In Regards to a Company Using a Computerized Accounting System

question 187

Multiple Choice

In regards to a company using a computerized accounting system, which of the following statements is incorrect?

• A) Closing entries are completed in a matter of seconds.
• B) The accountant must manually prepare the closing entries.
• C) The software identifies the temporary accounts.
• D) The Retained Earnings balance is up-to-date.

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Definitions:

Cultural Diffusion

The process by which cultural beliefs, practices, and items spread from one society or culture to another.

Technological Determinism

The theory that technology is the principal factor driving societal changes and shaping societal structure and cultural values.

Globalization

The cultural and economic changes resulting from dramatically increased international trade and exchange in the late twentieth and early twenty-first centuries.

Cultural Diffusion

The spread of cultural beliefs and social activities from one group to another, often leading to cultural assimilation or changes.