Final SUA Review 2023/2024 updated to pass

Final SUA Review Adjusting entries are prepared for which of the following a. record depreciation expense b. adjust payroll expense for wages earned but not yet paid c. record an inventory purchase d. a and b only - correct answer d. in the cash disbursements cycle, the vendor invoice is marked paid when a check is issues in order to a. avoid duplicate payment b. file the invoice alphabetically c. make the necessary entry in cash disbursement journal d. indicate the purchase is a fixed asset - correct answer a. at warren sports supply a completed credit sales transaction should be supported by a. a customer order, bill of lading, sales invoice b. a customer order, receiving report, sales invoice c. customer order, bill of lading, voucher, sales invoice d. customer order, bill of lading, receiving report, sales invoice - correct answer a. which of the following control procedures would most likely assure that goods shipped are billed? a. reviewing sales journal for sequential and unusual entries b. examining shipping documents for matching copies of sales invoices c. comparing the accounts receivable ledger to daily sales summaries d. inspecting unused sales invoices for consecutive prenumbering - correct answer b. Why are employees required to sign their time cards each week upon receipt of their check? A.to acknowledge the number of hours they worked that week B.to acknowledge that they received their check C.to acknowledge that the payroll journal posting is correct D.a and b only - correct answer d. What document does a customer receive when goods are returned? A.purchase order B.credit memo C.debit memo D.receiving report - correct answer b. Which of the following statements is false? A. As accounting systems become more automated, the likelihood of human input errors will likely decrease. B. As accounting systems become more interconnected, transaction cycle times will likely decrease. C. As accounting systems become more automated, management's assertions relating to the transaction cycle will likely change to reflect the advancements in automation. D. As accounting systems become more interconnected, the flowcharts relating to the transaction cycle will likely change to reflect the advancements in automation. - correct answer c. In an accounting system, the separation of duties is an important aspect of the control environment. At Waren Sports Supply, the three employees are separated according to which three responsibilities?