The Continued Integration of IT in Accounting Systems Can Impact

question 97

Multiple Choice

The continued integration of IT in accounting systems can impact a company by:

• A)increasing the costs of handling a large amount of data.
• B)increasing the number of manual controls needed.
• C)giving management higher-quality information more quickly than a manual system, thus helping management in their decision making process.
• D)decreasing the segregation of duties.

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Definitions:

Merchandise Inventory

The total value of a company's goods that are available for sale, including raw materials, work-in-progress, and finished goods.

Cost Of Merchandise Sold

The total cost to a business of the goods sold to customers, including purchase price and additional expenses related to the sale.

Inventory Shrinkage

The loss of products between procurement and sale, often due to theft, damage, or administrative errors.

Losses Of Inventory

The reduction in the value of goods held for sale, due to theft, deterioration, or obsolescence.