Which information system answers routine questions about business transactions?

Which information system answers routine questions about business transactions?
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transaction processing system
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Which of the following statements is an not an example of an inherent limitation of internal control? a. The effectiveness of control procedures depends on segregation of duties. b. Errors may arise from mistakes in judgments. c. Most internal controls tend to be directed at routine transactions rather than nonroutine transactions. d. The cost-benefit relationship is a primary criterion in designing internal contro

Description : Which of the following statements is an not an example of an inherent limitation of internal control? a. The effectiveness of control procedures depends on segregation of duties. b. ... nonroutine transactions. d. The cost-benefit relationship is a primary criterion in designing internal contro

Last Answer : The effectiveness of control procedures depends on segregation of duties

The type of transactions that ordinarily have a high inherent risk because they involve management judgments or assumptions are referred to as a. Estimation transactions. b. Nonroutine transactions. c. Related-party transactions. d. Routine transactions

Description : The type of transactions that ordinarily have a high inherent risk because they involve management judgments or assumptions are referred to as a. Estimation transactions. b. Nonroutine transactions. c. Related-party transactions. d. Routine transactions

Last Answer : Estimation transactions

Does it count as spam on Fluther if someone answers the questions but keeps putting their business website at the end of their answer?

Description : Does it count as spam on Fluther if someone answers the questions but keeps putting their business website at the end of their answer?

Last Answer : I guess they’d just view it as advertising…but if they’re consistently doing it, then I’d class it as spam.

(i) A system of book-keeping which records only one aspect of business transactions and ignores other aspects.

Description : (i) A system of book-keeping which records only one aspect of business transactions and ignores other aspects.

Last Answer : Write a word, term, or phrase which can substitute each of the following statements : (i ... approximate or estimated values as on a particular date.

Assuming that you have all required authorizations, which functions can you access in SAP GUI for Java? A. Functions provided by SAP business One B. Functions provided by transactions in AS ABAP based SAP system C. Functions provided by SAP NetWeaver Developer Studio D. Functions provided by AS Java SAP systems

Description : Assuming that you have all required authorizations, which functions can you access in SAP GUI for Java? A. Functions provided by SAP business One B. Functions provided by transactions in AS ... C. Functions provided by SAP NetWeaver Developer Studio D. Functions provided by AS Java SAP systems

Last Answer : B. Functions provided by transactions in AS ABAP based SAP system

The need for assurance services arises because: a. There is a potential bias in providing information. b. Economic transactions are less complex than they were a decade ago. c. There is a consonance of interests of the preparer and the user of the financial statements. d. Most users today have access to the system that generates the financial statements they use

Description : The need for assurance services arises because: a. There is a potential bias in providing information. b. Economic transactions are less complex than they were a decade ago. c. There is a consonance ... . d. Most users today have access to the system that generates the financial statements they use

Last Answer : There is a potential bias in providing information

Every business organization needs a secretary having a knowledge of recording ___________ transactions. 

Description : Every business organization needs a secretary having a knowledge of recording ___________ transactions. 

Last Answer : Every business organization needs a secretary having a knowledge of recording ___________ transactions. (a) financial (b) private (c) illegal

20) Use Accounting Equation to show the effect of the following transactions of Ram Traders.a) Started business with cash ₹ 1,00,000.b) Bought goods for cash \( ₹ 20,000 \).c) Cash sales ₹ \( 60,000 . \)

Description : 20) Use Accounting Equation to show the effect of the following transactions of Ram Traders.a) Started business with cash ₹ 1,00,000.b) Bought goods for cash \( ₹ 20,000 \).c) Cash sales ₹ \( 60,000 . \)

Last Answer : 20) Use Accounting Equation to show the effect of the following transactions of Ram Traders. a) Started ... 000 . c) Cash sales ₹ 60,000 .

The main objective of Bookkeeping is to keep permanent records of business transactions.

Description : The main objective of Bookkeeping is to keep permanent records of business transactions.

Last Answer : State whether the following statement are true or false with reason : The main objective ... is to keep permanent records of business transactions.

(i) Rules of conduct are accepted universally to record business transactions.

Description : (i) Rules of conduct are accepted universally to record business transactions.

Last Answer : Give the word term or phrase which can substitute each of the following statement : (i) ... transactions are only recorded in the books of accounts

How easy is it to keep track of financial transactions if you're in a small business?

