The General Ledger System of an Organization Should Be Designed

question 54

Multiple Choice

The general ledger system of an organization should be designed to serve the information requirements of both internal and external users.This means that the system should support

• A)producing expansive regular periodic reports to cover all information needs.
• B)the real-time inquiry needs of all users.
• C)producing regular periodic reports and respond to real-time inquiry needs.
• D)access by investors and creditors of the organization to general ledger balances.

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Definitions:

Profit-maximizing

The process or strategy of adjusting production and sale levels to achieve the highest possible profit.

Communications Network

A system of interconnected digital or analog devices and channels used for the purpose of exchanging information.

Willingness to Pay

The maximum amount an individual is ready to sacrifice to acquire a good or service or to avoid something undesirable.

Proportional

A relationship or ratio between two quantities where one is directly proportional to the other.