Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1-Which of the following is an example of a source document in a computerized accounting information system ? a)purchase invoices b)cash payments journal c)balance sheet

1-Which of the following is an example of a source document in a computerized accounting information system ?

a)purchase invoices

b)cash payments journal

c)balance sheet

d)income statement

2- A CR.5 posting reference in a subsidiary ledger indicates that:

a)the credited amount is after a %5 discount.

b)the posting is transferred from the cash receipts journal,page 5.

c)the sales on credit is expected to be paid within 5 days.

d)the transaction in page number 5 is credited.

3- Which of the following is a column of a purchases journal ?

a)Interest Revenue CR

b)Account Payable CR

c)Cost of Goods Sold CR

d)Sales Revenue DR

4-If there is cash involved in a particular business transaction then the transaction should be recorded in either:

a)cash payments journal or general journal.

b)sales journal or purchases journal.

c)cash payments journal or cash receipts journal or and in general journal

d)cash payments journal or cash receipts

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Managerial Accounting By Gleim Exam Questions And Explanations

Authors: Gleim

8th Edition

1581945663, 978-1581945669

More Books

Students also viewed these Accounting questions

Question

3. Identify the methods used within each of the three approaches.

Answered: 1 week ago