Control, Competency, Compatibility, Flexibility and Cost-Benefit Are the Five Basic

question 59

True/False

Control, competency, compatibility, flexibility and cost-benefit are the five basic principles of accounting information systems.

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Definitions:

Workweek

The standard number of working hours or days that constitutes a full week of work for an employee.

Progressive Income Tax

A tax system where the tax rate increases as the taxable amount of income increases, placing a higher tax burden on high-income earners.

Taxable Income

Taxable income is the amount of income that is subject to income tax, after deductions and exemptions.

Percent

A method of representing a number as a part of 100.