Solved

Match the Statement That Has Best Description with Each of the Principles

Question 150

Matching

Match the statement that has best description with each of the principles and phases in the development of an accounting system.

Premises:
Information must be understandable, relevant, reliable, timely, and accurate.
Benefits of information must outweigh the cost of providing it.
The system should accommodate a variety of users and changing information needs.
The accounting system must consider the needs and knowledge of various users.
The system should be capable of meeting the changes in the demands made upon it.
Responses:
Cost effectiveness
Flexibility
Useful output

Correct Answer:

Information must be understandable, relevant, reliable, timely, and accurate.
Benefits of information must outweigh the cost of providing it.
The system should accommodate a variety of users and changing information needs.
The accounting system must consider the needs and knowledge of various users.
The system should be capable of meeting the changes in the demands made upon it.
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