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Which of the following is an advantage of a computer-based system for transactionprocessing over a manual system? A computer-based system(1) does not require as stringent a set of internal controls.(2) will produce a more accurate set of financial statements.(3) will be more efficient in generating financial statements.(4) eliminates the need to reconcile control accounts and subsidiary ledgers

Which of the following is an advantage of a computer-based system for transactionprocessing over a manual system? A computer-based system(1) does not require as stringent a set of internal controls.(2) will produce a more accurate set of financial statements.(3) will be more efficient in generating financial statements.(4) eliminates the need to reconcile control accounts and subsidiary ledgers

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is an advantage of a computer-based system for transaction
processing over a manual system? A computer-based system
(1) does not require as stringent a set of internal controls.
(2) will produce a more accurate set of financial statements.
(3) will be more efficient in generating financial statements.
(4) eliminates the need to reconcile control accounts and subsidiary ledgers

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