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116) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. RTGs ________ 2. Job costing ________ 3. Reorder point ________ 4. Economic order quantity (EOQ) ________.
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118) The following production information has been gathered from the records of the New Processes Manufacturing Company: Product:AlphaZeta Units Produced1,5007,500 Direct material cost / unit$ 10$ 22 Direct labor cost / unit1428 Direct labor hours / unit12 Production machine setup3 times3 times Engineering changes1 time2 times Additional production information is as follows: •Total setup costs (a part of total.
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21) The cost accounting application program processes the production data and production-status files. 22) Outputs of a cost accounting program are job time and machine time tickets. 23) The term applied overhead refers to the element of direct labor hours or cost used in the CIM environment. 24) Activity-based costing calculates a single.
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56) In ________ processing, a separate record is maintained in the accounts receivable system for each of the customer's unpaid invoices. 57) The mail room prepares a(n) ________ ________ that documents payments received. 58) An objective of managing accounts receivable is to reduce the ________, because in collecting accounts receivable, "time is.
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85) Among the following pair of functions, which pair represents the most serious internal control weakness when the duties are performed by the same individual? A) Purchasing and verification of vendor invoices B) Check signing and cancellation of voucher documentation C) Cash disbursement and verification of vendor invoices D) Physical handling of incoming merchandise.
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21) Accounts receivable often represents the majority of an organization's working capital. 22) Selling accounts receivable at a discount to a collection agency is part of a company's cycle billing plan. 23) The approval of sales returns and allowances is a function of the credit department. 24) After an allowance has been authorized.
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117) Melbourne Manufacturing Company is a new start-up business that has not yet opened its doors. The controller for the company is concerned about the best way to process accounts receivable. The controller expects each individual sale to be relatively large, and her goal is for all customers to pay.
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109) The following ten paragraphs describe control weaknesses in customer order and account management business processes. Listed below are ten controls that may help regulate the weaknesses: A.Separation of payroll and personnel departments B.Independent paymaster to distribute paychecks C.Imprest payroll bank account D.Vendor selected by purchasing department E.Timekeeping department reconciles time cards to job time.
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75) Hierarchy assignment includes a customer's A) distribution channel. B) geographical location. C) credit approval. D) All of these answers are correct. 76) The first screen used to create a customer in a SAP ERP system is A) control data. B) contact person. C) initial. D) account management. 77) In the SAP ERP system, the "create customer" screen, which is.
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31) Because the procurement business process generates revenue amounts that are considered to be significant accounts, disclosures, and assertions on a company's income statement, risk assessment of the procurement business process is necessary for compliance with Sarbanes-Oxley. 32) The payroll business process is a subset of procurement and therefore, falls outside.
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115) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Advanced integration technologies (AIT) ________ 2. Bill of materials ________ 3. Solids modeling ________ 4..
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75) The ERP master records that has a hierarchical structure is the A) material master record. B) vendor master record. C) object master record. D) purchasing information master record. 76) The specific component of ERP which allows a user to check goods movement and manage inventory stocks is the A) materials management module. B) inventory management module. C).
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108) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Purchase requisition ________ 2. Procurement ________ 3. Approved vendor list ________ 4. Blind count ________ 5..
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21) In a negative timekeeping system only exceptions are recorded. 22) The travel expense component of the ERP HR-PA does not support HR recruitment efforts. 23) An "infotype" is a SAP term that denotes a collection of data fields that is grouped together for display. 24) Payroll processing is one of the simplest.
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100) In a production planning system, the production status file is used as an input for which of the following groups of applications? A) Scheduling and cost accounting B) Cost accounting and planning C) Scheduling and reporting D) Reporting and cost accounting 101) In a production planning system, the production loading file is an input.
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111) Below are the documents commonly encountered in a procurement business process: a. Purchase requisition b. Purchase order c. Receiving report d. Payment voucher Required: For each document, (1) state where it originated, and (2) give the entity or entities (e.g., other departments or parties) which would most likely receive a copy of the document.
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120) World Voice is a long-distance telephone service provider that is in the process of overhauling its fixed-asset applications system. Required: Identify the individual data items that should be included in the database for each of the company's fixed assets. 121) Southwestern Pride is a company that processes and packs vegetables for.
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65) Which of the following activities is optional in the customer order business management process? A) Order entry B) Contract creation C) Shipping D) Billing 66) The customer order business management process begins when a A) customer order is entered into the system. B) customer order is shipped. C) customer invoice is generated and sent to the customer. D).
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11) Industrial robots are used to move material, parts, tools, or specialized devices through variable programmed motions for the performance of a variety of tasks. 12) CAM systems are used to collect and process data from programmable manufacturing processes to provide decision support. 13) Systems that incorporate programmable production processes that can.
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117) Presented below is a list of computer file names found in quick-response manufacturing systems, followed by definitions of the terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Completed production order file ________ 2. Master operations file ________ 3. Production.
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11) Invoice verification is responsible for the payment of invoices in ERP. 12) In ERP, every module can access every master record. 13) Goods movement can be either an internal or external event. 14) Well-designed receiving procedures should call for an independent count of materials delivered and for the preparation of the receiving.
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55) Risk ________ for payroll, procurement, and customer order management business processes is required for compliance with Sarbanes-Oxley A) control B) compliance C) assessment D) assertions 56) For compliance with SOX, assessed risk for business processes must be clearly A) tested and reported to FASB. B) documented on form Circular E and submitted to the SEC. C) tested.
