kcarter1275 posted a question
1. (Points: 3)
Every controlling account must have its own

1. journal
2. revenue ledger
3. general ledger
4. subsidiary ledger
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2. (Points: 3)
A purchase of supplies for cash is recorded in the

1. Revenue journal
2. Cash Payments journal
3. Cash Receipts journal
4. Purchases journal
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3. (Points: 3)
The primary ledger containing all the balance sheet and income statement accounts is the

1. subsidiary ledger
2. customers ledger
3. creditors ledger
4. general ledger
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4. (Points: 3)
In which journal would you find the recording of cash revenues?

1. Revenues journal
2. General journal
3. Cash receipts journal
4. Cash payments journal
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5. (Points: 3)
The individual accounts with customers are included in a subsidiary ledger called the

1. expense ledger
2. accounts receivable ledger
3. asset ledger
4. accounts payable ledger
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6. (Points: 3)
Beachside Coffee Shop, in an effort to stream line its accounting system, has decided to utilize a Cash Receipts Journal in its operation. What will be recorded on the post ref column of this transaction?

Cash Receipts Journal
Date Account
Credited Post Ref Cash
Dr Bev
Revenue
Cr Food
Revenue
Cr Retail
Revenue
Cr Sales Tax
Payable Cr
3/17/09 Cash Sale $137 $137








General Ledger Acct:
Customer Acct

Cash 10
CCC 345

Acct Receivable 12
FFF 367

Retail Supplies 15
Sales Tax Payable 23
Beverage Revenue 41
Food Revenue 42
Retail Revenue 43


1. 15
2. 42
3. Ö
4. 10
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7. (Points: 3)
Which of the following is not one of the three phases which is needed when changing an accounting system, either in its entirety or in part?

1. design
2. analysis
3. review
4. implementation
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8. (Points: 3)
The flow of data in a computerized accounting information system is

1. authorization, database, transaction, reports
2. transaction, database, authorization, reports
3. reports, transaction, authorization, database
4. authorization, transaction, database, reports
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9. (Points: 3)
Which of the following is not an element of Internal Controls?

1. ensure the accuracy of business information
2. to ensure that the company’s policies are in place to maximize profits
3. ensure that laws and regulations are followed
4. to protect assets from misuse
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10. (Points: 3)
A withdrawal of cash made by the owner will be found on the

1. cash receipts journal
2. purchases journal
3. cash payments journal
4. general journal
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11. (Points: 3)
When there are a large number of individual accounts with a common characteristic, it is common to place them in a separate ledger called a(n)

1. creditors ledger
2. accounts payable ledger
3. accounts receivable ledger
4. subsidiary ledger
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12. (Points: 3)
The phase of accounting system installation in which the information needs of people in the organization are taken into account is

1. design
2. implementation
3. installation
4. analysis
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13. (Points: 3)
The owner transfers a personal automobile to the company with a fair market value of $12,000. The entry will be made in the

1. purchases journal
2. cash payments journal
3. general journal
4. cash receipts journal
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14. (Points: 3)
The controlling account in the general ledger that summarizes the debits and credits to the individual customers accounts in the subsidiary ledger is entitled

1. Accounts Receivable
2. Purchases
3. Fees Earned
4. Accounts Payable
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15. (Points: 3)
Beachside Coffee Shop, in an effort to stream line its accounting system, has decided to utilize a Cash Receipts Journal in its operation. What would be recorded as the Post Ref for the Other column, and where on the journal would it appear?
Cash Receipts Journal
Date Account
Credited Post Ref Cash
Dr Bev
Revenue
Cr Food
Revenue
Cr Sales Tax Pay.
Cr Other
Cr
3/31/09 5,444 3,089 1,907 55 393








General Ledger Acct:
Customer Acct

Cash 10
CCC 345

Acct Receivable 12
FFF 367

Retail Supplies 15
Sales Tax Payable 23
Beverage Revenue 41
Food Revenue 42
Retail Revenue 43


1. (12), under the amount on the Other column
2. (Ö), on the Post Ref. Column
3. (Ö), Post Ref for the total of the Other column
4. (367), under the amount on the Other column
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16. (Points: 3)
What is meant by the term B2C?

