Question 1

In the SAP ERP system,the screen used to specify account reconciliation data is the ________ ________ screen.

Accepted Answer

account management

Question 2

Effective internal control provides ________ assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes.

Accepted Answer

reasonable

Question 3

Which illustration is not an example of a supervision technique?

Accepted Answer

A)  Using professional shoppers in a retail environment 
B)  Using a test package for a bank teller or cash counter 
C)  Having a cash register make sound when it is opened in the presence of a customer 
D)  All of these answers above are correct. 
A)  Using professional shoppers in a retail environment 
B)  Using a test package for a bank teller or cash counter 
C)  Having a cash register make sound when it is opened in the presence of a customer 
D)  All of these answers above are correct. C

Question 4

The transmission medium used for preparing and sending an invoice to a customer can be found in the "create customer" partner functions screen.

Accepted Answer

A) True 
 B)False

Question 5

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 on an individual invoice basis.The marketing department's sales forecast estimates that Melbourne will build a customer base of 1,800 in six to nine months.
Required:
a.What is the appropriate accounts receivable processing method for Melbourne Manufacturing? Describe how it would work.
b.Describe the concept of cycle billing.What are the potential benefits of cycle billing for Melbourne Manufacturing?

Accepted Answer

a.The company should use the open-item p

Question 6

Inquiries contain delivery information; quotations do not.

Accepted Answer

A) True 
 B)False

Question 7

Cash sales are only subject to accounting control if a record of the sale has been created.

Accepted Answer

A) True 
 B)False

Question 8

The complexity of picking and packing differs significantly for different products.

Accepted Answer

A) True 
 B)False

Question 9

Match between columns
                        Premises:  Remittance list
 Credit memo
 Open-item processing
 Bill of lading
 Invoice
 Balance-forward processing
 Sales order
 Inquiry
 Goods issue notice
 Float

Accepted Answer

The Answer of Documentation which is forwarded to the billing is...

Question 10

When a "sold-to" customer record is created in the SAP ERP system,other master records are automatically created using the same information.The input screen in which these records are associated with each other is the

Accepted Answer

A)  output screen. 
B)  billing screen. 
C)  account management screen. 
D)  partner functions screen. 
A)  output screen. 
B)  billing screen. 
C)  account management screen. 
D)  partner functions screen.

Question 11

As part of adequate transaction cycle controls in order processing,after the finished goods department has picked a customer's order according to a delivery document,the records which should be updated to reflect actual quantities picked are found in the

Accepted Answer

A)  order database. 
B)  credit files. 
C)  master price list. 
D)  inventory database. 
A)  order database. 
B)  credit files. 
C)  master price list. 
D)  inventory database.

Question 12

The party best suited to reconciling a company's bank account is the internal auditor.

Accepted Answer

A) True 
 B)False

Question 13

After a sales order has been placed,the next step in the customer order business management process is to ship the goods or perform the requested services.

Accepted Answer

A) True 
 B)False

Question 14

The approval of sales returns and allowances is a function of the credit department.

Accepted Answer

A) True 
 B)False

Question 15

In the SAP ERP system,how many types of customer records must be created and maintained?

Accepted Answer

A)  Four 
B)  One 
C)  Six 
D)  Two 
A)  Four 
B)  One 
C)  Six 
D)  Two

Question 16

The first screen used to create a customer in a SAP ERP system is

Accepted Answer

A)  control data. 
B)  contact person. 
C)  initial. 
D)  account management. 
A)  control data. 
B)  contact person. 
C)  initial. 
D)  account management.

Question 17

Sarbanes-Oxley compliance requires companies maintain an adequate internal control structure over the business processes that support financial reporting.

Accepted Answer

A) True 
 B)False

Question 18

Imprest techniques control cash receipts with far greater accuracy than cash payments.

Accepted Answer

A) True 
 B)False

Question 19

The prices entered on sales orders should be independent of the sales order function.To achieve this transaction cycle control,the company's ordering system should use

Accepted Answer

A)  an independently prepared master price list authorized by management. 
B)  prices found in the order database. 
C)  prices listed by the sales representative who initiated the order. 
D)  All of these answers are correct. 
A)  an independently prepared master price list authorized by management. 
B)  prices found in the order database. 
C)  prices listed by the sales representative who initiated the order. 
D)  All of these answers are correct.

