Question : 85. Chandler Company purchased merchandise credit from Lighting Supply for $5,600. : 1257552

85. Chandler Company purchased merchandise on credit from Lighting Supply for $5,600. Chandler would record this sale in the:
A. General journal
B. Cash receipts journal.
C. Cash disbursements journal.
D. Purchases journal.
E. Accounts Payable controlling account.

86. Doughton Furniture Company purchased merchandise on credit from Furniture Supply for $8,000. Two days later Doughton returned $2,000 of the merchandise due to damage. Doughton would record the return of merchandise in the:
A. General journal
B. Cash receipts journal.
C. Cash disbursements journal.
D. Purchases journal.
E. Accounts Payable controlling account.

87. Doughton Furniture Company purchased merchandise on credit from Furniture Supply for $8,000. Two days later Doughton returned $2,000 of the merchandise due to damage. When Doughton pays for the merchandise minus the return, it would record the payment in the:
A. General journal
B. Cash receipts journal.
C. Cash disbursements journal.
D. Purchases journal.
E. Accounts Payable controlling account.

88. Enterprise-resource planning software: 
A. Refers to programs that help manage a company’s vital operations.
B. Is another name for spreadsheet programs.
C. Uses batch processing of business information.
D. Is substantially declining in use.
E. Is another name for database programs.

89. An approach that enters and processes data into the accounting system as soon as source documents are available is called: 
A. Date storage.
B. Batch processing.
C. Online processing.
D. Computer programming
E. Web communications.

90. Which of the following is nottrue about enterprise resource planning (ERP) software: 
A. ERP refers to programs that help manage a company’s vital operations.
B. ERP can include programs that extend from order taking to manufacturing to accounting.
C. ERP can speed up business decision making and help reduce costs.
D. ERP cannot be used to share data with customers and suppliers.
E. ERP can be designed to link every part of a company’s operations.

91. A business segment is part of a company that: 
A. Requires only internal reporting.
B. Is separately identified by its products, services, or geographic market.
C. Requires special journals.
D. Requires subsidiary ledgers.
E. Cannot report its results separately.

92. Alani’s Hawaiian segment had revenues of $2,075 million, operating income of $1,500 million, and average assets of $1,450 million. The Hawaiian segment return on assets is: 
A. 72.3%
B. 69.9%
C. 103.4%
D. 96.7%
E. 138.3%

93. The segment return on assets: 
A. Is applicable whether segments earn profits or losses.
B. Reflects on the profitability of a segment.
C. Is difficult to calculate because companies with traded stock are not required to report segment information.
D. Is calculated as segment average assets divided by segment operating income.
E. Is calculated as segment sales divided by segment average assets.

94. When posting the sales journal’s activity at the end of the month, its totals are: 
A. Debited to Sales and credited to Accounts Receivable.
B. Debited to Accounts Receivable and credited to Cash.
C. Debited to Cash and credited to Accounts Receivable.
D. Debited to Accounts Receivable and credited to Sales.
E. Debited to Cash and credited to Sales.