A Computer-Based System That Provides Information and Support for Effective

question 37

True/False

A computer-based system that provides information and support for effective managerial decision making is called a management information system.

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Definitions:

Drawer

In financial transactions, the person who writes or the entity issuing a bill of exchange, cheque, or draft.

Internal Control

Processes designed to provide reasonable assurance regarding the effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws.

Safeguard

Measures or controls put in place to protect assets, including physical security and internal controls.

Signature Card

A document signed by an account holder at a financial institution that provides a specimen signature for the purpose of verifying future transactions.