IT Systems Have Dramatically Affected Many Aspects of Business

question 14

Multiple Choice

IT systems have dramatically affected many aspects of business.Which of the following is not one of the changes?

• A)Data input into accounting information systems.
• B)The way that data is processed in the system.
• C)The accounting information that is reported by the system.
• D)The outputs of the system.

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Definitions:

Depreciation

Apportioning the cost of a tangible asset in a systematic way over its period of usefulness.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments are made for accruals, deferrals, and errors, ensuring the total debits equal the total credits.

Accounting Period

The period of time covered by financial statements, usually consisting of 12 months, but can be of any length according to the business's reporting requirements.

Ledger

A book or collection of financial accounts where transactions are recorded.