Accounting Information Systems Has Links with Other Areas of Accounting

question 41

Multiple Choice

Accounting information systems has links with other areas of accounting study, including financial accounting.Which of the following combines an example of AIS storage with information you would expect to find in it?

• A)Balance sheet, listing of current asset accounts with their balances
• B)Master file, customer address
• C)Both balance sheet, listing of current asset accounts with their balances and master file, customer address
• D)Neither balance sheet, listing of current asset accounts with their balances nor master file, customer address

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Definitions:

GAAP

An aggregation of universally recognized rules and standards in accounting for presenting financial information.

Non-Interest-Bearing Note

A type of promissory note that does not accrue interest over its life, with the borrower repaying only the principal amount borrowed.

Net Carrying Value

The current book value of an asset or company after subtracting total liabilities from total assets.