Output Controls for the Computerized Accounting Information System Focus Primarily

question 4

True/False

Output controls for the computerized accounting information system focus primarily on the security and distribution of print media prepared by the computer center.

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Definitions:

Balance Sheet Columns

The sections of a balance sheet which typically include assets, liabilities, and shareholders' equity.

Drawing Account

An account used to record withdrawals made by a business owner or partner from the company for personal use.

Balance Sheet Debit

An entry on the left side of a balance sheet, typically indicating an increase in assets or a decrease in liabilities or equity.

Net Income

Profits after subtracting all costs, including operating expenses, interest, and taxes, from total revenue, indicating the final earning outcome of a business.