Videos
Identify the option that is not a reason for a company to make changes in their
Answer to Problem 1CQ
Option e
Explanation of Solution
Accounting Information System: AIS collects, records, stores and processes accounting and other data to produce information for decision makers. AIS can be a paper-and-pencil manual system, a complex system using the latest in IT, or something in between. It includes people, procedure and instructions, data, software, information technology infrastructure and internal controls and security measures.
The organizations try to changes or improve their information system frequently as to survive in the highly competitive and ever-changing world. Some of the reasons for a company to change its information system frequently is given below:
- Change in user or business needs.
- Technological changes.
- Improved business process.
- Competitive advantage.
- Productivity gains.
- System integration and
- System age and need to be replaced.
Option a: As per the above explanation, the given option is only a part of a reason for the changes in the accounting information system. Therefore, Option a is incorrect.
Option b: As per the above explanation, the given option is only a part of a reason for the changes in the accounting information system. Therefore, Option b is incorrect.
Option c: As per the above explanation, the given option is only a part of a reason for the changes in the accounting information system. Therefore, Option c is incorrect.
Option d: As per the above explanation, the given option is only a part of a reason for the changes in the accounting information system. Therefore, Option d is incorrect.
Option e: As per the above explanation, the given option contains all the reason for the changes in the accounting information system. Therefore, Option e is correct.
Want to see more full solutions like this?
Chapter 20 Solutions
EBK ACCOUNTING INFORMATION SYSTEMS
- Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $184,500 salary working full time for Angels Corporation. Angels Corporation reported $418,000 of taxable business income for the year. Before considering his business income allocation from Angels and the self-employment tax deduction (if any), Mason's adjusted gross income is $184,500 (all salary from Angels Corporation). Mason claims $59,000 in itemized deductions. Answer the following questions for Mason. c. b. Assuming the business income allocated to Mason is income from a specified service trade or business, except that Angels Corporation reported $168,000 of taxable business income for the year. What is Mason's deduction for qualified business income? Ignore the wage-based limitation when computing the deduction.arrow_forwardPlease give me true answer this financial accounting questionarrow_forwardWhat is the price earnings ratio on these financial accounting question?arrow_forward
- Provide answer this financial accounting questionarrow_forwardRembrandt Sports Inc. Providees the following inventory information: please answer this financial accounting questionarrow_forwardWhat is the carrying amount of the trademark on 30 June 2024 for this financial accounting question?arrow_forward
AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSON
Intermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill Education
Financial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education