A(n)________ system is an organized procedure for identifying,measuring,recording,and retaining financial information for use in accounting statements and management reports.
A) bookkeeping
B) accounting information
C) controlling
D) auditing analysis

Question

Quizplus · Accepted Answer

A system for identifying, measuring, recording, and retaining financial information is the definition of an accounting information system. Bookkeeping is a part of this system, but it refers more specifically to the process of recording financial transactions. Controlling and auditing analysis are related to accounting but refer to separate processes within the overall system.

A(n)________ System Is an Organized Procedure for Identifying,measuring,recording,and Retaining Financial