1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
expeople1 [14]
3 years ago
14

"Auditors should be familiar with the terminology employed in IT processing. The following statements contain some of the termin

ology so employed. Indicate whether each statement is true or false"
a. A recent improvement in computer hardware is the ability to automatically produce error listings. Previously, this was possible only when provisions for such a report were included in the program.
b. The control of input and output to and from the information systems department should be performed by an independent data control group.
c. An internal-audit computer program that continuously monitors IT processing is a feasible approach for improving internal control in OLRT systems.
d. An internal label is one of the controls built into magnetic tape drive hardware by the hardware manufacturers.
e. A limit test in a computer program is comparable to a decision that an individual makes in a manual system to judge a transaction's reasonableness.
f. A principal advantage of using magnetic tape files is that data need not be recorded sequentially.
g. A major advantage of disk files is the ability to gain random access to data on the disk.
h. The term grandfather-father-son refers to a method of protecting computer records rather than to generations in the evolution of computer hardware.
i. When they are not in use, tape and disk files should be stored apart from the computer room under the control of a librarian.
Business
1 answer:
mr Goodwill [35]3 years ago
3 0

Answer:

Explanation:

Step 1:

the auditor is required to provide reasonable assurance for the financial statement audited.To provide such reasonable assurance,appropriate evidence must be obtained to confirm that no material misstatement material is present in the financial statement

Step 2:

For each statement select true or false in the following manner

a. A recent improvement in computer hardware is the ability to automatically produce error listings. Previously, this was possible only when provisions for such a report were included in the program.

FALSE

b. The control of input and output to and from the information systems department should be performed by an independent data control group.

TRUE

c. An internal-audit computer program that continuously monitors IT processing is a feasible approach for improving internal control in OLRT systems.

TRUE

d. An internal label is one of the controls built into magnetic tape drive hardware by the hardware manufacturers.

FALSE

e. A limit test in a computer program is comparable to a decision that an individual makes in a manual system to judge a transaction's reasonableness.

TRUE

f. A principal advantage of using magnetic tape files is that data need not be recorded sequentially.

FALSE

g. A major advantage of disk files is the ability to gain random access to data on the disk.

TRUE

h. The term grandfather-father-son refers to a method of protecting computer records rather than to generations in the evolution of computer hardware.

TRUE

i. When they are not in use, tape and disk files should be stored apart from the computer room under the control of a librarian.

TRUE

You might be interested in
Suppose the value of the Mexican peso depreciates relative to the US dollar. How would this benefit people in the United States
Agata [3.3K]
United States because it would help them
8 0
2 years ago
Farmer Brown’s total cost curve is a. increasing at an increasing rate. b. increasing at a decreasing rate. c. increasing at a c
Rufina [12.5K]

The question is incomplete:

If Farmer Brown plants no seeds on his farm, he gets no harvest. If he plants 1 bag of seeds, he gets 5 bushels of wheat. If he plants 2 bags, he gets 9 bushels. If he plants 3 bags, he gets 12 bushels. A bag of seeds costs $120, and seeds are his only cost.

Farmer Brown's total-cost curve is

a. increasing at an increasing rate.

b. increasing at a decreasing rate.

c. increasing at a constant rate.

d. decreasing.

Answer:

a. increasing at an increasing rate.

Explanation:

To determine the answer, you can create a graph with the information given hich is attached.

You can see that the curve is increasing and because of that you can eliminate option d that is decreasing. Then, you have to consider that increasing at a constant rate would show an straight line which is not the case. Also, increasing at a decreasing rate would show a decreasing slope which is not what you see in the graph. Because of that, the answer is that Farmer Brown’s total cost curve is increasing at an increasing rate because the graphs shows an increasing slope.

8 0
3 years ago
Most art and antiques are _____, and the transaction costs are ____ compared to those of financial assets.
iVinArrow [24]

Most art and antiques are <u>illiquid</u> and the transaction costs are <u>high</u> compared to those of financial assets.

"in addition to online services and SERPs, it's far feasible to find out how a great deal your antiques are worth by means of simply asking a vintage dealer or an appraiser at a public sale house, for example," Martin says.

