In Addition to Testing System Documentation, Auditors Should Test the Three

question 10

Multiple Choice

In addition to testing system documentation, auditors should test the three main functions of computer applications.Which of the following is not one of these functions?

• A)Output
• B)Input
• C)Processing
• D)Data storage

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Definitions:

Financial Lease

A type of lease in which the lessee has use of the asset for most of its useful life and the lease payments cover the full cost of the asset, effectively transferring the risks and rewards of ownership.

Financial Lease

A type of lease in which the lessee has use of the asset for most of its useful life, and the lease payments are designed to cover the lessor's purchase costs and provide a profit.

Lessor

The group that provides a property or asset for lease to another group, identified as the lessee.

Nonrecourse Basis

Nonrecourse Basis refers to a type of financing or lending where the borrower is not personally liable beyond the collateral for the loan.