The Control of Input and Output of Accounting Transactions to and from the Information

question 16

True/False

The control of input and output of accounting transactions to and from the information processing subsystem should be performed by an independent control group.

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Definitions:

Investing

is the act of allocating resources, usually money, with the expectation of generating an income or profit.

Perpetuity

A type of annuity that pays an infinite series of cash flows, with no end date.

Rate Of Return

Earnings or losses experienced by an investment within a chosen period, measured as a percentage of the investment’s purchase cost.

Heirs

Individuals legally entitled to inherit a deceased person's assets.