Which statement is not true?
a. An audit objective for systems maintenance is to detect unauthorized access to application databases.
b. An audit objective for systems maintenance is to ensure that applications are free from errors.
c. An audit objective for systems maintenance is to verify that user requests for maintenance reconcile to program version numbers.
d. An audit objective for systems maintenance is to ensure that the production libraries are protected from unauthorized access.
A
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The method of distributing service department costs to production departments which makes no attempt to determine the extent to which one service department renders its services to another department is the:
a. Direct distribution method. b. Sequential distribution method. c. Service department distribution method. d. Reciprocal method.
The federal government grants patents for
a. 10 years. b. 20 years. c. 40 years. d. the useful life of the patent.
A potential investor can easily ascertain market value of common equity for a given publicly traded firm by looking up the most recent share price (as reported in various online services) and then multiplying this share price times the number of common shares outstanding, as reported on the balance sheet
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
Events are economic occurrences that require accounting entries.