The basic components of an accounting system include
A)Information storage.
B)Input devices.
C)Information processors.
D)Source documents.
E)All of these answers are correct.

Question

Quizplus · Accepted Answer

All of these components are necessary for an accounting system to collect, store, process and report financial information. Information storage is necessary to keep track of financial transactions, input devices such as keyboards and scanners are used to enter the data, information processors such as accounting software are used to organize and manipulate the data, and source documents such as receipts and invoices provide evidence of financial transactions.

The Basic Components of an Accounting System Include