Question 1

Which of the following is NOT typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?

Accepted Answer

A)   Interest Revenue CR column
B)   Cost of Goods Sold DR, Merchandise Inventory CR column
C)   Sales Revenue CR column
D)   Sales Discounts Forfeited CR columnE) B) and C)
F) All of the above

Question 2

The sale of merchandise inventory for cash is recorded in the ________.

Accepted Answer

A)   general journal
B)   cash receipts journal
C)   sales journal
D)   accounts receivable journalE) B) and C)
F) A) and D)

Question 3

Which of the following is a disadvantage of enterprise resource planning (ERP) systems?

Accepted Answer

A)   It is not beneficial to large companies.
B)   It is not supported by cloud computing.
C)   Its implementation requires a large commitment of time and people.
D)   It uses separate software systems, such as sales and payroll.E) C) and D)
F) A) and B)

Question 4

The accounting is the same regardless of whether a business uses a manual or a computerized accounting information system.

Accepted Answer

A) True 
 B)False

Exam 7: Accounting Information Systems

Which of the following is NOT typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?

Correct Answer
verified

Which of the following is a disadvantage of enterprise resource planning (ERP) systems?

Correct Answer
verified

The accounting is the same regardless of whether a business uses a manual or a computerized accounting information system.

Correct Answer
verified

The sale of merchandise inventory for cash is recorded in the ________.

Correct Answer
verified

Exam 7: Accounting Information Systems

Which of the following is NOT typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?

Correct AnswerverifiedShow Answer

Which of the following is a disadvantage of enterprise resource planning (ERP) systems?

Correct AnswerverifiedShow Answer

The accounting is the same regardless of whether a business uses a manual or a computerized accounting information system.

Correct AnswerverifiedShow Answer

The sale of merchandise inventory for cash is recorded in the ________.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified