Technology:
A) Reduces the time, effort and cost of recordkeeping.
B) In accounting is only available to large corporations.
C) Has not improved the clerical accuracy of accounting.
D) Has replaced accounting.
E) In accounting has replaced the need for decision makers.

Question

Quizplus · Accepted Answer

Technology has greatly improved the process of recordkeeping, reducing the time and effort required, as well as lowering the cost.

Answer: B
 This statement is not true as technology is available to businesses of all sizes, not just large corporations.

Answer: D
 This statement is not true as technology is a tool that supports accounting functions, but it has not replaced the need for accounting professionals.

Answer: E
 This statement is not true as technology can support decision-making, but it cannot replace the need for human judgement and expertise.