In the Acquisition/payment Process, General Ledger Software Can Strengthen Internal

question 57

Multiple Choice

In the acquisition/payment process, general ledger software can strengthen internal control by:

• A) Requiring purchasing agents to change their passwords every six months.
• B) Assigning a sequential number to each journal entry.
• C) Making it easier for the cash disbursements clerk to complete a bank reconciliation.
• D) Ensuring that document matching policies are enforced.

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Definitions:

Data Centers

Facilities used to house computer systems and associated components, such as telecommunications and storage systems, mainly for the purpose of collecting, storing, processing, distributing, or allowing access to large amounts of data.

Collaborative Consumption

The shared use of a good or service by a group, an economic model often seen in peer-to-peer exchange platforms.

Peer Economy

An economic system that relies on the sharing or exchange of goods, services, or information among individuals or groups, often facilitated by internet platforms.

Human Capital

The collective skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value to an organization or country.