In the General Ledger and Financial Reporting Cycle

question 40

Multiple Choice

In the general ledger and financial reporting cycle:

• A)Adjusting journal entries does not have to be authorised independently.
• B)Reports must not contain irrelevant data.
• C)Data should not be transferred amongst accounts.
• D)Data need not be validated.

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Definitions:

Daily Tasks

Routine activities that are performed on a regular basis as part of the operation of an organization or the functions of a job.

Temporary Teams

Groups formed for a limited period of time to achieve a specific goal, after which the team disbands.

Network Structure

is an organizational model characterized by less hierarchical and more flexibly interconnected groups or division.

Information Technology

The use of computers, networks, and other physical devices to store, process, and exchange data.