With a Computerised Accounting System, There Is No Need For

question 7

Multiple Choice

With a computerised accounting system, there is no need for:

• A)internal controls.
• B)checks and balances.
• C)updating each subsystem manually.
• D)data backups.

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Definitions:

Compounded Semi-Annually

Involves calculating the addition of interest to the principal sum of a loan or deposit on a half-yearly basis, incrementally increasing the amount earned or owed.

Payment Stream

A series of payments made over a period of time, often in the context of loans or annuities.

Production Units

Quantities of output, such as goods or services, produced within a specified timeframe.

Demand Decrease

A reduction in the quantity of a product or service that consumers are willing and able to purchase at a given price.