Podcast
Questions and Answers
True or false: Forms should not include instructions to avoid confusion.
True or false: Forms should not include instructions to avoid confusion.
False (B)
True or false: A check register is a complex form of cash disbursements.
True or false: A check register is a complex form of cash disbursements.
False (B)
True or false: The check register is a more complex form of cash disbursements.
True or false: The check register is a more complex form of cash disbursements.
False (B)
True or false: Check register is a more complex form of cash disbursements.
True or false: Check register is a more complex form of cash disbursements.
True or false: Check register is a more complex form of cash disbursements.
True or false: Check register is a more complex form of cash disbursements.
True or false: Business forms do not provide any historical record of completed transactions.
True or false: Business forms do not provide any historical record of completed transactions.
True or false: Business forms do not provide a historical record of completed transactions.
True or false: Business forms do not provide a historical record of completed transactions.
True or false: General journal is used only for transactions that cannot be recorded in any other special journal.
True or false: General journal is used only for transactions that cannot be recorded in any other special journal.
True or false: The general journal is used for transactions that cannot be recorded in any other special journal.
True or false: The general journal is used for transactions that cannot be recorded in any other special journal.
True or false: The General Journal system is used for all types of transactions.
True or false: The General Journal system is used for all types of transactions.
True or false: Forms should be properly identified, serially numbered, and carry necessary instructions.
True or false: Forms should be properly identified, serially numbered, and carry necessary instructions.
True or false: Forms do not need to be properly identified, serially numbered, and carry necessary instructions.
True or false: Forms do not need to be properly identified, serially numbered, and carry necessary instructions.
True or false: Business forms do not provide a historical record of completed transactions.
True or false: Business forms do not provide a historical record of completed transactions.
True or false: The Accounts Payable system includes voucher and check registers.
True or false: The Accounts Payable system includes voucher and check registers.
True or false: Business forms do not provide a historical record of completed transactions.
True or false: Business forms do not provide a historical record of completed transactions.
True or false: The Billing and Collection system tracks inventory movements.
True or false: The Billing and Collection system tracks inventory movements.
True or false: Forms should be properly identified, serially numbered, and carry necessary instructions.
True or false: Forms should be properly identified, serially numbered, and carry necessary instructions.
True or false: Purchasing systems do not handle the ordering of goods and services.
True or false: Purchasing systems do not handle the ordering of goods and services.
True or false: Purchasing systems are only concerned with ordering goods.
True or false: Purchasing systems are only concerned with ordering goods.
True or false: Forms should be properly identified, serially numbered, and carry necessary instructions.
True or false: Forms should be properly identified, serially numbered, and carry necessary instructions.
True or false: Purchase requests are initiated by the purchasing department only.
True or false: Purchase requests are initiated by the purchasing department only.
True or false: The Accounts Payable system does not include voucher and check registers.
True or false: The Accounts Payable system does not include voucher and check registers.
True or false: The Purchase Order system includes approved purchase requests.
True or false: The Purchase Order system includes approved purchase requests.
True or false: Forms should not logically arrange data and facilitate the recording of data.
True or false: Forms should not logically arrange data and facilitate the recording of data.
True or false: Forms should not logically arrange data and facilitate the recording of data.
True or false: Forms should not logically arrange data and facilitate the recording of data.
True or false: Forms should not provide for necessary signatures with dates, title, and identifying data.
True or false: Forms should not provide for necessary signatures with dates, title, and identifying data.
True or false: Forms should provide for necessary signatures with dates, title, and identifying data.
True or false: Forms should provide for necessary signatures with dates, title, and identifying data.
True or false: The Accounts Payable system includes voucher and check registers.
True or false: The Accounts Payable system includes voucher and check registers.
True or false: The Delivery system handles the issuance of delivery receipts.
True or false: The Delivery system handles the issuance of delivery receipts.
True or false: The General Journal system is used for recording all types of transactions.
True or false: The General Journal system is used for recording all types of transactions.
True or false: The Inventory system tracks inventory movements and costing but does not include receiving reports and stock issuance slips.
True or false: The Inventory system tracks inventory movements and costing but does not include receiving reports and stock issuance slips.
