Select the correct text in the passage. Select the appropriate characteristics of the executive information system in the four-level pyramid model.
Characteristics of Executive Information Systems
Most organizations use different types of information systems to manage their operations. The executive information system is a knowledge-
based interactive system. This type of system helps managers analyze the environment in which the organization operates, identify long-term
trends, and plan appropriate courses of action. The processing stage includes summarizing, simulating, and drilling down.
Information comes from internal management information systems or transaction processing systems. These systems revolve around internal
information flow and the final output is in the form of summary reports, graphs, or plots.

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar. spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements. cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery. rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer. gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life. esquire company provides financial statements to external users every three years.