MISY 5340 ERP EXAM SCRIPT
COMPREHENSIVE STUDY GUIDE
●● 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
Answer: B. Accounts recievable 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
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
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
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
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
Answer: C. Assets
●● Which term represents what a company owes to others, including
money owed to vendors and loans from financial institutions?
A. Liabilities
B. Equity
C. Assets
D. Revenues
E. None of the above
Answer: A. Liabilities
, ●● Which term represents the monies a company earns by selling its
products and services?
A. Liabilities
B. Assets
C. Expenses
D. Revenues
E. Equity
Answer: D. Revenue
●● Which term represents the monies a company earns by selling its
products and services?
Answer: B. Expenses
●● Which element is not a part of the typical company cody data in
general ledger accounts?
A. Tax-related data
B. Field status groups
C. Line item display
D. Reconciliation account data
E. None of the above
Answer: E. None of the above
COMPREHENSIVE STUDY GUIDE
●● 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
Answer: B. Accounts recievable 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
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
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
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
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
Answer: C. Assets
●● Which term represents what a company owes to others, including
money owed to vendors and loans from financial institutions?
A. Liabilities
B. Equity
C. Assets
D. Revenues
E. None of the above
Answer: A. Liabilities
, ●● Which term represents the monies a company earns by selling its
products and services?
A. Liabilities
B. Assets
C. Expenses
D. Revenues
E. Equity
Answer: D. Revenue
●● Which term represents the monies a company earns by selling its
products and services?
Answer: B. Expenses
●● Which element is not a part of the typical company cody data in
general ledger accounts?
A. Tax-related data
B. Field status groups
C. Line item display
D. Reconciliation account data
E. None of the above
Answer: E. None of the above
