When a Company Is Setting Up Its Accounting Information System

question 34

Multiple Choice

When a company is setting up its accounting information system, it is important for management to select:

• A)A standard set of computer control mechanisms
• B)Only those controls which appear to serve its needs
• C)Controls whose benefits exceed their costs
• D)b and c only

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Definitions:

Federal Law

Legislation enacted by the national government of a country.

Judgment Debts

Money that a court has ordered one party to pay another party as a result of a legal judgment.

Property Taxes

Taxes imposed by local governments on real estate based on the property's assessed value, used to fund public services.

Assessments

Evaluations or appraisals to determine the value, performance, or condition of something, often used in educational, professional, or property contexts.