Accounting and Computers
What is the interest on a $1,000 note for 1 month at an 8% annual interest rate?
$6.67
Which of the following is a computer output device?
- printer - monitor
Examples of vertical market software would be: 1. microsoft office, 2. the funeral directors assistant, 3. microsoft powerpoint, 4. funeral directors management system.
2 & 4
Bryan has created a 10 - page story but wants to print only the first two pages. Which printer command should he select?
From_______ To _______
A funeral home determines the amount of supplies used by which of the following methods?
Subtracting the cost of supplies on hand from the balance in the supplies account
When a net profit is closed to capital, the capital account is:
credited
The legal obligation of a business to pay a debt is called a(n):
liability
Which of the following accounts normally has a credit balance?
liability
Which of the following is a part of the CPU of a computer?
memory chip
The accounting expression "3/15, n/30" means a:
3% discount if paid in 15 days. With full payment due 30 days from date of invoice.
A funeral home shows the following balances: sales =$1,000,000; sales discounts = $100,000 cost of goods sold =$600,000. The gross profit percentage is:
33%
96 megabytes would be roughly equivalent to:
96 million characters
All of the following are examples of electronic databases except which one?
A collection of country-music CD's
Compared with a traditional card catalog, which of the following is an advantage of an electronic card catalog?
Allows sophisticated search strategies
The basic accounting equation is:
Assets = Liabilities + Stockholders' Equity
The computer part that performs all the controlling, calculating, and processing functions is the:
CPU
The portion of the computer that controls the functions of the system and is composed of the 3 sub-units called the control unit, arithmetic unit, and memory unit is the:
CPU
A circuit board that contains most of the electronic components of the system unit is called the:
CPU Board
The process of allocating the cost of plant and equipment to the periods expected to benefit from the use of these assets is called:
Depreciation Accounting
Form W-4 is a(n):
Employee's Withholding Allowance Certificate
A plastic disk on which data can be stored magnetically is called a:
Floppy disk
To erase and prepare a diskette for use in a computer requires the operator to:
Format the diskette
For a social studies report, Fred needs to illustrate the products of North Carolina with pictures & comparison graphs. He would most likely use what software programs?
Graphing & clip art
The two main classifications of claims against a firm's assets are:
Liabilities & owner's equity
Which of the following best describes uploading information?
Sending information to a host computer
Software programs that allow you to legally copy them, and/or give them away at no cost are known as what type of software?
Shareware
What is the function of a disk drive?
To read from or write information to a floppy disk
A word processor would most likely be used to do which of the following?
Type a biography
The steps involved in handling all of the transactions and events completed during an account period, beginning with placing the data in a book of original entry and ending with a postclosing trial balance, are referred to collectively as the:
accounting cycle
A debit to the purchases account would have a corresponding credit in which of the following accounts?
accounts payable
Anything of value owned is considered:
an asset
The things of value owned by a business are called:
assets
The financial statement that shows the financial position of a company on a particular date:
balance sheet
Which term refers to the speed at which information is telecomputed?
baud rate
What is a picture that is saved to a diskette and can be pasted into a document?
clip art
An electronic device that can accept data, perform instructions on the data, and deliver the results of the processed data is called:
computer
A business or individual to whom a debt is owed is a:
creditor
If the operator does not assign values in computer operations, the computer automatically can assign:
default values
Telecomputing involves the transmission of all of the following except which one?
disks
The terms hard and floppy describe types of what?
disks
Which one of the following is the computer equivalent of a fax?
The type of ledger that contains all the accounts shown in a trial balance is known as:
general ledger
Beginning inventory plus purchases for the period yields:
goods available for sale
What general term describes the physical equipment of a computer system, such as its video screen, keyboard, and storage devices?
hardware
Money paid for the use of money is called:
interest
Which of the following are input devices for a computer? 1. mouse, 2. keyboard, 3. printer, 4. monitor
mouse, keyboard
If the total of expenses is smaller than the total of revenues, the difference is termed:
net profit
Gross sales minus sales returns and allowances minus discounts on sales yields:
net sales
A trial balance of the general ledger accounts taken after the temporary owner's equity accounts have been closed is referred to as:
post-closing balance
The process of determining whether the amount of cash, both on hand and in bank, is the same as amount entered in the accounting records is called:
proving cash
A liquidity ratio that measures the ability of a firm to meet its current debt on short notice is called what type of ratio?
quick asset ratio
FICA refers to what taxes?
social security
Before selecting a computer for use in a funeral home, you should determine the correct:
software
What is the primary function of word-processing software?
to produce written documents
Income received in advance is:
unearned
Which of the following lists the proper order of accounting procedures?
Journal, ledger, trial balance, financial statements
A duplicate of an original program or data made as a precaution against loss or damage of the original is called:
backup
The difference between the total debits and the total credits in an account is the:
balance
