Question : 81. The accounts receivable ledger: A. Is for storing transaction data for customers. B. Is : 1225876

 

81. The accounts receivable ledger: 

A. Is for storing transaction data for customers.

B. Is for storing transaction data for individual customers.

C. Is for storing transaction data for individual creditors.

D. Is for storing transaction date for creditors.

E. Is also the controlling account.

82. 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.

83. An approach that enters and processes data as soon as source documents are available is called: 

A. Date storage.

B. Batch processing.

C. Online processing.

D. Computer programming

E. Web communications.

84. Which of the following does not apply to 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 can not be used to share data with customers and suppliers.

E. ERP can be designed to link every part of a company’s operations.

85. A business segment: 

A. Requires only internal reporting.

B. Is a part of a company that is separately identified by its products, services, or geographic market.

C. Requires special journals.

D. Requires subsidiary ledgers.

E. Cannot report its results separately.

86. Kala’s Latin American segment had revenues of $2,089 million, operating income of $1,033 million, and average assets of $1,443 millions. The Latin American segment return on assets is: 

A. 49.4%

B. 69.0%

C. 71.6%

D. 139.7%

E. 144.8%

87. The segment return on assets: 

A. Can only be determined for international companies.

B. Reflects 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.

88. When the sales journal’s column for accounts receivable and sales is totaled at the end of the month, its total is: 

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.

89. A list of all the accounts in the accounts receivable ledger with their balances and the total is a(n): 

A. Schedule of accounts.

B. Controlling account.

C. Schedule of accounts receivable.

D. Subsidiary ledger.

E. Special journal.

90. The Accounts Payable account in the general ledger is: 

A. A controlling account for the subsidiary accounts payable ledger.

B. The account that controls the purchases journal.

C. The subsidiary account to the purchases journal.

D. Part of a special journal.

E. Part of a subsidiary ledger.

 

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