Question 20

As item data are entered into the "create sales order" screen in SAP ERP,the system automatically checks the availability status of the item.

Accepted Answer

A) True 
 B)False

In the SAP ERP system,the screen used to specify account reconciliation data is the screen.

Effective internal control provides ________ assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes.

Which illustration is not an example of a supervision technique?

The transmission medium used for preparing and sending an invoice to a customer can be found in the "create customer" partner functions screen.

Inquiries contain delivery information; quotations do not.

Cash sales are only subject to accounting control if a record of the sale has been created.

The complexity of picking and packing differs significantly for different products.

When a "sold-to" customer record is created in the SAP ERP system,other master records are automatically created using the same information.The input screen in which these records are associated with each other is the

As part of adequate transaction cycle controls in order processing,after the finished goods department has picked a customer's order according to a delivery document,the records which should be updated to reflect actual quantities picked are found in the

The party best suited to reconciling a company's bank account is the internal auditor.

After a sales order has been placed,the next step in the customer order business management process is to ship the goods or perform the requested services.

The approval of sales returns and allowances is a function of the credit department.

In the SAP ERP system,how many types of customer records must be created and maintained?

The first screen used to create a customer in a SAP ERP system is

Sarbanes-Oxley compliance requires companies maintain an adequate internal control structure over the business processes that support financial reporting.

Imprest techniques control cash receipts with far greater accuracy than cash payments.

The prices entered on sales orders should be independent of the sales order function.To achieve this transaction cycle control,the company's ordering system should use

As item data are entered into the "create sales order" screen in SAP ERP,the system automatically checks the availability status of the item.

Accounting Information Systems: An Overview

Systems Techniques and Documentation

Ebusiness and Ecommerce

Transaction Processing and the Internal Control Process

Fraud Examination and Fraud Management

Information Systems Security

Electronic Data Processing Systems

Procurement and Human Resources Business Processes

The Production Business Process

Systems Planning, analysis, and Design

Systems Project Management, implementation, operation, control

Data Management Concepts

Auditing Information Technology

Filters

Exam 8: Revenue Cycle Processes

In the SAP ERP system,the screen used to specify account reconciliation data is the ________ ________ screen.

Effective internal control provides ________ assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes.

Which illustration is not an example of a supervision technique?

The transmission medium used for preparing and sending an invoice to a customer can be found in the "create customer" partner functions screen.

Inquiries contain delivery information; quotations do not.

Cash sales are only subject to accounting control if a record of the sale has been created.

The complexity of picking and packing differs significantly for different products.

When a "sold-to" customer record is created in the SAP ERP system,other master records are automatically created using the same information.The input screen in which these records are associated with each other is the

As part of adequate transaction cycle controls in order processing,after the finished goods department has picked a customer's order according to a delivery document,the records which should be updated to reflect actual quantities picked are found in the

The party best suited to reconciling a company's bank account is the internal auditor.

After a sales order has been placed,the next step in the customer order business management process is to ship the goods or perform the requested services.

The approval of sales returns and allowances is a function of the credit department.

In the SAP ERP system,how many types of customer records must be created and maintained?

The first screen used to create a customer in a SAP ERP system is

Sarbanes-Oxley compliance requires companies maintain an adequate internal control structure over the business processes that support financial reporting.

Imprest techniques control cash receipts with far greater accuracy than cash payments.

The prices entered on sales orders should be independent of the sales order function.To achieve this transaction cycle control,the company's ordering system should use

As item data are entered into the "create sales order" screen in SAP ERP,the system automatically checks the availability status of the item.

Accounting Information Systems: An Overview

Systems Techniques and Documentation

Ebusiness and Ecommerce

Transaction Processing and the Internal Control Process

Fraud Examination and Fraud Management

Information Systems Security

Electronic Data Processing Systems

Procurement and Human Resources Business Processes

The Production Business Process

Systems Planning, analysis, and Design

Systems Project Management, implementation, operation, control

Data Management Concepts

Auditing Information Technology

Filters

In the SAP ERP system,the screen used to specify account reconciliation data is the screen.