True or false: The Inventory system includes sales invoice and official receipt generators.
True or false: The Inventory system includes sales invoice and official receipt generators.
True or false: The Inventory system does not track inventory movements and costing.
True or false: The Inventory system does not track inventory movements and costing.
True or false: Forms do not need to consider internal control requirements.
True or false: Forms do not need to consider internal control requirements.
True or false: Forms should not consider internal control requirements.
True or false: Forms should not consider internal control requirements.
True or false: Purchasing systems are not concerned with ordering goods and services.
True or false: Purchasing systems are not concerned with ordering goods and services.
True or false: The General Journal system is used for transactions that can be recorded in other special journals.
True or false: The General Journal system is used for transactions that can be recorded in other special journals.
True or false: The Purchasing system is concerned with ordering goods and services.
True or false: The Purchasing system is concerned with ordering goods and services.
True or false: Purchasing systems are concerned with ordering goods and services.
True or false: Purchasing systems are concerned with ordering goods and services.
True or false: The company only uses one system for tracking billing and collections.
True or false: The company only uses one system for tracking billing and collections.
True or false: Purchase requests are initiated by different departments as the basis for purchasing.
True or false: Purchase requests are initiated by different departments as the basis for purchasing.
True or false: Purchasing systems do not monitor purchase orders and process receipts.
True or false: Purchasing systems do not monitor purchase orders and process receipts.
True or false: The General Journal system includes a template and a chart of accounts.
True or false: The General Journal system includes a template and a chart of accounts.
True or false: The General Journal system includes a chart of accounts.
True or false: The General Journal system includes a chart of accounts.
True or false: The General Journal system does not include a chart of accounts.
True or false: The General Journal system does not include a chart of accounts.
True or false: The company uses reports to track order discrepancies and inventory costing.
True or false: The company uses reports to track order discrepancies and inventory costing.
True or false: The General Journal system is used for recording all types of transactions.
True or false: The General Journal system is used for recording all types of transactions.
True or false: The company does not use any reports to track order discrepancies or aging of open invoices.
True or false: The company does not use any reports to track order discrepancies or aging of open invoices.
True or false: The company does not use any reports to track PR and PO listings, order discrepancies, A/P summary, aging of open invoices, and paid and unpaid billing.
True or false: The company does not use any reports to track PR and PO listings, order discrepancies, A/P summary, aging of open invoices, and paid and unpaid billing.
True or false: Purchase requests are initiated by different departments as the basis for purchasing.
True or false: Purchase requests are initiated by different departments as the basis for purchasing.
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Study Notes
- Check register is a simplified form of cash disbursements.
- General journal is used for transactions that cannot be recorded in any other special journal.
- Business forms provide a historical record of completed transactions.
- Forms should be properly identified, serially numbered, and carry necessary instructions.
- Forms should logically arrange data and facilitate the recording of data.
- Forms should provide for necessary signatures with dates, title, and identifying data.
- Forms should consider internal control requirements.
- Purchasing systems are concerned with ordering goods and services.
- Purchasing systems monitor purchase orders and process receipts.
- Purchase requests are initiated by different departments as the basis for purchasing.
- The company has several systems, including Purchase Orders, Accounts Payable, Payroll, Delivery, Billing and Collection, Inventory, and General Journal.
- The Purchase Order system includes approved purchase requests, receiving reports, and purchase return slips.
- The Accounts Payable system processes vendor invoices, payments, and adjustments, and includes voucher and check registers.
- The Payroll system includes payroll registers, payslip printing, cash advance listings, and government remittances.
- The Delivery system handles the delivery of goods and issuance of delivery receipts.
- The Billing and Collection system monitors billing and collections per customer and includes sales invoice and official receipt generators.
- The Inventory system tracks inventory movements and costing and includes receiving reports and stock issuance slips.
- The General Journal system is used for transactions that cannot be recorded in other special journals.
- The General Journal system includes a template and a chart of accounts.
- The company uses various reports to track PR and PO listings, order discrepancies, A/P summary, aging of open invoices, and paid and unpaid billing.
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