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decreases an asset $800; decreases a liability $800. has no effect on total assets. Question 4 (1 point) Accounting systems s

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Answer #1

Answer is as follows:

Correct Option : events that results in a change in assets, liabilities, or shareholders equity items.

The accounting systems should record all events that results in a change in assets, liabilities, or shareholders equity items. The accounting system depends on the needs of the organisation and accounting system should provide all necessary information of an organisation. Accounting systems are methods used to clssify, summarise, and report financial data for use of the organisation.

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