Question 1

Which of the following is a disadvantage of enterprise resource planning (ERP)systems?

Accepted Answer

A)  It is not beneficial to large companies. 
B)  It is not supported by cloud computing. 
C)  Its implementation requires a large commitment of time and people. 
D)  It uses separate software systems, such as sales and payroll. 
A)  It is not beneficial to large companies. 
B)  It is not supported by cloud computing. 
C)  Its implementation requires a large commitment of time and people. 
D)  It uses separate software systems, such as sales and payroll.

Question 2

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

Question 3

The sale of merchandise inventory for cash is recorded in the ________.

Accepted Answer

A)  general journal 
B)  cash receipts journal 
C)  sales journal 
D)  accounts receivable journal 
A)  general journal 
B)  cash receipts journal 
C)  sales journal 
D)  accounts receivable journal

Question 4

Which of the following is NOT typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?

Accepted Answer

A)  Interest Revenue CR column 
B)  Cost of Goods Sold DR, Merchandise Inventory CR column 
C)  Sales Revenue CR column 
D)  Sales Discounts Forfeited CR column 
A)  Interest Revenue CR column 
B)  Cost of Goods Sold DR, Merchandise Inventory CR column 
C)  Sales Revenue CR column 
D)  Sales Discounts Forfeited CR column

Which of the following is a disadvantage of enterprise resource planning (ERP)systems?

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

The sale of merchandise inventory for cash is recorded in the ________.

Which of the following is NOT typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?

Accounting and the Business Environment

Recording Business Transactions

The Adjusting Process

Completing the Accounting Cycle

Merchandising Operations

Merchandise Inventory

Internal Control and Cash

Receivables

Plant Assets,natural Resources,and Intangibles

Current Liabilities and Payroll

Partnerships

Corporations

Long-Term Liabilities

Investments

The Statement of Cash Flows

Financial Statement Analysis

Introduction to Managerial Accounting

Job Order Costing

Process Costing

Cost-Volume-Profit Analysis

Master Budgets

Flexible Budgets and Standard Cost Systems

Cost Allocation and Responsibility Accounting

Short-Term Business Decisions

Capital Investment Decisions

Filters

Exam 7: Accounting Information Systems

Which of the following is a disadvantage of enterprise resource planning (ERP)systems?

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

The sale of merchandise inventory for cash is recorded in the ________.

Which of the following is NOT typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?

Accounting and the Business Environment

Recording Business Transactions

The Adjusting Process

Completing the Accounting Cycle

Merchandising Operations

Merchandise Inventory

Internal Control and Cash

Receivables

Plant Assets,natural Resources,and Intangibles

Current Liabilities and Payroll

Partnerships

Corporations

Long-Term Liabilities

Investments

The Statement of Cash Flows

Financial Statement Analysis

Introduction to Managerial Accounting

Job Order Costing

Process Costing

Cost-Volume-Profit Analysis

Master Budgets

Flexible Budgets and Standard Cost Systems

Cost Allocation and Responsibility Accounting

Short-Term Business Decisions

Capital Investment Decisions

Filters