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Study Resources (Accounting)

21.The OE/S process sends the _________________________ notification to the billing/accounts receivable/cash receipts process to notify that process of a pending shipment. . 22.If a customer refuses to accept a back order, then the sales order is terminated and is shown by a ____________________ data flow. 23.In the ER diagram for OE/S, SALES_ORDERS.
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2.Below is a narrative of the “Validate sales order” portion (i.e., bubble 1.0) of the order entry/sales process. Narrative Description How does the OE/S process then validate a customer order? First, it verifies the availability of requested inventory by consulting the inventory master data. If a sufficient level of inventory is on.
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41.Which of the following goals is not an example of a process goal of the typical order entry/sales (OE/S) process? a.to provide timely responses to customer inquiries b.to provide timely acknowledgments of customer orders c.to provide timely updates to general ledger accounts d.to provide timely shipments of goods to customers 42.In constructing a control matrix.
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3.Below is the narrative of the”Execute shipping notice” portion (i.e., bubble 3.0) of the order entry/sales process. Narrative Description This narrative describes activities that normally take place in a shipping department. The process first receives two data flows; namely, the completed picking ticket, and data retrieved from the sales order master data..
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PROBLEM 1.Below is a narrative of the “Determine Requirements” portion (bubble 1.0) of the purchasing process described in Chapter 12. Narrative Description Two data flows trigger the purchasing process. The “Inventory purchase requisition” is received from the inventory management process and the “Purchase requisitions -- supplies and services” is received from various departments..
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21.EOQ models help in making which of the following decisions? a.what particular items need reordering b.when inventory should be reordered c.how much inventory should be reordered d.all of the above 22.Which of the following techniques determines how much inventory to reorder based on an analysis that optimizes inventory ordering and carrying costs? a.cyclical reordering b.reorder point analysis c.EOQ.
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7.The following is a list of 10 control plans: A. Independent billing authorization F. Immediately endorse incoming checks B. Review shipped not billed sales orders (tickler file) G. Document design C. One-for-one checking of deposit slip and checks and invoice H. Prenumbered documents D. Compare input shipping notice to sales order master data I. Turnaround documents E. Agreement of run-to-run totals J. Immediately separate checks and remittance advices   Required: Listed below are.
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31.Input devices that capture printed images or documents and convert them into electronic digital signals that can be stored in computer media are called ____________________. 32.When a customer service representative enters data into the OE/S system, the first screen prompt is usually for the ___________________________________. 33.A(n) ____________________ file is one that is.
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6.The following is a list of 10 control plans. Control Plans A. Enter data close to where customer order is received B. Online prompting C. Independent shipping authorization D. Programmed edit checks E. Preformatted screens F. Credit check G. One-for-one checking of goods, picking ticket, sales order H. Populate inputs with master data I. Review open sales orders (tickler file) J. Turnaround document (picking ticket with bar codes) Required: Listed below are.
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21.The grouping of customers into categories based on key characteristics is called a.customer relationship management b.segmentation c.XML d.web services 22.A data flow or event that causes a process to begin is called a: a.tickler b.trigger c.document d.validity check 23.A process for out-of-the-ordinary or erroneous events is called: a.exception routine b.summary report c.corrective routine d.normal routine 24.An example of a "rejection procedure" is a(n): a.back order process b.inventory.
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PROBLEM 1.The Figure below shows a portion of the horizontal perspective of an OE/S process. The following functional titles (for the OE/S process organizational structures and the entities with which the OE/S process interacts) and information flows, depicted as documents, generated or captured by the OE/S process, have been omitted. Functional titles.
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11.A purchasing statement is a business document designed to inform the payee of the invoices or other items being paid. 12.The accounts receivable master file is a repository of all unpaid invoices issued by an organization and awaiting final disposition. 13.The sales event data file would comprise one or more invoice (i.e.,.
