Which of the Following Best Fits the Definition of an Accounting

question 10

Multiple Choice

Which of the following best fits the definition of an accounting information system explained in the text?

• A)A checkbook register
• B)A publicly-traded corporation's financial statements
• C)Processed source documents leading to the general purpose financial statements
• D)An Excel spreadsheet of financial statement ratios

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Definitions:

Pension Expense

The cost recognized by an employer for the estimated liabilities of pension payments to retirees.

Salaries Expense

The cost incurred by a company to pay for employee services performed during a period.

Time Card

A record of the amount of an employee's time spent on different jobs, typically used for payroll purposes.

Internal Control

A system implemented by a company to ensure the integrity of financial and accounting information, promote accountability and prevent fraud.