In a typical computerized accounting information system,________.
A) transactions must be recorded in debit and credit format
B) the software automatically knows to record a debit or a credit
C) transactions are posted manually
D) spreadsheets must be used to produce financial statements

Question

Quizplus · Accepted Answer

In a typical computerized accounting information system, the software automatically knows to record a debit or a credit based on the account type and the transaction being recorded. This eliminates the need for manual posting of transactions and recording in debit and credit format. The software can also automatically generate financial statements without the use of spreadsheets.

In a Typical Computerized Accounting Information System,________