Most Accounting Information Systems Comprise Five Generic Elements

question 59

Multiple Choice

Most accounting information systems comprise five generic elements.As a tool for preparing financial statements, XBRL is most closely associated with:

• A)Processing
• B)Input
• C)Output
• D)Storage

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Definitions:

Automatic

Operating by itself with minimal human intervention, typically through pre-established instructions or programs.

System 2

Described in cognitive psychological theory, it refers to the deliberate, effortful, and analytical mode of thinking, as opposed to fast, automatic thought processes.

Focusing

The act of prioritizing and dedicating attention to specific tasks or objectives to improve efficiency and achieve better outcomes.

Crowded

A term describing a market or sector that is saturated with competitors, making it difficult for new entries to gain a foothold.