Signin/Signup
Signin/Signup
Info
Warning
Danger

Accounting Answers, Flashcards, Essays and Textbook Solutions

The hard task of handling college homework is one of the most common challenges in the path of student success. No student ever says, "Hey I love homework! Give me more!" (However nerdy they are) Yet, it is an unavoidable part of your college experience.

Ask an Expert

Our Experts can answer your tough homework and study questions.

Answers in as fast as 15 minutes
Post a Question
PROBLEM 1.The figure below shows a portion of the horizontal perspective of an accounts payable/cash disbursements (AP/CD) process. The following functional titles (for the AP/CD process organizational structures and the entities with which the AP/CD process interacts) and information flows, depicted as documents, generated or captured by the AP/CD process, have.
8 Views
View Answer
11.In the level 0 DFD for an accounts payable/cash disbursements process, a data flow called "receiving report" most likely would be sent by the purchasing process to which of the following processes? a.order inventory b.receive goods and services c.establish payable d.make payment 12.Data flows of an accounts payable/cash disbursements process normally might include all of.
10 Views
View Answer
31.The control plan tickler file of payments due, is directed primarily at which of the following control goals? a.Select a vendor who will provide the best quality at the lowest price by the promised delivery date. b.Input validity. c.Input accuracy. d.Input completeness. 32.A control plan that helps ensure the security of resources within the AP/CD.
9 Views
View Answer
11.The computer technology application that automates the product design process, including but not limited to the functions of geometric modeling, materials stress and strain analysis, drafting, storing product specifications, and mechanical simulation of a product's performance, is called ____________________________________________________________. 12.The ________________________________________ is a set of specific production goals developed from forecasts.
10 Views
View Answer
21.Which of the following is a statement of specific production goals developed from demand forecasts? a.a master production schedule (MPS) b.materials requirements planning (MRP) c.shop floor control (SFC) d.just-in-time (JIT) manufacturing 22.The objectives of just-in-time (JIT) manufacturing usually include all of the following except: a.large lot sizes b.zero defects c.zero setup times d.zero lead times 23.The implementation features of just-in-time.
8 Views
View Answer
PROBLEM 1.In Figure 15.1 Bubble 1.0, consistent with the value chain concept, the IPP begins with the design of the product and production processes. Activity based costing can be used to develop estimates of the future cost of producing new products as well as potential cost changes from product or design.
10 Views
View Answer
11.A supply chain is a sequence of activities performed by an organization that add value or utility to the product produced or service rendered. 12.The computer technology application that automates the product design process, including but not limited to the functions of geometric modeling, materials stress and strain analysis, drafting, storing.
11 Views
View Answer
41.Which of the following has the inputs of attendance and work on specific jobs? a.electronic time management b.payroll direct deposit system c.payroll service bureau d.none of the above 42.According to the flowchart of the payroll process, the payroll register is on a display in the column for a.electronic time management system b.computer c.accounts payable department d.cashier 43.According to the flowchart.
9 Views
View Answer
11.Which of the following statements is false? a.With the pull approach to manufacturing, factory machinery typically is arranged in factory cells. b.The pull approach to manufacturing should lead to reduced work in process and finished goods inventories. c.The pull approach to manufacturing should lead to shorter production runs. d.Enterprise resource planning (ERP) employs a.
11 Views
View Answer
COMPLETION 1.A(n) ______________________________ is the source document used in the payroll system to determine the hours for which an employee should be paid. 2._________________________ reflect the start and stop times on specific jobs to allow the distribution of payroll costs to jobs in process (or to other accounts). 3.___________________________________ show the time periods.
7 Views
View Answer
21.In the ER diagram for AP/CD process, PURCHASE_REQUISITIONS generate ___________________________________. 22.In the ER diagram of the AP/CD process, VALID_INVOICES are received from the ____________________. 23.In a relational table for PURCHASE_RECEIPTS, the primary key would be the ___________________________________. 24.In a relational table for VALID_INVOICES, the primary key would be the ______________________________. 25.Fraud abuses in the.
7 Views
View Answer
