Which of the Following Is a Possible Benefit of Using

question 24

Multiple Choice

Which of the following is a possible benefit of using information systems technology in the conduct of an audit?

• A) Increased independence from information systems personnel
• B) Elimination of most manual calculations, footing, and cross-footing
• C) Standardization of audit working papers and correspondence
• D) All of these answers are correct.

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Definitions:

Individual Assets

Distinct items of property or investments owned by individuals, such as stocks, bonds, real estate, or personal property.

Utility Function

A mathematical representation in economics of a consumer's preference ordering over a set of goods or outcomes.

Risk-Free Asset

An asset with a certain rate of return; often taken to be short-term T-bills.

Indifference Curve

A graphical representation in microeconomics showing different combinations of two goods that provide an individual with the same level of satisfaction or utility.