Question

The five components of accounting systems are source documents, input devices, information processors, information storage, and output devices. Group startsTrue or False

Answer 1

Answer:

true cause they are used to process information

Answer 2

Answer:

True

Explanation:

Source documents are business documents that track business transactions.

Input devices, like bar code scanners, keyboards, and modems, are tools used to enter transaction information into the accounting system.

Information processors take the raw data from the input devices and post it to ledgers, journals, and reports.

Information storage is the component of the system that stores the reports and ledgers created by the information processors.

Output devices like monitors, printers, and projectors are any devices that take information from the system storage and display it in a useful way.

These components are all what help an accounting system gather financial data, translate it into useful information, and communicate it with decision makers.