Description : How easy is it to keep track of financial transactions if you're in a small business?

Last Answer : As a small business owner, it is easy to get overwhelmed by the sheer volume of financial information that you must track and store. The trail to every successful small business is littered with hundreds, if not thousands, or maybe even millions of transactions.

The tax levied on gross sales revenue from business transactions is called - (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax

Description : The tax levied on gross sales revenue from business transactions is called - (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax

Last Answer : (1) Turnover Tax Explanation: A turnover tax is similar to a sales tax or a VAT, with the difference that it taxes intermediate and possibly capital goods. It is charged on gross ... turnover tax is levied on all intermediate transactions between businesses leading to and including the final sale.

B) CaixaBank Explanation: As per the agreement, they will expand banks‘ guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local enterprises The banks will collaborate in areas of mutual interest such as syndicated loan business, guarantee transactions, trade finance and export credit agency finance, infrastructure finance and networking services, among others.

Description : B) CaixaBank Explanation: As per the agreement, they will expand banks guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local ... finance and export credit agency finance, infrastructure finance and networking services, among others.

Last Answer : Recently an Indian bank launched next generation features on its app „iMobile‟ which will enable customers to instantly pay taxes and book railway tickets within the app. Name the bank. A) Federal Bank B) Punjab National Bank C) Kotak Mahindra Bank D) ICICI Bank E) Bandhan Bank

The Aadhaar-Enabled Payment Systems(AEPS) is a bank led model that facilitates banking facilities by allowing transactions at Point of Sale through the Business Correspondent (BC) using the Aadhaar authentication number. Aadhaar enabled basic types of banking do not include A. Balance Enquiry B. Cash Withdrawal C. Online Payment D. Cash Deposit E. Aadhaar to Aadhaar funds transfer

Description : The Aadhaar-Enabled Payment Systems(AEPS) is a bank led model that facilitates banking facilities by allowing transactions at Point of Sale through the Business Correspondent (BC) using the Aadhaar ... . Cash Withdrawal C. Online Payment D. Cash Deposit E. Aadhaar to Aadhaar funds transfer

Last Answer : C. Online Payment Explanation: Services Offered by AEPS: Balance Enquiry Cash Withdrawal Cash Deposit Aadhaar to Aadhaar Fund Transfer Gateway Authentication Services

.Inherent risk is not a characteristic of the a. Major types of transactions. b. Client’s business. c. Substantive procedures. d. Effectiveness of the client’s accountants

Description : .Inherent risk is not a characteristic of the a. Major types of transactions. b. Client’s business. c. Substantive procedures. d. Effectiveness of the client’s accountants

Last Answer : Substantive procedures

Which of the following is least likely to be required on an audit? a. Review accounting estimates for biases. b. Test appropriateness of journal entries and adjustment. c. Make a legal determination of whether fraud has occurred. d. Evaluate the business rationale for significant unusual transactions

Description : Which of the following is least likely to be required on an audit? a. Review accounting estimates for biases. b. Test appropriateness of journal entries and adjustment. c. ... determination of whether fraud has occurred. d. Evaluate the business rationale for significant unusual transactions

Last Answer : Make a legal determination of whether fraud has occurred.

The term “noncompliance” as used in PSA 250 refers to acts of omission or commission by the entity being audited, either intentional or unintentional, which are contrary to the prevailing laws or regulations. Such acts include the following except a. Transactions entered into by the entity b. Transactions entered into in the name of the entity c. Transactions entered into by the entity on its behalf by its management or employees d. Personal misconduct (unrelated to the business activities of the entity) by the entity’s management or employees

Description : The term noncompliance as used in PSA 250 refers to acts of omission or commission by the entity being audited, either intentional or unintentional, which are contrary to the prevailing laws ... misconduct (unrelated to the business activities of the entity) by the entity's management or employees

Last Answer : Personal misconduct (unrelated to the business activities of the entity) by the entity’s management or employees

Which of the following is least likely to be required on an audit? a. Review accounting estimates for biases b. Test appropriateness of journal entries and adjustment c. Make a legal determination of whether fraud has occurred d. Evaluate the business rationale for significant, unusual transactions

