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Linda_us, Finance, Accounts & Homework Tutor
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FOR LINDA...9 dollars! Deadline Wed Sept 28 at noon central.Our team has different answers and need help..
 
T F The general journal is used for transactions not covered by special journals and for regular, adjusting, closing, and correcting entries.
 T F Special journals are designed in a manner that is best suited for each business, so good systems design for a business could include collapsing the sales and cash receipts journal into one journal.
 T F The use of internal controls provides guaranteed protection against losses due to operating activities.
T F An internal control system refers to the policies and procedures companies use to protect assets, ensure reliable accounting, promote efficient operations, and urge adherence to company policies.
 T F Good internal control dictates that a person who controls an asset also maintains that asset's accounting records. T F Control of cash disbursements is important for companies as most large thefts occur from payment of fictitious invoices.

 Multiple Choice
The control principle for accounting information systems requires that the:
 A) Benefits from an activity outweigh the costs of the activity.
B) System report useful, understandable, timely, and pertinent information for effective decision making.
 C) System aid managers in controlling and monitoring business activities.
 D) System adapt to changes in the company, business environment, and needs of decision makers.
E) System conform with a company's activities, personnel, and structure.

The five fundamental principles of accounting information systems are:
A) Control, accountability, relevance, compatibility, and flexibility.
 B) Historical cost, relevance, compatibility, flexibility, and cost-benefit.
 C) Control, relevance, compatibility, flexibility, and safety.
 D) Control, relevance, compatibility, timeliness, and cost-benefit.
E) Control, relevance, compatibility, flexibility, and cost-benefit.

Input devices include:
A) Bar-code readers.
B) Printers.
C) Software.
D) Ledgers.
E) All of the above.

The sales journal is used for recording:
 A) Credit purchases.
 B) Credit sales.
C) Cash sales.
 D) Cash purchases.
E) Cash receipts.

An accounts payable ledger is:
 A) A subsidiary ledger that contains an account for each supplier (creditor).
B) A list of the balances of all the accounts in the accounts receivable ledger that is added to show the total amount of accounts receivable outstanding.
 C) A book of original entry that is designed and used for recording only a specific type of transaction.
D) The ledger that contains the financial statement accounts of a business.
 E) A subsidiary ledger that contains a separate account for each party that grants both short-term and long-term credit on account to the company.
Submitted: 3 years ago.
Category: Homework
Expert:  Linda_us replied 3 years ago.
Thanks for requesting me. I will post the solution before your deadline.

Regards

Linda
Customer: replied 3 years ago.
Thanks Linda, I look forward to your response.I truly enjoy working with you.
Expert:  Linda_us replied 3 years ago.
Thanks. I will post the solution in few hours.

Regards

Linda
Expert:  Linda_us replied 3 years ago.
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Linda_us, Finance, Accounts & Homework Tutor
Category: Homework
Satisfied Customers: 7077
Experience: Post Graduate Diploma in Management (MBA)
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