11.A journal voucher is an internal source document used to notify the general ledger to make an accounting entry. 12.The general ledger master data contains summarized information of all company event data. 13.An audit trail provides the linkages necessary to trace financial transactions forward through the general ledger/financial reporting (GL/BR) process. 14.Balanced scorecard.
9 Views
View Answer
11.A(n) ______________________________ is an internal source document used to notify the general ledger to make an accounting entry. 12.The ___________________________________ data contains summarized information of all company event data. 13.A(n) _________________________ provides the linkages necessary to trace financial transactions backward or forward through the general ledger/financial reporting (GL/BR) process. 14.Consider the GL account.
14 Views
View Answer
5.The following is a list of 12 control plans. Control Plans A. Populate input screens with master data G. Approve purchase orders B. Programmed edit checks H. Confirm purchase order to requesting department C. Approve purchase requisitions I. Digital signatures D. Requisition audit data J. Enter receipt data in receiving department E. Authorized vendor data K. Independent authorization to record receipt F. Compare vendors for prices, terms, quality, and product availability L. Create audit trail.
8 Views
View Answer
11.Which of the following is false regarding the payroll management process? a.it supports the repetitive work routines of the payroll process b.was traditionally considered part of the HR management process c.maintains data for payroll taxes and fringe benefits d.none of the above 12.The HR module in most ERP systems includes all of the following except: a.personnel.
5 Views
View Answer
21.___________________________________ is an automated decision support system that generates manufacturing operations instructions and routings based on information about machining requirements and machine capabilities. 22.A(n) _____________________________________________ is one type of automated materials handling system that typically is a computer-based cart system capable of delivering parts and tools among multiple work centers. 23.The _____________________________________________.
9 Views
View Answer
21.Which disbursement system most easily facilitates paying a number of invoices with a single check? a.nonvoucher system b.voucher system c.balance-forward system d.open-items system 22.Which of the following activities would not occur when an inventory manager decides to return merchandise to a vendor? a.the accounts payable department is notified b.a credit memorandum is issued to the vendor c.the warehouse.
10 Views
View Answer
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.
9 Views
View Answer
PROBLEM 1.Figure TB-14.1 is a level 0 DFD of a payroll process, but several labels have been omitted from the figure (indicated by small boxes in the figure). Listed below is a numbered, alphabetical list of the omitted items. Omitted Labels 1. Accrue employer taxes 2. Attendance time records 3. Distribute labor costs 4. Employee/payroll master data 5. General ledger process 6. GL employer.
9 Views
View Answer
21.In a relational table for VALID_INVOICES, the primary key would be the vendor number. 22.In the flowchart for the AP/DC process the symbol below represents the enterprise database. 23.Fraud abuses in the AP/CD process usually entail creating phony customers or submitting fictitious invoices 24.The often missing control plan of cash planning report includes.
11 Views
View Answer
11.Systems that allow employees to access personal as well as business related information and functions are known as ______________________________. 12.According to the HRM flowchart, the employee/payroll data is stored in the ____________________ database. 13.The ______________________________ data maintains data concerning an organization’s short term and long term staffing requirements. 14.The _________________________ data catalogs each.
9 Views
View Answer
21.The data flow between “prepare paychecks” and “prepare disbursement voucher” is the ______________________________. 22.The _________________________ data is the central repository of data about people who work for the organization. 23.The employee wage and tax statement is known as a ____________________. 24.Annuities, pensions, and retirement pay are reported on Form ____________________. 25.Wages taxable under FICA.
8 Views
View Answer
3.Below is a narrative for the “Make payment” portion (bubble 2.0) of the accounts payable/cash disbursements process described in Chapter 13. Narrative Description The payment process begins with the preparation of a list of payments that might be made at this time (bubble 2.1). The selection of items for this list is.
9 Views
View Answer
5.The flowchart below is the accounts payable/cash disbursements process presented in Chapter 13, but with certain items omitted. In the flowchart, each omission is indicated by a capital letter (A through I). Jumbled lists of the omitted items are as follows: 1. Compare incoming invoices to PO and receiving report data and.
