Which of the following is NOT a step in the data processing cycle?

• data collection

• data input

• data storage

• data processing

All of the information (name, GPA, major, etc.) about a particular student is stored in the same ______.

• file

• record

• attribute

• field

Which of the following would contain the total value of all inventory owned by an organization?

• source document

• general ledger

• cash budget

Which of the following is most likely to be a general ledger control account?

• accounts receivable

• petty cash

• prepaid rent

• retained earnings

Which of the following documents is most likely to be used in the expenditure cycle?

• sales orders

• credit memo

• receiving report

• job time ticket

Which of the following is LEAST likely to be a specialized journal?

• sales journal

• cash receipts journal

• prepaid insurance journal

• cash disbursements journal

How does the chart of accounts list general ledger accounts?

• alphabetical order

• chronological order

• size order

• the order in which they appear in financial statements

Which of the following is NOT an advantage of an ERP system?

• better access control

• standardization of procedures and reports

• improved monitoring capabilities

• simplicity and reduced costs

Records of company data sent to an external party and then returned to the system as input are called ______.

• turnaround documents

• source data automation documents

• source documents

• external input documents

Recording and processing information about a transaction at the time it takes place is referred to as which of the following?

• batch processing

• online, real-time processing

• captured transaction processing

• chart of accounts processing