Th e collection of all business transactions sorted by account in an accounting system is referred to as: B . a general ledger.

Q: hat are the accounting information needed by: a. Internal users b. External users

A: Accounting Information:- This is that information that is required by both external and internal…

Q: What is Accounting Information System?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Describe the basic accounting information system.

A: Definition:   Accounting information system: An accounting information system is a system that is…

Q: The entire group of accounts for a company is referred to as the: a. general ledger b. worksheet…

A: The transactions in the financial accounting are primarily reported to Journal and are then posted…

Q: Describe the Accounting Processing Cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Referring to the accounting equation, provide an example of at least one business transaction

A: Accounting equation defines as the equation in which the total assets of an entity equals to the…

Q: Which of the following is a feature of the transaction file? Conceptually similar to the ledger in…

A: A transaction file is the file which contains the list of transactions. It is used to update the…

Q: What are the five elements/components of Accounting Information System? Describe each

A: An accounting information system or framework (AIS) is a design that a business uses to gather,…

Q: Explain the accounting processing cycle.

A:

Q: Describe the steps in accounting processing cycle.

A: The accounting cycle is the holistic process of recording and processing all financial transactions…

Q: How do companies use information from their accounting systems and statements?

A: Accounting systems and statements are often used to support management decisions. An income…

Q: Accounting deals with

A: First option is wrong because accounting includes measurement of transactions into monetary value…

Q: The ledger that contains the financial statement accounts of a company is the a. General journal. d.…

A: The ledger that contains the financial statement accounts of a company is the General Ledger  option…

Q: The ledger that contains the financial statement accounts of a company is the Choose General journal…

A: In terms of accountancy,  a ledger can be defined as an accounting book that contains all…

Q: How do you define an accounting information system and what are its components? Give an example.

A: Introduction: The journal book will have a chronological record of all transactions in the…

Q: The accounting that records and measures the financial transactions by following GAAP is: a.…

A: Internal accounting helps in analysing the internal transactions of the organization  Management…

Q: xplain the accounting process in det

A: Answer: Accounting process is the process which involves maintaining books of accounts and record…

Q: describe the process of recording business transactions using an accounting system based on the…

A: There are different processes of recording business transactions. One of them is an accounting…

Q: which internal users need the accounting information

A: Accounting information data is the data that emerges from business exchanges. When distinguished,…

Q: List the chart of account numbers and major categories used in DPSystems’accounting system.

A: The chart of the account numbers and major categories used in DP accounting system are given below…

Q: Accounting is the information system that a. measures business activities. b. communicates the…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Name some users of accounting information.

A: Accounting is defined as an information system that reports the financial performance of a business…

Q: Analyze business transactions using the accounting equation.

A: Accounting equation is based on double entry system of accounting which says that for every…

Q: What does an effective accounting information system provide?

A: Accounting Information Systems:

Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…

A:

Q: The outputs of a computerized accounting information system are called a. reports. b. software. c.…

A: Computerized accounting includes using the computers and accounting software for recording, storing…

Q: List the steps of the accounting cycle.

A: Accounting cycle is the series of steps of accounting process which processes transactions into…

Q: Explain the three basic components of an accounting information system?

A: Accounting information systems: Accounting information system is a system that collects, stores,…

Q: The accounting cycle refers to a series of sequential steps or procedures performed to accomplish…

A: 1) The accounting cycle is the process of identifying, recording, classifying, and summarizing the…

Q: Identify four kinds of external users and describe how they use accounting information.

A: External users of accounting information are those users which are from outside the organization and…

Q: The process of initially recording a business transaction is called

A: Journalizing is the process of recording the financial transactions initially. This is the first…

Q: Required: Enter the impact of each transaction on individual items of the accounting equation. minus…

A: Important Accounting Equation Assets = Liabilities + Equity This Equation helps in the Preparation…

Q: Components of an accounting information system Measures working people hardware all of the above

A: The accounting information systems records and process both the financial and non financial…

Q: Examples of Accounting Information System

A: Accounting Information Systems help in the completion of duties related to budget analysis. An…