Question 1

Use the following purchases journal to record the preceding transactions.

Accepted Answer

The answer of   
Use the following purchases journal...

Question 2

Examples of source documents in an accounting information system include the statement of cash flows and sales journal.

Accepted Answer

A) True 
 B)False

Question 3

Hardware is electronic equipment that includes computers,monitors,printers,and the network that connects them.

Accepted Answer

A) True 
 B)False

Question 4

An accounting information system is said to be relevant,if it ________.

Accepted Answer

A) works smoothly with the business's employees and organizational structure 
B) safeguards a business's assets and reduces the likelihood of fraud and errors 
C) provides information that will improve decision making and reduce uncertainty 
D) accommodates changes in the business over time 
A) works smoothly with the business's employees and organizational structure 
B) safeguards a business's assets and reduces the likelihood of fraud and errors 
C) provides information that will improve decision making and reduce uncertainty 
D) accommodates changes in the business over time

Question 5

In cloud computing,the software and data are stored on the company's server instead of a third-party server.

Accepted Answer

A) True 
 B)False

Question 6

Every transaction recorded in the cash receipts journal includes a ________.

Accepted Answer

A) credit to Cash 
B) debit to Accounts Receivable 
C) credit to Accounts Receivable 
D) debit to Cash 
A) credit to Cash 
B) debit to Accounts Receivable 
C) credit to Accounts Receivable 
D) debit to Cash

Question 7

Enterprise resource planning systems are software systems that can integrate all of a company's functions,departments,and data into a single system.

Accepted Answer

A) True 
 B)False

Question 8

Because of the risk of fraud,electronic invoices and electronic receiving reports are seldom used in accounting information systems.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following are debit columns in a typical cash payments journal?

Accepted Answer

A) Merchandise Inventory column and Cash column 
B) Other Accounts column and Accounts Payable column 
C) Merchandise Inventory column and Accounts Payable column 
D) Other Accounts column and Cash column 
A) Merchandise Inventory column and Cash column 
B) Other Accounts column and Accounts Payable column 
C) Merchandise Inventory column and Accounts Payable column 
D) Other Accounts column and Cash column

Question 10

________ 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 11

The purchases journal is a special journal that ________.

Accepted Answer

A) has special columns for credits to merchandise inventory 
B) is used to record all purchases of merchandise inventory 
C) has a special column for debits to accounts payable 
D) is used to record merchandise inventory,office supplies,and other assets purchased on account 
A) has special columns for credits to merchandise inventory 
B) is used to record all purchases of merchandise inventory 
C) has a special column for debits to accounts payable 
D) is used to record merchandise inventory,office supplies,and other assets purchased on account

Question 12

If there is cash involved in a business transaction,the transaction should be recorded in either the ________.

Accepted Answer

A) cash payments journal or cash receipts journal 
B) cash payments journal or general journal 
C) cash payments journal or cash receipts journal and in general journal 
D) sales journal or purchases journal 
A) cash payments journal or cash receipts journal 
B) cash payments journal or general journal 
C) cash payments journal or cash receipts journal and in general journal 
D) sales journal or purchases journal

Question 13

The purchases journal is a special journal used to record all purchases of merchandise inventory,office supplies,and other assets on account.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is an example of a storage device in an accounting information system?

Accepted Answer

A) monitor 
B) network 
C) printer 
D) server 
A) monitor 
B) network 
C) printer 
D) server

Question 15

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 16

Cameron Enterprises uses special journals.The company borrowed $10,000 from First Bank.This transaction is recorded in the ________.

Accepted Answer

A) general journal 
B) debt journal 
C) cash receipts journal 
D) cash payments journal 
A) general journal 
B) debt journal 
C) cash receipts journal 
D) cash payments journal

Question 17

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 18

A company has four vendors and the accounts payable subsidiary ledger shows the following balances.
 
Calculate the accounts payable balance in the general ledger.

Accepted Answer

A) $422,295 
B) $542,425 
C) $275,821 
D) $266,604 
A) $422,295 
B) $542,425 
C) $275,821 
D) $266,604

Question 19

Which of the following is an example of a source document in a computerized accounting information system?

Accepted Answer

A) purchase invoices 
B) balance sheet 
C) cash payments journal 
D) income statement 
A) purchase invoices 
B) balance sheet 
C) cash payments journal 
D) income statement

Question 20

For each of the following business transactions,list two examples of related accounting information system (AIS)activities:

Accepted Answer

The answer of For each of the following business transactions,list...

Exam 7: Accounting Information Systems

Use the following purchases journal to record the preceding transactions.

Examples of source documents in an accounting information system include the statement of cash flows and sales journal.

Hardware is electronic equipment that includes computers,monitors,printers,and the network that connects them.

An accounting information system is said to be relevant,if it ________.

In cloud computing,the software and data are stored on the company's server instead of a third-party server.

Every transaction recorded in the cash receipts journal includes a ________.

Enterprise resource planning systems are software systems that can integrate all of a company's functions,departments,and data into a single system.

Because of the risk of fraud,electronic invoices and electronic receiving reports are seldom used in accounting information systems.

Which of the following are debit columns in a typical cash payments journal?

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

The purchases journal is a special journal that ________.

If there is cash involved in a business transaction,the transaction should be recorded in either the ________.

The purchases journal is a special journal used to record all purchases of merchandise inventory,office supplies,and other assets on account.

Which of the following is an example of a storage device in an accounting information system?

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

Cameron Enterprises uses special journals.The company borrowed $10,000 from First Bank.This transaction is recorded in the ________.

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

A company has four vendors and the accounts payable subsidiary ledger shows the following balances. Calculate the accounts payable balance in the general ledger.

Which of the following is an example of a source document in a computerized accounting information system?

For each of the following business transactions,list two examples of related accounting information system (AIS)activities:

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

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