BSIS 420 Chapter 2 Practice Flashcard 1

Front

__________ Records and manages all accounting related data associated with a company's customers.

Back

Accounts Receivable Accounting

Front

_________ Records and manages all accounting related data associated with a company's vendors.

Back

Accounts Payable Accounting

Front

For a general ledger account to be used in Financial Accounting, it must be created first at the ___________.

Back

Chart of Accounts Level

Front

Which of the following is not part of the General Ledger?
Accounts Receivable,
Accounts Payable,
Cash Account

Back

Subsidiary Ledger

Front

Which account is used to separate accounting for customers, vendors, and assets?

Back

Subsidiary Ledger

Front

Key financial accounting processes do not include ________.

Back

Overhead management

Front

Which one is not one of the categories of the general ledger? Asset, Owner's Equity, Operating Cash Flow, Expenses

Back

Operating Cash Flow

Front

Within SAP ERP system, _______ is used to represent segments.

Back

Business Area

Front

Which statement listed below is true?
The chart of accounts is included in the General Ledger
Accounts Payable accounting is part of the fulfillment process.
Income Statements can be prepared from the General Ledger.
Assets = Liabilities - Owners Equity

Back

Income Statements can be prepared from the General Ledger.

Front

Reconciliation Accounts are general ledger accounts that ________.

Back

Maintain the sum of the postings in sub-ledgers