accounting-A combination of personnel, records, and procedures that a business
by ella | Aug 20, 2025 | Business
Last one for the night!
| 1.A combination of personnel, records, and procedures that a business uses to provide financial data is known as a(n)_______. (Points : 1) |
processing
input
output
accounting information system |
| Question 2.2.A computerized storehouse of information is referred to as a(n)_______. (Points : 1) |
database
server
processor
both a and c are correct |
| Question 3.3.Computerized accounting for similar transactions in a group or batch is referred to as_______. (Points : 1) |
hardware
batch processing
software
unit processing |
| Question 4.4.Keeping accurate records of accounts receivable is an example of which feature of a good accounting information system? (Points : 1) |
favorable cost/benefit relationship
compatibility
control
flexibility |
| Question 5.5.Which of the following transactions are recorded in the purchases journal? (Points : 1) |
purchase of store supplies for cash
purchase of inventory on account
purchase of inventory for cash
return of supplies purchased on account |
| Question 6.6.Amounts are posted individually from the purchases journal to the_______. (Points : 1) |
credit column of the creditors’ accounts in the accounts payable subsidiary ledger
credit column of the inventory account in the general ledger
credit column of the accounts receivable account in the general ledger
debit column of the cash account in the general ledger |
| Question 7.7.Each cell in a spreadsheet is defined by_______. (Points : 1) |
a row number and a column letter
a row number and a label
a formula and a column number
formulas and labels |
| Question 8.8.Computerized accounting systems are organized by_______. (Points : 1) |
outputs
inputs
function
networks |
| Question 9.9.The accounts receivable credit column of the cash receipts journal is_______. (Points : 1) |
posted in summary at the end of the month and by individual amounts on a daily basis
posted by individual amounts only at the end of the month
not posted
posted in summary only at the end of the month |
| Question 10.10.The credit entry in a cash disbursements journal is always to ________. (Points : 1) |
inventory
an expense account
cash
accounts payable |
| Question 11.11.In which journal would the receipt of a note receivable plus accrued interest be recorded_______. (Points : 1) |
sales journal
purchases journal
cash receipts journal
cash payments journal |
| Question 12.12.Entries in the purchases journal are posted to the_______. (Points : 1) |
general ledger only
general ledger and the accounts payable ledger
accounts payable subsidiary ledger and the purchases ledger
accounts payable subsidiary ledger only |
| Question 13.13.The payment of a note payable plus the accrued interest would be recorded in the_______. (Points : 1) |
cash payments journal
general journal
purchases journal
sales journal |
| Question 14.14.An invoice is received from a vendor for supplies bought on account. This transaction would MOST LIKELY be recorded in the ________. (Points : 1) |
general journal
sales journal
cash payments journal
purchases journal |
|
Question 15.15.Companies following international financial reporting standards must ________. (Points : 1)
|
choose different accounting systems than companies that follow accounting standards for private enterprises
consider that it may be necessary to implement an internal control system assuming it is cost effective to do so
consider that they may need to report more information than a company that follows accounting standards for private enterprises
report less information than what is required under accounting standards for private enterprises |
