Which of the following statements is false? Select one: a. cost-effectiveness is

Question

Which of the following statements is false?

Select one:

a. cost-effectiveness is a basic principle underpinning efficient and effective accounting information systems.

b. cost-effectiveness means that the costs of providing information are less than the benefits from use of that information.

c. generally small entities require much more sophisticated accounting systems than large entities.

d. the same basic principles of accounting apply whether the accounting information system is manual or computerised.

Explanation / Answer

Solution: generally small entities require much more sophisticated accounting systems than large entities

Explanation: Small entities may not require extensive descriptions on the procedures of accounting, sophisticated accounting or written policies, thus the information system are likely to be less sophisticated compared to larger entities

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