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Match the Following Definitions with the Appropriate Term

Question 178

Matching

Match the following definitions with the appropriate term

Premises:

Responses:

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

Cash receipts journal

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

Compatibility principle

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

Cost-benefit principle

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

Purchases journal

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

Sales journal

A journal used to record sales of merchandise on credit.

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.

Special journal

A journal used to record all purchases on credit

Controlling account

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

Schedule of accounts receivable

Premises:

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

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

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

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

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

A journal used to record sales of merchandise on credit.

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 all purchases on credit

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

Responses:

Cash receipts journal

Compatibility principle

Cost-benefit principle

Purchases journal

Sales journal

Segment margin

Information storage

Special journal

Controlling account

Schedule of accounts receivable

Correct Answer:

Premises:

Responses:

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

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

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

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

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

A journal used to record sales of merchandise on credit.

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 all purchases on credit

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