To Maintain a Balance Between Costs and Benefits, It Is

question 145

True/False

To maintain a balance between costs and benefits, it is advised that managers generally add storage, applications and/or databases to the Information System on an "as needed" basis.

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Definitions:

Cash Payments Journal

An accounting journal used to record all cash payments made by a company, including expenses and debtor payments.

Control Account Balance

Refers to the total balance in a general ledger account that summarizes the balances of subsidiary ledger accounts.

Subsidiary Ledger

A ledger containing the details to support a summary line item in the General Ledger, such as accounts receivable or accounts payable.

General Ledger

A comprehensive set of accounts that records all financial transactions of a business and is used to prepare financial statements.