Study guides, Class notes & Summaries

Question 1 Which of the following is false? A reference file stores data that are used as standards for processing transactions. A master file generally contains account data. An archive file contains records of past transactions that are retained for future reference. A transaction file is a temporary file of transaction records used to change or update data in a master file. All of the above are true. Question 2 Which of the following is true of the relationship between subsidiary ledgers and ...

Question 1 Which of the following is false? A reference file stores data that are used as standards for processing transactions. A master file generally contains account data. An archive file contains records of past transactions that are retained for future reference. A transaction file is a temporary file of transaction records used to change or update data in a master file. All of the above are true. Question 2 Which of the following is true of the relationship between subsidiary ledgers and ...

Question 1 Which of the following is false? A reference file stores data that are used as standards for processing transactions. A master file generally contains account data. An archive file contains records of past transactions that are retained for future reference. A transaction file is a temporary file of transaction records used to change or update data in a master file. All of the above are true. Question 2 Which of the following is true of the relationship between subsidiary ledgers and ...