The five basic components of accounting systems are source documents, input devices, information processors, information storage, and output devices.
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Q1: The compatibility principle requires that an accounting
Q2: The general journal is used for transactions
Q3: Input devices are the means to make
Q4: The cost-benefit principle prescribes that the benefits
Q5: Internal controls include policies to protect company
Q7: Accounting information processes are structured to eliminate
Q8: Input devices involve converting data on source
Q9: When auditors audit financial statements and a
Q10: The purchases journal is used to record
Q11: Output devices include journal entries, keyboards and
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