According to concept of accounting, financial or business transaction is recorded: a ) when cash is received or paid b) when transaction occurs c) when profit is computed D) when balance sheet is prepared =========================

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5Q: Which area of accounting needs a computerized accounting information system the most—payroll, tax,...
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According to concept of accounting, financial or business transaction is recorded:

a ) when cash is received or paid

b) when transaction occurs

c) when profit is computed

D) when balance sheet is prepared

===================================

Which of below users considered as Internal users of accounting information system?

a. Investor

b. Middle management

c. Bank

d. Buyer

==========================

Creditors of a business may want to use the financial statements to:

a. Be sure that after-sales service will continue

b. Be sure of an increasing share of the market

c. Check that the business is making a profit

d. Check that they are likely to be paid when due

 

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