ACCT 1080 (ACCT 1080)
Wayne State University
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ACCT 1080 EXAM 3 STUDY GUIDE.Latest 2022
- Exam (elaborations) • 55 pages • 2022
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ACCT 1080 EXAM 3 STUDY GUIDE 
Key Terms & Definitions: 
•	Direct Write-off Method and Allowance Method. Which does GAAP require? 
•	Cash Ratio. What does a higher number indicate? 
•	Maturity Value of a Note is.. 
•	Acid Test Ratio 
•	Days Sales in Receivables 
•	A/R Turnover Ratio 
 
SAMPLE PROBLEMS: 
Chapter 7	Accounting Information Systems 
 
Learning Objective 7-1 
 
An accounting information system (AIS) collects, records, stores, and processes accounting data to produce informa...
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ACCT 1080 EXAM 3 STUDY GUIDE
- Other • 55 pages • 2022
-
- $15.49
- + learn more
Key Terms & Definitions: 
•	Direct Write-off Method and Allowance Method. Which does GAAP require? 
•	Cash Ratio. What does a higher number indicate? 
•	Maturity Value of a Note is.. 
•	Acid Test Ratio 
•	Days Sales in Receivables 
•	A/R Turnover Ratio 
 
SAMPLE PROBLEMS: 
Chapter 7	Accounting Information Systems 
 
Learning Objective 7-1 
 
An accounting information system (AIS) collects, records, stores, and processes accounting data to produce information that is useful for decisi...
-
ACCT 1080 Exam 3 Study Guide - Wayne State University
- Other • 55 pages • 2020
-
- $17.79
- + learn more
ACCT 1080 Exam 3 Study Guide - Wayne State University/ACCT 1080 Exam 3 Study Guide - Wayne State University
-
ACCT 1080 Exam 3 Study Guide - Wayne State University
- Other • 55 pages • 2020
-
- $17.79
- + learn more
ACCT 1080 Exam 3 Study Guide - Wayne State University/ACCT 1080 Exam 3 Study Guide - Wayne State University
-
ACCT 1080-Exam-3-Study-Guide.
- Study guide • 55 pages • 2020
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- $15.99
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ACCT 1080-Exam-3-Study-Guide/ACCT 1080-Exam-3-Study-Guide.
An accounting information system (AIS) collects, records, stores, and processes accounting data to produce information that is useful for decision makers.
Answer: TRUE

An effective accounting information system with adequate internal controls can safeguard a business's assets and reduce the likelihood of fraud and errors.
Answer: TRUE

 An accounting information system has three basic components: source documents and input devices, p...