Which of the Following Is an Accounting Information System Activity

question 17

Multiple Choice

Which of the following is an accounting information system activity that can be classified as a payroll business transaction?

• A) approval of new employees
• B) receipt of customer payment
• C) processing of vendor invoices
• D) payment for goods or services

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Definitions:

Money Supply

The total amount of money—cash, coins, and balances in bank accounts—in circulation within a country's economy at a specific time.

Prime Rate

The interest rate that commercial banks charge their most credit-worthy customers, often used as a reference for setting various interest rates.

Great Recession

A severe global economic downturn that occurred from late 2007 through mid-2009, marked by significant declines in housing prices and increased unemployment rates.

Required Reserve Ratio

The fraction of deposits that regulators require a bank to hold in reserve and not loan out, in order to ensure bank liquidity.