Question 1

The internal control of cash receipts related to adequate records and documents would include which of the following?

Accepted Answer

A) Cash receipts listings prepared on a daily basis and reconciled to supporting documentation from the bank deposit 
B) Bank deposit receipts should be retained and filed chronologically. 
C) Detailed customer accounts should also be maintained and reconciled with customer statements regularly. 
D) All of the above 
A) Cash receipts listings prepared on a daily basis and reconciled to supporting documentation from the bank deposit 
B) Bank deposit receipts should be retained and filed chronologically. 
C) Detailed customer accounts should also be maintained and reconciled with customer statements regularly. 
D) All of the above

Question 2

In order to protect data files, production programs, and accounting records from unauthorized access, each of the following may be used, except:

Accepted Answer

A) Passwords 
B) Physical controls (locked cabinets) 
C) Backup copies 
D) Surveillance cameras 
A) Passwords 
B) Physical controls (locked cabinets) 
C) Backup copies 
D) Surveillance cameras

Question 3

The authorization of sales returns requires that certain individuals within the company be assigned the authority for all of the following, except:

Accepted Answer

A) Authorize sales returns 
B) Approve credit memos 
C) Develop sales return policies 
D) Record the credit memos 
A) Authorize sales returns 
B) Approve credit memos 
C) Develop sales return policies 
D) Record the credit memos

Question 4

Because it can be expensive to develop and maintain a system that links two companies directly, the companies often use a third-party network.This third-party network provides other valuable services such as translation and encryption of the EDI data and authentication of a valid and authorized training partner.These third-party networks are called:

Accepted Answer

A) EDI Mailboxes 
B) American National Standards Provider 
C) Value Added Networks 
D) Secured EDI Networks 
A) EDI Mailboxes 
B) American National Standards Provider 
C) Value Added Networks 
D) Secured EDI Networks

The internal control of cash receipts related to adequate records and documents would include which of the following?

In order to protect data files, production programs, and accounting records from unauthorized access, each of the following may be used, except:

The authorization of sales returns requires that certain individuals within the company be assigned the authority for all of the following, except:

Introduction to AIS

Foundational Concepts of the AIS

Fraud, Ethics, and Internal Control

Internal Controls and Risks in IT Systems

IT Governance

Enterprise Resource Planning ERP Systems

Auditing Information Technology-Based Processes

Expenditures Processes and Controlspurchases

Expenditures Processes and Controlspayroll and Fixed Assets

Conversion Processes and Controls

Administrative Processes and Controls

Data and Databases

E-Commerce and E-Business

Filters

Exam 8: Revenue and Cash Collection Processes and Controls

The internal control of cash receipts related to adequate records and documents would include which of the following?

In order to protect data files, production programs, and accounting records from unauthorized access, each of the following may be used, except:

The authorization of sales returns requires that certain individuals within the company be assigned the authority for all of the following, except:

Introduction to AIS

Foundational Concepts of the AIS

Fraud, Ethics, and Internal Control

Internal Controls and Risks in IT Systems

IT Governance

Enterprise Resource Planning ERP Systems

Auditing Information Technology-Based Processes

Expenditures Processes and Controlspurchases

Expenditures Processes and Controlspayroll and Fixed Assets

Conversion Processes and Controls

Administrative Processes and Controls

Data and Databases

E-Commerce and E-Business

Filters