Question 1

One of the essential elements of a paper-based accounting system is the posting of data.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following systems is one where the master and open files are posted, or updated, immediately?

Accepted Answer

A)  Microcomputer system 
B)  Mainframe computer system 
C)  Batch system 
D)  Real-time system 
A)  Microcomputer system 
B)  Mainframe computer system 
C)  Batch system 
D)  Real-time system

Question 3

Compare batch versus real-time posting. List one advantages of real-time posting and one advantage of batch posting. List 1 disadvantage of real-time posting and 1 disadvantage of batch posting. Indicate an area where real-time posting would be advantageous.

Accepted Answer

Real-time: immediate updates to informat

Question 4

Which of the following files is (are) updated by the sales transaction file?

Accepted Answer

A)  Customer master file 
B)  Sales order open file 
C)  Customer open invoice file 
D)  Inventory master file 
E)  All of these are updated by the sales transaction file E 
A)  Customer master file 
B)  Sales order open file 
C)  Customer open invoice file 
D)  Inventory master file 
E)  All of these are updated by the sales transaction file E

Question 5

What file in a computerized accounting system corresponds to documents awaiting further processing 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 6

What is another name for the accounts in a chart of accounts?

Accepted Answer

A)  Transaction accounts 
B)  Control accounts 
C)  Master accounts 
D)  General ledger accounts 
A)  Transaction accounts 
B)  Control accounts 
C)  Master accounts 
D)  General ledger accounts

Question 7

Compare batch versus real-time posting.

Accepted Answer

Batch processing involves posting or upd

Question 8

Which of the following defines sales (customer) invoice?

Accepted Answer

A)  A document that captures the data about a sale to a customer 
B)  A document that captures the data about a purchase from a vendor 
C)  A document used to bill a vendor 
D)  A written contract between a shipper and a carrier 
A)  A document that captures the data about a sale to a customer 
B)  A document that captures the data about a purchase from a vendor 
C)  A document used to bill a vendor 
D)  A written contract between a shipper and a carrier

Question 9

The following symbolic representation indicates a file update, or posting. 
What is the type of file on the left side of the posting process represented by the letter 	(b)?

Accepted Answer

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

Question 10

Which file can update a subsidiary ledger master file?

Accepted Answer

A)  Customer invoice open file 
B)  Customer master file 
C)  Transaction file 
D)  Inventory master file 
A)  Customer invoice open file 
B)  Customer master file 
C)  Transaction file 
D)  Inventory master file

Question 11

Identify four typical open files in a computerized accounting systems listed in the textbook.

Accepted Answer

Answer:
1. Sales order open fi

Question 12

In which area would real-time posting be most valuable in light of the added resources necessary to maintain a real-time system?

Accepted Answer

A)  Inventory 
B)  General ledger 
C)  Sales 
D)  Payroll 
A)  Inventory 
B)  General ledger 
C)  Sales 
D)  Payroll

Question 13

The general ledger master file stores information that supports both accounting and operating activities while the subsidiary ledger master files stores information that mainly supports accounting activities.

Accepted Answer

A) True 
 B)False

Question 14

In a computerized accounting system, master files represent journals in a paper-based system.

Accepted Answer

A) True 
 B)False

Question 15

Financial statements are presented in a particular format and contain certain data items as dictated by which of the following?

Accepted Answer

A)  Industry standards 
B)  Generally accepted accounting principles 
C)  The organization's accounting policies 
D)  All of the above 
A)  Industry standards 
B)  Generally accepted accounting principles 
C)  The organization's accounting policies 
D)  All of the above

Question 16

Which of the following defines a reference file in a computerized system?

Accepted Answer

A)  A file that stores data used repeatedly for processing transactions (e.g., payroll tax table) 
B)  A file that stores data on pending items such as sales orders 
C)  A file that stores detailed information about general ledger control accounts 
D)  A file that stores daily transaction data such as sales transactions 
A)  A file that stores data used repeatedly for processing transactions (e.g., payroll tax table) 
B)  A file that stores data on pending items such as sales orders 
C)  A file that stores detailed information about general ledger control accounts 
D)  A file that stores daily transaction data such as sales transactions

Question 17

What file in a computerized system is equivalent to the accounts payable subsidiary ledger in a manual system?

