ACC-315 Problem Set 1 Question 1

MULTIPLE CHOICE 1. This process refers to the reporting of the information processed in the accounting system to interested users. A. Journalizingh B. Communicating C. Debiting D. Videoing 2. What is the normal balance of the sales returns account? A. Zero B. Credit C. Debit D. None of these

A1  which of the following actions update/ record is: a master file, transactions file, special journal, general journal, general ledger or subsidiary ledger: a. record sales transactions on a manual accounting system. b. record adjusting journal entry on a manual accounting system which of the following actions update/ record is: a master file, transactions file, special journal, general journal, general ledger or subsidiary ledger   a. record sales transactions on a manual accounting syste   b. record adjusting journal entry on a manual accounting systemm.:

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Revenue Cycle –CLO 2 a. Give three examples of access control in a point-of-sale (POS) system. a. Discuss how the nature of the necessary internal control features is affected by switching from a manual system to a large-scale computer-based accounting system.

9:44 Mc Graw Hill Which of the following is an external user of accounting information? Multiple Choice Purchasing manager. Human resource manager. Lender. Chief executive officer (CEO). Marketing manager. Help Sav

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13-Which of the following will be not be called as Source Document of a Business? a. List of suppliers are kept under Purchase ledger by the business b. Debit note raised by the business c. Sales invoice issued by the business d. Purchase invoice received by the business

Define the following in relation to sage accounting pastel system 1. Computerized accounting system 2. Transaction processing system 3. Stock taking 4. Ageing 5. Supplier remittance 6. Bill of material

QUESTION 25 One of the reasons that businesses use accounting is it: O a. supplies information that permits informed judgements and decisions Ob.s casy to understand product information Ocs required by the government d. is a simple way to track company performance

these multiple choice Questions from ACCOUNTING PRINCIPLES 1 Course.I need the final answer.

Which of the following is an agent in a purchases and payments structure model? Question 6Answer a. Cash disbursement b. Inventory c. Employee labour d. Supplier e. Receipt of goods

solution needed

Which of the accounting controls ensure that a company's resources are used efficiently and economically? Select one: a. All of the available choices b. Making use of any payment discounts that are available c. Paying bills on time Od. Bidding for suppliers

What is the most common type of customer statement? Select an answer: transaction balance forward open item

Shown here is a partial entity-relationship diagram of a purchase system. Describe the business rules represented by the cardinalities in the diagram.