Accounting Information Systems Generate Both Monetary and Non-Monetary Accounting Information

question 50

Essay

Accounting information systems generate both monetary and non-monetary accounting information. List two examples of eachtype of accounting information.

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Definitions:

Salvage Recovered

The amount of money or value received from selling off the remains of assets after their useful life is over or after a casualty loss.

Discount Rate

Used to calculate the present value of future cash flows, reflecting the opportunity cost of capital investment.

Cost Savings

The reduction in expenses achieved by employing more efficient methods or making favorable decisions.

Salvage Value

An asset's anticipated market value upon concluding its period of utility.