Identify the statement which is not the reason for IT being important to the accountants.

Question

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Answer 1

Question

Chapter 4, Problem 1TY

To determine

Identify the statement which is not the reason for IT being important to the accountants.

Expert Solution & Answer

Answer to Problem 1TY

Option d

Explanation of Solution

Accounting Information System (AIS): In order to accomplish data gathering, storage, processing, and output tasks, all the interacting components in a set must work together. This set of interacting components are referred to as accounting information system.

Option a: The clients are helped by the accountants to make decisions regarding software and hardware. To these efforts, a knowledge of IT concepts is important. Hence, this is not the correct option.

Option b: Though the accounting information systems are computerized, it is essential for them to be audited. Without a firm understanding of IS concepts, it is impossible to audit such systems. Hence, this is not the correct option.

Option c: On professional certification examinations, IT questions often appear. Hence, this is not the correct option.

Option d: The costs of IT are not skyrocketing. Hence, this is the correct answer.

Conclusion

As per the above explanation, the statement which is not the reason for IT being important to the accountants is option d. The costs of IT are skyrocketing.

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Hikaru Manufacturing, Inc. planned and actually manufactured 250,000 units of its single product during its first year of operations. Variable manufacturing costs were $28 per unit of product. Planned and actual fixed manufacturing costs were $750,000, and selling and administrative costs totaled $500,000. Hikaru sold 150,000 units of product at a selling price of $45 per unit. What is Hikaru's operating income using absorption (full) costing? a) $320,000 b) $480,000 c) $600,000 d) $1,600,000

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Answer 2

Question

Chapter 4, Problem 1TY

To determine

Identify the statement which is not the reason for IT being important to the accountants.

Expert Solution & Answer

Answer to Problem 1TY

Option d

Explanation of Solution

Accounting Information System (AIS): In order to accomplish data gathering, storage, processing, and output tasks, all the interacting components in a set must work together. This set of interacting components are referred to as accounting information system.

Option a: The clients are helped by the accountants to make decisions regarding software and hardware. To these efforts, a knowledge of IT concepts is important. Hence, this is not the correct option.

Option b: Though the accounting information systems are computerized, it is essential for them to be audited. Without a firm understanding of IS concepts, it is impossible to audit such systems. Hence, this is not the correct option.

Option c: On professional certification examinations, IT questions often appear. Hence, this is not the correct option.

Option d: The costs of IT are not skyrocketing. Hence, this is the correct answer.

Conclusion

As per the above explanation, the statement which is not the reason for IT being important to the accountants is option d. The costs of IT are skyrocketing.

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Answer 3

Question

Chapter 4, Problem 1TY

To determine

Identify the statement which is not the reason for IT being important to the accountants.

Expert Solution & Answer

Answer to Problem 1TY

Option d

Explanation of Solution

Accounting Information System (AIS): In order to accomplish data gathering, storage, processing, and output tasks, all the interacting components in a set must work together. This set of interacting components are referred to as accounting information system.

Option a: The clients are helped by the accountants to make decisions regarding software and hardware. To these efforts, a knowledge of IT concepts is important. Hence, this is not the correct option.

Option b: Though the accounting information systems are computerized, it is essential for them to be audited. Without a firm understanding of IS concepts, it is impossible to audit such systems. Hence, this is not the correct option.

Option c: On professional certification examinations, IT questions often appear. Hence, this is not the correct option.

Option d: The costs of IT are not skyrocketing. Hence, this is the correct answer.

Conclusion

As per the above explanation, the statement which is not the reason for IT being important to the accountants is option d. The costs of IT are skyrocketing.

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Answer 4

Question

Chapter 4, Problem 1TY

To determine

Identify the statement which is not the reason for IT being important to the accountants.

Expert Solution & Answer

Answer to Problem 1TY

Option d

Explanation of Solution

Accounting Information System (AIS): In order to accomplish data gathering, storage, processing, and output tasks, all the interacting components in a set must work together. This set of interacting components are referred to as accounting information system.

Option a: The clients are helped by the accountants to make decisions regarding software and hardware. To these efforts, a knowledge of IT concepts is important. Hence, this is not the correct option.

