Exam 2: Transaction Processing in the Ais

Courses intended for freshmen at a local university are numbered from 100 to 199, while courses intended for seniors at the same university are numbered from 400 to 499. Which coding system is the university using?

Plant assets, such as equipment, are reported on financial statements at their book value, thus exemplifying:

Which of the following statements about accounting and bookkeeping is most true?

Which step in the accounting cycle immediately precedes closing the temporary accounts?

NTR Corporation has offices in both Los Angeles and San Francisco. In the Los Angeles office, the account number for cash is 001.101. In San Francisco, the account number for cash is 002.101. Which of the following statements is most true?

Which of the following sets includes amounts from a single financial statement?

Communicating information to external decision makers is accomplished through ___ as part of the process of ___.

Which type of coding system helps people remember the meaning of the code?

The accounting department at a local university uses the prefix ACC for all its courses, thus exemplifying which type of coding system?

Which of the following phrases most closely relates to bookkeeping?

Which of the following statements about human judgment and information technology in the AIS is most true?

Explain, in your own words, two similarities and two differences between "accounting" and "bookkeeping."

SRE Corporation is a software development company; it uses block coding in its chart of accounts. Which of the following statements is most true?

Most organizations use purchase orders to authorize inventory and other purchases. If a company's purchase order contains a field labeled "purchase order number," it most likely uses what kind of coding?

Please refer to the following unadjusted trial balance in answering the below question. 1) VLN had unpaid wages totaling $800 at the end of the accounting period. When VLN's accountant makes an adjusting entry for the unpaid wages, the new trial balance totals will be:

ABT Corporation uses block coding for its chart of accounts, which includes Cash (101), Land (201), Accounts payable (301) and Retained Earnings (501). Which of the following account numbers is most likely associated with an account that will appear on the income statement?

Just before preparing financial statements, an inexperienced accountant recorded the use of supplies by debiting supplies expense $100 and debiting supplies $100. Which of the following is most true?

Which of the following steps in the accounting cycle occurs first?

NTR Corporation has offices in both Los Angeles and San Francisco. In the Los Angeles office, the account number for cash is 001.101. In San Francisco, the account number for cash is 002.101. The account number for accounts receivable in the Los Angeles office is therefore likely to be: