Internal Control in Technologically Advanced Accounting Systems Depends More on the Design

question 93

True/False

Internal control in technologically advanced accounting systems depends more on the design and operation of the information system and less on the analysis of its resulting documents.

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Definitions:

Interest Receivable

The amount of interest income that has been earned but not yet received in cash.

Fixed Asset

A long-term tangible piece of property or equipment that a business uses in its operations to generate income.

Balance Sheet

A financial report that outlines a corporation's assets, liabilities, and owner's equity at a particular moment.

Interest Receivable

The amount of interest that has been earned but not yet received in cash.