A111Ch07 - ACCT 111 Chapter 7 1. Numbering the chart of...

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ACCT 111 Chapter 7 1. Numbering the chart of accounts to allow for additional accounts follows which of the following principles of systems design? [A] Compatibility [B] Control [C] Flexibility [D] Cost-benefit 2. Which of the following is not considered a source document? [A] Financial statements [B] Time cards [C] Invoice [D] Deposit slips 3. A computer system that allows for immediate updating of files is referred to as [A] instantaneous processing. [B] batch processing. [C] a mainframe system. [D] real-time processing. 4. A cash sale of merchandise is recorded in the [A] cash payments journal. [B] cash receipts journal. [C] sales journal. [D] general journal. 5. A purchase return for credit is recorded in the [A] cash receipts journal. [B] general journal. [C] cash payments journal. [D] sales journal. 6. Adjusting entries are recorded in the [A] cash payments journal. [B] cash receipts journal. [C] general journal. [D] sales journal. 7. In which of the following journals would you expect to find the fewest entries? [A] Sales journal [B] Cash receipts journal [C] General journal [D] Cash payments journal
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8. The use of special journals [A] is more beneficial to a small company than to a large one. [B] is required for large companies. [C] is possible for a manual system, but not for a computerized one. [D] usually saves time over using just a general journal. 9. A sales return for credit is recorded in the [A] cash payments journal. [B] general journal. [C] sales journal. [D] cash receipts journal. 10. A controlling account can be found in [A] the accounts payable subsidiary ledger. [B] the general ledger.
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This test prep was uploaded on 04/09/2008 for the course ACCT 112 taught by Professor King during the Spring '08 term at Howard County Community College.

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A111Ch07 - ACCT 111 Chapter 7 1. Numbering the chart of...

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