7:46 1 Answer the below statements by stating (True or False) only. a. An accounting information system should be cost effective; that is, the benefits of the information must outweigh the cost of providing it. b. An accounting system has flexibility if it is able to be used by many different companies at the same time. c. General ledger accounting systems are software programs that integrate the various accounting functions related to sales, purchases, cash receipts and disbursements, and payroll. d. Enterprise resource planning systems integrate all aspects of the organization, including accounting, sales, human resource management, and manufacturing. e. Special journals are used to record unique transactions which do not ocur very often. f. A cash receipts journal can be used to record all transactions involving cash coming into the business, regardless of the source. g. The cash payments journal only has one column because require a credit to the Cash account. entries recorded in this journal h. A cash payments journal should not be used to record transactions which require payment by .check
7:46 1 Answer the below statements by stating (True or False) only. a. An accounting information system should be cost effective; that is, the benefits of the information must outweigh the cost of providing it. b. An accounting system has flexibility if it is able to be used by many different companies at the same time. c. General ledger accounting systems are software programs that integrate the various accounting functions related to sales, purchases, cash receipts and disbursements, and payroll. d. Enterprise resource planning systems integrate all aspects of the organization, including accounting, sales, human resource management, and manufacturing. e. Special journals are used to record unique transactions which do not ocur very often. f. A cash receipts journal can be used to record all transactions involving cash coming into the business, regardless of the source. g. The cash payments journal only has one column because require a credit to the Cash account. entries recorded in this journal h. A cash payments journal should not be used to record transactions which require payment by .check
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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can you help me with D,E,F,G,and H
Transcribed Image Text:7:46 1
Answer the below statements by stating (True or False) only.
a. An accounting information system should be cost effective; that is, the benefits of the
information must outweigh the cost of providing it.
b. An accounting system has flexibility if it is able to be used by many different companies at
the same time.
c. General ledger accounting systems are software programs that integrate the various
accounting functions related to sales, purchases, cash receipts and disbursements, and
payroll.
d. Enterprise resource planning systems integrate all aspects of the organization, including
accounting, sales, human resource management, and manufacturing.
e. Special journals are used to record unique transactions which do not ocur very often.
f. A cash receipts journal can be used to record all transactions involving cash coming into the
business, regardless of the source.
g. The cash payments journal only has one column because
require a credit to the Cash account.
entries recorded in this journal
h. A cash payments journal should not be used to record transactions which require payment by
.check
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