Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 11, Problem 21.1MCQ
To determine
Identify the advantage of a computer-based system for transaction processing over a manual system.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Revenue Cycle.
Discuss how the nature of the necessary internal control features is affected by switching
from a manual system to a large-scale computer-based accounting system.
а.
Is there a difference between computerized and manual accounting systems? What makes these two different?
What types of unique control problems are created by the use of PC accounting systems?
Chapter 11 Solutions
Auditing And Assurance Services
Ch. 11 - Prob. 1RQCh. 11 - Prob. 2RQCh. 11 - Prob. 3RQCh. 11 - Prob. 4RQCh. 11 - Prob. 5RQCh. 11 - Prob. 6RQCh. 11 - Prob. 7RQCh. 11 - Prob. 8RQCh. 11 - Prob. 9RQCh. 11 - Prob. 10RQ
Ch. 11 - Prob. 11RQCh. 11 - Prob. 12RQCh. 11 - Prob. 13RQCh. 11 - Prob. 14RQCh. 11 - Prob. 15RQCh. 11 - Prob. 16RQCh. 11 - Prob. 17RQCh. 11 - Prob. 18RQCh. 11 - Prob. 19RQCh. 11 - Prob. 20.1MCQCh. 11 - Actions, policies, and procedures that reflect the...Ch. 11 - Prob. 20.3MCQCh. 11 - Prob. 21.1MCQCh. 11 - Prob. 21.2MCQCh. 11 - Prob. 21.3MCQCh. 11 - Prob. 22.1MCQCh. 11 - Prob. 22.2MCQCh. 11 - Which of the following correctly describes an...Ch. 11 - Prob. 23DQPCh. 11 - Prob. 24DQPCh. 11 - The following are misstatements that have occurred...Ch. 11 - Prob. 26DQPCh. 11 - Prob. 27DQPCh. 11 - Prob. 28DQPCh. 11 - Prob. 29DQPCh. 11 - Prob. 30DQPCh. 11 - Prob. 31DQPCh. 11 - Prob. 32C
Knowledge Booster
Similar questions
- Computer accounting control procedures are referred to as general or application controls. The primary objective of application controls in a computer environment is toa. ensure that the computer system operates efficiently.b. ensure the validity, completeness, and accuracy of financial transactions.c. provide controls over the electronic functioning of the hardware.d. plan for the protection of the facilities and backup for the systems.arrow_forwardWhich of the following assets require the strongest of internal controls?A. inventoryB. credit cardsC. computer equipmentD. casharrow_forwardIdentify risks for accounting systems that rely heavily on IT functions.arrow_forward
- What is a computerized accounting system? Write its advantages and disadvantages?arrow_forwardWhat cause Fraud in Computerised Accountingarrow_forward1. Which of the following is not an advantage of computerized accounting system? a. Data is entered only once in computerized accounting systems b. Computerized accounting systems provide up-to-date information c. Computerized accounting systems eliminate entering of transaction information d. Computerized accounting systems eliminate many errors resulting from human intervention 2. Which of the following is incorrect regarding subsidiary ledger? a. The accounts receivable ledger is a common subsidiary ledger b. An advantage of the subsidiary ledger is that it permits a division of labor in posting c. The purchases ledger is a common subsidiary ledger for creditor accounts d. A subsidiary ledger is a group of accounts with common characteristics 3. At the beginning of the month, the accounts receivable subsidiary ledger showed balances for Orange $5,000 and Mango $8,000. During the month, credit sales were made to Orange $6,000, Mango $4,500, and Apple $6,500. Cash was collected on…arrow_forward
- 5. During a systems audit, the system performance is compared to Styles Editing VoicE a similar systems b. newer systems Sensutivity c. the design specifications d. competing systems 6. Enterprise resource planning (ERP) represents a The system that integrates financial data with non financial operatiing data. b. The system that integrates only financial aspects of business activities. The system that integrates only non-financial aspects of business activities d. The system that integrates financial aspects of a company's operations with its traditional AIS. C. 7. The components of IT should include: a Software, people, data, and information technology infrastructure, People, procedures, data, and information technology infrastructure. Hardware. software, data, networks, and people. d People, data, IT infrastructure, and internal control measures. Ic.arrow_forwardAccording to R3 CORDA: A DISTRIBUTED LEDGER TECHNOLOGY FOR FINANCIALSERVICES What is a distributed ledger? What is a blockchain? How is a blockchain similar and different from a distributed ledger?arrow_forwardDescribe the differences between auditing around the computer and auditing through the computer? Which one is more effective in a computerized accounting information system? Why?arrow_forward
- Which of the following assets require the strongest of internal controls? Group of answer choices inventory credit cards computer equipment casharrow_forwardWhich of the following assets require the strongest of internal controls? Group of answer choices 1.credit cards 2.computer equipment 3.inventory 4.casharrow_forwardQuestion Please answer all the requirements. Thank you 1. Increasing use of sophisticated EDP systems has produced significant changes in the accounting environment. Some of these changes are the following: a. documents that are used to enter information into the computer may exist for only a short time or only in computer-readable form. In some computer systems, input documents may not exist at all, because information is entered directly into the system. b. Computer processing uniformly subjects like transactions to the same processing instructions. c. Many internal control procedures, once performed by separate individuals in manual systems, may be combined in systems that use computer processing. d. The potential for individuals to gain unauthorized access to data or assets may be greater in computerized accounting systems than in manual systems. Required: For each of the changes, discuss the impact on the internal control system and the independent audit. 2. The CARE Corporation…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
Financial AccountingAccountingISBN:9781305088436Author:Carl Warren, Jim Reeve, Jonathan DuchacPublisher:Cengage Learning
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Financial Accounting
Accounting
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Cengage Learning