A Controller Who Uses a Computer System to Prepare Payroll

question 60

Multiple Choice

A controller who uses a computer system to prepare payroll checks for employees is using a(n) ________ system.

• A) artificial intelligence
• B) group decision support
• C) operations information
• D) transaction-processing

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since its acquisition, representing the cumulative reduction in the asset's value.

GAAP

A set of widely adhered to accounting norms and guidelines for the preparation of financial statements.

Annual Depreciation Expense

The portion of the cost of a fixed asset that is expensed each year over its useful life, reflecting wear and tear, deterioration, or obsolescence.

Double Declining-Balance Depreciation

An accelerated depreciation method that double the rate of straight-line depreciation, decreasing the value of assets more quickly.