1. Balance to cash
2. Book to capital
3. Business to consumer
4. Business to cash
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17. (Points: 3)
If the individual subsidiary ledger accounts of Accounts Receivable and Accounts Payable contained the following data:
Cadence Company - Vendor - $125 credit balance
Franklin Enterprises - Customer - $75 debit balance
Marcelo Construction - Client - $375 - debit balance
Peyton Supplies - Supplier - $275 - credit balance

The Accounts Receivable (A/R) controlling account balance and the Accounts Payable (A/P) controlling account balances would be:

1. A/R - $75, A/P - $775
2. A/R - $400, A/P - $450
3. A/R - $450, A/P - $400
4. A/R - $200, A/P - $650
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18. (Points: 3)
Beachside Coffee Shop, in an effort to stream line its accounting system, has decided to utilize a Cash Receipts Journal in its operation. What would be recorded as the Post Ref for the total Cash column, and where on the journal would it appear?
Cash Receipts Journal
Date Account
Credited Post Ref Cash
Dr Bev
Revenue
Cr Food
Revenue
Cr Sales Tax Pay.
Cr Other
Cr
3/31/09 5,444 3,089 1,907 55 393








General Ledger Acct:
Customer Acct

Cash 10
CCC 345

Acct Receivable 12
FFF 367

Retail Supplies 15
Sales Tax Payable 23
Beverage Revenue 41
Food Revenue 42
Retail Revenue 43


1. (Ö) under the amount on the cash column
2. (Ö), Post Ref for the total of the Cash column
3. (10), on the Post Ref. Column
4. (10) under the amount on the cash column
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19. (Points: 3)
At the end of the month, the total of the amount column of the revenue journal is posted as a

1. debit to Cash and a credit to Accounts Payable
2. debit to Accounts Receivable and a credit to Cash
3. debit to Accounts Receivable and a credit to Fees Earned
4. debit to Cash and a credit to Fees Earned
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20. (Points: 3)
Special journal entries are

1. posted either daily or monthly depending on the accounts used
2. recorded in addition to the same information being recorded in a general journal
3. all posted at the end of the accounting period
4. all posted daily
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21. (Points: 3)
Which of the following is recorded in the cash receipts journal?

1. cash withdrawn by the owner
2. cash purchase of equipment
3. cash received on customer's account
4. adjusting entry for depreciation
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22. (Points: 3)
The means by which the accounting system collects, summarizes, and reports accounting information is called

1. Processing methods
2. Reporting methods
3. Control methods
4. Accounting methods
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23. (Points: 3)
After an accounting system has been set up, what is the next step?

1. Feedback
2. Implementation
3. Internal controls
4. Analysis
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24. (Points: 3)
Which of the following is not considered a special journal?

1. cash payments journal
2. cash receipts journal
3. general journal
4. purchases journal
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25. (Points: 3)
Services performed for cash should be recorded in the

1. General journal
2. Cash Receipts journal
3. Revenue journal
4. Cash Payments journal
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26. (Points: 3)
Which of the following journals is called an all-purpose journal?

1. Accounting journal
2. Purchases journal
3. General journal
4. Revenue journal
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27. (Points: 3)

The following cash receipts headings have been suggested for Tower Tree-Trimming Service Company. Which of the following statements is false?

Date Account Debited Post.
Ref. Accounts Receivable Cr. Cash
Cr. Other Accounts Dr.




1. The second column should be Account Credited.
2. The Cash column should be a debit.
3. The Other Accounts should be credited.
4. The Accounts Receivable should be debited.
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28. (Points: 3)
The goal of systems analysis is to determine

1. changes to the present system
2. when to implement a system
3. the size of the competitor's system
4. information needs
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29. (Points: 3)
Which journal would adjusting entries be found?

1. General Journal
2. Cash Payments Journal
3. General Ledger
4. Cash Receipts Journal
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30. (Points: 3)
When posting the column totals of a cash payments journal, a debit should be posted to

1. Unearned Revenue
2. Accounts Payable
3. Sales Discounts
4. Cash
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31. (Points: 2)
A cash refund paid to a customer who overpaid an account receivable is recorded in the cash payments journal.

1. False
2. True
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32. (Points: 2)
Businesses must implement controls to help guide the behavior of their employees toward business objectives.

1. False
2. True
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33. (Points: 2)
A controlling account is used to record the details of the individual accounts.

1. True
2. False
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34. (Points: 2)
Computerized accounting typically uses specialized journals.

1. True
2. False
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35. (Points: 2)
The account for each supplier of merchandise will appear in the accounts payable subsidiary ledger.

1. False
2. True
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