A (n) ____ system is the methods and procedures for collecting, classifying, summarizing, and reporting a business's financial and operating information.
A) accounting
B) fiduciary
C) operations
D) auditing

Question

Quizplus · Accepted Answer

The definition provided matches the concept of an accounting system, which involves the processes for managing and reporting a company's financial and operational data. Fiduciary systems relate to the management of assets and funds on behalf of others, operations systems deal with the production and delivery of goods and services, and auditing involves the review and evaluation of financial records for accuracy and compliance.

A (N) ____ System Is the Methods and Procedures for Collecting