MISY 5340 Chapter 3, MISY 5340
Chapter 6 Exam Questions and
Answers 100% PASS
_____________ is concered with reording the financial impacts of buisness
processes as they are executed.
A. Management Accounting
B. Finanical Accounting (FI)
C. Controlling (CO)
D. Bank ledger accounting
E. None of the above - CORRECT ANSWER-B. Financial Accounting
Which of the following is a key process in financial accounting?
A. Sales order processing
B. Accounts receivable accounting
C. Credit management
D. Income verification
,E. All of the above - CORRECT ANSWER-B. Accounts recievable accounting
Which process is used to manage money owed by customers for goods and
services purchased from the company?
A. general ledger accounting
B. Accounts receivable accounting
C. Fixed asset accounting
D. bank Ledger Accounting
E. All of the Above - CORRECT ANSWER-B. accounts receivable accounting
Which Process is concerned with recording data associated with bank statements?
A. Bank ledger accounting
B. Fixed asset accounting
C. General ledger accounting
D. Accounts receivable accounting
E. None of the above - CORRECT ANSWER-A. Bank ledger accounting
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,_______________ are internal divisions of an enterprise that are used to define
areas of responsibility or to meet the external reporting requirements of an
enterprise segment.
A. Cost centers
B. Depreciation areas
C. Business areas
D. Sub-ledgers
E. None of the Above - CORRECT ANSWER-C. Buisness areas
Which term refers to an ordered listing of accounts that comprise a company's
general ledger?
A. General ledger
B. Balance sheet
C. Bank Ledger
D. Chart of Accounts
E. None of the above - CORRECT ANSWER-D. Chart of accounts
Which term represents what a company owns, such as cash, inventory of materials,
and buildings?
A. Liabiblities
, B. Equity
C. Assets
D. Revenues
E. None of the above - CORRECT ANSWER-C. Assets
Which term represents what a company owes to others, including money owed to
vendors and loans from financial institutions?
A. Liabilities
B. Equity
C. Assets
D. Revenues
E. None of the above - CORRECT ANSWER-A. Liabilities
Which term represents the monies a company earns by selling its products and
services?
A. Liabilities
B. Assets
C. Expenses
D. Revenues
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
Chapter 6 Exam Questions and
Answers 100% PASS
_____________ is concered with reording the financial impacts of buisness
processes as they are executed.
A. Management Accounting
B. Finanical Accounting (FI)
C. Controlling (CO)
D. Bank ledger accounting
E. None of the above - CORRECT ANSWER-B. Financial Accounting
Which of the following is a key process in financial accounting?
A. Sales order processing
B. Accounts receivable accounting
C. Credit management
D. Income verification
,E. All of the above - CORRECT ANSWER-B. Accounts recievable accounting
Which process is used to manage money owed by customers for goods and
services purchased from the company?
A. general ledger accounting
B. Accounts receivable accounting
C. Fixed asset accounting
D. bank Ledger Accounting
E. All of the Above - CORRECT ANSWER-B. accounts receivable accounting
Which Process is concerned with recording data associated with bank statements?
A. Bank ledger accounting
B. Fixed asset accounting
C. General ledger accounting
D. Accounts receivable accounting
E. None of the above - CORRECT ANSWER-A. Bank ledger accounting
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
,_______________ are internal divisions of an enterprise that are used to define
areas of responsibility or to meet the external reporting requirements of an
enterprise segment.
A. Cost centers
B. Depreciation areas
C. Business areas
D. Sub-ledgers
E. None of the Above - CORRECT ANSWER-C. Buisness areas
Which term refers to an ordered listing of accounts that comprise a company's
general ledger?
A. General ledger
B. Balance sheet
C. Bank Ledger
D. Chart of Accounts
E. None of the above - CORRECT ANSWER-D. Chart of accounts
Which term represents what a company owns, such as cash, inventory of materials,
and buildings?
A. Liabiblities
, B. Equity
C. Assets
D. Revenues
E. None of the above - CORRECT ANSWER-C. Assets
Which term represents what a company owes to others, including money owed to
vendors and loans from financial institutions?
A. Liabilities
B. Equity
C. Assets
D. Revenues
E. None of the above - CORRECT ANSWER-A. Liabilities
Which term represents the monies a company earns by selling its products and
services?
A. Liabilities
B. Assets
C. Expenses
D. Revenues
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
