Accounting Information System, Accounting

Question: The basic principles of an accounting information system include all of the following except:
A
cost effectiveness

B
flexibility

C
useful output

D
periodicity

Note: Not available
1. Report
Question: Which of the following is not a major phase in the development of an accounting information system?
A
Design

B
Responsiveness

C
Implementation

D
Follow-up

Note: Not available
1. Report
Question: Which of the following is incorrect concerning subsidiary ledgers?
A
The purchases ledger is a common subsidiary ledger for creditor accounts.

B
The accounts receivable ledger is a subsidiary ledger.

C
A subsidiary ledger is a group of accounts with a common characteristic.

D
An advantage of the subsidiary ledger is that it permits a division of labor in posting.

Note: Not available
1. Report
Question: A sales journal will be used for: Credit Cash Sales Sales Sales Discounts
A
no yes yes

B
yes no yes

C
yes no no

D
yes yes no

Note: Not available
1. Report
Question: Which of the following statement is correct?
A
The sales discount column is included in the cash receipts journal.

B
The purchase journal records all purchases of merchandise whether for cash or on account.

C
The cash receipts journal records sales on account.

D
Merchandise returned by the buyer is recorded by the seller in the purchases journal.

Note: Not available
1. Report
Question: Which of the following is incorrect concerning the posting of the cash receipts journal?
A
The total of the other accounting column is not posted.

B
All column totals except the total for the other accounts column are posted once at the end of the month to the account title specified in the column heading.

C
The totals of all columns are posted daily to the accounts specified in the column heading.

D
The individual amounts in a column posted in total to a control account are posted daily to the subsidiary ledger account specified in the account credited column.

Note: Not available
1. Report
Question: Posting from the purchases journal to the subsidiary ledger are generally made:
A
yearly.

B
monthly.

C
weekly.

D
daily.

Note: Not available
1. Report
Question: Which statement is incorrect regarding the general journal?
A
Only transactions that cannot be entered in a special journal are recorded in the general journal.

B
Dual postings are always required in the general journal.

C
The general journal may be used to record acceptance of a note receivable in payment of an account receivable.

D
Correcting, adjusting and closing entries are made in the general journal.

Note: Not available
1. Report
Question: When special journals are used:
A
all purchase transactions are recorded in the purchase journal.

B
all cash received, except from cash sales is recorded in the cash receipts journal.

C
all cash disbursements are recorded in the cash payments journal.

D
a general journal is not necessary.

Note: Not available
1. Report
Question: If a customer returns goods for credit, an entry is normally made in the:
A
cash payments journal.

B
sales journal.

C
general journal.

D
cash receipts journal

Note: Not available
1. Report

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Question: The basic principles of an accounting information system include all of the following except:

Question: Which of the following is not a major phase in the development of an accounting information system?

Question: Which of the following is incorrect concerning subsidiary ledgers?

Question: A sales journal will be used for: Credit Cash Sales Sales Sales Discounts

Question: Which of the following statement is correct?

Question: Which of the following is incorrect concerning the posting of the cash receipts journal?

Question: Posting from the purchases journal to the subsidiary ledger are generally made:

Question: Which statement is incorrect regarding the general journal?

Question: When special journals are used:

Question: If a customer returns goods for credit, an entry is normally made in the: