COGNITIVE ASSESSMENT Which of the Following Describes an Information System

question 110

Multiple Choice

COGNITIVE ASSESSMENT Which of the following describes an information system?

• A) a network of computers that enables the transfer of information from one computer to another, such as the Internet
• B) a collection of hardware, software, data, people, and procedures that work together to produce quality information
• C) a group of data professionals who work together to enhance communications systems
• D) a series of activities such as analysis and design in the process of distributing information on a large scale

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Definitions:

Liability

A financial obligation of a business that it is required to repay in the future.

Owner's Equity

The residual interest in the assets of an entity after deducting liabilities, representing what the owners own outright in the company.

International Standards

Guidelines and specifications established to ensure consistency and quality in products, services, and processes worldwide.

IASB

Stands for the International Accounting Standards Board, which is an independent, private-sector body that develops and approves International Financial Reporting Standards (IFRS).