Option b: Though the accounting information systems are computerized, it is essential for them to be audited. Without a firm understanding of IS concepts, it is impossible to audit such systems. Hence, this is not the correct option.

Option c: On professional certification examinations, IT questions often appear. Hence, this is not the correct option.

Option d: The costs of IT are not skyrocketing. Hence, this is the correct answer.

Conclusion

As per the above explanation, the statement which is not the reason for IT being important to the accountants is option d. The costs of IT are skyrocketing.

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Answer 5

Chapter 4, Problem 1TY

To determine

Identify the statement which is not the reason for IT being important to the accountants.

Expert Solution & Answer

Answer to Problem 1TY

Option d

Explanation of Solution

Accounting Information System (AIS): In order to accomplish data gathering, storage, processing, and output tasks, all the interacting components in a set must work together. This set of interacting components are referred to as accounting information system.

Option a: The clients are helped by the accountants to make decisions regarding software and hardware. To these efforts, a knowledge of IT concepts is important. Hence, this is not the correct option.

Option b: Though the accounting information systems are computerized, it is essential for them to be audited. Without a firm understanding of IS concepts, it is impossible to audit such systems. Hence, this is not the correct option.

Option c: On professional certification examinations, IT questions often appear. Hence, this is not the correct option.

Option d: The costs of IT are not skyrocketing. Hence, this is the correct answer.

Conclusion

As per the above explanation, the statement which is not the reason for IT being important to the accountants is option d. The costs of IT are skyrocketing.

Answer 6

Chapter 4, Problem 1TY

To determine

Identify the statement which is not the reason for IT being important to the accountants.

Expert Solution & Answer

Answer to Problem 1TY

Option d

Explanation of Solution

Accounting Information System (AIS): In order to accomplish data gathering, storage, processing, and output tasks, all the interacting components in a set must work together. This set of interacting components are referred to as accounting information system.

Option a: The clients are helped by the accountants to make decisions regarding software and hardware. To these efforts, a knowledge of IT concepts is important. Hence, this is not the correct option.

Option b: Though the accounting information systems are computerized, it is essential for them to be audited. Without a firm understanding of IS concepts, it is impossible to audit such systems. Hence, this is not the correct option.

Option c: On professional certification examinations, IT questions often appear. Hence, this is not the correct option.

Option d: The costs of IT are not skyrocketing. Hence, this is the correct answer.

Conclusion

As per the above explanation, the statement which is not the reason for IT being important to the accountants is option d. The costs of IT are skyrocketing.

Answer 7

Chapter 4, Problem 1TY

To determine

Identify the statement which is not the reason for IT being important to the accountants.

Answer 8

Expert Solution & Answer

Answer to Problem 1TY

Option d

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Accounting Information System (AIS): In order to accomplish data gathering, storage, processing, and output tasks, all the interacting components in a set must work together. This set of interacting components are referred to as accounting information system.

Option a: The clients are helped by the accountants to make decisions regarding software and hardware. To these efforts, a knowledge of IT concepts is important. Hence, this is not the correct option.

Option b: Though the accounting information systems are computerized, it is essential for them to be audited. Without a firm understanding of IS concepts, it is impossible to audit such systems. Hence, this is not the correct option.

Option c: On professional certification examinations, IT questions often appear. Hence, this is not the correct option.

Option d: The costs of IT are not skyrocketing. Hence, this is the correct answer.

Answer 12

Conclusion

As per the above explanation, the statement which is not the reason for IT being important to the accountants is option d. The costs of IT are skyrocketing.

Answer 13

Ch. 4 - Prob. 1TY Ch. 4 - Prob. 2TY Ch. 4 - The acronyms POS, MICR, and OCR are examples...Ch. 4 - Prob. 4TY Ch. 4 - Prob. 5TY Ch. 4 - Prob. 6TY Ch. 4 - Prob. 7TY Ch. 4 - Prob. 8TY Ch. 4 - Prob. 9TY Ch. 4 - Prob. 10TY

Identify the statement which is not the reason for IT being important to the accountants.

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Identify the statement which is not the reason for IT being important to the accountants.

Answer to Problem 1TY

Explanation of Solution

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Chapter 4 Solutions