Question 1

A ledger is a chronological record of business events by account.

Accepted Answer

A) True 
 B)False

Question 2

A company's chart of accounts is used to organize its general ledger.

Accepted Answer

A) True 
 B)False

Question 3

Much of the input and output related to business processes is now electronic.Which of the following technologies is becoming increasingly popular to manage inventory?

Accepted Answer

A) EDI 
B) RFID tags 
C) Magnetic ink characters that can be quickly and easily scanned 
D) Bluetooth and wireless-enabled laptop computers 
A) EDI 
B) RFID tags 
C) Magnetic ink characters that can be quickly and easily scanned 
D) Bluetooth and wireless-enabled laptop computers

Question 4

Which of the following is not an objective of the purchasing process?

Accepted Answer

A) Inventory control 
B) Fastest possible processing of payments to vendors 
C) Maintaining vendor records 
D) Forecasting cash outflows 
A) Inventory control 
B) Fastest possible processing of payments to vendors 
C) Maintaining vendor records 
D) Forecasting cash outflows

Question 5

Why do firms like Walmart and Procter & Gamble create supply chain partnerships?

Accepted Answer

A) These firms are chain stores, and they need supply chains 
B) Supply chains make inventory management more efficient 
C) Supply chains make database designs more efficient 
D) Supply chains allow the firms to be more independent 
A) These firms are chain stores, and they need supply chains 
B) Supply chains make inventory management more efficient 
C) Supply chains make database designs more efficient 
D) Supply chains allow the firms to be more independent

Question 6

Performance reports are:

Accepted Answer

A) Reports that compare budgets with actual performance 
B) Reports that show any exceptional conditions in an organization 
C) Never presented in an exception format 
D) Transaction listings 
A) Reports that compare budgets with actual performance 
B) Reports that show any exceptional conditions in an organization 
C) Never presented in an exception format 
D) Transaction listings

Question 7

The bill of lading:

Accepted Answer

A) Reflects freight charges on goods shipped 
B) Signifies release of goods for shipment to customers 
C) Is sent to the customer with the purchase invoice 
D) Is used to control inventory 
A) Reflects freight charges on goods shipped 
B) Signifies release of goods for shipment to customers 
C) Is sent to the customer with the purchase invoice 
D) Is used to control inventory

Question 8

Which of the following is not usually a design consideration in coding systems?

Accepted Answer

A) Consistency 
B) Standardization 
C) Government regulation 
D) Plans for future expansion 
A) Consistency 
B) Standardization 
C) Government regulation 
D) Plans for future expansion

Question 9

Which of the following statements best describes business process outsourcing?

Accepted Answer

A) A company focuses on its core business processes and contracts with another firm to do the other processes 
B) Companies frequently outsource core business processes 
C) Due to networked enterprises and advanced technology, more employees may work from their homes or alternate locations 
D) Initially, companies engaged in business process outsourcing offered employees more opportunities to travel and more career choices for advancement 
A) A company focuses on its core business processes and contracts with another firm to do the other processes 
B) Companies frequently outsource core business processes 
C) Due to networked enterprises and advanced technology, more employees may work from their homes or alternate locations 
D) Initially, companies engaged in business process outsourcing offered employees more opportunities to travel and more career choices for advancement

Question 10

A cash disbursements journal is an example of a special journal.

Accepted Answer

A) True 
 B)False

Question 11

To forecast cash receipts, information must be collected from:

Accepted Answer

A) The purchasing process 
B) Payroll processing 
C) Inventory control systems 
D) The sales process 
A) The purchasing process 
B) Payroll processing 
C) Inventory control systems 
D) The sales process

Question 12

Group codes are very flexible in identifying accounting data.

Accepted Answer

A) True 
 B)False

Question 13

The financial accounting cycle ends with:

Accepted Answer

A) The production of financial statements 
B) The production of a post closing trial balance 
C) The production of an adjusted trial balance 
D) Development of cash forecasts 
A) The production of financial statements 
B) The production of a post closing trial balance 
C) The production of an adjusted trial balance 
D) Development of cash forecasts

Question 14

The sales process begins with placing an order with a vendor.

Accepted Answer

A) True 
 B)False

Question 15

All of the following are inputs source documents)to the sales process except:

Accepted Answer

A) Sales order 
B) Shipping notice 
C) Remittance advice 
D) all of the above are source documents to the sales process 
A) Sales order 
B) Shipping notice 
C) Remittance advice 
D) all of the above are source documents to the sales process

Question 16

Which of the following Business Process Management BPM)software solutions is most often associated with the sales process?

