Decision Support System (DSS)and Management Information System (MIS)have Precise Definitions

question 57

True/False

Decision support system (DSS)and management information system (MIS)have precise definitions agreed to by practitioners.

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Definitions:

General Ledger

A comprehensive collection of a company's accounts, including all transactions and balances, used for preparing financial statements.

Special Journal

A type of accounting journal designed for recording a specific kind of transaction in a more efficient and detailed manner.

General Journal

A comprehensive record of all financial transactions of a company, listed in chronological order.

Correcting Entry

A correcting entry in accounting is a journal entry made to amend a previously recorded error in the financial statements.