence over a situation.