Transaction Processing

Which of the following commonly initiates the data input process?

• a business activity

• automatic batch processing

• an accounting department source document

• a trial balance query

A typical source document could be....

• some type of paper document.

• a computer data entry screen.

• the company's financial statements

• there is no right answer

Which of the following is not considered a source document?

• A copy of the company's financial statements.

• A copy of the company's shipping document.

• A copy of the company's sales journal.

• A copy of the company's ledger.

Which step below is not considered to be part of the data processing cycle?

• data input

• feedback from external sources

• data storage

• data processing

Which of the following statements is false?

• Retail stores do not have a production cycle.

• Financial institutions have installment-loan cycles.

• A service company does not have an inventory system.

• Every organization should implement every transaction cycle module.

Johny Suparto works in the accounting department of a multinational manufacturing company. His job includes updating accounts payable based on purchase orders and checks. His responsibilities are part of the company's ...

• revenue cycle.

• expenditure cycle.

• financing cycle.

• production cycle.

Many small businesses choose to outsource their payroll activities to firms that specialize in providing payroll services. Yuliani Dolores operates a payroll processing business in Cilandak Bizpark, South of Jakarta. When she sends bills out to her clients, her work is part of her firm's?

• Revenue Cycle.

• Expenditure Cycle.

• Financing Cycle.

• Production Cycle.

What is the most frequent revenue cycle transaction?

• purchase of inventory

• receipt of cash

• sale to customer

• billing

Identify the item below that is not one of the four different types of data processing activities.

• creating

• reading

• using

• deleting

The general ledger ...

• summarizes the information on the trial balance.

• is posted in total to the general journal.

• only includes balance sheet accounts.

• summarizes the transactions in journals.