Which of the Following Is True

question 25

Multiple Choice

Which of the following is true?

• A)In the CBIS environment, auditors gather evidence relating only to the contents of databases, not the reliability of the computer system.
• B)Conducting an audit is a systematic and logical process that applies to all forms of information systems.
• C)Substantive tests establish whether internal controls are functioning properly.
• D)IT auditors prepare the audit report if the system is computerized.

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Definitions:

AC

Average Cost; the total cost of production divided by the quantity produced, indicating the cost per unit of output.

Monopoly

An economic situation where a sole seller dominates the market by providing a product that has no closely comparable substitutes.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price level and period.

Price

The sum projected, mandated, or allocated in money for acquiring something.