Question 1

Cash purchases are recorded in the purchases journal.

Accepted Answer

A) True 
 B)False

Question 2

When using a computerized accounting information system,sales transactions are only recorded when the cash is received.

Accepted Answer

A) True 
 B)False

Question 3

If a business uses the periodic inventory system,the sales journal will ________.

Accepted Answer

A) record both the cash and credit sales 
B) include a Purchase DR and Account Receivable CR column 
C) exclude the Accounts Receivable DR and Sales Revenue CR column 
D) exclude the Cost of Goods Sold DR and Merchandise Inventory CR column 
A) record both the cash and credit sales 
B) include a Purchase DR and Account Receivable CR column 
C) exclude the Accounts Receivable DR and Sales Revenue CR column 
D) exclude the Cost of Goods Sold DR and Merchandise Inventory CR column

Question 4

A special journal is ________.

Accepted Answer

A) an accounting journal designed to record one specific type of transaction 
B) an accounting journal that holds individual accounts that support a specific general ledger account 
C) a record of accounts that provides supporting details on individual balances,the total of which appears in a general ledger account 
D) a created list of the accounts used by a business entity to define each class of items for which cash is spent or received 
A) an accounting journal designed to record one specific type of transaction 
B) an accounting journal that holds individual accounts that support a specific general ledger account 
C) a record of accounts that provides supporting details on individual balances,the total of which appears in a general ledger account 
D) a created list of the accounts used by a business entity to define each class of items for which cash is spent or received

Question 5

Sales on account are recorded in a cash receipts journal.

Accepted Answer

A) True 
 B)False

Question 6

Purchases on account are recorded in the purchases journal.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is true of the general journal?

Accepted Answer

A) All transactions recorded in one of the special journals are also recorded in the general journal. 
B) Manual accounting information systems do not need the general journal. 
C) The adjusting entries and the closing entries are recorded in the general journal. 
D) Non-routine transactions are generally not recorded in the general journal. 
A) All transactions recorded in one of the special journals are also recorded in the general journal. 
B) Manual accounting information systems do not need the general journal. 
C) The adjusting entries and the closing entries are recorded in the general journal. 
D) Non-routine transactions are generally not recorded in the general journal.

Question 8

In an accounting information system,source documents are the documents which ________.

Accepted Answer

A) are not needed if a computerized system is used 
B) detail the strategic planning of the business 
C) have complete information about the financial statements 
D) provide the evidence and data for accounting transactions 
A) are not needed if a computerized system is used 
B) detail the strategic planning of the business 
C) have complete information about the financial statements 
D) provide the evidence and data for accounting transactions

Question 9

A control account ________.

Accepted Answer

A) does not appear on the balance sheet 
B) has a balance that equals the sum of the balances in a group of related accounts in a subsidiary ledger 
C) is equivalent to a contra account and represents the offsetting nature of debits and credits on a firm's financial statements 
D) holds individual accounts that support a general ledger account 
A) does not appear on the balance sheet 
B) has a balance that equals the sum of the balances in a group of related accounts in a subsidiary ledger 
C) is equivalent to a contra account and represents the offsetting nature of debits and credits on a firm's financial statements 
D) holds individual accounts that support a general ledger account

Question 10

Which of the following is an example of hardware?

Accepted Answer

A) monitor 
B) malware 
C) firewall 
D) operating system 
A) monitor 
B) malware 
C) firewall 
D) operating system

Question 11

An automobile parts retailer purchases merchandise inventory on account.When using a manual accounting information system,this transaction is recorded in the ________.

Accepted Answer

A) purchases journal 
B) general journal 
C) cash payments journal 
D) sales journal 
A) purchases journal 
B) general journal 
C) cash payments journal 
D) sales journal

Question 12

In a typical computerized accounting information system,________.

Accepted Answer

A) transactions must be recorded in debit and credit format 
B) the software automatically knows to record a debit or a credit 
C) transactions are posted manually 
D) spreadsheets must be used to produce financial statements 
A) transactions must be recorded in debit and credit format 
B) the software automatically knows to record a debit or a credit 
C) transactions are posted manually 
D) spreadsheets must be used to produce financial statements

Question 13

When using a purchases journal,Accounts Payable is always credited.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is true of the comparison between a manual and a computerized accounting information system?

Accepted Answer

A) In both manual and computerized systems,reports and financial statements must be created using Word documents,Excel spreadsheets,or PowerPoint. 
B) In a computerized system,the software can generate financial reports instantaneously that cannot be formatted. 
C) In a manual system,data are contained in paper documents,which are often stored in filing cabinets and off-site document warehouses; whereas in a computerized system,data are stored on a main computer called a server. 
D) In both manual and computerized systems,processing data includes manually journalizing transactions and posting to the accounts. 
A) In both manual and computerized systems,reports and financial statements must be created using Word documents,Excel spreadsheets,or PowerPoint. 
B) In a computerized system,the software can generate financial reports instantaneously that cannot be formatted. 
C) In a manual system,data are contained in paper documents,which are often stored in filing cabinets and off-site document warehouses; whereas in a computerized system,data are stored on a main computer called a server. 
D) In both manual and computerized systems,processing data includes manually journalizing transactions and posting to the accounts.

