The Use of IT Resources for Enterprise Systems and E-Business

question 98

Multiple Choice

The use of IT resources for enterprise systems and e-business:

• A) magnifies the importance of protecting the resources both within and outside of the organization from risks
• B) magnifies the importance of protecting the resources both within but not outside the of the organization from risks
• C) makes it easier to provide internal control risk when IT resources are interlinked
• D) none of the above

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Definitions:

Sales Returns

are goods returned by customers to the seller for a refund or credit, representing a reversal of sales previously recorded.

Journal Entry

A record in the books of accounts that reflects the details of a financial transaction, including the accounts affected, date, and amounts.

Gross Accounts Receivable Approach

A method that estimates the total amount to be received from customers, without deducting expected bad debts.

Unadjusted Year End

The fiscal year-end date prior to any adjustments made for accounting purposes.