One Potential Disadvantage of IT Systems Is the Reduction or Elimination

question 45

True/False

One potential disadvantage of IT systems is the reduction or elimination of source documents, which reduces the visibility of the audit trail.

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Definitions:

Interstate Commerce Act

A United States federal law that was designed to regulate the railroad industry and its monopolistic practices by requiring reasonable and just rates with no discrimination.

Sherman Anti-Trust Act

A landmark federal statute in the United States passed in 1890 that prohibits monopolistic business practices and promotes competition in the marketplace.

Restraint of Trade

Legal terminology referring to practices or agreements that restrict competition, often regulated to protect economic fairness.

Holding Companies

Corporations that own a controlling stake in one or more other companies, managing them but not typically engaged in their daily operations.