12 Views
View Answer
COMPLETION 1.____________________ systems facilitate integration of all aspects of product design, marketing, and manufacturing. 2.________________________________________ systems are add-ons or additional ERP modules that organize data by product, including design, manufacturing specifications, quality, and warranty performance. 3._________________________ is the time it takes from when authorization is made for goods to be produced to when.
8 Views
View Answer
11.The manager of safety, health and human services has key functions that include plans and forecasts of an organization’s short term and long term HR needs. 12.Systems that allow employees to access personal as well as business related information and functions are known as self service systems. 13.As shown in the “computer”.
12 Views
View Answer
3.Assume that you are working with a payroll application that produces weekly paychecks, including paystubs. Listed below are 20 data elements that appear on the paycheck/paystub.     Data Elements       Number   Description 1. Employee identification number 2. Social security number 3. Employee name 4. Employee address 5. Regular hours worked 6. Overtime hours worked 7. Pay rate classification 8. Hourly pay rate 9. Regular earnings 10. Overtime earnings 11. Total earnings 12. Deduction for federal income tax 13. Deduction for state.
14 Views
View Answer
21.Which of the following is least likely to be part of the relevant environment of the general ledger/business reporting (GL/BR) process? a.the order entry/sales process b.the billing/accounts receivable/cash receipts process c.the purchasing/accounts payable/cash disbursements process d.the inventory process 22.Inputs to a general ledger/business reporting (GL/BR) process typically include all of the following except: a.adjusting entry journal.
10 Views
View Answer
TRUE/FALSE 1.A job time record is the source document used in the payroll system to determine the hours for which an employee should be paid. 2.Attendance time records reflect the start and stop times on specific jobs to allow the distribution of payroll costs to jobs in process (or to other accounts). 3.Attendance.
18 Views
View Answer
21.According to the flowchart for the HR management process, the update of employee/payroll master data and preparing documents, screens and reports is in the column for: a.various departments b.employees c.computer d.HR department 22.According to the flowchart for the HR management process, needs requests, supervisor review, employee termination, and employee requests are approved in the column.
8 Views
View Answer
21.Computer aided manufacturing is the application of computer and communications technology to improve productivity by linking computer numerical control (CNC) machines, monitoring production, and providing automatic feedback to control operations. 22.Computer aided process planning is an automated decision support system that generates manufacturing operations instructions and routings based on information about.
11 Views
View Answer
MULTIPLE CHOICE 1.Which of the following is not one key characteristics of companies that are successful at managing the pressures resulting from global complexity according to the Deloitte Touche report? a.improved internal business processes in the areas of customers, products, and supply chains b.better use of technology to increase integration within and between.
9 Views
View Answer
TRUE/FALSE 1.Production systems facilitate integration of all aspects of product design, marketing, and manufacturing. 2.Product life cycle management systems are add-ons or additional ERP modules that organize data by product, including design, manufacturing specifications, quality, and warranty performance. 3.Cycle time is the time it takes from when authorization is made for goods to.
15 Views
View Answer
COMPLETION 1.The ______________________________ department is responsible for processing vendor invoices, preparing payment vouchers, and recording purchase and disbursement transactions. 2.The notification of an obligation to pay a vendor for merchandise that was ordered and received is known as a(n) ______________________________. 3.In an accounts payable/cash disbursements process, a most frequent exception routine is caused.
8 Views
View Answer
6.The following is a partial flowchart for the purchasing process. There are selected symbols that must be filled in to complete the flowchart. Fill in the items with missing labels using a letter from A to J. A. Approve PO B. Enterprise database C. Enter requisition data D. Exception routine not shown E. Requisition approval.
9 Views
View Answer
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..
7 Views
View Answer
MULTIPLE CHOICE 1.The general ledger process comprises all of the following except: a.providing information for financial reporting b.serving the needs of managerial reporting c.classifying data by general ledger accounts d.none of the above 2.The business reporting process comprises all of the following except: a.preparing general purpose external financial statements b.generating ad hoc and predetermined business reports for management c.ensuring.
