9. Statement evaluation. As you learned in the chapter, designing and implementi
ID: 2328456 • Letter: 9
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9. Statement evaluation. As you learned in the chapter, designing and implementing accounting information systems requires judgment and critical thinking. Each chapter will include an exercise like this one to help you develop those skills. Several state- ments related to the material in the chapter are listed below: your job is to explain whcther cach statement is (i) always truc, (ii) sometimes true, or (ii) never true. If you answer (ii), explain when the statement is true. a. Data in an accounting information system are stored electronically, such as on a disk. b. "Truth" is one of the qualitative characteristics identified by the FASB conceptual framework. c. The FASB conceptual framework identifies ten elements of financial statements. d. Information you find on the Internet is reliable e. Cost-effectiveness is an important criterion in the design of accounting information systems. f. A Web site that is under construction" may have a problem with adequate coverage accord- ing to the UMUC information criteria. g. Both internal and external parties can use information provided by the accounting informa- h. Most companies have two different accounting information systems: one for internal use and i. In an AIS, source documents are paper tion system. one for external use. r-based. Problems and questions in accounting information systems are open-cnded: they do not have right" or "wrong" answers.Explanation / Answer
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