Which of the following is TRUE of outputs in an accounting information system?
A) In a manual system, reports and financial statements can be created using Word documents, Excel spreadsheets, or PowerPoint.
B) In a computerized system, the software can generate reports instantaneously that cannot be formatted.
C) Examples of outputs in an accounting information system include purchase invoices, bank checks, and sales invoices.
D) Since the output in an accounting information system is audited and error-free, it provides the evidence and data for accounting transactions.
A) In a manual system, reports and financial statements can be created using Word documents, Excel spreadsheets, or PowerPoint.
You might also like to view...
Which of the following is not true of category management?
A. A category manager is also called a category captain and works with vendors to get the most profit from collaborative relationships. B. A category manager chooses vendors that will get the most profit from the allocated space. C. A category manager ensures that the store's assortment includes the "best" combination of sizes and vendors. D. The category management approach to managing breakfast cereals in supermarkets should have one buyer or category manager who oversees all merchandising activities for the entire category. E. Managing merchandise within a category by brand can lead to inefficiencies because it fails to consider the interdependencies between SKUs in the category.
The GASB has a seven-member board. A simple majority of four is needed to issue a pronouncement
Indicate whether the statement is true or false
An operating cycle
a. is twelve months or less in length. b. is the average time required for a company to collect its receivables. c. is used to determine current assets when the operating cycle is longer than one year. d. starts with inventory and ends with cash.
Aspen Corporation Data for Aspen Corporation for the year ended December 31, 2012, are presented below. Credit sales $2,100,000 Sales returns 150,000 Gross accounts receivable (December 31, 2012 ) 420,000 Allowance for bad debts (Before adjustment at December 31, 2012 ) 25,000 Estimated amount of uncollected accounts based on an aging analysis 75,000 Refer to information provided for Aspen
Corporation. If Aspen uses the aging of accounts receivable method to estimate its bad debts, what amount will be reported as bad debt expense for 2012? A) $50,000 B) $75,000 C) $78,000 D) $53,000