Which of the following statements is incorrect?
A) A major consideration in developing an accounting system is cost effectiveness.
B) When an accounting system is designed no consideration needs to be given to the needs and knowledge of the various users.
C) The accounting system should be able to accommodate a variety of users and changing information needs.
D) To be useful information must be understandable relevant reliable timely and accurate.

Question

Quizplus · Accepted Answer

When designing an accounting system, consideration must be given to the needs and knowledge of the various users. Ignoring their needs and knowledge could result in an ineffective system that fails to meet the needs of the organization.

Which of the Following Statements Is Incorrect