Transactions Processing and Financial Reporting System Overview

Transactions Processing and Financial Reporting System Overview

Assessment

Flashcard

Other

University

Practice Problem

Hard

Created by

Wayground Content

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20 questions

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1.

FLASHCARD QUESTION

Front

Which system is not part of the expenditure cycle? Options: cash disbursements, payroll, production planning/control, purchases/accounts payable

Back

production planning/control

2.

FLASHCARD QUESTION

Front

Which system produces information used for inventory valuation, budgeting, cost control, performance reporting, and make-buy decisions?

Back

cost accounting

3.

FLASHCARD QUESTION

Front

Which of the following is a turn-around document? remittance advice, sales order , purchase order, payroll check

Back

remittance advice

4.

FLASHCARD QUESTION

Front

The order of the entries made in the ledger is by

Back

account number

5.

FLASHCARD QUESTION

Front

The order of the entries made in the general journal is by

Back

date

6.

FLASHCARD QUESTION

Front

In general, a special journal would not be used to record depreciation

Back

depreciation

7.

FLASHCARD QUESTION

Front

Which account is least likely to have a subsidiary ledger? Options: sales, accounts receivable, fixed assets, inventory

Back

sales

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