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

Q: Explain in detail and also give example. Business Entity concept

A: Accounting concepts: Accounting concepts laid the foundation for recording all the financial…

Q: Define sales journal.

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: What are the two types of inventory accounting systems? Briefly describe each.

A: Inventory Accounting Systems: Merchandise operation is an operation undertaken by the company to…

Q: Give a description of the posting events on purchasing processes and their results in accounting…

A: Here given the details of Posting events on Purchases process and it result into the accounting…

Q: two methods of acquiring accounting information sysytem, and list there disdvantages and advantages

A: Accounting information systems is a system of collection, processing and storage of accounting and…

Q: Draw a diagram depicting the relationship between the general ledger master file, control accounts,…

A: Relationship between the general ledger master file, control accounts, subsidiary files, and…

Q: What document intiates the sales process

A: Answer: Sales order procedures involves accepting a customer order and processing it, filling the…

Q: Which of the following is true? a. REA diagram entities are arranged in constellations by entity…

A: REA Diagram:   REA diagram is a technique used to establish the relationship between resource,…

Q: Subsidiary ledgers in merchandising business?

A: A subsidiary ledger is a subset to the general ledger and it contains the details to support a…

Q: Define and explain subsidiary ledgers in merchandising business?

A: Subsidiary ledgers are the ledgers that contain information about specific control accounts in…

Q: What document signals that a company should record thepurchase of goods on account?a. Purchase…

A:

Q: All of the following functions are normally found within an organization's sales/collection except:…

A: An entity involved in sale of merchandise has to keep a track of multiple functions such as receipt…

Q: What is the business name of the vendor (seller)? How do you know this? (using the image)

A: Here in this question, we are required to answer the name of seller. Seller is the person who sells…

Q: organization chart is

A: Organizational chart represents it's structure and defines the relationship between each executives…

Q: Define accounting information system.

A: Accounting Information System (AIS) is a computer-based system used by decision makers to collect,…

Q: Define each of the following terms:e. Purchase accounting

A: Purchase accounting: Purchase accounting is the process of reviewing the liabilities and assets of a…

Q: QUIRED: Identify business and nonbusiness transactions

A: Business transactions are identified as economic events that are made with a third party and these…

Q: differentiate internal user from external user of accounting information

A: Accounting is the detailed process of recording, classifying, summarising and reporting accounting…

Q: Which of the following statements best explains the relationship between the acquisition/payment…

A: Solution Explanation - Sales collection process is a series of operating events that collectively…

Q: Prepare an entity relationship diagram, in good form, for the expenditure cycle, which consists of…

A:

Q: What are source documents? Provide examples of source documents that a business might use.

A:

Q: plogically record a business's

A: To explain the record of business debit and credit transactions.

Q: Individual customer accounts are kept in a ledger O purchase ledger O sales ledger O general ledger…

A: Solution: Individual customer accounts are kept in a ledger called a "Subsidiary ledger".

Q: For each of the following processes, state whether OLTP or OLAP is appropriate, and why. a. An…

A:

Q: Enumerate some accounting information system input devices and indicate its purpose, including how…

A: Accounting Information system basically involves use of modern computer technology in accounting to…

Q: The outputs of a computerized accounting information system are called a. reports. b. software. c.…

A: Computerized accounting includes using the computers and accounting software for recording, storing…

Q: Use the information from the T account to journalize the transaction from the vendors perspective.

A: Journal means the book of prime entry where all entries are recorded in different pages. Journal…

Q: What general ledger journal entries does the purchases system trigger? From which departments do…

A: Purchasing System: The identification and procurement of the inventory needs for the organization is…

Q: Which of the following options best describes TVU's accounting information system (AIS)? Select one:

A: The answer for the multiple choice question and relevant explanation are presented hereunder :…

Q: What different accounting transaction process needs a data warehouse? Why?

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: A relational database system contains the following inventory data: part number, description,…

A:

Q: Explain the difference between external transactions and internal transactions. If a company…

A: Difference between external events, and internal events:  • External events are the events which…

Q: Micro-business entities can use which basis of accounting

A: Micro business entities have the option to us any of the following basis of accounting in the…

Q: Explain the model business coporation act.

A: Corporation: A corporation is a form of business entity that is incorporated through the state…

Q: For each of the following items, indicate whether a sequential, block, group, alphabetic, or…

A: State Codes - Alphabetic Code - Because it corresponds to abbreviation of postal Service.  Check…

Q: Explain business entity concept in detail with example.

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: 18-Which of the following is an example of Source document? a. Sales Ledger b. Invoice c. Assets…

A: Some common examples of source documents include sales receipts, checks, purchase orders, invoices,…

Q: Please summarize of the given above of (purchase cycle system )of the company

A: Purchase cycle system= For companies of all sizes, from local small businesses to global megacorps,…

Q: What is a walkthrough of a sales transaction? How can the walkthrough work complement the use of an…

A: Internal control- It is a process of assuring to achieve organizational's objectives by doing…

Q: Discuss what forms of relevant information are applicable for business decisions related to Make or…

A: Decision making model: A general approach to tactical decision making includes : Define the…