Match each of the principles and phases in the development of an accounting system with the statement that best describes them.
a. Cost effectiveness
b. Flexibility
c. Useful output
_____ 1. Information must be understandable, relevant, reliable, timely, and accurate.
_____ 2. Benefits of information must outweigh the cost of providing it.
_____ 3. The system should accommodate a variety of users and changing information needs.
_____ 4. The accounting system must consider the needs and knowledge of various users.
_____ 5. The system should be capable of meeting the changes in the demands made upon it.

Question

Match each of the principles and phases in the development of an accounting system with the statement that best describes them.
a. Cost effectiveness
 b. Flexibility
c. Useful output
_____ 1. Information must be understandable, relevant, reliable, timely, and accurate.
_____ 2. Benefits of information must outweigh the cost of providing it.
_____ 3. The system should accommodate a variety of users and changing information needs.
_____ 4. The accounting system must consider the needs and knowledge of various users.
_____ 5. The system should be capable of meeting the changes in the demands made upon it.

Quizplus · Accepted Answer

The Answer of Match each of the principles and phases in the development of an accounting system with the statement that best describes them.
a. Cost effectiveness
 b. Flexibility
c. Useful output
_____ 1. Information must be understandable, relevant, reliable, timely, and accurate.
_____ 2. Benefits of information must outweigh the cost of providing it.
_____ 3. The system should accommodate a variety of users and changing information needs.
_____ 4. The accounting system must consider the needs and knowledge of various users.
_____ 5. The system should be capable of meeting the changes in the demands made upon it.

Match Each of the Principles and Phases in the Development