
Accounting Information System Questions and Answers PDF


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People also ask financial information systems questions answers download
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What are the three basic accounting system rules?
The three golden rules of accounting are (1) debit all expenses and losses, credit all incomes and gains, (2) debit the receiver, credit the giver, and (3) debit what comes in, credit what goes out.
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What is the difference between MIS and AIS?
A management information system (MIS) is a computer-based system designed to provide managers with the information they need to make the best decisions. An accounting information system (AIS) is also a computer-based system. However, its focus is specifically on collecting and storing financial and accounting data.
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What are the 5 principles of accounting information system?
There are five main principles associated with accounting information systems: the control principle, relevance principle, compatibility principle, flexibility principle, and cost-benefit principle.
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What are the five 5 basic components of an accounting information system?
“The five components are source documents, input devices, information processors, information storage, and output devices”.
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What are three questions to which the accounting system can provide answers?
give three questions to which the accounting system can provide answers. - is the business earning enough profit? - can we finance a business expansion? - what is the value of all the goods for sale?
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What are the five principles of accounting information systems quizlet?
control, relevance, compatibility, flexibility, and cost-benefit.
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What are the five 5 basic components of an accounting information system PDF?
It identifies five components of accounting information systems: hardware, software, data, people, and procedures. It also discusses six ways information technology is important to accountants.
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What three questions to which accounting system can provide answers?
give three questions to which the accounting system can provide answers. - is the business earning enough profit? - can we finance a business expansion? - what is the value of all the goods for sale?
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What are the 3 important steps in accounting process?
6 Important Steps in Full Accounting Cycle Step 1: Identify the Transaction. Step 2: Record Transactions in a Journal. Step 3: Post to the General Ledger. Step 4: Create a Trial Balance. Step 5: Create Financial Statements. Step 6: Closing the Books.
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What are the 5 stages of the accounting information system?
Developing Accounting Information Systems (AIS) includes five basic steps that include planning, analysis, design, implementation, and support. The time period associated with each of these steps can be as short as a few weeks or as long as several years depending on the objectives.
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What are the 3 main activities of an accounting information system?
The three basic functions of an accounting information system are to collect and process data, to report for the management, and to maintain accuracy and security.
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What are the 5 basic accounting principles?
However, when accountants prepare financial statements, they generally adhere to these five principles. The accrual principle. ... The matching principle. ... The historic cost principle. ... The conservatism principle. ... The principle of substance over form.
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