Which of the following types of information systems enables people to communicate, team up, and coordinate with each other?
A) electronic commerce system
B) geographic information system
C) virtualization system
D) intelligent system
E) collaboration system
E
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In terms of a foundation and framework for ethical guidelines, the law:
A) involves maximizing pleasure and minimizing pain B) offers a version of philosophy based on the Golden Rule, which means do unto others what you would have them do unto you C) involves balancing a variety of urges throughout a person's life D) offers guidelines regarding right and wrong as well as what is acceptable and what is not acceptable, within a geographic area
The Bronson Company changed its method of determining inventories from LIFO to FIFO. This change represents a
A) change in accounting estimate that should be treated prospectively. B) change in accounting principle that should be treated prospectively. C) change in accounting estimate for which the financial results of previous years are restated. D) change in accounting principle for which the financial statements of prior periods included for comparative purposes are restated.
Overview of Financial Statement Audit Define auditing and discuss how its components fit into an overview of a financial statement audit
In the rare instance when a par value stock is issued at a cash price below par, the excess of the par value over the amount of cash received should be
A) credited to a liability account. B) debited to the Retained Earnings account. C) debited to an account titled Discount on Capital Stock. D) credited to the Retained Earnings account.