11 months ago

ACCT 571 DeVry Complete Quiz Package

(TCO D) In the revenue

(TCO D) In the revenue cycle, a customer places an order for a certain product. Before the order is checked for inventory availability, what step should be taken? o o o o The customer's credit should be checked for a sale on account. The sales order should be created and written to a file. Shipping should be notified of an order in process. A picking list should be generated for the warehouse. Question 2. Question : (TCO D) With a(n) __________ system, customers pay according to the amount showing on their monthly statement and payments are simply applied against the total account balance. o o o o closed invoice open invoice balance forward invoice forward Question 3. Question : (TCO D) Sad Clown Pajamas is an Internet-based wholesaler. Customers enter their orders online. The manager of Callow Youth Clothing was entering and order when the following error message popped up: Please enter your email address. This message is the result of a o o o o validity check. reasonableness test. limit check. completeness test. Question 4. Question : (TCO D) Double-checking the accuracy of an invoice is an applicable control that can help to neutralize a threat in the expenditure cycle. What process or activity would specifically be associated with this control? o o o o order goods receive and store goods pay for goods and services general issues Question 5. Question : (TCO D) The receiving clerk at Folding Squid Technologies examines incoming shipments and checks their purchase order numbers. A receiving report is then sent to accounts payable, where it is reconciled with the relevant purchase orders and invoices and payment is authorized. Which of the following would correct control weaknesses, if any, related to these activities? o o o o Vendor invoices should be approved for payment by the shipping clerk after the purchase order and receiving report are reconciled. Vendor invoices should be approved for payment by the purchasing manager. Purchase orders and receiving reports should be reconciled by the purchasing manager. Controls are adequate under the current system. Question 6. Question : (TCO D) In billing and accounts receivable, what documents are commonly used? Question 7. Question : (TCO D) How can information technology be used to improve the vendor invoice approval process? Points Received: 0 of 5 Comments: ACCT 571 DeVry Week 5 Quiz (TCO E) A __________ authorizes the transfer of raw goods needed for production from the storeroom to the production facilities. o master production schedule

o o o materials requisition move ticket production order Question 2. Question : (TCO E) Labor productivity is measured by the average product of labor; i.e., the quantity produced divided by the labor time required to produce it. All other things held constant, an increase in labor productivity will increase throughput by o o o o increasing productive capacity. increasing productive processing time. increasing yield. increasing all components of throughput. Question 3. Question : (TCO E) Theft or fraudulent distribution of payroll checks is a potential threat to the payroll processing activity. What is one control that can be implemented to help prevent paychecks being issued to a "phantom" or "ghost" employee? o o o o the cashier should sign all payroll checks prenumber all payroll checks use an imprest account to clear payroll checks paychecks should be physically distributed by someone who does not authorize or record payroll Question 4. Question : (TCO F) Concerning XBRL, which of the following statements is not true? o o o o XBRL is a variant of XML. XBRL is specifically designed for use in communicating the content of financial data. XBRL creates unique tags for each data item. XBRL's adoption means accountants and systems professionals must know how to write XBRL code to take advantage of its benefits. Question 5. Question : (TCO F) Bobby Burns, CEO of Maudlin Motors, walked into the office of Tom Sanchez, chief information officer. “Tom,” he said. “We need some way of getting a better handle on our overall performance. The financial reports are all well and good, but we need to track customer satisfaction and other aspects of the business.” Tom should recommend that Maudlin Motors o o o o implement a data warehouse system. set up a data mining operation. use online analytical processing (OLAP.) implement balanced scorecard reporting. Question 6. Question : (TCO E) What are some of the benefits of using incentives and bonuses? What are some dangers? Question 7. Question : (TCO F) How is an audit trail used in the general ledger and reporting system? ACCT 571 DeVry Week 6 Quiz (TCO F) An example of an agent is o o o o customer sales cash inventory Question 2. Question : (TCO F) When implementing 1:1 and 1:N relationships

MKT 571 Week 5 Quiz Complete Assignment Help.pdf
MKT 571 Week 6 Quiz Complete Assignment Help.pdf
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