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Chapter 2 - Overview of Transaction Processing and Enterprise Resource Planning Systems
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Chapter 2 - Overview of Transaction Processing and Enterprise Resource Planning Systems

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  • July 19, 2024
  • 17
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • chapter 2 overview of transaction processing and

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Chapter 2 - Overview of Transaction Processing and
Enterprise Resource Planning Systems Test Bank
Identify the statement below that is not true with regards to the accounts receivable subsidiary
ledger.
Question options:

A) Every credit sale is entered individually into the subsidiary ledger.

B) Debits and credits in the subsidiary ledger must always equal.

C) The subsidiary ledgers play an important role in maintaining the accuracy of the data stored
in the AIS.

D) The total of the subsidiary ledgers must equal the control account. - ANS-B

Which of the following is not usually a consideration when designing a coding system?
Question options:

A) government coding regulations

B) standardization

C) future expansion needs

D) ease of reporting - ANS-A

Which of the following is an example of source data automation?
Question options:

A) a utility bill

B) POS (point-of-sale) scanners in retail stores

C) a bill of lading

D) a subsidiary ledger - ANS-B

Pre-numbering of source documents helps to verify that
Question options:

,A) documents have been used in order.

B) company policies were followed.

C) all transactions have been recorded.

D) source data automation was used to capture data. - ANS-C

Identify the statement below that is false with regards to effective coding practices.
Question options:

A) Codes should allow for growth.

B) Codes should be consistent with intended use.

C) Codes should be customized for each division of an organization.

D) Codes should be as simple as possible. - ANS-C

he coding technique most likely used for sales orders is
Question options:

A) block code.

B) group code.

C) sequence code.

D) data code. - ANS-C

Data processing includes all of the following except
Question options:

A) verifying subsidiary ledger balances.

B) changing customer addresses.

C) removing inventory items no longer offered.

D) adding the name of a new vendor. - ANS-A

A general journal
Question options:

, A) would be used to record monthly depreciation entries.

B) simplifies the process of recording large numbers of repetitive transactions.

C) records all detailed data for any general ledger account that has individual sub-accounts.

D) contains summary-level data for every account of the organization. - ANS-A

A specialized journal would be most likely to be used to enter
Question options:

A) sales transactions.

B) monthly depreciation adjustments.

C) annual closing entries.

D) stock issuance transactions. - ANS-A

John Pablo works in the accounting department of a multinational manufacturing company. His
job includes updating accounts receivable based on sales orders and remittance advices. His
responsibilities are part of the company's
Question options:

A) revenue cycle.

B) expenditure cycle.

C) financing cycle.

D) production cycle. - ANS-A

Catarina Boards is a skateboard retailer located in Pueblo, New Mexico. Catarina Boards is a
sole proprietorship that stocks an inventory of between 30 and 50 different skateboards.
Inventory is updated in real time by the AIS. If Catarina wishes to keep detailed information
about the purchase price of each skateboard in a place outside of the general ledger, it might
use a
Question options:

A) relational ledger.

B) transaction file.

C) master file.

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