Accounting Information Systems Have Five Generic Elements

question 9

Essay

Accounting information systems have five generic elements.Which one applies to each item listed below within the context of the sales/collection process? a.Customer check, from the point of view of the seller b.Customer order c.Employee master file d.Invoice e.Maintaining adequate inventory f.Record transactions in the AIS g.Remittance advice, from the point of view of the seller h.Sales/inventory junction table i.Use of the seven steps j.Using information technology to fill orders

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Definitions:

Tax Burden

The total amount of taxes paid by an individual or business, expressed as a percentage of income.

Piece Rate Plan

A compensation model where workers are paid a fixed sum for each unit of production completed, rather than an hourly wage.

Teamwork

The collaborative effort of a group to achieve a common goal or complete a task in the most effective and efficient way.

Static Tasks

Work or duties that are consistent and unchanging over time, often repetitive in nature.