Sometimes You Will Hear TPS Referred to as Business Intelligence

question 86

True/False

Sometimes you will hear TPS referred to as business intelligence systems because they focus on helping users make better business decisions.

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Definitions:

Ledger

A comprehensive collection of accounts where financial transactions are recorded, categorized, and summarized; an essential part of the accounting system.

Accounting Information System

A system used by businesses to collect, store, manage, process, retrieve, and report financial data for the purpose of informed decision-making.

General Ledger

A complete record of all financial transactions over the life of a company, used to compile financial statements.

General Journal

A basic accounting ledger that records each financial transaction of a business in chronological order.