Question 1

Which of the following defines a source document?

Accepted Answer

A)  An essential data element 
B)  A document that captures data about transactions and other events 
C)  The electronic capture of data 
D)  A listing of general ledger entries 
A)  An essential data element 
B)  A document that captures data about transactions and other events 
C)  The electronic capture of data 
D)  A listing of general ledger entries

Question 2

What is the main advantage of special journals in a paper-based accounting system?

Accepted Answer

A)  Reduction in time required 
B)  Increased computer processing speed 
C)  Reduction in documentation required 
D)  Decreased emphasis on controls 
A)  Reduction in time required 
B)  Increased computer processing speed 
C)  Reduction in documentation required 
D)  Decreased emphasis on controls

Question 3

What type of account in the general ledger has a related subsidiary ledger?

Accepted Answer

A)  Detail 
B)  Chart 
C)  Control 
D)  General 
A)  Detail 
B)  Chart 
C)  Control 
D)  General

Question 4

A journal is a listing in chronological order that is created to record a particular type of transaction.

Accepted Answer

A) True 
 B)False

Question 5

What file in a computerized accounting system corresponds to a sub-ledger (such as accounts receivable) 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 happens to the size (number of records) of the open customer invoice file when it is updated to reflect the customer's payment of an outstanding invoice?

Accepted Answer

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

Question 7

Each control account in the general ledger has one subsidiary ledger that contains several accounts.

Accepted Answer

A) True 
 B)False

Question 8

Give an example of a numbering system for a chart of accounts.

Accepted Answer

1000 - 1999 - Assets
2000 - 29

Question 9

Accountants and other users are generally concerned with which type of file organization?

Accepted Answer

A)  Logical 
B)  Physical 
C)  Functional 
D)  Magnetic 
A)  Logical 
B)  Physical 
C)  Functional 
D)  Magnetic

Question 10

What file in a computerized accounting system corresponds to a paper 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 11

In which of the following journal(s) would a cash sale be recorded?

Accepted Answer

A)  Sales 
B)  Cash disbursements 
C)  Cash receipts 
D)  Both A and C 
A)  Sales 
B)  Cash disbursements 
C)  Cash receipts 
D)  Both A and C

Question 12

Which data element most likely would not be included in the Investment Securities master file?

Accepted Answer

A)  Security code 
B)  Cost 
C)  Name 
D)  Purchase order number 
A)  Security code 
B)  Cost 
C)  Name 
D)  Purchase order number

Question 13

Which of the following are essential data elements in a customer master file?

Accepted Answer

A)  Customer code, name, address, customer type, credit limit, credit terms, account balance beginning of year, year-to-date sales, year-to-date payments, amount owing 
B)  Vendor code, name, address, credit limit, credit terms, account balance, year-to date purchases, amount owed 
C)  Employee code, name, address, spouse/dependents, job skills, pay rate, birth date, deductions code, insurance 
D)  Security code, name, number of shares/units, purchase date, cost, interest/dividends received 
A)  Customer code, name, address, customer type, credit limit, credit terms, account balance beginning of year, year-to-date sales, year-to-date payments, amount owing 
B)  Vendor code, name, address, credit limit, credit terms, account balance, year-to date purchases, amount owed 
C)  Employee code, name, address, spouse/dependents, job skills, pay rate, birth date, deductions code, insurance 
D)  Security code, name, number of shares/units, purchase date, cost, interest/dividends received

Question 14

Explain the difference in a general ledger and a subsidiary ledger.

Accepted Answer

The general ledger is a collection of al

Which of the following defines a source document?

What is the main advantage of special journals in a paper-based accounting system?

What type of account in the general ledger has a related subsidiary ledger?

A journal is a listing in chronological order that is created to record a particular type of transaction.

What file in a computerized accounting system corresponds to a sub-ledger (such as accounts receivable) in a paper-based system?

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

Each control account in the general ledger has one subsidiary ledger that contains several accounts.

Give an example of a numbering system for a chart of accounts.

Accountants and other users are generally concerned with which type of file organization?

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

In which of the following journal(s) would a cash sale be recorded?

Which data element most likely would not be included in the Investment Securities master file?

Which of the following are essential data elements in a customer master file?

Explain the difference in a general ledger and a subsidiary ledger.

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

Which of the following defines a source document?

What is the main advantage of special journals in a paper-based accounting system?

What type of account in the general ledger has a related subsidiary ledger?

A journal is a listing in chronological order that is created to record a particular type of transaction.

What file in a computerized accounting system corresponds to a sub-ledger (such as accounts receivable) in a paper-based system?

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

Each control account in the general ledger has one subsidiary ledger that contains several accounts.

Give an example of a numbering system for a chart of accounts.

Accountants and other users are generally concerned with which type of file organization?

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

In which of the following journal(s) would a cash sale be recorded?

Which data element most likely would not be included in the Investment Securities master file?

Which of the following are essential data elements in a customer master file?

Explain the difference in a general ledger and a subsidiary ledger.

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