true false 1 as businesses become more complex the need for computerized accounting 4352155

TRUE/FALSE

1.As businesses become more complex, the need for computerized accounting systems increases.

2.Computerized accounting systems use similar concepts to the manual approach and the computer does much of the work for you.

3.Computerized accounting systems consist of various modules, each associated with common business activities.

4.The purchasing and inventory management module maintains accounts receivable and inventory information.

5.Information for use by external stakeholders is provided by the asset management module.

6.Control accounts contain data about specific or individual items such as inventory prices and customer addresses.

7.A subsidiary account could include data about all individual customer accounts.

8.Subsidiary accounts of a particular type are summarized in the retained earnings account.

9.Control accounts are considered summary accounts for particular types of subsidiary accounts.

10.The components in a computerized accounting system are not linked together due to security concerns.

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