The general ledger system of an organization should be designed to serve the information requirements of both internal and external users.This means that the system should support
A)producing expansive regular periodic reports to cover all information needs.
B)the real-time inquiry needs of all users.
C)producing regular periodic reports and respond to real-time inquiry needs.
D)access by investors and creditors of the organization to general ledger balances.

Question

Quizplus · Accepted Answer

The general ledger system should be designed to meet the information needs of both internal and external users, therefore it should be able to produce regular periodic reports and respond to real-time inquiry needs. This choice addresses both needs. However, choice A is too broad and may not be necessary for all users, while choice B only addresses real-time needs and may not provide enough information for periodic reporting. Choice D is also important, but it only addresses one aspect of external user needs (investors and creditors).

The General Ledger System of an Organization Should Be Designed