Accepted Answer

A)  Vendor master file 
B)  General ledger master file 
C)  Sales order open file 
A)  Vendor master file 
B)  General ledger master file 
C)  Sales order open file

Question 18

A bill of lading is a written contract between the shipper, the carrier engaged in the transportation of the goods, and the receiver of the goods.

Accepted Answer

A) True 
 B)False

Question 19

What file in a computerized accounting system corresponds to a pay rate table 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 20

Which of the following defines a transaction file?

Accepted Answer

A)  The equivalent of a subsidiary ledger in a manual system 
B)  A file that has one record for each inventory item 
C)  The equivalent of a journal in a manual system 
D)  The equivalent of a reference file in a manual system 
A)  The equivalent of a subsidiary ledger in a manual system 
B)  A file that has one record for each inventory item 
C)  The equivalent of a journal in a manual system 
D)  The equivalent of a reference file in a manual system

One of the essential elements of a paper-based accounting system is the posting of data.

Which of the following systems is one where the master and open files are posted, or updated, immediately?

Compare batch versus real-time posting. List one advantages of real-time posting and one advantage of batch posting. List 1 disadvantage of real-time posting and 1 disadvantage of batch posting. Indicate an area where real-time posting would be advantageous.

Which of the following files is (are) updated by the sales transaction file?

What file in a computerized accounting system corresponds to documents awaiting further processing in a paper-based system?

What is another name for the accounts in a chart of accounts?

Compare batch versus real-time posting.

Which of the following defines sales (customer) invoice?

The following symbolic representation indicates a file update, or posting. What is the type of file on the left side of the posting process represented by the letter (b)?

Which file can update a subsidiary ledger master file?

Identify four typical open files in a computerized accounting systems listed in the textbook.

In which area would real-time posting be most valuable in light of the added resources necessary to maintain a real-time system?

The general ledger master file stores information that supports both accounting and operating activities while the subsidiary ledger master files stores information that mainly supports accounting activities.

In a computerized accounting system, master files represent journals in a paper-based system.

Financial statements are presented in a particular format and contain certain data items as dictated by which of the following?

Which of the following defines a reference file in a computerized system?

What file in a computerized system is equivalent to the accounts payable subsidiary ledger in a manual system?

A bill of lading is a written contract between the shipper, the carrier engaged in the transportation of the goods, and the receiver of the goods.

What file in a computerized accounting system corresponds to a pay rate table in a paper-based system?

Which of the following defines a transaction file?

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

One of the essential elements of a paper-based accounting system is the posting of data.

Which of the following systems is one where the master and open files are posted, or updated, immediately?

Compare batch versus real-time posting. List one advantages of real-time posting and one advantage of batch posting. List 1 disadvantage of real-time posting and 1 disadvantage of batch posting. Indicate an area where real-time posting would be advantageous.

Which of the following files is (are) updated by the sales transaction file?

What file in a computerized accounting system corresponds to documents awaiting further processing in a paper-based system?

What is another name for the accounts in a chart of accounts?

Compare batch versus real-time posting.

Which of the following defines sales (customer) invoice?

The following symbolic representation indicates a file update, or posting. What is the type of file on the left side of the posting process represented by the letter (b)?

Which file can update a subsidiary ledger master file?

Identify four typical open files in a computerized accounting systems listed in the textbook.

In which area would real-time posting be most valuable in light of the added resources necessary to maintain a real-time system?

The general ledger master file stores information that supports both accounting and operating activities while the subsidiary ledger master files stores information that mainly supports accounting activities.

In a computerized accounting system, master files represent journals in a paper-based system.

Financial statements are presented in a particular format and contain certain data items as dictated by which of the following?

Which of the following defines a reference file in a computerized system?

What file in a computerized system is equivalent to the accounts payable subsidiary ledger in a manual system?

A bill of lading is a written contract between the shipper, the carrier engaged in the transportation of the goods, and the receiver of the goods.

What file in a computerized accounting system corresponds to a pay rate table in a paper-based system?

Which of the following defines a transaction file?

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