Sales receipts, purchase orders, and payroll records are all examples of accounting transactions that would be recorded by a(n)

Q: accounting is defined as the practice of keeping records of transactions and their

A: Accounting is the systematic recording, measuring, and reporting of all financial data. It is the…

Q: What are the key components of a promissory note that need to be considered in accounting?

A: Promissory notes are  frequently used in fiscal deals  similar as loans, mortgages, and  marketable…

Q: What are the primary stages and controls in the accounts payable transaction cycle, from receiving…

A: The accounts payable transaction cycle refers to the series of processes and activities involved in…

Q: What is concern of external users of accounting information in GAAP?

A: Accounting information includes all financial statements like Balance Sheet, Income statements and…

Q: When does an accounting information system becomes useful?  What is the relevance of having…

A: 1.When does an accounting information system becomes useful? 2. What is the relevance of having…

Q: Which function do accounting information systems provide in current accounting procedures

A: An accounting information system (AIS) constitutes of gathering, storage, and processing of…

Q: A. What document is used to create the Sales Order in the Revenue Cycle and where does itcome from?…

A: Answer a: Sales order is created by using a document formed by SAP.

Q: Where can an auditor find a client’s documentation of the accounting system?

A: Internal Control: Internal control is a mechanism or procedure that the company implements so that…

Q: If a credit is issued to a Vendor, how will this affect the General Ledger Account?

A: General ledger account: It implies to the main component or part of general ledger maintained by the…

Q: What is the primary purpose of an accounting system?

A: the primary objective of accounting is to record the financial transactions in the books of…

Q: information would include ........ .

A: External users are people outsidebusiness entity who use accounting information.external users are…

Q: Explain audit for payroll

A: Transaction in statement  of profit and loss is been audited by performing substantive analytical…

Q: Explain the accounting processing cycle.

A:

Q: Management is characterized as an internal or external user of accounting information?

A: The accounting information comprises of financial statements of the business such as income…

Q: What are the normal balances of the various sales-related accounts?

A:

Q: An introduction to what are the most effective internal control systems or techniques available for…

A: Introduction to Internal control system: The internal control system consists of procedures and…

Q: Define the term payroll register.

A:

Q: Which of the following events would be LEAST likely to be modeled in an REA diagram?a. customer…

A: Definition: REA model: The graphical representation which shows the re-engineered accounting system…

Q: What are the objective of any accounting system?

A: The accounting information system is software in which inputs are added in the form of sales or…

Q: differentiate internal user from external user of accounting information

A: Accounting is the detailed process of recording, classifying, summarising and reporting accounting…

Q: What are different types of accounting information?

A: Introduction: Accounting: Accounting is an art of recording, classifying , summarizing and…

Q: Who are the èxternal user's of accounting information

A: The accounting information is used by the external user and internal user. The External users are…

Q: Accounting information systems have five generic elements . Which of the following pairs includes…

A: Accounting information systems are tools/softwares used by entities to collect, record and Storge…

Q: How important is documentation when it comes to accounting?

A: Documentation are written record.

Q: What does an effective accounting information system provide?

A: Accounting Information Systems:

Q: TRUE OR FALSE. If assignment of receivables is made under a notification basis, the company, the…

A: Assignment of accounts receivable is a loan agreement in which the borrower assigns the lender to…

Q: W

A: According to AICPA, "accounting is an art of recording, classifying, summarizing in a significant…

Q: Answer the following questions to ponder: 1. When does an accounting information system becomes…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: What is the purpose of the general ledger in the accounting process?

A: A general tally, occasionally known as the" GL," is a central account record used in account that…