Define general controls
General controls apply to all systems. They are not application specific. General controls include controls over IT governance, the IT infrastructure, security and access to operating systems and databases, application acquisition and development, and program changes.
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A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as
a. a domestic subsidy. b. an export subsidy. c. an import quota. d. an export quota.
Exhibit 22-3 Katrina Company acquired a truck on January 1, 2016, for $140,000. The truck had an estimated useful life of five years with no salvage value. Katrina used straight-line depreciation for the truck. On January 1, 2017, Katrina revises the estimated useful life of the truck. Katrina made the accounting change in 2017 to reflect the extended useful life. ? Refer to Exhibit 22-3. If
the revised estimated useful life of the truck is a total of seven years, and assuming an income tax rate of 35%, what is the amount of the prior-years effect that Katrina should report in its 2017 income statement as a result of changing the useful life of the truck? A) $0 B) $5,600 C) $16,800 D) $58,800
Hesson Properties, Inc Transactions for Hesson Properties are provided below. Nov. 1 Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson's property, plant, and equipment records. Payment is due in 30 days. Nov. 8 Hesson accepts $75 of advance payments from customers for services to be provided in December. Nov. 15 Hesson receives the utility bill for
$150. Payment is due in 30 days. Nov. 20 Customers are billed $750 by Hesson for property services. Payment is due from the customers in 30 days. Nov. 30 Hesson received $500 from customers who were billed on November 20th. Refer to the transactions that occurred at Hesson Properties. Based on these transactions, what is the journal entry to record the November 30th transaction? A) Cash 500Accounts Receivable 500 B) Accounts Receivable 500Service Revenue 500 C) Accounts Payable 500Cash 500 D) Service Revenue 500Cash 500
The majority of defined benefit plans calculate average earnings over the last ________ years of service for a prospective retiree.
A. 3 to 5 B. 7 to 9 C. 6 to 8 D. 2 to 4