NBE Practice Exam- Accounting/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 are input devices for a computer? 1- mouse 2- keyboard 3-printer 4- monitor
1 and 2 only
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
The accounting expression 3/15, n/30 means a(n):
3% discount if paid in 15 days, with full payment due 30 days from date of invoice
A funeral home has $90,000 of accounts receivable. $50,000 of that is current, $10,000 is in the 30 to 60 day column, and $20,000 is in the 60 to 90 day column, and $10,000 is over 90 days. What percent of the accounts receivable is past due?
44%
96 megabytes would roughly be equivalent to:
96 million characters
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 is called the control unit, arithmetic unit, and memory unit is the:
CPU
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
Compared with a traditional card catalog, which of the following is an advantage of an electric card catalog?
allows sophisticated search strategies
The things of value owned by a business are called:
assets
The basic accounting equation is:
assets= liabilities + capital
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 a(n):
computer
When a net profit is closed to capital, the capital account is
credited
A business or individual to whom a debt is owed is a(n):
creditor
If the operator does not assign values in computer operations, the computer automatically can assign:
default values
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
Telecomputing involves the transmission of all of the following except which one?
disks
The terms hard and floppy describes types of:
disks
To erase and prepare a diskette for use in a computer requires the operator to:
format the diskette
Bryan has created a 10 page story but wants to print only the first two pages. Which printer command should he select?
from ______ to______
For a social studies report, Fred needs to illustrate the products of North Carolina with pictures and comparison graphs. He would most likely use what software programs?
graphing a clip art
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 lists the proper order of accounting procedures?
journal, ledger, trial balance, financial statements
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
Which of the following is a computer output device:
monitor/display
A circuit board that contains most of the electronic components of the system is called the:
mother board
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 trial balance
What is the PRIMARY function of word-processing software?
producing written documents
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 the cash
A liquidity ration that measures the ability of a firm to meet its current debt on short notice is called what type of ration?
quick asset
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 extra cost are known as what software type?
shareware
Before selecting a computer for use in a funeral home, you should determine the correct:
software
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
Anything of value owned is considered:
an asset
The difference between the total debits and the total credits in an account is the:
balance
Which term refers to the speed at which information is telecomputed?
baud rate
Which one of the following is the computer equivalent of a FAX?
From W-4 is a(n)
employee's withholding allowance certificate
FICA refers to what taxes?
federal income tax
A plastic disc on which date can be stored magnetically is called a:
floppy disk
Beginning inventory plus purchases for the period yields:
goods available for sale
The two main classifications of claims against a firm's assets are:
Liabilities and owner's equity
Income received in advance is:
Unearned
A duplicate of an original program or data made as a precaution against loss or damage of the original is called:
a backup
All of the following are examples of electronic databases except which one?
a collection of country-music DVD's
The type of ledger that contains all the accounts shown in a trial balance is known as:
a general ledger
The legal obligation of a business to pay a debt is called a(n):
ablitiy
What is the function of a disk drive?
to read from or write information of a floppy disk
The financial statement that shows the financial position of a company on a particular date:
trial balance
A word processor would most likely be used to do which of the following?
type a biography
