Question

Are input data appropriately authorized and do they represent actual economic events and objects?

1) Yes
2) No
3) Cannot be determined

Answer 1

Yes, input data should be appropriately authorized and represent actual economic events and objects to ensure accuracy and reliability in decision-making and analysis.

Step-by-step explanation:

Yes, input data should be appropriately authorized and should represent actual economic events and objects. This ensures the accuracy and reliability of the information used for decision-making and analysis.

For example, in accounting, input data such as financial transactions are typically authorized by responsible individuals, such as managers or supervisors, to ensure they accurately reflect actual economic events, such as sales or purchases.

By ensuring that input data are appropriately authorized and represent actual economic events and objects, organizations can rely on this data to make informed business decisions and perform accurate financial analysis.