When Integrating IT into Accounting Systems, Which of the Following

question 24

Multiple Choice

When integrating IT into accounting systems, which of the following would enhance internal control?

• A) computer controls replacing manual ones
• B) higher quality information
• C) both A and B
• D) none of the above

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Definitions:

Accounts Payable

Money owed by a business to its suppliers or creditors for goods and services purchased on credit.

Cost of Goods Sold

Represents the direct costs attributable to the production of goods sold by a company, including material and labor costs.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or sold but not yet paid for.

Triple Bottom Line

A framework that encourages companies to focus on social, environmental, and financial performance metrics equally.