
1. Components of a computerized accounting information system:
An accounting information system is used by various stakeholders and decision makers to collect, process, summarize, report different kind of financial and accounting data for day to day business activities. It can be either manual system or computer based system. In a computerized accounting information system the data can be processed accurately and quickly when compared to manual accounting system.
Computerized accounting information system is a set of software programs that are stored and accessible on a computer server or network. Generally computer based
To indicate: Components of Computerized accounting information system:
2. To indicate: Examples of each component :
3. To discuss: Entry level software system :

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Chapter 7 Solutions
ACCOUNTING PRINCIPLES 122 5/16 >C<
- no aiOne company might depreciate a new computer over three years while another company might depreciate the same model computer over five years...and both companies are right. True Falsearrow_forwardno ai An asset's useful life is the same as its physical life? True Falsearrow_forwardno ai Depreciation Expense reflects an allocation of an asset's original cost rather than an allocation based on the economic value that is being consumed. True Falsearrow_forward
- The purpose of depreciation is to have the balance sheet report the current value of an asset. True Falsearrow_forwardDepreciation Expense shown on a company's income statement must be the same amount as the depreciation expense on the company's income tax return. True Falsearrow_forwardDont use AI Give soln.arrow_forward
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