SUA CHAPTER #1 EXAM QUESTIONS
WITH CORRECT ANSWERS
Data = making process - ANSWER-facts that are collected, recorded, stored, and
processed by an information system
Information = - ANSWER-data that have been organized and processed to provide
meaning and improve decision-making process
Relevant-
Reliable-
Timely-
Accessible- - ANSWER-needs to make a difference to someone
free from errors and its accurate
provide it in time to make a decision
making sure the right employees have access to the right data
Complete-
Verifiable-
Understandable- - ANSWER-nothings missing
two independent people could try to produce the same number and they would both
get it
easily understood
AIS - ANSWER-acc info systems
The general journal is used to:
a. Post all accounting entries not posted in other individual journals b. Post all
accounting entries
c. Post all accounting entries not involving cash
d. Post only month-end adjusting entries
e. Post only year-end adjusting entries - ANSWER-a. Post all accounting entries not
posted in other individual journals
The accounting manager is interested in testing whether a sample of recorded credit
sales were actually ordered by customers, shipped to them and billed properly. In
this case, the accounting manager would most likely select a sample from which
source?
a. Customer-orders b. Sales invoices
c. Bills of lading
d. The general ledger e. The sales journal - ANSWER-e. The sales journal
Steps in the Accounting Process - ANSWER-1. Transactions Occur
WITH CORRECT ANSWERS
Data = making process - ANSWER-facts that are collected, recorded, stored, and
processed by an information system
Information = - ANSWER-data that have been organized and processed to provide
meaning and improve decision-making process
Relevant-
Reliable-
Timely-
Accessible- - ANSWER-needs to make a difference to someone
free from errors and its accurate
provide it in time to make a decision
making sure the right employees have access to the right data
Complete-
Verifiable-
Understandable- - ANSWER-nothings missing
two independent people could try to produce the same number and they would both
get it
easily understood
AIS - ANSWER-acc info systems
The general journal is used to:
a. Post all accounting entries not posted in other individual journals b. Post all
accounting entries
c. Post all accounting entries not involving cash
d. Post only month-end adjusting entries
e. Post only year-end adjusting entries - ANSWER-a. Post all accounting entries not
posted in other individual journals
The accounting manager is interested in testing whether a sample of recorded credit
sales were actually ordered by customers, shipped to them and billed properly. In
this case, the accounting manager would most likely select a sample from which
source?
a. Customer-orders b. Sales invoices
c. Bills of lading
d. The general ledger e. The sales journal - ANSWER-e. The sales journal
Steps in the Accounting Process - ANSWER-1. Transactions Occur
