Transactions Processing and Financial Reporting System Overview

Front

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

Back

production planning/control

Front

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

Back

cost accounting

Front

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

Back

remittance advice

Front

The order of the entries made in the ledger is by

Back

account number

Front

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

Back

date

Front

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

Back

depreciation

Front

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

Back

sales

Front

Subsidiary ledgers are used in manual accounting environments. What file is comparable to a subsidiary ledger in a computerized environment?

Back

master file

Front

The production subsystem of the conversion cycle includes all of the following EXCEPT: determining raw materials requirements, release of raw materials into production, scheduling the goods to be produced.

Back

make or buy decisions on component parts.

Front

Which of the following is NOT a financial transaction? purchase of products, cash receipts, update valid vendor file, sale of inventory

Back

update valid vendor file