Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in regards to a company using a computerized accou

In regards to a company using a computerized accounting system, which of the following statements...

50.1K

Verified Solution

Question

Accounting

In regards to a company using a computerized accounting system, which of the following statements is incorrect?

A.

The software identifies the temporary accounts.

B.

The accountant must manually prepare the closing entries.

C.

Closing entries are completed in a matter of seconds.

D.The Retained Earnings balance is

upminustominusdate.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Let T RR and S R RP be linear transformations Then So T Rm RP...

Basic Math
Q

Given that the pKas of the α-amino group and the α-carboxylic acid group in an amino...

Biology
Q

The RBE (relative biological effectiveness factor) for several different types of radiation is shown in the...

Physics
Q

Using a spreadsheet, prepare a cash budget for New Tech for the next year (January through...

Finance
Q

3 26 X SA

Geometry
Q

Give the domain for r(x): x+5/x-14x+40 in interval notation.

Basic Math
Q

Given that csc x 7 what is csc x

Calculus
Q

Find the inverse of the relation shown below Graph the given relation and its inverse...

Algebra
Q

Solve the following differential equation using Laplace transforms:y" 5y' + 6y = sinh(t), y(0)...

Algebra
Q

5 1 Two numbers multiply together to equal 64 but add together 12 What are...

Algebra
Q

The bill of lading: a) Reflects freight charges on goods shipped b) Signifies release of...

Accounting
Q

A company is considering a 5-year project that opens a new product line and requires...

Finance