The Use of Computerized Accounting Systems Has Greatly Reduced the Need

question 49

True/False

The use of computerized accounting systems has greatly reduced the need for private accountants in medium and large-sized firms.

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Definitions:

C Corporation

A corporate legal framework where the taxes of the owners, known as shareholders, are distinct from those of the corporation itself.

Transferable Ownership

The ability to legally transfer the possession or control of something, such as property or shares, from one entity to another.

C Corporation

A legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.

Laws of Inheritance

The principles that govern the passing of traits from one generation to the next through the transmission of genetic information.