Which of the Following Statements Is True About Reporting Applications

question 27

Multiple Choice

Which of the following statements is True about reporting applications?

• A) Reporting applications deliver business intelligence to users as a result of an event or particular data condition.
• B) Reporting applications consist of five standard components: hardware, software, data, procedures, and people.
• C) Reporting applications refer to business applications that input data from one or more sources and applies reporting operations to that data to produce business intelligence.
• D) Reporting applications produce business intelligence using highly sophisticated operations.

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Uncollectible Accounts

Uncollectible accounts are debts owed to a company that are considered uncollectable and are written off as a bad debt expense.

Allowance for Doubtful Accounts

A contra account that represents the estimated amount of accounts receivable which may not be collectible.

Adjusting Entry

An accounting record made to adjust revenues and expenses to match the accounting period they were incurred, ensuring compliance with the accrual basis of accounting.