Purchase Solution

Accounting Information Systems

Not what you're looking for?

Ask Custom Question

#9
Which of the following best describes the function of accounting?
a) accounting is the means by which company insiders manage their business
b) accounting must be understood primarily by government officials who tracks company progress
c) accounting is a process that measures the economic activities of a firm, summarized the results of those activities, and report those results
d) accounting is a process that keeps track of economic transactions and maintains its integrity by remaining apart from the main stream of a business

#10
Which of the following best describes the inter-relationships of the income statement, balance sheet, and statements of cash flows?
a) the balance sheet is used to reconcile the cash flow statement its directly derived from the balance sheet, and the income statement is a combination of elements from both the balance sheet and the cash flow statement
b) the cash flow statement converts the income statement and balance sheet from an accrual basis to a cash statement . Net earnings or losses from the income statement affected retained earnings on the balance sheet.
c) The operating section of the cash flow statement reconciles net earnings from the income statement to cash from operations
d) The cash flow statement is distinct from the income statement and balance sheet, which is why the U.S. government requires the statement

Purchase this Solution
Solution Preview

#9
Which of the following best describes the function of accounting?
a) accounting is the means by which company insiders manage their business
b) accounting must be understood primarily by government officials who tracks company progress
c) accounting is a process that measures the economic activities of a firm, summarized the results of those ...

Solution provided by:
Gaurav Agarwal, MS
Education
  • BE, Bangalore University, India
  • MS, University of Wisconsin-Madison
Recent Feedback
  • "Your explanation to the answers were very helpful."
  • "What does 1 and 0 means in the repair column?"
  • "Went through all of the formulas, excellent work! This really helped me!"
  • "try others as well please"
  • "Thank you, this helped a lot. I was not sure how to plug in those numbers to a formula. This was a great help. Now I have to figure out how to explain cost of capital is used in net present value analysis, and how cost of capital is used in net present value analysis. This stuff gets confusing."
Purchase this Solution
Free BrainMass Quizzes
Business Ethics Awareness Strategy

This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.

Employee Orientation

Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

View More Free Quizzes
Related BrainMass Solutions

  • Discuss how technology based information systems affect acco

    387523 Discuss how technology based information systems affect accounting? Discuss how technology based information systems affect accounting. Discuss how technology based information systems affect accounting.

  • Accounting Information Systems and Technologies

    Even in firms that do not use computers and other sophisticated information systems use accounting information system. References: Accounting Information Systems, Marshall B. Romney, Paul J.

  • Accounting Information Systems Questions

    547235 Accounting Information Systems Questions What important information, related to the accounting equation, is captured by accounting information systems? How does this information get translated to the financial statements?

  • Information Systems and the Accounting Profession

    62358 Information Systems and the Accounting Profession Describe how information systems are changing the various aspects of the accounting profession. Include a description of a variety of new technologies and their effects on accounting processes.

  • accounting information system

    Accounting Information Systems (AISs) combine the study and practice of accounting with the design, implementation, and monitoring of information systems.

  • Accounting requirements

    ., 2001. eNotes.com. 2006. 23 Apr, 2008 accounting-information-systems> This solution discusses how accounting requirements can be incorporated into the information systems and why they need to be

  • Accounting Information Systems and Competitive Advantage

    88270 Accounting Information Systems and Competitive Advantage Do you agree or disagree with the statement that "a decision to acquire an accounting information system is a business decision not a systems decision"?

  • Outputs of an Accounting Information Systems

    What are the typical outputs of an Accounting Information Systems? "An accounting information system (AIS) is a collection of interrelated parts, some of which may incorporate information technology.

  • Technology-Based Information Systems and Accounting

    463094 Technology-Based Information Systems and Accounting How do technology-based information systems affect accounting. What impact have they had on the role of accounting in business?

  • The Information Systems Department

    Information systems play the very important role of collecting pertinent numerical data in respect to the accounting and finance information within the accounting and finance departments within an organization.

View More Related Solutions