Question 15

An automobile parts retailer purchases merchandise inventory for cash.When using a manual accounting information system,this transaction is recorded in the ________.

Accepted Answer

A) purchases journal 
B) general journal 
C) cash payments journal 
D) sales journal 
A) purchases journal 
B) general journal 
C) cash payments journal 
D) sales journal

Question 16

Which of the following is true of source documents in an accounting information system?

Accepted Answer

A) All journal entries can be considered as source documents in an accounting information system. 
B) Source documents provide control and reliability in an accounting information system. 
C) A manual document cannot be considered as a source document in an accounting information system. 
D) In a manual accounting information system,source documents refer to financial statements. 
A) All journal entries can be considered as source documents in an accounting information system. 
B) Source documents provide control and reliability in an accounting information system. 
C) A manual document cannot be considered as a source document in an accounting information system. 
D) In a manual accounting information system,source documents refer to financial statements.

Question 17

Generally,all transactions are recorded in both a special journal and the general journal.

Accepted Answer

A) True 
 B)False

Question 18

In the cash receipts journal,the Other Accounts CR column is used when a transaction involves a credit entry that is not listed in the headings (columns)of the cash receipts journal.

Accepted Answer

A) True 
 B)False

Question 19

________ refers to purchasing software and data storage from a third party.

Accepted Answer

A) Cloud computing 
B) Resource planning 
C) Networking 
D) Entry-level software 
A) Cloud computing 
B) Resource planning 
C) Networking 
D) Entry-level software

Question 20

The accounting is the same regardless of whether a business uses a manual or a computerized accounting information system.

Accepted Answer

A) True 
 B)False

Cash purchases are recorded in the purchases journal.

When using a computerized accounting information system,sales transactions are only recorded when the cash is received.

If a business uses the periodic inventory system,the sales journal will ________.

A special journal is ________.

Sales on account are recorded in a cash receipts journal.

Purchases on account are recorded in the purchases journal.

Which of the following is true of the general journal?

In an accounting information system,source documents are the documents which ________.

A control account ________.

Which of the following is an example of hardware?

An automobile parts retailer purchases merchandise inventory on account.When using a manual accounting information system,this transaction is recorded in the ________.

In a typical computerized accounting information system,________.

When using a purchases journal,Accounts Payable is always credited.

Which of the following is true of the comparison between a manual and a computerized accounting information system?

An automobile parts retailer purchases merchandise inventory for cash.When using a manual accounting information system,this transaction is recorded in the ________.

Which of the following is true of source documents in an accounting information system?

Generally,all transactions are recorded in both a special journal and the general journal.

In the cash receipts journal,the Other Accounts CR column is used when a transaction involves a credit entry that is not listed in the headings (columns)of the cash receipts journal.

________ refers to purchasing software and data storage from a third party.

The accounting is the same regardless of whether a business uses a manual or a computerized accounting information system.

Introduction to Managerial Accounting

Job Order Costing

Process Costing

Cost Management Systems: Activity-Based, just-In-Time, and Quality Management Systems

Cost-Volume-Profit Analysis

Variable Costing

Master Budgets

Flexible Budgets and Standard Cost Systems

Responsibility Accounting and Performance Evaluation

Short-Term Business Decisions

Capital Investment Decisions

Filters

Exam 15: Accounting Information Systems

Cash purchases are recorded in the purchases journal.

When using a computerized accounting information system,sales transactions are only recorded when the cash is received.

If a business uses the periodic inventory system,the sales journal will ________.

A special journal is ________.

Sales on account are recorded in a cash receipts journal.

Purchases on account are recorded in the purchases journal.

Which of the following is true of the general journal?

In an accounting information system,source documents are the documents which ________.

A control account ________.

Which of the following is an example of hardware?

An automobile parts retailer purchases merchandise inventory on account.When using a manual accounting information system,this transaction is recorded in the ________.

In a typical computerized accounting information system,________.

When using a purchases journal,Accounts Payable is always credited.

Which of the following is true of the comparison between a manual and a computerized accounting information system?

An automobile parts retailer purchases merchandise inventory for cash.When using a manual accounting information system,this transaction is recorded in the ________.

Which of the following is true of source documents in an accounting information system?

Generally,all transactions are recorded in both a special journal and the general journal.

In the cash receipts journal,the Other Accounts CR column is used when a transaction involves a credit entry that is not listed in the headings (columns)of the cash receipts journal.

________ refers to purchasing software and data storage from a third party.

The accounting is the same regardless of whether a business uses a manual or a computerized accounting information system.

Introduction to Managerial Accounting

Job Order Costing

Process Costing

Cost Management Systems: Activity-Based, just-In-Time, and Quality Management Systems

Cost-Volume-Profit Analysis

Variable Costing

Master Budgets

Flexible Budgets and Standard Cost Systems

Responsibility Accounting and Performance Evaluation

Short-Term Business Decisions

Capital Investment Decisions

Filters