Question

Question 1

Which items in the following list are required for the preparation of a proper bank reconciliation

I. Bank Statement

II. Cash Receipts Journal

III. Sales Journal

IV. General Ledger

V. Prior months bank reconciliation

VI. Cash Disbursements Journal

VII. Account Payable trial balance

A. I, II, III, V, VI

B. I, II, III, IV, V, VI

C. I, II, IV, V, VI, VII

D. I, II, V, VI

E. I, II, IV, V, VI

Question 2

One objective of ERP software is to

A. Provide business and people processes education to enterprise employee

B. Eliminate the use of people to enter data into the system

C. Store information one time in a disaggregated format from which it can be retrieved by many different users for use in many different types of decision

D. Disconnect information flows between the enterprise and it's business partners to reduce the possibility of system contamination by viruses or worms

E. Minimise the amount of data available to executives to avoid the problem of managers suffering from an overabundance of irrelevant information

Question 3

Consider the following items

A Red Volkswagon Beetle belonging to Cheryl VanBuren

A Red Corvette belonging to Walter Cherrington

A blue Z71 pickup truck belonging to Amy Patrick

A green Volkswagon Beetle belonging to Amy Patrick

A red Corvette belonging to Chris Wolverine

To represent these items in a conceptual model at the type level, which symbol is most appropriate

A. Car

B. Vehicle

C. Name

D. Color

Answer 1

Solution:

1. (D) is correct.because we need all the documents which includes banking transactions as we need to prepare bank reconciliation. Apart from items mentioned in (D) do not represents banking transactions.

2. (C) is correct

3. (B) is correct