Information Storage Databases

question 69

Multiple Choice

Information storage databases:

• A) Capture information from source documents.
• B) Are relied on by auditors of the financial statements.
• C) Need not be accessible once data is processed.
• D) Should not be cloud based.
• E) Eliminate the need for professional judgment.

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Definitions:

Percent Equivalent

The numeric representation of a ratio or fraction as a part of 100.

Fraction

A numerical quantity that is not a whole number, represented by two numbers divided by a line, indicating part of a whole.

Decimal Equivalent

The number obtained by dividing the numerator by the denominator in a fraction, expressed in decimal form.

Percent Equivalent

A way to express a number as a fraction of 100, commonly used to compare proportions.