Funeral Director ARTS: Accounting/Computers
This is an example of an operating system.*
XP Service Pack 2
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%
Which one of the following is the computer equivalent of a FAX?
A word processor would most likely be used to do which of the following?
Maintain an inventory
When a net profit is closed to capital, the capital account is:
Opened.
What is the interest on a $ 1,000 note for 1 month at an 8% annual interest rate?
$6.67
The accounting expression " 3/15, n/30" means a:
15% discount if paid in 3 days. With a full payment due by the 30th of the month.
Examples of vertical market software would be: 1-Microsoft Office, 2-The Funeral Director's Assistant, 3-Microsoft Power Point, 4-Funeral Director's Management System (FDSM 2000).
2 and 4 only
96 megabytes would be roughly equivalent to:
96 million characters.
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 + Capital
Which term refers to the speed at which information is telecomputed?
Baud rate
A business or individual to whom a debt is owed is a:
Debtor
If the operator does not assign values in computer operations, the computer automatically can assign:
Default values.
Anything of value owned is considered:
An asset
Any debts that a business or a individual owes.*
Liabilities
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 statements of payments
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
The type of ledger that contains all the accounts shown in a trial balance is known as:
A general ledger
The things of value owned by a business are called:
Assets
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
Income received in advance is:
Accrued
The difference between the total debits and the total credits in an account is the:
Balance
The financial statement that shows the financial position of a company on a particular date:
Income statement