Accepted Answer

A) Enterprise resource management 
B) Integrated management 
C) Customer relationship management 
D) Supply chain management 
E) none of the above 
A) Enterprise resource management 
B) Integrated management 
C) Customer relationship management 
D) Supply chain management 
E) none of the above

Question 17

Which of the following is not an example of a source document?

Accepted Answer

A) Receiving report 
B) Purchase order 
C) Sales order 
D) Aging report 
A) Receiving report 
B) Purchase order 
C) Sales order 
D) Aging report

Question 18

Block codes are commonly used in constructing charts of accounts.

Accepted Answer

A) True 
 B)False

Question 19

A two-digit alphabetic code has many more different combinations of symbols than a two-digit numeric code.

Accepted Answer

A) True 
 B)False

Question 20

A general ledger:

Accepted Answer

A) Is a chronological listing of an organization's transactions 
B) Is a listing of an organization's transactions, organized by account 
C) Does not include every account in an organization's chart of accounts 
D) Is the same thing as a transaction listing 
A) Is a chronological listing of an organization's transactions 
B) Is a listing of an organization's transactions, organized by account 
C) Does not include every account in an organization's chart of accounts 
D) Is the same thing as a transaction listing

A ledger is a chronological record of business events by account.

A company's chart of accounts is used to organize its general ledger.

Much of the input and output related to business processes is now electronic.Which of the following technologies is becoming increasingly popular to manage inventory?

Which of the following is not an objective of the purchasing process?

Why do firms like Walmart and Procter & Gamble create supply chain partnerships?

Performance reports are:

The bill of lading:

Which of the following is not usually a design consideration in coding systems?

Which of the following statements best describes business process outsourcing?

A cash disbursements journal is an example of a special journal.

To forecast cash receipts, information must be collected from:

Group codes are very flexible in identifying accounting data.

The financial accounting cycle ends with:

The sales process begins with placing an order with a vendor.

All of the following are inputs source documents)to the sales process except:

Which of the following Business Process Management BPM)software solutions is most often associated with the sales process?

Which of the following is not an example of a source document?

Block codes are commonly used in constructing charts of accounts.

A two-digit alphabetic code has many more different combinations of symbols than a two-digit numeric code.

A general ledger:

Accounting Information Systems and the Accountant

Information Technology and Aiss

Data Modeling

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Documenting Accounting Information Systems

Accounting Information Systems and Business Processes: Part II

Introduction to Internal Control Systems

Computer Controls for Organizations and Accounting Information Systems

Computer Crime, Fraud, Ethics, and Privacy

Information Technology Auditing

Developing and Implementing Effective Accounting Information Systems

Accounting on the Internet

Accounting and Enterprise Software

Filters

Exam 7: Accounting Information Systems and Business Processes: Part I

A ledger is a chronological record of business events by account.

A company's chart of accounts is used to organize its general ledger.

Much of the input and output related to business processes is now electronic.Which of the following technologies is becoming increasingly popular to manage inventory?

Which of the following is not an objective of the purchasing process?

Why do firms like Walmart and Procter & Gamble create supply chain partnerships?

Performance reports are:

The bill of lading:

Which of the following is not usually a design consideration in coding systems?

Which of the following statements best describes business process outsourcing?

A cash disbursements journal is an example of a special journal.

To forecast cash receipts, information must be collected from:

Group codes are very flexible in identifying accounting data.

The financial accounting cycle ends with:

The sales process begins with placing an order with a vendor.

All of the following are inputs source documents)to the sales process except:

Which of the following Business Process Management BPM)software solutions is most often associated with the sales process?

Which of the following is not an example of a source document?

Block codes are commonly used in constructing charts of accounts.

A two-digit alphabetic code has many more different combinations of symbols than a two-digit numeric code.

A general ledger:

Accounting Information Systems and the Accountant

Information Technology and Aiss

Data Modeling

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Documenting Accounting Information Systems

Accounting Information Systems and Business Processes: Part II

Introduction to Internal Control Systems

Computer Controls for Organizations and Accounting Information Systems

Computer Crime, Fraud, Ethics, and Privacy

Information Technology Auditing

Developing and Implementing Effective Accounting Information Systems

Accounting on the Internet

Accounting and Enterprise Software

Filters