1. The basic principles in developing an accounting information system are cost effectiveness, useful output, and flexibility True False 2. Flexibility (the ability to accommodate a variety of users and changing information needs) is not important in designing and developing an efficient and effective accounting information system True False 3. The sales journal is used to record all sales of merchandise. True False An advantage of using subsidiary ledgers is that they show transactions affecting one customer or one creditor in a single account, providing up-to- date information on specific account balances. True False 5. In posting a multi-column journal, the total of the Other Accounts column is not posted True False 6. Each entry in the single-column purchases journal results in a debit to Merchandise Inventory and a credit to Accounts Payable. True False 7. Only transactions that cannot be entered in a special journal are recorded in the general journal. True False 8. Companies record all receipts of cash in the cash receipts journal. True False 9. The purchases journal is used to record all purchases of merchandise. True False SEN 10. When control and subsidiary accounts are involved, there must be a dual posting: once to the control account and once to the subsidiary account. True False