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Exam (elaborations)

SUA Exam Questions With Correct Answers.

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SUA Exam Questions With Correct Answers. Identify the three most common transaction cycles - answer1. 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 - answer1. Sales jour...

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  • September 17, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • SUA
  • SUA
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SUA Exam Questions With Correct Answers.


Identify the three most common transaction cycles - 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 - 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 -
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 - answer✔Accounts
receivable

What is the general ledger control account for the AP subsidiary ledger - answer✔Accounts
payable

What can be a control account for the fixed assets subsidiary ledger - 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 - answer✔General ledger
What term matches this definition: a document for recording transactions not recorded in
specialized journals - answer✔General journal

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