What are reporting systems? What are the fundamental operations they perform?
What will be an ideal response?
A reporting system is an information system that creates information by processing
data from disparate sources and delivering that information to the proper users on a timely basis.
Reporting systems manipulate data into meaningful context using four fundamental operations:
(1 ) filtering data, (2 ) sorting data, (3 ) grouping data, and (4 ) making simple calculations on the
data.
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Debt financing means exchanging partial ownership in a firm in exchange for cash
Indicate whether the statement is true or false
According to the IRS's LIFO conformity rule, a company that chooses LIFO to report net income to its shareholders may not use LIFO in preparing its income tax return
a. True b. False Indicate whether the statement is true or false