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:

Co-Ownership

Co-Ownership is the joint ownership of property or assets by two or more parties, where each party holds an interest or stake in the shared ownership.

Joint Tenants

A form of co-ownership where parties own property equally with the right of survivorship.

Right of Survivorship

A legal principle in joint property ownership where, upon death, the deceased's share automatically transfers to the surviving owners.

Preliminary Order

An initial court order that sets conditions or arrangements in legal matters, often before a final decision is made.