Accounting Information Systems

1. Define the term comparative advantage and explain its relationship to wealth maximisation.

2. Define ‘information’.

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3. ‘Information is the most valuable resource a company can possess.’ Discuss.

4. ‘The purpose of a corporate accounting information system is to provide information, and support decision making.’ Discuss.

What is the primary difference between the trial balance and balancesheet?Differentiate between account payable and account receivable

What is the abbreviation for the accounting terms debit and credit?How many types of business transactions are there in accounting?

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