Question

An accounting information system is said to have good compatibility if it:

A) works smoothly with the business's employees and organizational structure.

B) safeguards a business's assets and reduces the likelihood of fraud and errors.

C) provides information that will improve decision making and reduce uncertainty.

D) can accommodate changes in the business over time.

An accounting information system is said to have good flexibility if it:

A) works smoothly with the business's employees and organizational structure.

B) safeguards a business's assets and reduces the likelihood of fraud and errors.

C) provides information that will improve decision making and reduce uncertainty.

D) can accommodate changes in the business over time.

A special journal is:

A) an accounting journal designed to record a specific type of transaction.

B) an accounting journal that holds individual accounts that support a specific general ledger account.

C) a record of accounts that provides supporting details on individual balances, the total of which appears in a general ledger account.

D) a created list of the accounts used by a business entity to define each class of items for which cash is spent or received.

Adjusting entries are recorded in the ________.

A) cash payments journal

B) purchases journal

C) cash receipts journal

D) general journal

A subsidiary ledger is:

A) an accounting journal designed to record a specific type of transaction.

B) a created list of the accounts used by a business entity to define each class of items for which cash is spent or received.

C) a complete record of business transactions recorded in a ledger over the life of a company.

D) a record of accounts that provide supporting details on individual balances, the total of which appears in a general ledger account.

Answer 1

1) The correct answer is A because a compatibility principle in accounting information system is defined as that an accounting information system conform with a company's activities, personnel, and structure

2) The correct answer is D because a flexibility principle in accounting information system is defined as that an accounting information system must be able to adapt to changes in the company, business environment and needs of decision makers

3) The correct answer is A because A special journal is an accounting journal designed to record one specific type of transaction.

4) The correct answer is D because adjusting entries are recorded to update general ledger accounts at the end of a fiscal period.

5) The correct answer is D because A Subsidiary Ledger is record of accounts that provides supporting details on individual balances, the total of which appears in a general ledger account.

Thank you....