After Data Has Been Entered into a Computerized Information System

question 63

True/False

After data has been entered into a computerized information system, it is usually not necessary to correct or update it. That is the benefit of a computerized system-once entered, always correct.

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Definitions:

Discount Rate

The interest rate used to determine the present value of future cash flows in discounted cash flow analysis, reflecting the time value of money and risk.

Financial Balances

Financial balances refer to the comparison and calculation of financial resources, often focusing on the discrepancies between income and expenses or assets and liabilities.

Consolidated Expenses

Expenses that are combined from all subsidiaries and the parent company when preparing consolidated financial statements, providing a holistic view of the entity's operational cost.

Common Stock

A type of equity ownership in a corporation, with voting rights and potential for dividends, representing a share in the company's profits and losses.