Description : Which of the following is least likely to be required on an audit? a. Review accounting estimates for biases b. Test appropriateness of journal entries and adjustment c. Make a legal determination of whether fraud has occurred d. Evaluate the business rationale for significant, unusual transactions

Last Answer : Make a legal determination of whether fraud has occurred

To obtain an understanding of a continuing client’s business in planning an audit, an auditor most likely would a. Read specialized industry journals. b. Review prior year working papers and the permanent file for the client. c. Reevaluate the client’s internal control environment. d. Perform tests of details of transactions and balances

Description : To obtain an understanding of a continuing client's business in planning an audit, an auditor most likely would a. Read specialized industry journals. b. Review prior year working papers and ... the client's internal control environment. d. Perform tests of details of transactions and balances

Last Answer : Review prior year working papers and the permanent file for the client

When two companies are linked together by computers and they send business transactions through these computer, they are probably using- a. Digital wallets b. Electronic data interchange c. B2C d. Smart cards

Description : When two companies are linked together by computers and they send business transactions through these computer, they are probably using- a. Digital wallets b. Electronic data interchange c. B2C d. Smart cards

Last Answer : b. Electronic data interchange

When two companies are linked together by computers and they send business transactions through these computer, they are probably usinga. Digital wallets b. Electronic data interchange c. B2C d. Smart cards

Description : When two companies are linked together by computers and they send business transactions through these computer, they are probably usinga. Digital wallets b. Electronic data interchange c. B2C d. Smart cards

Last Answer : b. Electronic data interchange

Wholesaling is best defined as 1. all transactions in which products are bought for resale, for making other products, or for general business operations 2. all transactions made at retail outlets only 3. all transactions in which purchases are for production of other goods only 4. all marketing activities necessary to expedite exchanges to ultimate consumers 5. none of these

Description : Wholesaling is best defined as 1. all transactions in which products are bought for resale, for making other products, or for general business operations 2. all transactions made at retail ... 4. all marketing activities necessary to expedite exchanges to ultimate consumers 5. none of these

Last Answer : all transactions in which products are bought for resale, for making other products, or for general business operations

Business-to-business (B2B) e-commerce involves commercial transactions between an organization and other organizations (inter-organizational marketing). *  True  False

Description : Business-to-business (B2B) e-commerce involves commercial transactions between an organization and other organizations (inter-organizational marketing). *  True  False

Last Answer :  True

Business-to-business (B2B) e-commerce involves commercial transactions between an organization and other organizations (interorganizational marketing). A. True B. False Ans: A

Description : Business-to-business (B2B) e-commerce involves commercial transactions between an organization and other organizations (interorganizational marketing). A. True B. False Ans: A

Last Answer : A. True

Business-to business eCommerce involves commercial transactions between other organizations and organizations. A.True B.False C. May be D. May not be Answer: A

Description : Business-to business eCommerce involves commercial transactions between other organizations and organizations. A.True B.False C. May be D. May not be Answer: A

Last Answer : A.True

Which of the following steps in the accounting cycle would not generally be performed daily? a. Journalize transactions b. Post to ledger accounts c. Prepare adjusting entries d. Analyze business transactions

Description : Which of the following steps in the accounting cycle would not generally be performed daily? a. Journalize transactions b. Post to ledger accounts c. Prepare adjusting entries d. Analyze business transactions

Last Answer : c. Prepare adjusting entries

. Which one of the following is an optional step in the accounting cycle of a business enterprise? a. Analyze business transactions b. Prepare a worksheet c. Prepare a trial balance d. Post to the ledger accounts

Description : . Which one of the following is an optional step in the accounting cycle of a business enterprise? a. Analyze business transactions b. Prepare a worksheet c. Prepare a trial balance d. Post to the ledger accounts

Last Answer : b. Prepare a worksheet

Financial accounting is concerned with – a) Recording of business expenses and revenue b) Recording of costs of products and services c) Recording of day to day business transactions d) None of the above

Description : Financial accounting is concerned with – a) Recording of business expenses and revenue b) Recording of costs of products and services c) Recording of day to day business transactions d) None of the above

Last Answer : c) Recording of day to day business transactions

Which of the following statements is not correct? A. For the purpose of Funds Flow Statement, the term 'fund ' generally refers to net working capital B. Funds flow is a wider concept than the Cash flow C. The flow of funds must arise due to external and not internal transactions of the business D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds