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11.With companies facing global competition, firms are recognizing that their most important asset is? a.inventory b.machinery and equipment c.cash d.a happy customer 12.The OE/S process addresses the decision needs of managers of various sales and marketing functions through the use of: a.vertical information flows b.horizontal information flows c.both vertical and horizontal information flows d.neither vertical nor horizontal information flows 13.When.
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11.In a billing/accounts receivable/cash receipts process, which of the following data stores is least likely to interact with a process called "perform billing"? a.vendor master data b.customer master data c.accounts receivable master data d.sales event data 12.In a logical DFD for a billing/accounts receivable/cash receipts process, which of the following data stores would you expect.
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31.The accounts receivable master data is created as sales returns, bad debt write-offs, estimated doubtful accounts, or similar adjustments are processed. 32.A lockbox is a banking service in which the bank keys the remittance advice details into its computer system from the customer's remittance advices and then transfers the remittance advice.
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TRUE/FALSE 1.As used in the purchasing process chapter, the term “goods and services” refers to raw materials, merchandise, supplies, fixed assets, or intangible assets. 2.The purchasing manager usually performs major buying activities as well as performing the administrative duties of running a department. 3.The purchasing supervisor is responsible for receiving incoming goods, signing.
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4.The entity-relationship (E-R) diagram below represents an order entry/sales process, but with the names of certain entities, characteristics of relationships, and relationship cardinalities removed from the diagram. The names omitted are: Entities Characteristics of the Relationships ? CUSTOMER ? activate ? INVENTORY ? billed_to ? SHIPMENTS ? generate ? SALES_RELATIONS ? trigger Required:   Complete the figure below by: a. Inserting the names from the above lists into the rectangles (entities) or diamonds.
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21.Inventory personnel use the vendor master data to select an appropriate vendor. 22.A carbon copy of a multipart paper document is one in which selected data are blanked out so that persons receiving that copy will not have access to the data. 23.The business document that accompanies the purchased inventory from the.
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PROBLEM 1.Below is the narrative of the “Perform billing” portion (i.e., bubble 1.0) of the billing/accounts receivable/cash receipts process. Narrative Description When the OE/S process produces a sales order, it notifies the B/AR/CR process to that effect (i.e., a flow “Sales order notification”).  When triggered by the data flow “Shipping’s billing notification,” the.
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6.The E-R diagram below represents a B/AR/CR process but with the names of certain entities, and relationship cardinalities removed from the diagram. In alphabetic order, the names omitted are: ?   BANKS ?   CASH_RECEIPTS ?   CUSTOMERS ?   DEPOSITS ?   INVENTORY ?   SALES_INVOICES ?   SALES_ORDERS ?   SHIPMENTS Required: Complete The E-R Diagram by: a. Inserting the names from the above lists into the boxes.
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11.______________________________ systems use the Internet to automate and manage corporate vendors and purchases. 12._________________________ systems are designed to allow a company to market, sell, deliver, and service goods and services to customers throughout the world via the Internet. 13.The buzzword in CRM which means the grouping of customers into categories based on.
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41.Issues related to the purchasing function, such as kickbacks, bribes, conflicts of interest, and the like are often addressed by ____. a.job descriptions b.corporate codes of conduct c.computer security modules d.vendor master files 42.Which of the following items is not a control plan of the purchasing process? a.Minimize inventory carrying costs. b.Written approvals c.Compare vendors for prices, terms,.
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5.Below is a systems flowchart for the billing process with letters indicating omitted descriptions. Fill in the omitted descriptions in the flowchart by matching the numbers from the list below with the letters on the flowchart.   Missing descriptions: 1. "Billing completed," changes to AR and related balances 2. "Shipments not yet billed" 3. BT 4. Compare batch totals with changes.
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COMPLETION 1.The B/AR/CR process completes the order to cash process by accomplishing the activities of billing customers, managing customer accounts, and ____________________________________________. 2.Recording billing/accounts receivable/cash receipts event data is generally the responsibility of the accounts receivable department, which typically reports to the ____________________ function. 3.In the organization structure shown in the text, although.
