SUA Quiz UPDATED Actual Exam Questions and CORRECT Answers
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Course
SUA
Institution
SUA
SUA Quiz UPDATED Actual Exam
Questions and CORRECT Answers
Identify the three most common transaction cycles - CORRECT ANSWER- 1. Sales and
cash receipts
2. Puchases and cash dibursements
3. Payroll
List the 6 specialized (special) journals used in an accounting info system- by name and
a...
SUA Quiz UPDATED Actual Exam
Questions and CORRECT Answers
Identify the three most common transaction cycles - CORRECT ANSWER- ✔✔1. Sales and
cash receipts
2. Puchases and cash dibursements
3. Payroll
List the 6 specialized (special) journals used in an accounting info system- by name and
abbreviation - CORRECT ANSWER- ✔✔1. Sales journal (SJ)
2. Cash receipts journal (CR)
3. Purchases journal (PJ)
4. Cash disbursements journal (CD)
5. Payroll journal (PR)
6. General journal (GJ)
What are the three commonly used subsidiary ledgers used in an accounting info system -
CORRECT ANSWER- ✔✔1. Accounts payable (AP) subsidiary ledger
2. Accounts receivable (AR) subsidiary ledger
3. Fixed assets subsidiary ledger
What is the general ledger control account for the AR subsidiary ledger - CORRECT
ANSWER- ✔✔Accounts receivable
What is the general ledger control account for the AP subsidiary ledger - CORRECT
ANSWER- ✔✔Accounts payable
What can be a control account for the fixed assets subsidiary ledger - CORRECT ANSWER-
✔✔Delivery equipment, depreciation expense, and accumulated depreciation
What term matches this definition: a record used to summarize the transactions in journals by
account balances - CORRECT ANSWER- ✔✔General ledger
, What term matches this definition: a document for recording transactions not recorded in
specialized journals - CORRECT ANSWER- ✔✔General journal
What term matches this definition: a document indicating the amount of bad debts for a
period - CORRECT ANSWER- ✔✔Provision for bad debts memo
What term matches this definition: the journal used for the write off of uncollectible accounts
receivable - CORRECT ANSWER- ✔✔General journal
What term matches this definition: a prepared list that identifies accounts receivable that are
not likely to be collected - CORRECT ANSWER- ✔✔List of uncollectible accounts
receivable
What term matches this definition: a journal for recording sales returns and allowances -
CORRECT ANSWER- ✔✔Sales returns and allowances journal
What term matches this definition: a journal used for recording sales transactions or other
revenue; may also be used to record sales returns and allowances; record of original entry for
sales transactions - CORRECT ANSWER- ✔✔Sales journal (SJ)
What term matches this definition: a journal used to record all cash receipts; record of
original entry for cash receipts transactions; journal used for recording cash receipts from
collections, cash sales, and all other cash receipts - CORRECT ANSWER- ✔✔Cash receipts
(CR) journal
What term matches this definition: a journal for recording all purchases of goods and
services, except payroll; may also be used to record purchases returns and allowances; record
of original entry for every purchase transaction-records purchases of goods and services -
CORRECT ANSWER- ✔✔Purchases journal (PJ)
What term matches this definition: a journal for recording all cash disbursements made by
check, except payroll - CORRECT ANSWER- ✔✔Cash disbursements journal (CD)
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