8 Views
View Answer
11.The level 0 diagram of the AP/CD Process contains the two process bubbles of ______________________________ and ______________________________. 12.The vendor sends a _________________________ to notify the purchaser of an obligation to pay for goods or services ordered by and shipped to the purchaser. 13.When the vendor payment is made, the ___________________________________ is updated.
6 Views
View Answer
31.Which of the following is a data flow that generally goes to government agencies? a.attendance time records b.job time records c.payroll contribution notice d.none of the above 32.Payroll tax deposits are initially remitted to: a.government agencies b.the bank c.the general ledger process d.none of the above 33.Payroll tax reports are initially remitted to: a.government agencies b.the bank c.the general ledger process d.none of the.
6 Views
View Answer
11.The vendor invoice triggers the establish payable process. 12.The vendor sends a confirmation to establish the payable. 13.A disbursement voucher is designed to reflect formal approval of the voucher for payment and to provide such added data as the account distribution and the amounts to be debited. 14.The purchase order triggers the make.
14 Views
View Answer
COMPLETION 1.The ________________________________________ is an interacting structure of people, equipment, methods, and controls that is designed to accomplish both operations and information system functions with the purpose of generating accounting and other reports. 2.The ______________________________ comprises accumulating, classifying, and recording data, fueling the financial reporting, business reporting, and other reporting subsystems.. 3.The ______________________________.
10 Views
View Answer
6.The following is a list of 10 control plans. Control Plans A. Independent validation of vendor invoices F. Match invoices, POs, and receiving reports B. Tickler file of payments due G. Reconcile input-output batch totals C. Preformatted screens H. Digital signatures D. Tickler file of open POs and receiving reports I. Independent authorization to make payment E. Cash planning report J. Reconcile bank account Required: Listed below are ten system failures that indicate.
18 Views
View Answer
TRUE/FALSE 1.The GL/BR process is an interacting structure of people, equipment, methods, and controls that is designed to accomplish both operations and information system functions. 2.The business reporting process comprises accumulating, classifying, and recording data, fueling the financial reporting, business reporting, and other reporting subsystems. 3.The general ledger process is concerned with preparing.
15 Views
View Answer
21.Attendance time records show the time periods that employees are working on specific jobs. 22.Job time records reflect the start and stop times on specific jobs. 23.The trigger for the payroll process “pay employees” is the payroll register. 24.The data flow between “prepare paychecks” and “prepare disbursement voucher” is the payroll register. 25.The employee/payroll.
9 Views
View Answer
MULTIPLE CHOICE 1.The typical accounts payable/cash disbursements process would capture and record data related to the day-to-day operations of all of the following departments except: a.shipping b.cashier c.receiving d.activities for all of the above are captured and recorded by the AP/CD process. 2.Which of the following is least likely to report (either directly or indirectly) to.
19 Views
View Answer
TRUE/FALSE 1.The cashier is responsible for processing vendor invoices, preparing payment vouchers, and recording purchase and disbursement transactions. 2.The notification of an obligation to pay a vendor for merchandise that was ordered and received is known as a purchase order. 3.A true voucher system requires that all expenditures for whatever purpose and in.
13 Views
View Answer
MULTIPLE CHOICE 1.The process of preparing paychecks for hourly employees is triggered by which of the following data flows? a.validated attendance time cards b.job time tickets c.a temporal event d.employee paychecks 2.Information for distributing labor charges to jobs, departments, or other accounts comes primarily from: a.attendance time cards b.job time tickets c.a temporal event d.employee paychecks 3.In a payroll system logical.
9 Views
View Answer
11.Actual and budgeted figures are usually sent to the managerial reporting officer by a.the controller b.the treasurer c.the business reporting department d.the budgeting department 12.Actual and budgeted figures are usually sent to the budgeting department from a.the controller b.the treasurer c.the business reporting department d.the managerial reporting officer 13.Adjusted trial balance figures are usually sent from the business reporting department.
10 Views
View Answer
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.
7 Views
View Answer

Can't find what you're looking for ?

Ask our exprts a study questions, on us.
Get free Homework Help*