Accounting Information Systems Have Five Generic Elements

question 24

Multiple Choice

Accounting information systems have five generic elements.Which of the following pairs includes two examples of the same element within the context of the acquisition/payment process?

• A)Purchase order and schedule of accounts payable
• B)Purchase order and adequate documentation
• C)Schedule of accounts payable and adequate documentation
• D)All of these

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Definitions:

Income Sharing

Income sharing refers to the distribution of profits or earnings among partners, stakeholders, or employees in a company or cooperative.

Cocaine

A powerful and addictive stimulant drug derived from the leaves of the coca plant.

Partnership Agreement

A legal document that outlines the rights, responsibilities, and distribution of profits and losses among partners in a business partnership.

Religious Beliefs

Personal or institutionalized system of attitudes, morals, ethics, worldviews, and practices centered on the idea of a supernatural power or powers.