Accounting Information Systems Are

question 36

Multiple Choice

Accounting information systems are:

• A) Always computerized.
• B) Report only accounting information.
• C) Records, processes and reports
• D) Are for computer games

---

Definitions:

Commercial Substance

An aspect of transactions indicating that it will result in a significant change in the economic circumstances of the participating entities.

Realized Gain

The profit earned from the sale of an asset, calculated as the difference between the asset's sale price and its original purchase price.

Income Statement

A report detailing a corporation's income, costs, and earnings within a given timeframe.

Book Value

The net value of an asset as recorded on the balance sheet, calculated by original cost minus depreciation.