Question 1

What file in a computerized accounting system corresponds to a paper general ledger in a paper-based system?

Accepted Answer

A)  Transaction file 
B)  Master file 
C)  Open file 
D)  Program file 
A)  Transaction file 
B)  Master file 
C)  Open file 
D)  Program file B

Question 2

Which of the following is (are) an example(s) of an open file in a computerized system?

Accepted Answer

A)  Purchase order 
B)  Sales order 
C)  Vendor invoice 
D)  All of these are examples of an open file 
A)  Purchase order 
B)  Sales order 
C)  Vendor invoice 
D)  All of these are examples of an open file D

Question 3

Which of the following is a use of the chart of accounts reference file?

Accepted Answer

A)  To store data about completed transactions 
B)  To determine if an account number is valid 
C)  To store data about incomplete transactions 
D)  To store temporary data for processing 
A)  To store data about completed transactions 
B)  To determine if an account number is valid 
C)  To store data about incomplete transactions 
D)  To store temporary data for processing B

Question 4

In a computerized accounting system, an open file represents documents awaiting further processing in a paper-based system.

Accepted Answer

A) True 
 B)False

Question 5

What happens to the size (number of records) of the customer master file when it is updated to reflect the customer's payment of an outstanding invoice?

Accepted Answer

A)  Decreases 
B)  Increases 
C)  Remains the same 
D)  Cannot be determined 
A)  Decreases 
B)  Increases 
C)  Remains the same 
D)  Cannot be determined

Question 6

What is the main purpose of a general ledger master file?

Accepted Answer

A)  To store account balances to be presented in reports 
B)  To match up account numbers in files 
C)  To store temporary records pertaining to a group of like transactions 
D)  To store detailed information about subsidiary ledger control accounts 
A)  To store account balances to be presented in reports 
B)  To match up account numbers in files 
C)  To store temporary records pertaining to a group of like transactions 
D)  To store detailed information about subsidiary ledger control accounts

Question 7

Which of the following methods can be used to create a transaction file?

Accepted Answer

A)  Keying in or scanning data found on source documents 
B)  Transmitting data electronically 
C)  Extracting data from master files or open files 
D)  All of the above can be used. 
A)  Keying in or scanning data found on source documents 
B)  Transmitting data electronically 
C)  Extracting data from master files or open files 
D)  All of the above can be used.

Question 8

Some examples of elements of a paper-based accounting system include accounts, chart of accounts, ledgers, and outputs.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following data elements are essential in a journal?

Accepted Answer

A)  Transaction date, explanation, and dollar amount of each debit and credit 
B)  Dollar amount of each debit and credit, account name and number, and explanation 
C)  Transaction date, dollar amount of each debit and credit, and account name and number 
D)  Account name and number, transaction date, and unique identifier for the transaction 
A)  Transaction date, explanation, and dollar amount of each debit and credit 
B)  Dollar amount of each debit and credit, account name and number, and explanation 
C)  Transaction date, dollar amount of each debit and credit, and account name and number 
D)  Account name and number, transaction date, and unique identifier for the transaction

Question 10

The source documents and outputs are very similar in paper-based and computerized accounting systems.

Accepted Answer

A) True 
 B)False

Question 11

What type of file is set up during a processing operation and is purged when the operation is completed?

Accepted Answer

A)  Backup file 
B)  Archive file 
C)  Scratch file 
D)  Program file 
A)  Backup file 
B)  Archive file 
C)  Scratch file 
D)  Program file

Question 12

What file in a computerized accounting system corresponds to a pending file in a paper-based system?

Accepted Answer

A)  Transaction file. 
B)  Master file. 
C)  Open file. 
D)  Reference file. 
A)  Transaction file. 
B)  Master file. 
C)  Open file. 
D)  Reference file.

Question 13

Identify and describe the four types of files in a computerized accounting system.

Accepted Answer

A scratch file is set up during a proces

Question 14

Which file stores data to be used repeatedly for processing transactions?

Accepted Answer

A)  Reference file 
B)  Open file 
C)  Program file 
D)  Master file 
A)  Reference file 
B)  Open file 
C)  Program file 
D)  Master file

Question 15

A ledger lists transactions in chronological order and is considered "the book of original entry."

Accepted Answer

A) True 
 B)False

Question 16

What file in a computerized accounting system corresponds to a special journal in a paper-based system?

Accepted Answer

A)  Transaction file. 
B)  Master file. 
C)  Open file. 
D)  Reference file. 
A)  Transaction file. 
B)  Master file. 
C)  Open file. 
D)  Reference file.

Question 17

Which of the following financial statements reports the profitability of an organization for a stated period of time such as a month or a year?

