Independent Testers Are Critical in Testing Information Systems Mainly Because

question 35

Multiple Choice

Independent testers are critical in testing information systems mainly because ________.

• A)programmers are inept at testing their own code
• B)programmers are generally too busy to test their codes
• C)federal law mandates third-party feedback before a system is approved by an organization
• D)most state laws mandate third-party feedback before a system is approved by an organization

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Definitions:

Fair Value

Amount for which a security could be sold in a normal market.

Trading Securities

Securities bought and held primarily for sale in the near term to generate income on short-term price differences.

Unrealized Gain

The increase in value of an asset that has not been sold yet, therefore the gain is not reflected in the income statement.

Consolidated Financial Statements

Financial statements that present the assets and liabilities controlled by the parent company and the total revenues and expenses of the subsidiary companies.