The Primary Function of Controls for a Computerized Accounting Information

question 92

True/False

The primary function of controls for a computerized accounting information system is to detect computer fraud.

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Definitions:

Credit Sales

Sales made by a business where payment is delayed, as opposed to cash sales where payment is immediate.

Cash Receipts Journal

An accounting ledger that tracks all cash inflows or receipts of a business over a period.

Debit To Cash

An accounting entry that increases the cash balance in the company's ledger.

Collections From Customers

The process of receiving payments from customers for goods or services provided or sold.