Which of the following statements is true?
A)All accounting systems in use today are computerized systems.
B)All accounting systems, whether computerized or not, must capture data, process the data, and provide outputs
C)It is not necessary for an accounting system to maintain summary information if it maintains detail information.
D)The general ledger will be summarized and then posted to the subsidiary ledger.

Question

Quizplus · Accepted Answer

All accounting systems, whether computerized or not, must capture data, process the data, and provide outputs. This is because these are the fundamental functions of any accounting system, regardless of whether it is manual or computerized. Option A is incorrect because not all accounting systems are computerized - manual systems are still in use in some organizations. Option C is incorrect because maintaining summary information is necessary for the system to generate useful reports and analysis. Option D is incorrect because subsidiary ledgers are typically used to maintain detailed information, which is then summarized in the general ledger.

Which of the Following Statements Is True