Question 1

What is the purpose of source documents? What controls are embedded in source documents? Give two examples of source documents.

Accepted Answer

The primary purpose of source documents ...

Question 2

Data about all of the following facets of a business activity are most likely to be recorded in a master file except the

Accepted Answer

A)   business activity.
B)   resources affected by the business activity.
C)   people who participate in the business activity.
D)   place the business activity occurs.E) B) and C)
F) A) and D)

Question 3

The data processing method used by FedEx to track packages is an example of

Accepted Answer

A)   real-time processing.
B)   batch processing.
C)   online batch processing.
D)   real-time batch processing.E) A) and B)
F) All of the above

Question 4

A typical source document could be

Accepted Answer

A)   in some paper form.
B)   a computer data entry screen.
C)   a notepad entry.
D)   both A and BE) C) and D)
F) A) and B)

Question 5

To be effective,the chart of accounts must

Accepted Answer

A)   be as concise as possible.
B)   begin with account 001.
C)   utilize only one coding technique.
D)   contain sufficient detail to meet the information needs of the organization.E) A) and C)
F) All of the above

Question 6

An audit trail

Accepted Answer

A)   provides the means to check the accuracy and validity of ledger postings.
B)   begins with the general journal.
C)   is automatically created in every computer-based information system.
D)   is a summary of recorded transactions.E) A) and B)
F) C) and D)

Question 7

A chart of accounts is an example of (select all that apply)

Accepted Answer

A)   sequence codes.
B)   block codes.
C)   group codes.
D)   mnemonic codes.E) All of the above
F) None of the above

Question 8

A general journal

Accepted Answer

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.E) All of the above
F) A) and B)

Question 9

The quality assurance department at a large manufacturing business enters data into the AIS that is used to produce a weekly report that summarizes the proportion of defective units in each product line.This is an example of

Accepted Answer

A)   internal financial information.
B)   internal nonfinancial information.
C)   external financial information.
D)   external nonfinancial information.E) All of the above
F) A) and D)

Question 10

Describe four advantages and four disadvantages of implementing an ERP system at a multinational corporation.

Accepted Answer

Advantages
Integrating information break...

Question 11

Which of the following statements about data processing methods is true?

Accepted Answer

A)   Online real-time processing does not store data in a temporary file.
B)   Batch processing cannot be used to update a master file.
C)   Control totals are used to verify accurate processing in both batch and online batch processing.
D)   Online real-time processing is only possible with source data automation.E) B) and D)
F) B) and C)

Question 12

In transaction processing,generally which activity comes first?

Accepted Answer

A)   recording data in a journal
B)   posting items to special journals
C)   capturing data on source documents
D)   recording data in a general ledgerE) None of the above
F) A) and B)

Question 13

A subsidiary ledger

Accepted Answer

A)   is used to record infrequent or non-routine transactions.
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.E) B) and C)
F) A) and D)

Question 14

Which of the following statements regarding special journals is not true?

Accepted Answer

A)   The balances in a special journal must always reconcile to the general ledger.
B)   Special journals are used to record large numbers of repetitive transactions.
C)   Special journals are periodically summarized and posted to the general ledger.
D)   Special journals provide a specialized format for recording similar transactions.E) All of the above
F) B) and D)

Exam 2: Overview of Transaction Processing and Erp Systems

To be effective,the chart of accounts must

Correct Answer
verified

What is the purpose of source documents? What controls are embedded in source documents? Give two examples of source documents.

Correct Answer
verified
The primary purpose of source documents ...
View Answer

A general journal

Correct Answer
verified

Describe four advantages and four disadvantages of implementing an ERP system at a multinational corporation.

Correct Answer
verified
Advantages
Integrating information break...
View Answer

Which of the following statements about data processing methods is true?

Correct Answer
verified

A subsidiary ledger

Correct Answer
verified

An audit trail

Correct Answer
verified

Data about all of the following facets of a business activity are most likely to be recorded in a master file except the

Correct Answer
verified

Which of the following statements regarding special journals is not true?

Correct Answer
verified

A typical source document could be

Correct Answer
verified

A chart of accounts is an example of (select all that apply)

Correct Answer
verified

In transaction processing,generally which activity comes first?

Correct Answer
verified

The quality assurance department at a large manufacturing business enters data into the AIS that is used to produce a weekly report that summarizes the proportion of defective units in each product line.This is an example of

Correct Answer
verified

The data processing method used by FedEx to track packages is an example of

Correct Answer
verified

Exam 2: Overview of Transaction Processing and Erp Systems

To be effective,the chart of accounts must

Correct AnswerverifiedShow Answer

What is the purpose of source documents? What controls are embedded in source documents? Give two examples of source documents.

Correct AnswerverifiedThe primary purpose of source documents ...View AnswerShow Answer

A general journal

Correct AnswerverifiedShow Answer

Describe four advantages and four disadvantages of implementing an ERP system at a multinational corporation.

Correct AnswerverifiedAdvantagesIntegrating information break...View AnswerShow Answer

Which of the following statements about data processing methods is true?

Correct AnswerverifiedShow Answer

A subsidiary ledger

Correct AnswerverifiedShow Answer

An audit trail

Correct AnswerverifiedShow Answer

Data about all of the following facets of a business activity are most likely to be recorded in a master file except the

Correct AnswerverifiedShow Answer

Which of the following statements regarding special journals is not true?

Correct AnswerverifiedShow Answer

A typical source document could be

Correct AnswerverifiedShow Answer

A chart of accounts is an example of (select all that apply)

Correct AnswerverifiedShow Answer

In transaction processing,generally which activity comes first?

Correct AnswerverifiedShow Answer

The quality assurance department at a large manufacturing business enters data into the AIS that is used to produce a weekly report that summarizes the proportion of defective units in each product line.This is an example of

Correct AnswerverifiedShow Answer

The data processing method used by FedEx to track packages is an example of

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
The primary purpose of source documents ...
View Answer

Correct Answer
verified

Correct Answer
verified
Advantages
Integrating information break...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified