Computerized Accounting Final || with Certified Answers.
A report that provides information on the overall financial strength of a business on a specific
date is a(n): correct answers Balance Sheet
Under the sum-of-the-years' digits depreciation method, the same amount of depreciation is
recorded for each accounting period over the useful life of the asset. correct answers False
The Tax Tables tab in the Customize Accounting System window can be used to update rates and
limits. correct answers True
In the purchases journal, the entry made automatically by the computer is the: correct answers
credit to accounts payable
When the gross profit statement report is chosen, a separate report is generated for each
department first and then a consolidated gross profit statement is also prepared. correct answers
True
The default command button is identified by: correct answers a dotted line and/or shadow around
the button
Under the double-declining balance method, the salvage value is ignored in the calculations;
however, the asset is not depreciated below the salvage value. correct answers True
A corporation has many of the legeal rights of a person. correct answers True
An underlined letter within the name of a menu item that may be keyed to choose that menu item
(provided the drop-down menu is visible) is called a(n) correct answers Access key
, Certain accounts specified during setup, called required accounts, are used by the computer to
prepare financial statements, carry out integration among the systems, and to complete period-
end closing. correct answers True
An interval of time for which a business analyzes its financial information is called a: correct
answers fiscal period
A rectangular area of the screen in which the software is communicating with the user is called
a(n): correct answers window
During the period-end closing process, closing entries are automatically generated that close the
balance sheet accounts to the Income Summary account. correct answers False
A partnership is an organization that exists separately from its owners correct answers False
A credit memorandum transaction is entered in the general journal. correct answers True
Buttons that provide a shortcut method of accessing frequently used menu items continuously
displayed near the top of the screen is: correct answers toolbar
A list of choices (designated by a down arrow symbol) associated with a text box or grid cell is
called a: correct answers drop-down list
The function key that calls up context sensitive help at any time is the: correct answers F1 key
A character that appears within a text box or grid cell (controlled by the mouse or arrow keys) to
mark the position where data will be entered or added next is called a(n) correct answers
insertion point
A report that provides information on the overall financial strength of a business on a specific
date is a(n): correct answers Balance Sheet
Under the sum-of-the-years' digits depreciation method, the same amount of depreciation is
recorded for each accounting period over the useful life of the asset. correct answers False
The Tax Tables tab in the Customize Accounting System window can be used to update rates and
limits. correct answers True
In the purchases journal, the entry made automatically by the computer is the: correct answers
credit to accounts payable
When the gross profit statement report is chosen, a separate report is generated for each
department first and then a consolidated gross profit statement is also prepared. correct answers
True
The default command button is identified by: correct answers a dotted line and/or shadow around
the button
Under the double-declining balance method, the salvage value is ignored in the calculations;
however, the asset is not depreciated below the salvage value. correct answers True
A corporation has many of the legeal rights of a person. correct answers True
An underlined letter within the name of a menu item that may be keyed to choose that menu item
(provided the drop-down menu is visible) is called a(n) correct answers Access key
, Certain accounts specified during setup, called required accounts, are used by the computer to
prepare financial statements, carry out integration among the systems, and to complete period-
end closing. correct answers True
An interval of time for which a business analyzes its financial information is called a: correct
answers fiscal period
A rectangular area of the screen in which the software is communicating with the user is called
a(n): correct answers window
During the period-end closing process, closing entries are automatically generated that close the
balance sheet accounts to the Income Summary account. correct answers False
A partnership is an organization that exists separately from its owners correct answers False
A credit memorandum transaction is entered in the general journal. correct answers True
Buttons that provide a shortcut method of accessing frequently used menu items continuously
displayed near the top of the screen is: correct answers toolbar
A list of choices (designated by a down arrow symbol) associated with a text box or grid cell is
called a: correct answers drop-down list
The function key that calls up context sensitive help at any time is the: correct answers F1 key
A character that appears within a text box or grid cell (controlled by the mouse or arrow keys) to
mark the position where data will be entered or added next is called a(n) correct answers
insertion point
