principlesofaccountingichapter7review

principlesofaccountingichapter7review - Chapter 7...

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Chapter 7 Accounting Information Systems 1. Briefly describe enterprise resource planning (ERP) systems. _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____ 2. Briefly distinguish among the four general principles of accounting information systems design: cost-benefit, control, compatibility, and flexibility. _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ ________________ 3. Briefly distinguish between batch posting and real-time posting. _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ ________________________________________________________________ 4. Briefly describe electronic commerce (ecommerce). _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ 5. Identify several business activities for which people are using electronic commerce (ecommerce) on the Internet. _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ ________________________________________________________________
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6. A company uses a single-column sales journal (S), a single-column purchases journal (P), a cash receipts journal (CR), a cash payments journal (CP), and a general journal (J). Indicate in which journal each of the following transactions would be recorded by placing the appropriate letter(s) in the blanks. _____ 1. Paid salaries. _____ 2. Returned a purchase, for credit. _____ 3. Sold merchandise on credit. _____ 4. Recorded accrued salaries. _____ 5. Sold merchandise for cash.
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