11)
True or False: The existence of relevant data guarantees the data are useful.
12)
Identify the item below that is not one of the four different types of
data processing activities.
A)
creating
B)
reading
C)
using
D)
deleting
13)
What is the final step in the data processing cycle?
A)
output
B)
storage
C)
processing
D)
input
2.2 Describe documents and procedures used to
collect and process transaction data.
1)
The general ledger
A)
is the initial place to record general expenses.
B)
is posted in total to the general journal.
C)
only includes balance sheet accounts.
D)
summarizes the transactions in journals.
2)
For a retail business, a delivery of inventory, from a vendor (with whom there
is an established credit relationship) would be initially recorded in which
type of accounting record as part of which transaction cycle?
A)
purchases journal; expenditure cycle
B)
general journal; expenditure cycle
C)
general ledger; expenditure cycle
D)
cash disbursements journal; production cycle
3)
Data must be collected about three facets of each business activity. What are
they?
A)
the business activity, the resources it affects, the people who participate
B)
the business activity, the transactions it creates, the impact on the financial
statements
C)
the inputs, outputs and processes used
D)
who is involved, what was sold, how much was paid
4)
Issuing a purchase order is part of which transaction cycle?
A)
the revenue cycle
B)
the expenditure cycle
C)
the human resources cycle
D)
the production cycle
5)
The collection of employee time sheets is part of which transaction cycle?
A)
the revenue cycle
B)
the production cycle
C)
the human resources cycle
D)
the expenditure cycle
6)
Common source documents for the revenue cycle include all of the following except
A)
sales order.
B)
receiving report.
C)
delivery ticket.
D)
credit memo.
7)
Which of the following documents would be found in the expenditure cycle?
A)
delivery ticket
B)
time card
C)
credit memo
D)
purchase order