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37) Once a purchase requisition is completed, it is electronically forwarded to a(n) ________ for approval. 38) ________ documents are used in the selection of a vendor. 39) The ________ ________ purchase order is issued to initiate a movement of goods between plants in a company. 40) ERP Master Material records contain so.
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1) A synonym for the word "purchasing" is "procurement." 2) The eight documents in the SAP ERP Materials Management module may be processed "on-line." 3) All eight documents in the SAP ERP Materials Management module are used each time an item is purchased. 4) Numeric document type codes are assigned to each new.
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121) Describe the following order entry procedures: a. Pricing b. Credit checking c. Availability checking 122) Goodfellows Manufacturing Company is a mature user of the SAP ERP order processing system. Goodfellows recently acquired another manufacturing company and it wants to consolidate its customer records into Goodfellows' SAP ERP system. What are two things Goodfellows.
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70) The document which gives authorization to the production department to manufacture a product is a A) production order. B) materials requisition. C) purchase order. D) sales forecast. 71) The source for the item and quantity information shown on a materials requisition is the A) bill of lading. B) bill of materials. C) inventory status report. D) factor availability.
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105) A significant difference between a cash sales business process and a cash-received-on-account business process is that A) no previous customer account balance exists in a cash sales business process. B) the float is shorter in a cash-received-on-account business process. C) more direct supervision is required in a cash-received-on-account business process. D) There is.
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11) Information requirements of a production control system might include quality control specifications. 12) A large portion of the systems analyst's job is to collect and organize facts. 13) A closed-ended questionnaire is the same as a depth interview. 14) Structured systems analysis begins with computer program code and then, through a number.
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21) The document that includes everything necessary to actually implement the design project is the detailed design proposal. 22) The use of prepackaged business process blueprints is seldom used in system design specifications or proposals. 23) It is important to design system reports that have appropriate titles and captions. 24) Regarding general systems.
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95) A timekeeping system in which all employee attendance and absence information is maintained is A) comprehensive time management. B) negative timekeeping system. C) positive timekeeping system. D) complex timekeeping system. 96) In the ERP HR modules, several infotypes for the same object can exist at the same time, but only one infotype for the.
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90) The system that uses statistical process control to determine whether a manufacturing process is within limits is A) CADD. B) CAM. C) CIM. D) MRP II. 91) Which of the following occurs when a manufacturing facility uses statistical process control? A) A plan is developed to describe the routing of each production process. B) Production processes.
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65) The type of purchase order a vendor receives when the vendor must receive and assemble parts into an end product is known as a A) third-party purchase order. B) standard purchase order. C) stock transport purchase order. D) subcontract purchase order. 66) An outline agreement detailing the total quantity of material to be ordered.
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115) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Imprest techniques ________ 2. Factoring ________ 3. Blanket order ________ 4. Customer audit ________ 5. Cycle.
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46) A well-designed customer order business management process captures ________ ________ as early as possible and reuses it in subsequent activities. 47) A contract to provide goods or services over a period of time is sometimes called a(n) ________ ________. 48) ________ is an information system that enables the implementation of sophisticated.
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124) Why is it important to design control systems in a quick-response manufacturing system before the manufacturing system is implemented? 125) Describe RFID including the benefits and drawbacks of this technology. Also compare this technology to that of bar codes. 126) What elements are involved in determining what products should be manufactured?.
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116) The following ten paragraphs describe control weaknesses in customer order and account management business processes. Listed below are 11 controls that may help control the weaknesses: A.Customer credit check B.Master price list independent from Order Entry C.Credit department approval of customer account adjustments D.Independent confirmation from internal audit to customer E.Independent confirmation from Accounts.
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95) To provide an adequate separation of functions in the accounts receivable business process, maintaining the accounts receivable control account should be the responsibility of A) billing. B) accounts receivable. C) cash receipts. D) general ledger. 96) A sales return occurs when a customer actually returns goods that have been shipped. The departments involved with.
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60) A production system in which parts are produced only as they are required in a subsequent operation is known as A) periodic production. B) green production. C) lean production. D) push production. 61) Radio-frequency identification is an automatic identification technology that uses A) high frequency radio waves to send and receive data between RFID tags.
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110) The following ten items describe positions or departments related to procurement and human resource business processes. Listed below are ten positions or departments: A.Cash disbursements B.Paymaster C.Purchasing D.Receiving E.Accounts Payable F.Payroll G.Personnel H.Timekeeping I.Internal audit J.Stores Required: Next to each number, write the letter of the answer representing the department or position described. ________ 1. Has authority to request the purchase.
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114) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Remittance list ________ 2. Credit memo ________ 3. Open-item processing ________ 4. Bill of lading ________.
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80) Control over inventory includes A) storing. B) handling. C) spoilage. D) Answer A and B are correct. 81) Inventories serve as a buffer between different operations in a A) just-in-time production system. B) materials as needed system. C) perpetual inventory system. D) Answers A and B are correct. 82) Which of the following objectives in a property accounting application.
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1) Costs in job or processing costing may be either actual or standard costs. 2) Detailed material specifications for a product are recorded on a bill-of-materials. 3) Factor availability reports communicate the availability of labor and machine resources for use in production. 4) Sales forecasts are generally unrelated to the amount of a.
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