An Information System Is the Mechanism for Storing,accessing and Manipulating

question 47

True/False

An information system is the mechanism for storing,accessing and manipulating information.

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Definitions:

Debit Balance

It is the remaining amount owing in an account after all debits and credits have been accounted for, typically found in asset and expense accounts.

Recorded By Credits

Recorded by Credits refers to accounting entries made on the credit side of an account, indicating an increase in liabilities, revenue, or equity, or a decrease in assets.

Decreases

A reduction in the quantity, size, or value of something.

Notes Payable

A written agreement or promissory note to pay a certain sum of money, usually with interest, by a specific date.