Accounting Information Systems Have Five Generic Elements

question 49

Multiple Choice

Accounting information systems have five generic elements.Which of the following would most appropriately be labeled "storage" within the context of the sales/collection process?

• A)A paper file of outstanding customer invoices
• B)An electronic database of sales transactions
• C)Both a paper file of outstanding customer invoices and an electronic database of sales transactions
• D)Neither a paper file of outstanding customer invoices nor an electronic database of sales transactions

Understand the hierarchical structure of the Earth's atmosphere.

Recognize the significance and health impact of air quality in urban areas.

Describe the formation and environmental impact of smog.

Understand the role and significance of stratospheric ozone.

---

Definitions:

Discount Taken

A reduction in the billed amount by a buyer, often for early payment, as an incentive from the seller.

Insurance Premium

The amount paid periodically to an insurance company for coverage.

Plant Asset

Long-term tangible assets used in the production of goods or services, such as machinery, buildings, and equipment.

Net Income

The total earnings calculated by subtracting total expenses from total revenues, indicating the company's profit.