5. Who controls user access and monitors user activity?A. Individual usersB. Master SupervisorC. ComptrollerD. Master Administrator6. What account type is considered a liability?A. Fixed AssetsB. Accounts ReceivableC. BankD. Accounts Payable7. Opening balances are entered:A. via the Gear menuB. on the day the expenses were incurredC. on the Chart of AccountsD. as a Journal Entry or directly into the account register

Correct option is (D) Master administrator. Master administrator is a person who is also known as…

. Master Supervisor E. Comptroller . Master Administrator What account type is considered a liability? Fixed Assets Accounts Receivable Bank . Accounts Payable Opening balances are entered: - via the Gear menu . on the day the expenses were incurred on the Chart of Accounts lournal Entry or directiv into the cCount register

. Master Supervisor E. Comptroller . Master Administrator What account type is considered a liability? Fixed Assets Accounts Receivable Bank . Accounts Payable Opening balances are entered: - via the Gear menu . on the day the expenses were incurred on the Chart of Accounts lournal Entry or directiv into the cCount register

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter2: The Accounting Information System

Section: Chapter Questions

Problem 14MCQ: Posting: involves transferring the information in journal entries to the general ledger. is an...

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Similar questions

Using the following revenue journal for Zeta Services Inc., identify each of the posting references, indicated by a letter, as representing (1) posting to general ledger accounts or (2) posting to subsidiary ledger accounts:
Posting: involves transferring the information in journal entries to the general ledger. is an optional step in the accounting cycle. is performed after a trial balance is prepared. involves transferring information to the trial balance.
Identify whether the following transactions would be recorded with a debit (Dr) or credit (Cr) entry. Indicate the normal balance of the account. Table 3.20
Identify whether ongoing transactions posted to the following accounts would normally have only debit entries (Dr), only credit entries (Cr), or both debit and credit entries (both). Table 3.9
The T-account is used to summarize which of thefollowing?a. Increases and decreases to a single account in theaccounting system.b. Debits and credits to a single account in the accountingsystem.c. Changes in specific account balances over a timeperiod.d. All of the above describe how T-accounts are used byaccountants.
2. A credit memo received from the branch is recorded by the home office as a. Credit to home office account b. Credit to allocated expense c.Credit to investment account d. Debit to investment account
PA4. Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable.
15 - What is the name of the accounts that are used to monitor the changes in resources and give the remainder?A) ACTIVE ACCOUNTSB) PASSIVE ACCOUNTSC) EXPENSE ACCOUNTSD) INCOME ACCOUNTSE) OPEN ACCOUNT
6. Checking vouchers for details of a business transaction can be related to A) Trial balance preparation and adjustments B) Reporting C) Recording D) Identifying and analyzing
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
Most computerized accounting systems use electronic forms to record transaction information, such as the invoice form illustrated at the top of Exhibit 7 in this chapter.a. Identify the key input fields (spaces) in an electronic invoice form.b. What accounts are posted from an electronic invoice form?c. Why aren’t special journal totals posted to control accounts at the end of the month in an electronic accounting system?
Studypug.com Recliner Company wants to verify that all of its accounts are in balance. Which of the following will be prepared for this purpose? a.Balance sheet b.General ledger c.Trial balance d.Chart of accounts