List and briefly discuss the three basic components of an accounting information system.
What will be an ideal response?
Source documents and input devices: Source documents provide the evidence and data for
accounting transactions. Source documents also provide control and reliability in an accounting
information system. Employees transfer data from paper source documents into the accounting
information system. Businesses also use computerized accounting information systems to create
electronic source documents and capture the data in electronic format.
2. Processing and storage: Once data has been input into the system, it must be processed.
Companies can use manual or computerized accounting information systems. Business data must
be stored. Computerized systems allow businesses to keep data on a main computer, called a
server. Protection and security of business data is important.
3. Outputs: Outputs are the reports used for decision making, including the financial statements.
In a computerized system, the accounting software can generate reports instantaneously.
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What are the guidelines to be followed to ensure readability of a presentation visual?
Four A washers, five B washers, two C bolts, and a D bolt are required to make one grill parts kit. If 100 grill parts kits are needed, how many more washers will be consumed than bolts?
What will be an ideal response?
If Frito-Lay (which has products in almost all the submarkets for snack foods) were to try to increase its share of one of its markets, it would be pursuing a ________ opportunity.
A. product development B. diversification C. market development D. mass marketing E. market penetration
An advantage of top-down budgeting is:
A) That top management estimates of project costs are often quite accurate, at least in aggregate. B) An elimination of the friction between top and lower levels in the competition for budget money. C) That projects are no longer a zero-sum game among lower level managers. D) That top management budgets, by definition, cannot experience overruns.