Most Accounting Systems Consist of Which of the Following Components

question 19

Multiple Choice

Most accounting systems consist of which of the following components:

• A)Input
• B)Processing
• C)Output
• D)All of the choices are correct

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Definitions:

Accounting Loopholes

Specific provisions or gaps in financial regulation that can be legally exploited to avoid or reduce tax liabilities.

Massage Numbers

Informal and potentially unethical practices of manipulating financial data to present more favorable results than the actual performance.

Negative Covenant

A clause in a loan or bond agreement that restricts certain activities by the borrower to protect the lender's interests.

Capital Expenditures

Capital expenditures are funds used by a company to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment.