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Study Resources (Accounting)

Multiple Choice Questions 6.The first step in creating a data capture control is to:                             choose Tools, View, then Control Toolbox.                            choose Tools, Toolbox, then Forms.                             choose View, Tools, then Forms.                            choose View, Tools, then Control Toolbox. 7.A combo box is another name for a:                             list box.                            drop-down menu.                             radio button.                            check box. 8.After.
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  Fill in the Blanks 11.The ____________ command resets all of the choices to those originally provided within the HTML commands. 12.A ____________ allows the user to enter several lines of data into a single input. 13.Organizations need to capture information from Web site visitors in order to make their Web sites ____________. 14.A ____________.
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11) Martin Supply Service received $1,000 cash from a customer which was owed to the business from the previous month. Which of the following accounts would decrease as a result of this transaction? A) Cash B) Equity C) Accounts Payable D) Accounts Receivable 12) Ace Inc. had the following transactions in June: Sold goods for.
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  Multiple Choice Questions 6.If a customer is charged 1% interest for an invoice that is 30 days, and the invoice amount is in Cell F8, the formula for the new invoice total would be:                             =F8*101%.                            =F8*1%.                             =F8*.01.                            =F8*1.01%. 7.Which command deletes datasheets?                             Choose Edit, then choose Delete.                            Choose Format, then choose Delete.
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18) Which of the following is the correct order of preparation of financial statements? A) income statement → statement of owner's equity → balance sheet → statement of cash flows B) statement of owner's equity → balance sheet → income statement → statement of cash flows C) balance sheet → statement of owner's.
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11) Different users of financial statements focus on the different parts of the financial statements for the information they need. 12) Any person or business to whom a business owes money is called the business's creditor. 13) Managerial accounting provides information to: A) internal decision makers. B) outside investors and lenders. C) auditors. D) taxing authorities. 14).
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True-False Questions 1.Reports based on query results must usually be modified from the default report settings to create visually appealing reports. 2.Fields from different tables can be combined when a common value exists between the tables. 3.Reporting unmatched records is achieved by editing the tables to create a match. 4.Using the Join option can.
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Essay Questions 16.Why are recording macros by keystrokes important to the manager? 17.What are two reasons it is important to know how to capture data in spreadsheets with mouse clicks? 18.Why does the use of mouse clicks to capture data require more effort when designing the spreadsheet? 19.What are the advantages to recording the.
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Learning Objective 1-4 1) A business owner starts a new business and invests $6,000 of capital. This transaction results in an increase in the assets of the business. 2) For an accounting equation to balance, a transaction must affect both the sides of the equation. 3) John contributes cash in exchange for capital.
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  Multiple Choice Questions 6.Which statement is false regarding drop-down menus?                             Drop-down menus offer mutually exclusive choices.                            Drop-down menus take up more space on the screen than do radio buttons.                             Drop-down menus are superior to radio buttons when there are numerous choices.                            Drop-down menus do not display all of the choice options.
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  Multiple Choice Questions 6.The first step in creating a data capture control is to:                             choose Tools, View, then Control Toolbox.                            choose Tools, Toolbox, then Forms.                             choose View, Tools, then Forms.                            choose View, Tools, then Control Toolbox. 7.A combo box is another name for a:                             list box.                            drop-down menu.                             radio button.                            check box. 8.After.
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True-False Questions 1.Records from different tables can be combined when a common value exists between the two tables. 2.Data rules in the definition of the data field itself are automatically enforced within a form. 3.To view the form’s design, choose View, and then choose Design. 4.A report can be created by choosing the “Create.
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  Essay Questions 16.What are the five most common techniques for capturing information from a Web site? 17.What are the advantages of each of the five most common techniques? 18.What are the two characteristics common to each input field? 19.Which commands tell the Web browser that the Web page will capture information from the user? 20.What.
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  Multiple Choice Questions 6.Which of the following is not a method for creating a query?                             Double-clicking Create query in design view.                            Double-clicking Create query by using wizard.                             Clicking the New button on the toolbar.                            Double-clicking Create query in table view. 7.Which of the following statements is false regarding Access queries?                             QBE is.
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True-False Questions 1.Data is the essential tool of a decision maker. 2.To see the results of a query, choose View, then choose Datasheet View. 3.Typing <75 or >100 in the Criteria row is the correct use of the OR query in QBE. 4.Action queries let the user provide a value as the query runs. 5.Constraints.
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True-False Questions 1.Drop-down menus, radio buttons, and check boxes are used to capture a user’s choices. 2.The control for the data capture techniques is created before values are specified. 3.The Control Toolbox is used for adding the data capture controls to the spreadsheet. 4.Making the same cell link for a group of radio buttons.
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  Fill in the Blanks 11.The general format of the ____________ function is to specify an index and then specify the choices based on the index. 12.The ____________ toolbar displays the form choice icons. 13.A drop-down menu, radio buttons, and a check box are used to ____________ the user’s choices. 14.It is important to know.
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  Fill in the Blanks 11.____________ on fields containing text can be difficult to create because what constitutes a match may be ambiguous. 12.____________ queries let a user provide a value as the query runs. 13.Access uses two characters as ____________ in the matching of text fields. 14.It is important for ____________ to be able.
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Fill in the Blanks 11.____________ can be generated in Excel either by writing programming code or by recording the sequence of keystrokes performed by the user. 12.When saving a file, Excel will automatically add the ____________ extension to the file name. 13.A drop-down menu is also called a ____________. 14.The use of ____________ to.
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True-False Questions 1.The highlighted tab at the bottom of a datasheet displays the creation date of the datasheet. 2.The appearance of a spreadsheet should be in a form that aids decision making. 3.Calculations should be entered into the spreadsheet before data values. 4.The “IF” statement is considered a conditional formula. .
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  Multiple Choice Questions 6.Which statement is false regarding reports?                             Reports based on query results must usually be modified to create visually appealing reports.                            Data is the essential tool of a decision maker.                             The understanding of the database gained by writing queries trains a decision maker to use that tool better.                            Creating.
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12) Members of a limited-liability company (LLC) are not personally liable for the debts of the business. 13) A business can be organized as a sole proprietorship, partnership, corporation, or limited-liability company (LLC). 14) In a limited-liability company (LLC), the members are personally liable for the debts of the business. 15) The Sarbanes-Oxley.
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6) Which of the following statements helps analyze the business performance in terms of profitability? A) income statement B) balance sheet C) statement of cash flows D) statement of owner's equity 7) Which of the following financial statements is used to analyze the economic resources, debt, and overall financial position of a company? A) income statement B).
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  Fill in the Blanks 11.Decision makers may wish to limit the information in a report by using a ____________ query. 12.When the query is run, the results are displayed, but the ____________ of the parameter is not reported. 13.It is more difficult to capture values entered in a ____________ query to be displayed.
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31) Following is a list of account balances of Wilson Mowing Service as of December 31 of the first year of operation: Accounts receivable $2,500 Accounts payable 3,500 Salary expense 4,500 Repairs expense 800 Truck 8,500 Equipment 6,300 Notes payable 8,200 Cash 6,800 Supplies expense 1,600 Service revenue 31,900 Gasoline expense 3,800 Salary payable 200 Calculate the net income. A) $21,200 B) $11,900 C) $12,200 D) $24,100 32) The total assets and the total liabilities of Samantha Financial Services, are.
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True-False Questions 1.Text areas allow multiple lines while a text field allows only a single line. 2.The <form> command tells the Web browser that the Web page will engage in capturing information from the user. 3.Drop-down menus are also called selection boxes. 4.For the choices to be mutually exclusive, each field name must be.
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  Multiple Choice Questions 6.Which of the following is not a method for creating a query?                             Double-clicking Create query in design view.                            Double-clicking Create query by using wizard.                             Clicking the New button on the toolbar.                            Double-clicking Create query in table view. 7.Which of the following statements is false regarding Access queries?                             QBE is.
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  Multiple Choice Questions 6.Which of the following is not a method of creating a form?                             Clicking the New button on the toolbar.                            Double-clicking “Create form in design view.”                             Double-clicking “Create form by using wizard.”                            Double-clicking “Create form by entering data.” 7.The first step in creating a form using the wizard is to:                            .
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  Fill in the Blanks 11.____________ should be used for exclusive choices when the number of choices is limited. 13.A ____________ is one technique for capturing data where a user types in one line of data. 14.A ____________ enables a user to enter several lines of data into a single input. 15.____________ provide a mechanism.
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  Learning Objective 1-1 1) Accounting is the information system that measures business activities, processes the information into reports, and communicates the results to decision makers. 2) Accounting is referred to as the language of business because it is the method of communicating business information to stakeholders. 3) Managerial accounting focuses on information for.
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True-False Questions 1.Data is the essential tool of a decision maker. 2.To see the results of a query, choose View, then choose Datasheet View. 3.Typing <75 or >100 in the Criteria row is the correct use of the OR query in QBE. 4.Action queries let the user provide a value as the query runs. 5.Constraints.
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  Fill in the Blanks 11.An Access ____________ is a single file. 12.One caution about using database ____________ is that the size of the database file can grow quickly. 13.Within Access, you can use the ____________ command to cut and paste objects. 14.Users like to use features such as the ____________ command that can easily.
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8) Financial statements are prepared after an entity's transactions are analyzed and recorded. Which of the following reports is one of the required financial statements? A) Statement of cash flows B) Statement of return on assets C) Statement of withdrawals D) Expense statement 9) The statement of owner's equity shows the changes in Owner's capital..
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  Fill in the Blanks 11.____________ are a common business application. 12.____________ can be used to perform calculations and conditional logic that would otherwise be difficult for managers to carry out. 13.An “IF” statement tells Excel that a ____________ will be placed in the cell based on certain conditions. 14.The ordering of the “IF” statements.
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2) The guidelines for accounting information are called Generally Accepted Accounting Principles (GAAP). 3) IFRS is the main U.S. accounting rule book and is currently created and governed by the FASB. 4) A publicly traded company in the United States does not come under SEC regulations as long as it follows the.
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22) Which of the following statements is true of a sole proprietorship? A) A sole proprietorship joins two or more individuals as co-owners. B) The sole proprietor is personally liable for the liabilities of the business. C) A sole proprietorship is taxed separately from the owner. D) A sole proprietorship does not terminate at.
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  Essay Questions 16.Why is the ordering in nested “IF” statements critical? 17.How do managers reduce the risk of mathematical errors and why? 18.How do you center the text in a range of cells? 19.Explain why spreadsheets are considered to be a common business application. .
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  Learning Objective 2-1 1) A chart of accounts is a detailed record of the changes in a particular asset, liability, or owner's equity. 2) A chart of accounts is a list of all of a company's accounts with their account numbers. 3) Liabilities are economic resources that are expected to benefit the business.
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  Essay Questions 16.Why are recording macros by keystrokes important to the manager? 17.What do you do if your school has set macro security such that Excel does not want to run a spreadsheet with macros? 18.What are the commands to stop recording a macro? 19.Why wouldn’t you want to execute .
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  Fill in the Blanks 11.A ____________ is a wildcard match for a single character. 12.The ____________ is a wildcard that matches any value or string of values, even a null value. 13.Sometimes a decision maker will know which____________ constrains a query but not know the value of the constraint. 14.When using ____________ in a.
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True-False Questions 1.The use of mouse clicks to capture data improves the quality and speed of data capture from the user. 2.The control for the data capture techniques is created before values are specified. 3.The Control Toolbox is used for adding the data capture controls to the spreadsheet. 4.Making the same cell link for.
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