CHAPTER 2 ACC 2543 (SET 2)

What is the main role of accountants in data processing?

• Creating source documents

• Organizing data storage

• Generating financial statements

• Answering questions about data processing

What are the four steps in the data processing cycle?

• Data capture, Data processing, Data storage, Data output

• Data input, Data output, Data processing, Data storage

• Data input, Data storage, Data processing, Information output

• Data capture, Data organization, Data analysis, Data retrieval

What is the first step in data processing?

• Data retrieval

• Data organization

• Data capture

• Data analysis

What is the purpose of preparing end-of-period adjusting entries?

• To create financial statements

• To make closing entries

• To record in the journal

• To post to the ledger

What are the different types of file processing?

• Inserting, Updating, Deleting, Querying

• Recording, Changing, Adding, Deleting

• Updating, Deleting, Modifying, Adding

• Updating, Changing, Adding, Deleting

What are examples of documents as information output?

• Employee paychecks, Purchase orders

• Employee paychecks, Sales forecasts

• Purchase orders, Delivery schedules

• Sales forecasts, Delivery schedules

What are reports used for in organizations?

• To create budgets

• To control operational activities

• To prepare closing entries

• To generate financial statements

What is the purpose of queries in information output?

• To display financial statements

• To request specific information

• To create budgets

• To generate performance reports

What is the focus of management by exception?

• Investigating and acting on significant variances

• Ignoring all variances

• Investigating and acting on all variances

• Creating acceptable numbers

What is the main purpose of enterprise resource planning (ERP) systems?

• To capture financial data

• To create budgets

• To integrate all aspects of a company's operations

• To generate financial statements