Answer the question shown in the attached picture QCloser LookWhy might companies opt to utilizespecialized journals over relying solelyon the general journal, and how doesthis decision impact the overallefficiency and accuracy of theiraccounting processes?Quipper

Maintaining special journals for repetitive transactions offers many advantages to business…

Answered: Q Closer Look Why might companies opt…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter2: The Accounting Information System

Section: Chapter Questions

Problem 1MCQ

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Urgent Please answer a soon as possible. Answer must be plagirism free What is the role of auditors and explain the importance of the role.
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THEORY PROBLEM Explain why accounting students should study Accounting Information Systems? Explain the Value Chain and also explain how Information Technology plays an important role in the Value Chain. Briefly describe the types of users of the SIA and what are the benefits of the output of the AIS for their work or profession? One of the characteristics of useful information is that it must be timelines and complete. Which is more important, timely but incomplete information, or complete information, but too late? Give an example! Briefly describe the purpose of internal control and provide an example of an internal control application for that purpose!
Match each of the numbered descriptions with the principle, component, or descriptor that it best reflects. Indicate your answer by entering the letter A through J in the blank provided. A. Control principle B. Relevance principle C. Compatibility principle D. Flexibility principle E. Cost-benefit principle F. Source documents G. Input devices H. Information processors I. Information storage J. Output devices 1. Capture information from source documents and transfer to information processing. 2. Keeps data accessible to information processors. 3. Systems that summarize information for use. 4. Means to take information out of an accounting system and make it available to users. 5. Provide the information processed by the accounting system. 6. Prescribes that benefits from an activity in a system outweigh the costs. 7. Prescribes that a system be adaptable to changes in the company, environment, and user needs. 8. Prescribes that a system conform with a company’s activities, personnel,…
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Q Closer Look Why might companies opt to utilize specialized journals over relying solely on the general journal, and how does this decision impact the overall efficiency and accuracy of their accounting processes? Quipper