Question

State with reasons whether the following statement is true or false:
Accounting can be viewed as an information system which has its input processing methods and output.

Answer 1

An information system is one which helps in organizing the data of an entity in a systematic manner which is then used to make various decisions, analysis, etc. Accounting Information system also consists of collection of data with the help of various input methods which is processed ahead and output is stored in a proper manner for future reference.