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:

Redefine

To define again or differently, often in a way that reinterprets or gives new perspective to something.

Adaptability

The ability to adjust to new conditions or environments.

Separation

Separation involves the act or process of moving apart or forcing something apart, often applied to relationships, materials, or chemical elements.

Maturity

The state of being fully developed in body or mind, often associated with adulthood and the ability to respond to situations in an appropriate and responsible manner.