Answer the following statements true (T) or false (F)
1. An accounting information system has three basic components: source documents and input devices, processing and storage, and internal controls.
2. An accounting information system creates the structure to encourage adherence to management policies.
3. A business must invest only in an accounting information system in which the benefits received outweigh the cost of the system.
4. Examples of source documents in an accounting information system include the statement of cash flows and sales journal.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
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The Sarbanes-Oxley Act requires that:
A. public corporations disclose whether they have adopted a code of ethics for senior financial officers. B. special committees of the board be assigned special areas of concern. C. directors are provided with lower incentives to ensure their corporations are not breaking the law. D. privately traded corporations have board audit committees comprising only of internal directors.
A company paid $320,000 for equipment that was expected to last five years and to have a salvage value of $40,000. During the third year of the equipment's life, $39,000 cash was paid for replacement parts that were expected to increase productivity by 10% each year. Prepare the journal entry to record the $39,000 cost incurred in the third year.
What will be an ideal response?
The administrative duty is BEST described by:
A) Managing and controlling the activities of the team. B) Gaining access to the necessary resources to ensure a smooth development process. C) The ability to provide leadership for the project team. D) Handling the important executive side of the project.
Individual behavior that makes a positive overall contribution to an organization is called
A. performance behavior. B. positive inducement. C. motivational behavior. D. organizational citizenship. E. perceptive contribution.