2. Which business activity involves processing cash sales, credit sales, and the receipt of cash following a credit sale? (1 Point) O Production cycle O Expenditure cycle O Payroll cycle Revenue cycle 3. Purchase jounal records which of the transactions given below: (1 Point) Sales on account O Paying the electric bill Receiving cash from a charge customer O Buying inventory on credit cician 5. Which documents are used to capture transaction data that the transaction cycle needs for processing? (1 Point) O job time ticket O credit memo O receiving report Source document 6. Which of the following is NOT a characteristic of effective information? (1 Point) O precision O Reliable summarization O accuracy 7. Which business process is involved in paying dividends to investors and interest to lenders? (1 Point) O Financing cycle O Expenditure cycle O Production cycle O Revenue cycle 8. Which account will maintains details about amounts due from customers? (1 Point) Accounts receivable O Accounts payable Sales invoice Purchase order nur drot to croate finished 9. Which business activity involves in using raw materials, labour and assets to create finished products? (1 Point) O Inbound logistics O Production Sales marketing 10. Information related to inventory, accounts payable, payroll, and accounts receivable are stored in (1 Point) O receiving report O Source document O Subsidiary ledgers O General ledger liet fint 12. Identify the business activity involved in acquisition of materials, property, and labor in exchange for cash? (1 Point) Production cycle O Revenue cycle O Finance cycle Expenditure cycle 13. Payroll process is an example of :* (1 Point) O batch processing captured transaction processing online, real-time processing None of the above duringcnocifir fircal narind is 14. A file that contains the individual business transactions that occur during a specific fiscal period is called as: (1 Point) Master file Journal Transaction file Ledger 15. Identify the business process involves the interactions between an organization and its vendors? (1 Point) O revenue cycle human resources/payroll cycle expenditure cycle general ledger and reporting system 16. Identify the business process involves the interactions between an organization and its employees? (1 Point) human resources/payroll cycle expenditure cycle O revenue cycle O general ledger and reporting system 17. Which account will maintain details about amounts due to suppliers? (1 Point) Accounts payable Accounts receivable Purchase order Sales invoice 18. Which of the following is not the benefit of storing information in accounting system? (1 Point) identifies situations requiring management action O provides feedback about the effectiveness of prior decisions O reduces uncertainty O Information overload