As you learned in the chapter designing and implementing

accounting #1093
As you learned in the chapter, designing and implementing accounting information systems
requires judgment and critical thinking. Each chapter will include an exercise like this one to
help you develop those skills. Several statements related to the material in the chapter are listed
below; your job is to explain whether each statement is (i) always true, (ii) sometimes true, or
(iii) never true. If you answer (ii), explain when the statement is true.a. Data in an accounting
information system are stored electronically, such as on a disk. b.“Truth” is one of the
qualitative characteristics identified by the FASB conceptual framework. c. The FASB
conceptual framework identifies eight elements of financial statements. d. Information you find
on the Internet is reliable. e. Cost-effectiveness is an important criterion in the design of
accounting information systems. f. A Web site that is “under construction” may have a problem
with adequate coverage according to the UMUC information criteria. g. Both internal and
external parties can use information provided by the accounting information system. h. Most
companies have two different accounting information systems: one for internal use and one for
external use. i. In an AIS, source documents are paper-based. j. Problems and questions in
accounting information systems are open-ended; they do not have “right” or “wrong”
answers.View Solution:
As you learned in the chapter designing and implementing accounting

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