Which of the Following Is a Benefit of Using a Computerized

question 47

Multiple Choice

Which of the following is a benefit of using a computerized accounting information system?

• A) The software can accurately measure the intrinsic value of the firm using the built-in simulation techniques.
• B) There is no need to review the financial statements for accuracy.
• C) The software is easy to use and thus no training or financial statement review is necessary.
• D) The software automatically transfers the amounts from the general ledger to the financial statements.

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Definitions:

Inventory Suppliers

These are the entities or individuals from whom a business purchases its inventory, comprising goods intended for sale.

Vendors Section

The part of a business's accounting or procurement software where information about suppliers, including payments and contracts, is managed.

Enter Bills

The act of recording amounts owed for goods and services received but not paid for in the accounting software.

Write Checks

The process of creating a check to pay a specified amount to a payee from the writer’s bank account.