All information systems are computer-based

Which of the following is the first step of the control process?

a. establish performance standards b. compare performance to standards c. take corrective action if necessary d. measure performance

Which of the following statements is true of expenses?

A) Expenses increase equity, so an expense account's normal balance is a credit balance. B) Expenses decrease equity, so an expense account's normal balance is a credit balance. C) Expenses increase equity, so an expense account's normal balance is a debit balance. D) Expenses decrease equity, so an expense account's normal balance is a debit balance.