Why should the tasks of systems development and maintenance be segregated from operations?
The segregation of systems development (both new systems development and maintenance) and operations activities is of the greatest importance. Systems development and maintenance professionals acquire (by in-house development and purchase) and maintain systems for users. Operations staff should run these systems and have no involvement in their design and implementation. Consolidating these functions invites fraud. With detailed knowledge of an application's logic and control parameters along with access to the computer operations, an individual could make unauthorized changes to application logic during execution. Such changes may be temporary (on the fly.) and will disappear with little or no trace when the application terminates.
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When purchases of merchandise are made on account and the perpetual method is used, the transaction would be recorded with the following entry: ________
a. debit Merchandise Inventory, credit Accounts Payable b. debit Accounts Payable, credit Merchandise Inventory c. debit Purchases, credit Sales d. debit Merchandise Inventory, credit Cash
If the volume of sales is $6,000,000 and sales at the break-even point amount to $4,800,000, the margin of safety is 25%
Indicate whether the statement is true or false
A person's self-talk that takes place within the person is referred to as interpersonal communication
Indicate whether the statement is true or false
State the schedules that must be submitted by an individual debtor filing a voluntary petition
What will be an ideal response?