The Best Definition of an Accounting System Is

question 36

Multiple Choice

The best definition of an accounting system is:

• A)Journals,ledgers,and worksheets.
• B)Manual or computer-based records used in developing information about an entity for use by managers and also persons outside the organization.
• C)The personnel,procedures,devices,and records used by an entity to develop accounting information and communicate this information to decision makers.
• D)The concepts,principles,and standards specifying the information which should be included in financial statements,and how that information should be presented.

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Definitions:

Defendant

An individual, company, or institution sued or accused in a court of law.

Strict Liability

A legal doctrine holding an individual or entity liable for damages or injury caused by their actions, irrespective of fault or negligence.

Negligence Theory

A legal theory grounding the claim that a party's failure to act with the level of care considered reasonable under the circumstances leads to harm or damage to another.

Propensities

Natural inclinations or tendencies to behave in a particular way.