How Many of These Are Important Considerations When Developing a New

question 34

Multiple Choice

How many of these are important considerations when developing a new accounting system or expanding an existing system?
Compatibility with the type of business
Flexibility/adaptability
Only fully understandable by senior managers
Adequacy of built-in controls

• A) 1
• B) 2
• C) 3
• D) 4

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Definitions:

Two-Month Intervals

Time periods that occur or are calculated every two months.

Floating Rate

An interest rate that changes over time with the market or along with another interest rate index.

Interest

The expense incurred from borrowing funds or the income earned by lending funds, typically represented as a percentage of the principal amount.

Declined

Refers to a decrease in quantity, quality, or importance of something.