Which of the following forms cannot be customized? Select one: A. Estimate B. Sales Receipt C. Credit memo D. Invoice

Q: How does the “Enter Bills & Pay Bills” feature differ from the “write check” feature

A:

Q: The accounting system will not post a sales transaction to the sales journal withouta valid bill of…

A: Sales Journal: Sales journal is one form of special journal book, which records all the sales…

Q: Which one of the following documents is not needed to process a payment to a vendor?A. vendor…

A: Purchases of material and inventory is very important for the business. Payment for purchases can be…

Q: The process of transferring the debit and credit information from the journal to individual accounts…

A: Journalizing is  the first step of accounting and involves recording a  business financial…

Q: What is the billing and collection process flow? Group of answer choices 1. If the customer is a new…

A: Billing process flow involves many steps like setting up the product code then setting up customer…

Q: A. What document is used to create the Sales Order in the Revenue Cycle and where does itcome from?…

A: Answer a: Sales order is created by using a document formed by SAP.

Q: Which files do you usually find in a sales order module versus an account receivable (customer…

A: The sales order module contains an open sales order which is an internal document issued by seller…

Q: Identify if the two statements are either true or false. 1. The bill of lading is a document…

A: The given statement answer is given in the below step.

Q: Which common workflow error can cause duplicate expenses in QuickBooks Online? -Create a purchase…

A: Normal process for recording service bill is PO generating, invoice posting and vendor payment…

Q: The control procedure “credit sales approved by credit department” is directed toward which…

A: Existence assertion relates to asserting if the transaction has actually taken place. Completeness…

Q: What is the correct journal entry to record when transfer the total of the purchase daybook the…

A: Option:: Payables ledger control account Dr:::XXX..         To purchases account XXXX....

Q: Why do companies use sequential prenumbering for documents such as checks, sales invoices, and…

A: Pre numbered documents are a main feature of an internal control system. The pre numbering of…

Q: Match the term in the left column with its definition in the right column. 1. CRM system a. Document…

A: Bill of lading is a  shipping document which mentions the quantity of goods shipped, and the sender…

Q: Distinguish between the sales order, billing, and AR departments. Why can’t the sales order or AR…

A: The sales order, billing and AR department are responsible for placing the orders from the…

Q: Customer sales should only be recorded usin

A: Customer sales should only be recorded using Sales Receipts or Invoices .

Q: Which one of the following documents is not needed to process a payment to a vendor? Group of answer…

A: Solution: - the following documents is not needed to process a payment to a vendor.

Q: Which is not a book reconciling items? A. Credit Memo B. NFS Checks C. Debit Memo D. Outstanding…

A: The bank reconciliation statement is prepared to to record and equate the book balance and bank…

Q: Sales revenue should be recognized when: a. sales are invoiced. b. payment is received from the…

A: The total amount of income created by the sale of goods or services is referred to as Sales revenue.…

Q: In a manual accounting system, what advantage does the journal voucher system have over the…

A: Journal  Voucher Journal voucher is a special source of document which has been replaced for general…

Q: Which of the following is a control objective over sales? O a. None of the options O b. Compare…

A: The question is multiple choice question regarding control objective over sales.

Q: The Accounts Receivable subsidiary ledger is updated (increased and decreased) by using which of the…

A: Accounts Receivables - Accounts Receivables are the amount unpaid by the customer for the service…

Q: how is credit check in advance technology is different from credit check in basic technology

A:

Q: Which of the following tests is directed towards the management assertion of completeness of sales?…

A: It is one of the fundamental accounting principles that costs and revenues should be recognized as…

Q: When a cxompany extends credit directly to a customer for a purchase, the sale is recorded as a…

A: Sales can be in cash or credit. Cash sales amount is received immediately and credit sales amount is…

Q: Question 2 All of the following controls can ensure input validity of shipping notice, except? O…

A: The answer is provided as follows:

Q: Multiple-Choice Questions 3. Which function should the billing department NOT perform? a. record…

A: Billing department collects all the bill of the company and responsible for the profitability of the…

Q: Please tell us about Sales Discounts.  Why are they necessary?  Does this account appear on the…

A: Discount is the amount of reduction in the value of sale or purchase. In other words, discount in…

Q: A. Occurrence B. Completeness C. Rights and obligations D. Allocation or valuation E. Classification…

A: Solution:- Identify each of the following control activities and identify the management assertion…

Q: Enter the letter for each term in the blank space beside the definition that it most closely…

A: Sales discount : The discount given by the seller of goods and services to the buyer for promoting…

Q: A credit memo states the amount of a sales allowance or return

A: Credit memo is a document issued by the seller of the goods to the buyer as a source document

Q: Why should the function of requisitioning the purchase of goods be segregated from the function of…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: 3. Give at least one example of each Merchandise transaction for a) Receipt b) Sales Invoice…

A: Merchandise transaction means transaction related to purchase and sale of inventory.

Q: Which of the following functions is not included in the typical expenditure cycle involving goods?…

A: Expenditure cycle refers to specific period related to acquisition of and payment of goods and…

Q: Why does billing receive a copy of the sales order when the order is approved but does not bill…

A:

Q: Briefly explain the difference between a sales receipt and an invoice in QuickBooks

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Which files do you usually find in a sales order module versus an accounts receivable (customer)…

A: Sale is the outflow of the commodities or the inventory held with the business entity to generate…

Q: Which of the following is an example of a contra revenue account?A. salesB. merchandise inventoryC.…

A: This account book transaction would be linked to certain associated accounts of a different sort.…

Q: Which one of the following departments does not have a copy of the purchase order?a. the purchasing…

A: Answer:   Option d.

Q: What is the purpose of the Purchase Returns and Allowances account? Why not just record a purchase…

A: Purchase accounts are used in periodic inventory system as a general ledger account in which…

Q: True or False: The posting of purchase transactions to the general ledger is done in the same manner…

A: Purchase transactions are the transactions relating to the procurement of goods from the party…

Q: r and shipping document?  O Invoice price, vendor, delivery date, quantity. O Invoice date,…

A: A three-way matching refers to the process that involves matching the desired purchase orders,…

Q: Which of the following documents associated with the purchases and cash disbursements cycle is most…

A: Answer:-  Journal entry meaning:- A journal entry is the act of recording or keeping track of any…

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.