An IT Specialist Is Least Likely to Be Necessary When

question 16

Multiple Choice

An IT specialist is least likely to be necessary when

• A) Data are shared extensively among systems.
• B) The entity participates heavily in electronic commerce.
• C) The system has not changed from the prior year.
• D) Significant audit evidence is in electronic form.

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Definitions:

Net Return

The profit or loss from an investment after all expenses are subtracted from the total income or revenue.

Construction Costs

Expenses incurred in the building of structures, infrastructure, or other forms of real estate projects.

Corporate Bond

A financial security issued by a corporation to raise capital, with the promise to repay the principal along with a specified interest rate to the bondholders.

Interest Rate

The percentage of a loan amount charged by a lender to a borrower for the use of assets, typically expressed as an annual percentage of the principal.