The flexibility principle of accounting information systems prescribes that the: Benefits from an activity in the system outweigh the costs of the activity. System report useful, understandable, timely, and pertinent information for effective decision making. System aid managers in controlling and monitoring business activities. System is able to adapt to changes in the company, business environment, and needs of decision makers. System conforms to a company's activities, personnel, and structure. Question 7 ( 0.8 points) The inventory turnover ratio is calculated as: Cost of goods sold divided by average merchandise inventory. Sales divided by cost of goods sold. Ending inventory divided by cost of goods sold. Cost of goods sold divided by ending inventory. Cost of goods sold divided by ending inventory times 365 . Question 8 ( 0.8 points) A journal that is used to record and post transactions of a similar type is a(n): Perpetual journal. Columnar joumal. Special journat. General journal. All-purpose journat. Question 9 ( 0.8 points) The understatement of the beginning inventory balance causes: Cost of goods sold to be understated and net income to be understated. Cost of goods sold to be understated and net income to be overstated. Cost of goods sold to be overstated and net income to be overstated. Cost of goods sold to be overstated and net income to be understated. Cost of goods sold to be overstated and net income to be correct