Which of the Following Is True of Outputs in an Accounting

question 50

Multiple Choice

Which of the following is true of outputs in an accounting information system?

• A)In a manual system,reports and financial statements must be created using Word documents,Excel spreadsheets,or PowerPoint.
• B)In a computerized system,the software can generate reports instantaneously that can never be manipulated.
• C)Examples of outputs in an accounting information system include purchase invoices,bank checks,and sales invoices.
• D)Since the output in an accounting information system is audited and error-free,it provides the evidence and data for accounting transactions.

Grasp the impact of failing to record adjusting entries on financial statements.

Learn to prepare adjusting entries for accrued expenses and understand their impact.

Understand the concept and accounting treatment of accrued revenues.

Knowledge of reversing entries and their purposes.

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Definitions:

Random Sample

A selection of individuals or items from a larger population or set in such a way that each has an equal chance of being included, ensuring the sample's representativeness of the whole.

Normal Population

A population with a data distribution that follows a normal curve, characterized by the bell shape.

Significance Level

The probability of rejecting the null hypothesis when it is true, usually set as a benchmark for testing hypotheses in research.

Decreasing

Involving a reduction in amount, size, strength, or number; moving in a descending order.