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To be a positive economic statement, an assertion must be true.
Accounting Information System
A system used to collect, store, manage, process, retrieve, and report financial data for the users.
Manual Accounting System
A system in which someone performs each of the steps in the accounting cycle by hand.
Special Journals
Accounting books designed for recording specific types of transactions, such as sales, purchases, cash receipts, and cash disbursements.
Special Journals
Accounting journals designed for recording a specific type of transaction consistently, such as sales or purchases, for efficient processing.
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