Accounting Information Systems

question 41

Multiple Choice

Accounting information systems:

• A)Are always computerized.
• B)Report only accounting information.
• C)Include records,processes and reports.
• D)Are for computer games.

Identify the major sources of government revenue and their significance.

Understand the impact of demographic changes on government spending.

Comprehend the types of taxes, including excise, individual income, and corporate taxes, and their effects on the economy.

Analyze the reasons for projected increases in government spending, particularly related to Social Security, Medicare, and healthcare.

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Definitions:

Assignment

(1) A contracting party’s (an assignor’s) transfer of his or her rights to the contract to a third party (an assignee). (2) A transfer of a tenant’s entire interest in a leased property.

Covenant of Quiet Enjoyment

A lease promise that the tenant will have peaceful and undisturbed use of the property, without interference from the landlord or others with superior title.

Constructive Eviction

An action by a landlord that significantly interferes with or diminishes the use of a property by a tenant, which leads to the tenant being effectively forced to leave.

Essential Services

Essential Services are basic services that are deemed necessary for the wellbeing of the community, such as water, electricity, and medical care.