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Describe the Role of Information Systems,the Different Types of Information

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Describe the role of information systems,the different types of information systems,and how businesses use such systems.


Definitions:

Accounting Cycle

The sequence of procedures performed in accounting to process, record, and report financial transactions over a specific period.

Adjusted Trial Balance

An adjusted trial balance is a list of all the accounts of a company, including any adjustments, showing the final balances to be used for financial statements.

Financial Reports

Documents that provide an overview of a business's financial condition in both short and long term.

Asset

Any resource owned by a business or an individual that is expected to provide future benefits.

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