Which of the following statements is true regarding accounting information systems?
A) Both large and small firms should use the same type of accounting system.
B) All firms should have the same types of transactions.
C) The volume of data to be handled should not vary between firms.
D) The kind of information that management requires of an accounting system will vary, depending on the type of firm.

Question

Quizplus · Accepted Answer

The kind of information that management requires of an accounting system will vary, depending on the type of firm. Different firms have different needs, and their accounting systems should be tailored accordingly. For example, a manufacturing firm will need different information from its accounting system than a service-oriented firm. The size of the company and the volume of data to be handled are also important factors to consider when designing an accounting system. Therefore, options A, B, and C are incorrect.

Which of the Following Statements Is True Regarding Accounting Information