In quick, vintage is a hundred years older, while antique is younger, although commonly nonetheless prior to 1999. it's a rather easy difference, but not necessarily as important as you watched it might be. The age of a chunk doesn'tdirectly correlates to price.

A real leather-based jacket from the Nineteen Forties could be taken into consideration as antique garb. Dictionary.com offers several definitions of the phrase antique: “of or belonging to the beyond; now not modern;” “relationship from a long ago;” and “noting or bearing on cars about 25 years vintage or more.”

Learn more about antique here brainly.com/question/1475385

#SPJ4

5 0
1 year ago
Jasper makes a $31,000, 90-day, 6.5% cash loan to Clayborn Co. The amount of interest that Jasper will collect on the loan is:__
pochemuha

Answer:

the amount of interest that is collected is $503.75

Explanation:

The computation of the amount of interest that is collected is shown below:

= Cash loan × number of days ÷ total number of days × rate of interest

= $31,000 × 90 days ÷ 360 days × 6.5%

= $503.75

Hence, the amount of interest that is collected is $503.75

This is the answer but the same is not provided in the given options

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0
2 years ago
Meir, Benson and Lau are partners and share income and loss in a 3:2:5 ratio. The partnership's capital balances are as follows:
sertanlavr [38]

Answer:

Journal Entry

a) Debit Capital- Benson $138,000 Credit Capital-North $138,000

b) Debit Capital- Benson $138,000 Credit Capital-Schmidt $138,000

c) Debit Capital-Benson $138,000 Credit Bank $138,000

d) Debit Capital-Benson $138,000 Debit Capital-Meir $28,500 Debit Capital-Lau $47,500 Credit Bank $214,000

e) Debit Capital-Benson $138,000 Debit Accumulated Depreciation $23,000 Credit Cash $30,000 Credit Equipment $70,000 Credit Capital-Meir $22,875 Credit Capital-Lau $38,125

Explanation:

a and b are the same with the same amount of capital transferred from one partner to another partner, it is just a matter of derecognizing Benson and recognize North or Schmidt.

c) Partner Benson is paid cash her capital,

d) decrease in meir's Capital = 214,000-138,000 = 76,000*3/8= $28,500

   Decrease in Lau's Capital Account = $76,000 5/8 = 47,500

Excess funds are taken from capitals or income summary account of the partnership which will affect the capitals of the remaining partners

e)  Meir's Capital = $138,000 -(70,000-23,000+30,000)

                            = $138,000-77,000

                           = $61,000*3/8 =$22,875

Lau = $61,000*5/8 =38,125

The Capital Accounts of the remaining partners will increase because of the gain made on buying out the leaving partner.

8 0
3 years ago
Other questions:
  • Pico, a famous chef, agrees to give ten culinary les-sons to rhoda in exchange for $1,200. pico's attempt to transfer his contra
    14·2 answers
  • Smooth Fusion Inc. is a software company, which has built and acquired numerous assets over the years. According to the resource
    5·1 answer
  • Sales total 50,000 units a year. The statues are finished either rough or polished, with an average demand of 60% rough and 40%
    5·1 answer
  • According to Duffy-Deno (2003), when the price of broadband access capacity (the amount of information one can send over an Inte
    7·1 answer
  • Assume that you live in a simple economy in which only three goods are produced and​ traded: cashews,​ pecans, and almonds. supp
    13·1 answer
  • Project Year 0 Cash Flow Year 1 Cash Flow Year 2 Cash Flow Year 3 Cash Flow Year 4 Cash Flow Discount Rate A -100 40 50 60 N/A .
    15·1 answer
  • Is debtors control a current asset, owners equity, income or current liability
    5·1 answer
  • This is the basis of most sauces:
    10·1 answer
  • Colfax Corporation's financial statements for the current year include the following: Income from continuing operations before t
    5·1 answer
  • Suppose that an Exxon Mobil bond has a return of ​% half the time and ​% the other half. The expected return on this bond is   
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!