ACCT 1080 (ACCT 1080)

ACCT 1080 EXAM 3 STUDY GUIDE Key Terms & Definitions: • Direct Write-off Method and Allowance Method. Which does GAAP require? • Cash Ratio. What does a higher number indicate? • Maturity Value of a Note is.. • Acid Test Ratio • Days Sales in Receivables • A/R Turnover Ratio SAMPLE PROBLEMS: Chapter 7 Accounting Information Systems Learning Objective 7-1 An accounting information system (AIS) collects, records, stores, and processes accounting data to produce informa...

Key Terms & Definitions: • Direct Write-off Method and Allowance Method. Which does GAAP require? • Cash Ratio. What does a higher number indicate? • Maturity Value of a Note is.. • Acid Test Ratio • Days Sales in Receivables • A/R Turnover Ratio SAMPLE PROBLEMS: Chapter 7 Accounting Information Systems Learning Objective 7-1 An accounting information system (AIS) collects, records, stores, and processes accounting data to produce information that is useful for decisi...

ACCT 1080 Exam 3 Study Guide - Wayne State University/ACCT 1080 Exam 3 Study Guide - Wayne State University

ACCT 1080 Exam 3 Study Guide - Wayne State University/ACCT 1080 Exam 3 Study Guide - Wayne State University

ACCT 1080-Exam-3-Study-Guide/ACCT 1080-Exam-3-Study-Guide. An accounting information system (AIS) collects, records, stores, and processes accounting data to produce information that is useful for decision makers. Answer: TRUE An effective accounting information system with adequate internal controls can safeguard a business's assets and reduce the likelihood of fraud and errors. Answer: TRUE An accounting information system has three basic components: source documents and input devices, p...