Which Of The Following Is A Benefit Of Using A Computerized Perpetual Inventory System?

There are several advantages of using a perpetual inventory system. Single update for changes in datad. A perpetual inventory system is a set of accounting processes that helps a company report financial inventory data. There are several advantages of using a perpetual inventory system. Greater time management. Open access to all data by all usersc. Better tracking of any activities affecting inventory.

A perpetual inventory system is a set of accounting processes that helps a company report financial inventory data.

2 fSECTION A COMPULSORY Attempt all ten 10 multiple choice questions. A inventory system that updates inventory once at the end of a specific period of time. Greater time management. Debit Cost of Goods Sold and credit Purchases. Computerized perpetual inventory systems are helpful when recording many inventory transactions. Make no additional entry until.

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Which of the following is a benefit of using a computerized perpetual inventory system?. Sufficient competent evidence of controls exists if. Computerized inventory systems are helpful when recording many inventory transactions. The use of a computer changes the processing storage and communication of financial information and may affect the accounting and internal control systems employed the entity.

Advantages of a database system include all of the following excepta. Confidence that all data is currentANS. A perpetual inventory system is superior to the older periodic inventory system because it allows for immediate tracking of sales and inventory levels for individual items which helps to prevent.

The software has an inventory module with bar-code capability to handle and process all MRO-parts tracking functions. There are several advantages of using a perpetual inventory system. Greater time management.

Greater inventory control. Debit Merchandise Inventory and credit Cost of Goods Sold. Debit Cost of Goods Sold and credit Purchases.

Test data results are compared to predetermined expectations. QUESTION ONE 11 The main aim of accounting is to. Graph paper if required is provided at the end of the answer booklet.

For example a properly designed and used shipping document can be the basis for releasing goods from storage to the shipping department informing billing of the quantity of goods to bill to the customer and the appropriate billing date and updating the perpetual inventory records. Journal entries in a perpetual inventory system. Debit Cost of Goods Sold and credit Merchandise Inventory.

An effective computerized maintenance management system CMMS. Computerized inventory systems help managers track inventory Sales patterns can be analyzed easily when using computerized.

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Using test data an auditor has processed both normal and atypical transactions through a computerized payroll system to test calculation of regular and overtime hours.

Provide financial information to users of such information. Which of the following is a benefit of using a computerized accounting information system. Graph paper if required is provided at the end of the answer booklet. Question 16 Under the perpetual inventory system in addition to making the entry to record the sale the seller would Answer s. Debit Cost of Goods Sold and credit Purchases. A CIS environment changes the overall objective and scope of an audit. Sufficient competent evidence of controls exists if. For example a properly designed and used shipping document can be the basis for releasing goods from storage to the shipping department informing billing of the quantity of goods to bill to the customer and the appropriate billing date and updating the perpetual inventory records. Test data results are compared to predetermined expectations.

Better tracking of any activities affecting inventory. QUESTION ONE 11 The main aim of accounting is to. Open access to all data by all usersc. Traditionally the perpetual inventory system was used by companies that buy and sell easily identifiable inventories such as jewelry clothing and appliances etc. The department needs to populate the. 2 fSECTION A COMPULSORY Attempt all ten 10 multiple choice questions. For example a properly designed and used shipping document can be the basis for releasing goods from storage to the shipping department informing billing of the quantity of goods to bill to the customer and the appropriate billing date and updating the perpetual inventory records.