Which of the Following Is a Disadvantage of Generalized Audit

question 48

Multiple Choice

Which of the following is a disadvantage of generalized audit software?

• A) It cannot be customized for specific tasks.
• B) It requires data to be converted to a format that can be processed by it.
• C) It does support the creation of an audit trail or log.
• D) It requires extensive training to use it effectively.

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Definitions:

Economic Variables

Quantitative measures that represent aspects of the economy or a company and can change over time, such as GDP, inflation rate, and unemployment rate.

Policy Makers

Individuals or groups responsible for making decisions that affect the economy, society, or governance.

Normative Economics

A branch of economics that expresses value judgments about economic fairness or what the economy ought to be like.

Positive Economics

An approach to economics that seeks to understand and explain the economy as it is, based on factual observations without making normative judgments.