MISY 5340 Chapter 3 questions n answers graded A+ 2023/2024

MISY 5340 Chapter 3_____________ is concerned with recording the financial impacts of business processes as they are executed. A. Management Accounting B. Financial Accounting (FI) C. Controlling (CO) D. Bank ledger accounting E. None of the above - correct answer B. Financial Accounting Which of the following is a key process in financial accounting? A. Sales order processing B. Accounts receivable accounting C. Credit management D. Income verification E. All of the above - correct answer B. Accounts receivable accounting Which process is used to manage money owed by customers for goods and services purchased from the company? A. general ledger accounting B. Accounts receivable accounting C. Fixed asset accounting D. bank Ledger Accounting E. All of the Above - correct answer B. accounts receivable accounting Which Process is concerned with recording data associated with bank statements? A. Bank ledger accounting B. Fixed asset accounting C. General ledger accounting D. Accounts receivable accounting E. None of the above - correct answer A. Bank ledger accounting _______________ are internal divisions of an enterprise that are used to define areas of responsibility or to meet the external reporting requirements of an enterprise segment. A. Cost centers B. Depreciation areas C. Business areas D. Sub-ledgers E. None of the Above - correct answer C. Buisness areas Which term refers to an ordered listing of accounts that comprise a company's general ledger? A. General ledger B. Balance sheet C. Bank Ledger D. Chart of Accounts E. None of the above - correct answer D. Chart of accounts Which term represents what a company owns, such as cash, inventory of materials, and buildings? A. Liabiblities B. Equity C. Assets D. Revenues E. None of the above - correct answer C. Assets