FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- What is the most used software for accounting?arrow_forwardAll records in a file must be uniquely identifiable in at least one attribute, which is its primary key. Drawing on your general knowledge of accounting, identify the primary key for the following types of accounting records. To illustrate, the first record is done for you.Record Type Primary KeyAccounts Receivable Customer Number Accounts Payable Inventory Customer Sales Orders Purchase Orders to vendors Cash Receipts (checks) from customers Cash Disbursements (checks) to vendors Employee Payroll Earnings recordsarrow_forwardCompare between computerized accounting and manual accountingarrow_forward
- All of the following can provide source data except ________.A. a scanning device at the grocery storeB. a utility bill received in the mailC. a bar code readerD. software to process the source dataarrow_forwardThe major objectives of control are guard against frauds in data entry/processing check clerical handling of data before it enters a computer to provide a method to trace the steps and find where error has occurred automatically correct errors in data entry/processing Question 17Answer a. i and iii b. i,ii, iii, iv c. i, ii and iv d. i, ii, and iii e. i onlyarrow_forwardWhich is preferable: implementing a manual accounting information system or implementing a computerised accounting information system? What is the procedure for setting up the system?arrow_forward
- Which of the following is a set of rules that ensures data integrity and consistency in a relational database? A) Database Schema B) Referential Integrity Constraints C) Transaction Logs D) Backup Proceduresarrow_forwardWhat are the step(s) when using the Sales with Payment customer workflow? A. Create sales receipts deposited to the Undeposited Funds account > Create Bank Deposit B. Create Sales Receipt deposited to the checking account C. Create Bank Deposit D. Create Invoice > Receive Payment deposited to the Undeposited Funds account > Create Bank Depositarrow_forwardWhat is better: adopting a manual accounting information system or a computerized accounting information system? How to set up the system?arrow_forward
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