Which of the Following Defines a Reference File in a Computerized

question 36

Multiple Choice

Which of the following defines a reference file in a computerized system?

• A) A file that stores data used repeatedly for processing transactions (e.g., payroll tax table)
• B) A file that stores data on pending items such as sales orders
• C) A file that stores detailed information about general ledger control accounts
• D) A file that stores daily transaction data such as sales transactions

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Definitions:

Voucher System

A control mechanism in accounting that uses vouchers to record transactions and control disbursements.

Periodic System

Another term for the periodic inventory method, emphasizing its cyclical approach to inventory management and cost determination.

Voucher System

A control mechanism in accounting where vouchers are used to authorize the disbursement of cash and record financial transactions.

Net Method

A method of recording purchases or invoices at their net price after deducting any purchase discounts.