Final answer:
The outputs of the general ledger and reporting system include A. managerial reports, B. financial statements, D. closing entries, and E. budgets.
Step-by-step explanation:
The outputs of the general ledger and reporting system include various elements. These elements are -
A. Managerial reports, which provide the internal stakeholders with proper information to make effective decisions and manage the business.
B. Financial statements, which summarize the financial activities and position of the company.
D. Closing entries, which transfer the balances of temporary accounts to the permanent accounts at the end of an accounting period.
E. Budgets, which ideally outline the financial goals and expected revenue and expenses for a future period.
To summarize, the outputs of the general ledger and reporting system include managerial reports, financial statements, adjusting entries, and closing entries. Budgets, although not direct outputs, are an important tool for financial management.