A Manufacturing System Accepts Raw Materials as Input and Produces

question 104

Short Answer

A manufacturing system accepts raw materials as input and produces finished goods as output. An information system accepts data as input and processes them into _______________ as output.

---

Definitions:

Overpayment Error

A financial mistake where more money is paid out than is owed or necessary, leading to a discrepancy in accounts.

Cash

A form of liquid asset that includes currency, coins, bank deposits, and other mediums of exchange that can be used immediately for transactions.

Trial Balance Totals

The aggregate amounts of all debits and credits in a company's trial balance, which should match to indicate that the accounting entries are balanced.

Journal Entry

A record in the accounting journal that details all the financial transactions of a business and their impact on its accounts.