SUA SYMBOLS EXAM SET
QUESTIONS AND ANSWERS
Remittance advice - ANSWER-a document that accompanies the sales invoice
mailed to the customer and can be returned to the seller with the cash payment.
Document - ANSWER-paper documents and reports of all types. Examples; sales
invoice, receiving report, time card/time report
Flowlines - ANSWER-Direction of processing or data flow. A solid Lin indicates a
document flow; a dotted line indicates an information flow
online storage - ANSWER-the process flow as opposed to data which could be also
stored on a hard drive, magnetic tape, memory card, of any other storage device.
process - ANSWER-used to represent a process, action step or an operation. While
these are pictured with rectangles, the text in the rectangle mostly includes a verb.
manual input - ANSWER-signifies an action where the user is prompted for
information that must be manually input into a system.
steps in the accounting process - ANSWER-1. Transactions Occur
2. Prepare Documents
3. Record in Journals
4. Post to Ledgers
5. Prepare Unadjusted General Ledger Trial Balance
6. Prepare and Post Adjusting Entries
7. Prepare Adjusted Trial Balance
8. Prepare Financial Statements
9. Prepare Closing Entries
General Ledger - ANSWER-summarizes the transactions in journals by account
balances.
Subsidiary ledger - ANSWER-acts as a support
cash receipts prelist - ANSWER-a list prepared when cash is received which lists
each cash receipt. this document is used later to verify whether cash received was
recorded and deposited at the correct amounts and on a timely basis.
Sales return and allowances - actions - ANSWER-1. Process sales return and
allowance request
2. Receive goods (returns only)
3. Credit the customer
4. Record in sales return and allowances journal & subsidiary ledger
5. Summarize sales return and allowances journal & post to general ledger.
QUESTIONS AND ANSWERS
Remittance advice - ANSWER-a document that accompanies the sales invoice
mailed to the customer and can be returned to the seller with the cash payment.
Document - ANSWER-paper documents and reports of all types. Examples; sales
invoice, receiving report, time card/time report
Flowlines - ANSWER-Direction of processing or data flow. A solid Lin indicates a
document flow; a dotted line indicates an information flow
online storage - ANSWER-the process flow as opposed to data which could be also
stored on a hard drive, magnetic tape, memory card, of any other storage device.
process - ANSWER-used to represent a process, action step or an operation. While
these are pictured with rectangles, the text in the rectangle mostly includes a verb.
manual input - ANSWER-signifies an action where the user is prompted for
information that must be manually input into a system.
steps in the accounting process - ANSWER-1. Transactions Occur
2. Prepare Documents
3. Record in Journals
4. Post to Ledgers
5. Prepare Unadjusted General Ledger Trial Balance
6. Prepare and Post Adjusting Entries
7. Prepare Adjusted Trial Balance
8. Prepare Financial Statements
9. Prepare Closing Entries
General Ledger - ANSWER-summarizes the transactions in journals by account
balances.
Subsidiary ledger - ANSWER-acts as a support
cash receipts prelist - ANSWER-a list prepared when cash is received which lists
each cash receipt. this document is used later to verify whether cash received was
recorded and deposited at the correct amounts and on a timely basis.
Sales return and allowances - actions - ANSWER-1. Process sales return and
allowance request
2. Receive goods (returns only)
3. Credit the customer
4. Record in sales return and allowances journal & subsidiary ledger
5. Summarize sales return and allowances journal & post to general ledger.