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21.The acronym ACH stands for automated clearing house. 22.A credit card system is better at reducing float time than a debit card system. 23.In an open-item system, accounts receivable records consist of a customer's current balance due, past-due balance, and the finance charges and payments related to the account. 24.The B/AR/CR system supports.
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21.The electronic purchase order is the basis for a formal contract between the buyer and the seller; therefore, it should bear a(n) ______________________________. 22.Purchasing personnel use the ______________________________ data to select an appropriate vendor. 23.A(n) ____________________ copy of a multipart paper document is one in which selected data are blanked out so.
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41.The accounts receivable system in which all the accounts receivable master data contains individual open invoices, against which payments and other adjustments are applied: a.pre-billing system b.open-item system c.balance-forward system d.post-billing system 42.The accounts receivable system typically used by utilities is the: a.pre-billing system b.open-item system c.balance-forward system d.post-billing system 43.Quantities of items shipped to a customer would typically be.
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COMPLETION 1.The order entry/sales (OE/S) process includes the first four steps in the ______________________________ process. 2.The first step in the order-to-cash process is ___________________________________. 3.____________________ expect convenient and timely access to information about their order from order initiation to product delivery. 4.The OE/S process helps support the decision needs of the ____________________ department. 5.One of.
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3.Below is the narrative for the “Receive payment” portion (i.e., bubble 3.0) of the billing/accounts receivable/cash receipts process. Narrative Description Upon receipt of the check and remittance advice (RA) from a customer, the first sub-process validates the remittance by comparing the check to the RA. Mismatches are rejected for later processing. If.
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4.The figure below is the control matrix for the billing process presented in Chapter 11, but with certain items omitted. In the matrix, each omission is indicated by a box. Jumbled lists of the omitted items are as follows:          Omitted from Control Goals Columns 1. Accounts receivable master data 2. Ensure efficient employment of.
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21.The acronym EFT stands for ________________________________________. 22.A(n) ____________________ card system has the advantage of eliminating float. 23.The ___________________________________ supports the repetitive work routines of the credit department, the cashier, and the accounts receivable department. 24.In a(n) ___________________________________, accounts receivable records consist of a customer's current balance due, past-due balance, current account activity including.
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31.Digital images a.help reduce paper in the B/AR/CR system b.may be scans of checks c.may be scans of remittance advices d.all of the above 32.Which of the following statements is false? a.The typical billing/accounts receivable/cash receipts system assists in preparing internal and external reports, including GAAP-based financial statements. b.Separating the credit function from the sales function is.
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31.Often times a stub is attached to the customer statement.  This stub is also known as a ____________________ document. 32.A(n) ____________________ is a banking service in which the bank keys the remittance advice details into its computer system from the customer's remittance advice and then transfers the remittance advice data electronically.
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4.The figure below is the control matrix for the purchasing process presented in Chapter 12, but with certain items omitted. In the matrix, each omission is indicated by a square. Jumbled lists of the omitted items are as follows: Omitted from Control Goals Columns 1. Inventory purchase order, and vendor master data 2. Ensure security.
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31.A document that is used when filling a sales order to authorize the movement of goods from a warehouse to shipping is called a: a.shipping order b.packing slip c.picking ticket d.blind authorization 32.In an order entry/sales (OE/S) process, you could expect that a sales order notification would be sent to a.the billing/accounts receivable/cash receipts process b.the customer c.the.
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5.The following systems flowchart depicts a portion of the OE/S Process: Required: Based on the flowchart above a. Complete the flowchart by matching the 8 blank items, which are indicated by the letters A through H with the 8 items listed below: 1. Bill of Lading 2. Compare order number and quantities 3. Completed picking ticket (with.
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51.Which control is most effective in contributing to the goal of ensure input accuracy in the billing function? a.compare input shipping notices to sales order master data b.batch sequence checks c.confirm input acceptance d.review shipped not billed sales orders (tickler file) 52.Which control plan for the cash receipts function has as its primary control goal.
