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Match the Following Terms with the Appropriate Definitions

Question 158

Matching

Match the following terms with the appropriate definitions:

Premises:

Responses:

The component of an accounting system that keeps data in a form accessible to information processors.

Purchases journal

A journal used to record all purchases on credit

Compatibility principle

An information system principle requiring that the benefits from an activity in an accounting information system outweigh the costs of that activity.

Segment margin

A general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger

Information storage

An information system principle requiring that an accounting information system conform with a company's activities, personnel and structure.

Controlling account

A journal used to record sales of merchandise on credit.

Cost-benefit principle

Any journal used for recording and posting transactions of a similar type.

Sales journal

The special journal that is used to record all receipts of cash.

Schedule of accounts receivable

A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets.

Cash receipts journal

A list of each customer from the accounts receivable ledger with their balances and the total.

Special journal

Premises:

The component of an accounting system that keeps data in a form accessible to information processors.

A journal used to record all purchases on credit

An information system principle requiring that the benefits from an activity in an accounting information system outweigh the costs of that activity.

A general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger

An information system principle requiring that an accounting information system conform with a company's activities, personnel and structure.

A journal used to record sales of merchandise on credit.

Any journal used for recording and posting transactions of a similar type.

The special journal that is used to record all receipts of cash.

A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets.

A list of each customer from the accounts receivable ledger with their balances and the total.

Responses:

Purchases journal

Compatibility principle

Segment margin

Information storage

Controlling account

Cost-benefit principle

Sales journal

Schedule of accounts receivable

Cash receipts journal

Special journal

Correct Answer:

Premises:

Responses:

The component of an accounting system that keeps data in a form accessible to information processors.

A journal used to record all purchases on credit

An information system principle requiring that the benefits from an activity in an accounting information system outweigh the costs of that activity.

A general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger

An information system principle requiring that an accounting information system conform with a company's activities, personnel and structure.

A journal used to record sales of merchandise on credit.

Any journal used for recording and posting transactions of a similar type.

The special journal that is used to record all receipts of cash.

A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets.

A list of each customer from the accounts receivable ledger with their balances and the total.