Description : Which of the following statements is not correct? A. For the purpose of Funds Flow Statement, the term 'fund ' generally refers to net working capital B. Funds flow is a wider concept than ... business D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds

Last Answer : D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds

The basic function of management accounting is to: A. record all business transactions B. interpret the financial data C. assist the management in performing its functions effectively D. None of the above

Description : The basic function of management accounting is to: A. record all business transactions B. interpret the financial data C. assist the management in performing its functions effectively D. None of the above

Last Answer : C. assist the management in performing its functions effectively

The prime function of accounting is to: A. record economic data B. provide the informational basis for action C. classify and record business transactions D. attain non-economic goals.

Description : The prime function of accounting is to: A. record economic data B. provide the informational basis for action C. classify and record business transactions D. attain non-economic goals.

Last Answer : B. provide the informational basis for action

Retailing is BEST characterised or definedA)as transactions in which the buyer intends to consume the product through personal, family, or household use. B)by arrangements whereby a supplier grants a dealer the right to sell products in exchange for some type of consideration. C)as transactions in which the purchaser intends to use the product for resale or for general business operations. D)by exchanges that take place only in a store or service establishment.

Description : Retailing is BEST characterised or define A)as transactions in which the buyer intends to consume the product through personal,family, or household use. B)by arrangements whereby a supplier grants a ... business operations. D)by exchanges that take place only in a store or service establishment.

Last Answer : A)as transactions in which the buyer intends to consume the product through personal,family, or household use.

Wholesaling is best defined as A)all transactions in which products are bought for resale, for making other products, or for general business operations. B)all transactions made at retail outlets only. C)all transactions in which purchases are for production of other goods only. D)all marketing activities necessary to expedite exchanges to ultimate consumers.

Description : Wholesaling is best defined as A)all transactions in which products are bought for resale, for making other products, or for general business operations. B)all transactions made at retail ... of other goods only. D)all marketing activities necessary to expedite exchanges to ultimate consumers.

Last Answer : A)all transactions in which products are bought for resale, for making other products, or for general business operations

In electronic cheque payments developed, it is assumed that most of the transactions will be a. customers to customers b. customers to business c. business to business d. banks to banks

Description : In electronic cheque payments developed, it is assumed that most of the transactions will be a. customers to customers b. customers to business c. business to business d. banks to banks

Last Answer : c. business to business

The tax levied on gross sales revenue from business transactions is called (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax

Description : The tax levied on gross sales revenue from business transactions is called (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax 

Last Answer : Turnover Tax

The agency which is tasked with collecting analysing and disseminating information related to dubious financial transactions is ________ A. Financial Intelligence Unit(FIU) B. Financial Action Task Force(FATF) C. Central Economic Intelligence Bureau(CEIB) D. Central Intelligence Bureau(CIB) E. Financial Stability Board(FSB)

Description : The agency which is tasked with collecting analysing and disseminating information related to dubious financial transactions is ________ A. Financial Intelligence Unit(FIU) B. Financial Action Task Force( ... Bureau(CEIB) D. Central Intelligence Bureau(CIB) E. Financial Stability Board(FSB)

Last Answer : A. Financial Intelligence Unit(FIU) Explanation: The Financial Intelligence Unit (FIU), an agency tasked with collecting, analysing and disseminating information related to ... appropriate, disseminate valuable financial information to intelligence/enforcement agencies and regulatory authorities.

The underlying conditions that create demand by users for reliable information include the following except: a. Decisions are not time-sensitive. b. Transactions that are numerous and complex. c. Users separated from accounting records by distance and time. d. Financial decisions that are important to investors and users

Description : The underlying conditions that create demand by users for reliable information include the following except: a. Decisions are not time-sensitive. b. Transactions that are numerous and complex. c. ... records by distance and time. d. Financial decisions that are important to investors and users

Last Answer : Decisions are not time-sensitive

Which one of the following is not a reason why the users of financial statements desire for an independent assessment of the financial statement presentation? a. Complexity of transactions affecting the financial statements b. Lack of criteria on which to base information c. Remoteness of the user from the organization d. All of them are potential reasons

Description : Which one of the following is not a reason why the users of financial statements desire for an independent assessment of the financial statement presentation? a. Complexity of transactions affecting the ... c. Remoteness of the user from the organization d. All of them are potential reasons