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21.In a pre-billing system, invoices are prepared a.immediately upon acceptance of a customer order b.when there is to be a delay between the time that the order is accepted and the time it is shipped c.where inventory balances can be determined only through physical count d.to improve customer relations 22.In a fraud scheme known as.
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3.Below is a narrative describing the “Receive goods and services” portion (bubble 3.0) of the purchasing process described in Chapter 12. Narrative Description The vendor packing slip accompanies the purchased inventory from the vendor, identifies the shipment and triggers the receiving process (bubble 3.1). Goods arriving at the receiving department are inspected.
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MULTIPLE CHOICE 1.As discussed in the text, the functions of the billing/accounts receivable/cash receipts process: a.is identical to those of the order entry/sales process b.supports the problem-solving processes of marketing managers c.collects amounts due from customers d.is unrelated to the functions of the order entry/sales process 2.According to the concept of segregation of duties, which of.
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COMPLETION 1.As used in the purchasing process chapter, the term ____________________ refers to raw materials, merchandise, supplies, fixed assets, or intangible assets. 2.The ____________________ manager usually performs major buying activities as well as performing the administrative duties of running a department. 3.The ____________________ supervisor is responsible for receiving incoming goods, signing the bill.
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11.With ______________________________ a vendor obtains a buyer’s current sales, demand, and inventory data in real time and replenishes the buyer’s inventory. 12.____________________________________________________________ features collaborative processes across the supply chain using a set of processes and technology models including creating joint business plans, sales forecasting, order planning and forecasting, order generation, and.
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11.In a purchasing process, once requirements are determined and a vendor selected, the next step is: a.the purchase requisition b.the purchase order c.receive goods and services d.a vendor acknowledgment 12.The purchasing process--receive goods and services--normally would be triggered by the data flow: a.purchase order b.vendor acknowledgment c.vendor packing slip d.purchase requisition 13.At the time that a purchasing process performs the.
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MULTIPLE CHOICE 1.The purchasing process is part of the ____ process for a merchandising firm. a.order-to-cash b.purchase-to-pay c.conversion d.general ledger/financial reporting 2.The typical purchasing process would capture and record data related to the day-to-day operations of all of the following except: a.shipping b.buyers c.receiving d.purchasing 3.As used in the text, the term services specifically refers to: a.items having a physical existence and.
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11.Notifications that a PO has been prepared and sent to the vendor are sent to the receiving department, the accounts receivable process, and the department or process that requested the purchase. 12.Collaborative Planning, Forecasting, and Replenishment (CPFR) features collaborative processes across the supply chain using a set of processes and technology.
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TRUE/FALSE 1.The B/AR/CR process completes the order to cash process by accomplishing the activities of billing customers, managing customer accounts, and securing payment for goods and services. 2.Recording billing/accounts receivable/cash receipts event data is generally the responsibility of the treasury department, which typically reports to the controller function. 3.In the organization structure shown.
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11.A(n) ______________________________ is a business document designed to inform the payee of the invoices or other items being paid. 12.The ________________________________________ data is a repository of all unpaid invoices issued by an organization and awaiting final disposition. 13.The  ____________________ event data would comprise one or more invoice (i.e., sales) records. 14.Rejected sales requests.
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31.A "blind" copy of the purchase order should be sent to receiving so that: a.receiving can anticipate the receipt of the goods from the vendor b.receiving clerks will know the value of what is on order c.partial shipments can be monitored d.receiving clerks will be forced to actually count the goods that are received 32.The.
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31.A(n) ____________________ system would eliminate documents and forms as the medium for conducting business transactions. 32.The _________________________ is the primary key for the relational table for inventory. 33.The _________________________ is the primary key for relational table for vendors. 34.________________________________________ is a chip with an antenna that can send and receive data from a.
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41.Management should exercise the control plan ________________________________________ to ensure that a purchase is within an applicable budget and that the purchase is desirable. 42.In preparing a PO, buyers should ___________________________________ to ensure that a purchase is being made to suitable and viable vendor. 43.The control plan __________________________________________________ assumes that there is a.
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