Five Different Components of the Accounting Information System Were Presented

question 17

Multiple Choice

Five different components of the accounting information system were presented in the textbook.Which of the following is not one of those components?

• A)Work steps within a business process intended to capture accounting data as the business process occurs.
• B)Work steps that are internal controls within the business process to safeguard assets and to ensure the accuracy and completeness of the data.
• C)Work steps that generate both internal and external reports.
• D)Work steps to assure that all business processes are recorded using computer-based procedures.

Identify the limitations of the payback method and how it ranks investment proposals.

Appreciate the significance of time value of money in evaluating investment decisions and savings.

Understand the process and benefits of post-audits in capital investment projects.

Learn about the complexities involved in predicting future cash flows and capital budgeting adjustments for risk.

---

Definitions:

Generic Name

A drug’s official name.

Debit Postings

Accounting entries that increase an asset or expense account, or decrease equity, liability, or revenue accounts.

Credit Postings

Entries that increase liabilities, revenue, or equity accounts, or decrease asset or expense accounts.

T Account

A skeleton version of a standard account, used for demonstration purposes.