Accepted Answer

A)  Statement of Changes in Ownership Equity 
B)  Statement of Income 
C)  Balance Sheet 
D)  Statement of Cash Flows 
A)  Statement of Changes in Ownership Equity 
B)  Statement of Income 
C)  Balance Sheet 
D)  Statement of Cash Flows

Question 18

Which of the following can save time in recording and posting a credit sale?

Accepted Answer

A)  General journal 
B)  Purchases journal 
C)  Payroll journal 
D)  Sales journal 
A)  General journal 
B)  Purchases journal 
C)  Payroll journal 
D)  Sales journal

Question 19

What happens to the size (number of records) of the cash receipts transaction file when a cash receipt for a customer invoice is posted?

Accepted Answer

A)  Stays the same 
B)  Cannot be determined 
C)  Increases 
D)  Decreases 
A)  Stays the same 
B)  Cannot be determined 
C)  Increases 
D)  Decreases

Question 20

Discuss the significant similarities between paper-based accounting systems and computerized accounting systems.

Accepted Answer

An accounting system, whether paper-base

What file in a computerized accounting system corresponds to a paper general ledger in a paper-based system?

Which of the following is (are) an example(s) of an open file in a computerized system?

Which of the following is a use of the chart of accounts reference file?

In a computerized accounting system, an open file represents documents awaiting further processing in a paper-based system.

What happens to the size (number of records) of the customer master file when it is updated to reflect the customer's payment of an outstanding invoice?

What is the main purpose of a general ledger master file?

Which of the following methods can be used to create a transaction file?

Some examples of elements of a paper-based accounting system include accounts, chart of accounts, ledgers, and outputs.

Which of the following data elements are essential in a journal?

The source documents and outputs are very similar in paper-based and computerized accounting systems.

What type of file is set up during a processing operation and is purged when the operation is completed?

What file in a computerized accounting system corresponds to a pending file in a paper-based system?

Identify and describe the four types of files in a computerized accounting system.

Which file stores data to be used repeatedly for processing transactions?

A ledger lists transactions in chronological order and is considered "the book of original entry."

What file in a computerized accounting system corresponds to a special journal in a paper-based system?

Which of the following financial statements reports the profitability of an organization for a stated period of time such as a month or a year?

Which of the following can save time in recording and posting a credit sale?

What happens to the size (number of records) of the cash receipts transaction file when a cash receipt for a customer invoice is posted?

Discuss the significant similarities between paper-based accounting systems and computerized accounting systems.

Significance of Accounting Information Systems and the Accountants Role

Accounting Systems Documentation

Data Flows, Activities, and Structure of Accounting Systems

Reporting Process, Coding Methods, and Audit Trails

Internal Control and Risk Assessment

Control Activities

The Financial Process

The Revenue Process

The Purchasing Process

The Inventory Process

Database Structure of Accounting Systems

Developing a Relational Database for an Accounting Information System

Electronic Business

Ais Selection and Implementation

Filters

Exam 3: Essential Elements and Basic Activities of Accounting Systems

What file in a computerized accounting system corresponds to a paper general ledger in a paper-based system?

Which of the following is (are) an example(s) of an open file in a computerized system?

Which of the following is a use of the chart of accounts reference file?

In a computerized accounting system, an open file represents documents awaiting further processing in a paper-based system.

What happens to the size (number of records) of the customer master file when it is updated to reflect the customer's payment of an outstanding invoice?

What is the main purpose of a general ledger master file?

Which of the following methods can be used to create a transaction file?

Some examples of elements of a paper-based accounting system include accounts, chart of accounts, ledgers, and outputs.

Which of the following data elements are essential in a journal?

The source documents and outputs are very similar in paper-based and computerized accounting systems.

What type of file is set up during a processing operation and is purged when the operation is completed?

What file in a computerized accounting system corresponds to a pending file in a paper-based system?

Identify and describe the four types of files in a computerized accounting system.

Which file stores data to be used repeatedly for processing transactions?

A ledger lists transactions in chronological order and is considered "the book of original entry."

What file in a computerized accounting system corresponds to a special journal in a paper-based system?

Which of the following financial statements reports the profitability of an organization for a stated period of time such as a month or a year?

Which of the following can save time in recording and posting a credit sale?

What happens to the size (number of records) of the cash receipts transaction file when a cash receipt for a customer invoice is posted?

Discuss the significant similarities between paper-based accounting systems and computerized accounting systems.

Significance of Accounting Information Systems and the Accountants Role

Accounting Systems Documentation

Data Flows, Activities, and Structure of Accounting Systems

Reporting Process, Coding Methods, and Audit Trails

Internal Control and Risk Assessment

Control Activities

The Financial Process

The Revenue Process

The Purchasing Process

The Inventory Process

Database Structure of Accounting Systems

Developing a Relational Database for an Accounting Information System

Electronic Business

Ais Selection and Implementation

Filters