#1 The principle of an efficient accounting system that states that an accountin
ID: 2384704 • Letter: #
Question
#1 The principle of an efficient accounting system that states that an accounting system should accommodate a variety of users is
implementation.
useful output.
Cost effectiveness.
Flexibility.
#2 To be useful, the information outputs of a system should be
distributed only to management personnel.
relevant, reliable, timely, and accurate.
such that one report meets all different users needs.
reliable, flexible, understandable and timeless.
#3 Which of the following is a true statement about manual and electronic accounting systems?
The design and structure of manual and electronic systems are essentially the same.
Few small companies begin with manual systems.
Many companies convert from electronic to manual systems.
The design and structure of manual and electronic systems are fundamentally different.
#4 In which journal would a cash purchase of merchandise inventory be recorded?
Purchase journal
General journal
Cash payments journal
None of these.
#5 A company which uses special journals should record a transaction involving the purchase of merchandise for cash in a
one column purchases journal.
general journal.
#6 Adjusting entries are recorded
in the general journal.
only in the general ledger.
in the special journals.
only on the worksheet
#7 Debit postings to the individual accounts in an accounts receivable subsidiary ledger generally come from the
sales journal.
cash payments journal.
cash receipts journal.
purchases journal.
#8 Principles of an efficient and effective accounting information system include all of the following except
cost effectiveness.
flexibility.
useful output.
All of these options are principles.
#9 Cross-footing a cash receipts journal means
all necessary postings have been completed.
the equality of debits and credits in the journal have been proved.
the columns of the journal have been cross-referenced.
each line of the journal has a horizontal total
#10 All of the following are advantages of using subsidiary ledgers except they
Explanation / Answer
#1 The principle of an efficient accounting system that states that an accounting system should accommodate a variety of users is
Flexibility.
#2 To be useful, the information outputs of a system should be
relevant, reliable, timely, and accurate.
#3 Which of the following is a true statement about manual and electronic accounting systems?
The design and structure of manual and electronic systems are essentially the same.
Few small companies begin with manual systems.
Many companies convert from electronic to manual systems.
The design and structure of manual and electronic systems are fundamentally different.
#4 In which journal would a cash purchase of merchandise inventory be recorded?
Purchase journal
General journal
Cash payments journal
None of these.
#5 A company which uses special journals should record a transaction involving the purchase of merchandise for cash in a
one column purchases journal.
general journal.
#6 Adjusting entries are recorded
in the general journal.
only in the general ledger.
in the special journals.
only on the worksheet
#7 Debit postings to the individual accounts in an accounts receivable subsidiary ledger generally come from the
sales journal.
cash payments journal.
cash receipts journal.
purchases journal.
#8 Principles of an efficient and effective accounting information system include all of the following except
cost effectiveness.
flexibility.
useful output.
All of these options are principles.
#9 Cross-footing a cash receipts journal means
all necessary postings have been completed.
the equality of debits and credits in the journal have been proved.
the columns of the journal have been cross-referenced.
each line of the journal has a horizontal total
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