Reference no: EM132684199
Questions -
Q1. Which of the following statements regarding computerized accounting systems is NOT true?
a. Computerized accounting systems simplify the record-keeping process.
b. Computerized accounting systems provide management with current account balance information to support decision making.
c. Computerized accounting systems are generally more accurate than manual systems.
d. Computerized accounting systems are only used by large companies
Q2. The subsidiary ledger that tracks customers is the
a. accounts payable ledger.
b. inventories ledger.
c. general ledger.
d. accounts receivable ledger.
Q3. A popular computerized accounting software is
a. Cisco Systems.
b. Excel.
c. QuickBooks.
d. Word.
Q4. In applying segment analysis to a business with declining total revenue from one year to the next,
a. a company will not be able to determine if revenue growth in one segment is sufficient to offset revenue decline in another segment.
b. a company will learn very little because segment analysis cannot be done to compare one year to the next.
c. a company will learn very little because segment analysis should not be done for companies with declining revenues.
d. a company may discover that revenue growth in one segment may not be sufficient to offset revenue decline in another segment.
Q5. The methods and procedures for collecting, classifying, summarizing, and reporting financial information make up
a. subsidiary ledgers.
b. bookkeeping.
c. e-commerce.
d. an accounting system.
Q6. Which of the following statements regarding segment analysis is NOT true?
a. Segment analysis helps determine the amount of revenue earned by each segment.
b. Segment analysis dictates total operating performance of a company.
c. Segment analysis helps determine the increases and/or decreases over a time period of each segment.
d. Segment analysis helps analyze the contributions of various segments to the total operating performance of a company.
Q7. The design stage of developing an accounting system should
a. ensure the smooth implementation of the system.
b. ensure the system is pleasing in appearance.
c. ensure the system meets the user's needs.
d. analyze user information needs.
Q8. E-commerce has streamlined the
a. purchase cycle but has increased paperwork in the payment cycle.
b. purchase cycle only by automating transactions.
c. payment cycle only.
d. purchase and payment cycle by automating transactions and eliminating paperwork.
Q9. If a company makes three entries in the revenue journal for fees earned of $530, $760, and $1,050 during the month, what is the balance of Fees Earned at the end of the month?
a. $760
b. $2,340
c. $530
d. $1,050
Q10. Leggett Company does business in two regional segments: Mountains and Plains. The following annual revenue information was determined:
Segment 20Y7 20Y6
Mountains $45,500 $41,000
Plains 51,000 62,000
Total revenues $96,500 $103,000
Using horizontal analysis, what is the percentage change for the Mountains region?
a. 4.4% decrease
b. 17.7% decrease
c. 39.8% increase
d. 11.0% increase
Q11. Internet applications to plan and coordinate marketing and sales efforts are known as
a. customer relationship management.
b. cloud software management.
c. product life-cycle management.
d. supply chain management.
Q12. Internet applications to plan and coordinate marketing and sales efforts are known as
a. customer relationship management.
b. cloud software management.
c. product life-cycle management.
d. supply chain management.