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Match Each Situation to the Accounting Information

Question 173

Matching

Match each situation to the accounting information

Premises:

Responses:

Global Company has designed their accounting information system so that key managers can obtain the information they need to make decisions relating to new products, sales and controlling costs

Flexibility

Global Company's accounting information system has policies to ensure that financial statements will be reliable, assets are protected and relevant laws and regulations are complied with

Compatibility

Global Company's accounting information system can be improved markedly for a cost of about $30,000,000. However, the incremental benefits from such improvements are not expected to outweigh this cost

Control

Global Company has world-wide operations that must handle several thousand different products, so the accounting information system is fairly complex, encompassing marketing and manufacturing

Cost-benefit

Global Company has designed their accounting information system to be adaptable to changes in technology, the business environment, the needs of decision makers

Relevance

Premises:

Global Company has designed their accounting information system so that key managers can obtain the information they need to make decisions relating to new products, sales and controlling costs

Global Company's accounting information system has policies to ensure that financial statements will be reliable, assets are protected and relevant laws and regulations are complied with

Global Company has world-wide operations that must handle several thousand different products, so the accounting information system is fairly complex, encompassing marketing and manufacturing

Global Company has designed their accounting information system to be adaptable to changes in technology, the business environment, the needs of decision makers

Responses:

Flexibility

Compatibility

Control

Cost-benefit

Relevance

Correct Answer:

Premises:

Responses:

Global Company has designed their accounting information system so that key managers can obtain the information they need to make decisions relating to new products, sales and controlling costs

Global Company's accounting information system has policies to ensure that financial statements will be reliable, assets are protected and relevant laws and regulations are complied with

Global Company has world-wide operations that must handle several thousand different products, so the accounting information system is fairly complex, encompassing marketing and manufacturing

Global Company has designed their accounting information system to be adaptable to changes in technology, the business environment, the needs of decision makers

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