Inaccurate Recording and Processing of Production Activities Can Diminish the Overall

question 70

Multiple Choice

Inaccurate recording and processing of production activities can diminish the overall effectiveness of production operations.One of the application controls that can help to ensure accounting records are accurate is to restrict the rights of authorized users only to the portion of the database needed to complete job duties.What specific control can help achieve this objective?

• A)an access control matrix
• B)passwords and user IDs
• C)closed-loop verification
• D)bar-code scanners

---

Definitions:

Opportunity Cost

Opportunity cost represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Marginal Product

The additional output resulting from using one more unit of a particular input, holding other inputs constant.

Value of the Marginal Product

The additional revenue generated by employing one more unit of a factor, such as labor or capital.

Profit-Maximizing

A strategy or process by which a business seeks to generate the highest possible profit from its operations.