What Has Been the Effect on Accountants in Those Organizations

question 57

Multiple Choice

What has been the effect on accountants in those organizations which have computerized their data processing functions?

• A)The need for accountants has disappeared
• B)The accountants have become "pure" bookkeepers
• C)The accountants have become involved in more decision?making activities
• D)The accountants' decision?making activities have drastically declined

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Definitions:

Payment Order

A written instruction to a bank or financial institution authorizing the transfer of a specific amount of money from one account to another.

Receiving Bank

A bank that receives transferred funds in a transaction, often in the context of wire transfers or other electronic payments.

Electronic Funds Transfer Act

A U.S. law that protects consumers engaging in electronic transfers, including ATM withdrawals, direct deposits, and transfers initiated through debit card transactions.

Regulatory Statute

Laws designed to govern and regulate specific activities or sectors, aiming to maintain public welfare, safety, and standards.