WorksheetsTransaction Processing
Total questions: 15
Worksheet time: 9mins
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.
For a retail business, a delivery of inventory, from a vendor (with whom there is an established credit relationship) would be initially recorded in which type of accounting record as part of which transaction cycle?
purchases journal; expenditure cycle
general journal; expenditure cycle
general ledger; expenditure cycle
cash disbursements journal; production cycle
Data must be collected about three facets of each business activity. What are they?
the business activity, the resources it affects, the people who participate
the business activity, the transactions it creates, the impact on the financial statements
the inputs, outputs and processes used
who is involved, what was sold, how much was paid
Common source documents for the revenue cycle include all of the following except ...
sales order.
receiving report.
delivery ticket.
credit memo.
Documents that are sent to customers or suppliers and then sent back to the company in the course of a business transaction are known as ...
turnaround documents.
source documents.
input documents.
transaction documents
The data processing method used by FedEx to track packages is an example of ...
real-time processing.
batch processing.
online batch processing.
real-time batch processing.