Last Answer : Lack of criteria on which to base information

Audit programs generally include procedures to test actual transactions and resulting balances. These procedures are primarily designed to a. Detect irregularities that result in misstated financial statements. b. Test the adequacy of internal control. c. Gather corroborative evidence. d. Obtain information of informative disclosures

Description : Audit programs generally include procedures to test actual transactions and resulting balances. These procedures are primarily designed to a. Detect irregularities that result in misstated financial ... control. c. Gather corroborative evidence. d. Obtain information of informative disclosures

Last Answer : Gather corroborative evidence

A basic premise underlying analytical procedures is that a. The study of financial ratios is an acceptable alternative to the investigation of unusual fluctuations. b. Plausible relationships among data may reasonably be expected to exist and continue in the absence of known conditions to the contrary. c. These procedures cannot replace tests of details of transactions and balances. d. Statistical tests of financial information may lead to the detection of material misstatements in the financial statements.

Description : A basic premise underlying analytical procedures is that a. The study of financial ratios is an acceptable alternative to the investigation of unusual fluctuations. b. Plausible relationships ... financial information may lead to the detection of material misstatements in the financial statements.

Last Answer : Plausible relationships among data may reasonably be expected to exist and continue in the absence of known conditions to the contrary.

Which one of the following statements BEST characterises marketing research? A)research is a continuous process, providing a constant flow of information B)research is conducted on a special-project basis C)research is performed when routine information is required D)research is the basis for making recurring marketing decisions

Description : Which one of the following statements BEST characterises marketing research? A)research is a continuous process, providing a constant flow of information B)research is conducted on a special- ... when routine information is required D)research is the basis for making recurring marketing decisions

Last Answer : B)research is conducted on a special-project basis

Which of the following statements is true of a theory? a. it most simply means “explanation” b. it answers the “how” and “why” questions c. it can be a well developed explanatory system d. all of the above

Description : Which of the following statements is true of a theory? a. it most simply means “explanation” b. it answers the “how” and “why” questions c. it can be a well developed explanatory system d. all of the above

Last Answer : d. all of the above

Did you know there are really just two answers to all our "Important" questions?

Description : Did you know there are really just two answers to all our "Important" questions?

Last Answer : And that's basically why there's so little I take seriously. No offense, but have you stepped back lately and looked at how busy we are blaming everyone but ourselves for everything that's gone wrong?And how much ... . And weak. And strange. And human. And so are you. And so am I. You're welcome.

Do you often feel as though users who enter your questions feel limited to answers by the fact that you give a lurve for best answer to other users?

Description : Do you often feel as though users who enter your questions feel limited to answers by the fact that you give a lurve for best answer to other users?

Last Answer : I don’t think so, I don’t know anyone that seems to really care about lurve. Faux awards in a faux mansion is not much to spark competition…lol

What questions do you not want answers to?

Description : What questions do you not want answers to?

Last Answer : …

Have you ever looked back on your questions and answers and thought, I can’t believe I wrote that?

Description : Have you ever looked back on your questions and answers and thought, I can’t believe I wrote that?

Last Answer : Sometimes!

Do you enjoy hearing the answers when you ask children open ended questions?

Description : Do you enjoy hearing the answers when you ask children open ended questions?

Last Answer : answer:Oh yes! Children are often wiser than grownups simply because they think simple and honest. Answers can be everything from hilarious to a wake up call.

Do the first answers to ask-public questions tend to get the most "great answer" ratings?

Description : Do the first answers to ask-public questions tend to get the most "great answer" ratings?

Last Answer : It’s not something I’ve ever noticed.

When you were growing up into adulthood, where did you turn for answers to the questions that arose?

Description : When you were growing up into adulthood, where did you turn for answers to the questions that arose?

Last Answer : My parents pretty much were my compass for becoming an adult. Since the internet and pretty much computers did not yest exist….the rest I learned on the streets of Chicago.

When it comes to questions on ethics, are people honest in their answers, or do they lean more towards answering in a vague PC way so as to not appear in an unflattering way?

Description : When it comes to questions on ethics, are people honest in their answers, or do they lean more towards answering in a vague PC way so as to not appear in an unflattering way?

Last Answer : Most people would knock him off the bike and pound him. And not feel bad about it.