List and describe two features of an effective accounting information system.
What will be an ideal response?
The features of an effective accounting information system are:
1. Control - An accounting information system must provide adequate controls of the business's assets and data. Internal controls can safeguard a business's assets and reduce the likelihood of fraud and errors.
2. Compatibility - A compatible system works smoothly with the business's employees and organizational structure.
3. Flexibility - An accounting information system must be flexible to accommodate changes in a business over time.
4. Relevance - An effective accounting information system provides information that is relevant. In other words, it improves decision making and reduces uncertainty. The information provided must be useful to the business in achieving its overall goals.
5. Positive cost/benefit relationship - Control, compatibility, flexibility, and relevance can be expensive. A business needs a system that gives the most benefit for the least cost. The business must invest only in an accounting information system in which the benefits received outweigh the cost of the system.
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Which of the following is a correct statement relating to the concept of mutual agency and the corporate form of business?
a. There is no mutual agency with the corporate form of business. b. Mutual agency may or may not exist in a corporation, depending on the individual state law. c. Mutual agency always exists in the corporate form of business. d. Mutual agency may or may not exist in a corporation, depending on a vote by the shareholders.
Explain the different segmentation variables used in segmenting consumer markets
What will be an ideal response?
As an employee or potential employee, you should think twice before posting anything online
Indicate whether the statement is true or false
The seven steps in the use of simulation include all EXCEPT which of the following?
A) Define the problem. B) Construct a numerical model. C) Introduce important variables associated with the problem. D) Find the optimal solution. E) Run the experiment.