Controls Which Are Designed to Assure That the Information Processed

question 83

Multiple Choice

Controls which are designed to assure that the information processed by the computer is authorized, complete, and accurate are called:

• A)input controls.
• B)processing controls.
• C)output controls.
• D)general controls.

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Definitions:

Business Profit

The financial gain realized when the revenue generated from business activities exceeds the expenses, taxes, and costs associated with sustaining the business operations.

S Corporations

Corporations that elect a special tax status to pass income, losses, deductions, and credit through to their shareholders for federal tax purposes.

Separate Legal Entity

A legal structure that is distinct and independent from its owners, allowing it to own assets, incur liabilities, and enter into contracts.

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership stakes and sometimes rights to dividends and to vote on corporate matters.