All of the Following Are Characteristics of Every Accounting Information

question 67

Multiple Choice

All of the following are characteristics of every accounting information system except it is a system

• A)that collects transaction data.
• B)that processes transaction data.
• C)that communicates financial information to decision makers.
• D)of data storage hardware for the chart of accounts.

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Definitions:

Common Stock

Stock whose owners have voting rights in the corporation, yet do not receive preferential treatment regarding dividends.

Commercial Paper

An unsecured, short-term debt instrument issued by corporations, typically used for the financing of payroll, accounts payable, inventories, and meeting other short-term liabilities.