Control Objectives for Information and Related Technology (COBIT)is Often Used

question 89

Multiple Choice

Control Objectives for Information and related Technology (COBIT) is often used in the ________ stage of the business process management (BPM) cycle.

• A)component creation
• B)implementation
• C)assessment
• D)process modeling

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Definitions:

Allowance Method

An accounting technique used to estimate uncollectible accounts receivable and adjust for bad debts.

Direct Write-Off Method

An accounting practice that involves directly writing off an outstanding receivable if deemed uncollectible, impacting earnings directly.

Adjusting Entry

Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Direct Write-Off Method

An accounting method used to recognize bad debts only when specific receivables are deemed uncollectible, without maintaining an allowance account.