The Use of Computers in Processing Accounting Data

question 27

Multiple Choice

The use of computers in processing accounting data

• A) eliminates the need for accountants.
• B) eliminates the double entry system as a basis for analyzing transactions.
• C) eliminates the need for financial reporting standards such as those promulgated by the FASB.
• D) may result in the elimination of document trails used to verify accounting records.

---

Definitions:

Order or Estate

Historical classifications of society, especially in pre-modern Europe, divided into broad groups such as the clergy, the nobility, and common people.

Birth

The process of being born, marking the beginning of a new life outside the mother's womb.

Land Ownership

The legal or rightful possession of land, which includes the right to use, rent, sell, or bequeath it.

Enclosure

The process of converting shared or communal lands into individually owned property, often associated with agricultural changes in Britain.