Why Are Threats to Accounting Information Systems Increasing

question 88

Multiple Choice

Why are threats to accounting information systems increasing?

• A) Many companies do not realize that data security is crucial to their survival.
• B) LANs and client/server systems are easier to control than centralized, mainframe systems.
• C) Many companies believe that protecting information is a strategic requirement.
• D) Computer control problems are often overestimated and overly emphasized by management.

Prepare and analyze general journal entries related to production activities.

Compute the cost of goods completed and transferred to finished goods.

Reconcile total costs to account for in process cost summaries.

Understand the conceptual foundation and importance of cost accounting systems in both manufacturing and service firms.

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Definitions:

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the cost of producing each additional unit decreases with the increase in total output.

Raise Capital

The process of acquiring funds for business purposes, which can be achieved through various means such as issuing stocks or obtaining loans.

Model Business Corporation Act

A set of model laws prepared by the Committee on Corporate Laws of the American Bar Association to provide a standard for state corporation statutes.

American Bar Association

A large voluntary association of attorneys and law students in the United States which aims to improve the legal profession, set academic standards for law schools, and formulate ethical codes for the legal profession.