Ch. 1 Business Processes

Question 1

Collect payment on customer accounts

Answer 1

Revenue Cycle

Question 2

Complete a picking ticket for a customer order

Answer 2

Revenue Cycle

Question 3

Decide how many units to make next month

Answer 3

Production Cycle

Question 4

Disburse payroll checks to factory workers

Answer 4

HR/Payroll Cycle

Question 5

Draw upon line of credit

Answer 5

Financing Cycle

Question 6

Establish a $10,000 credit limit for a new customer

Answer 6

Revenue Cycle

Question 7

Hire a new assistant controller

Answer 7

HR/Payroll Cycle

Question 8

Obtain a bank loan

Answer 8

Financing Cycle

Question 9

Pay federal payroll taxes

Answer 9

HR/Payroll Taxes

Question 10

Pay for raw materials

Answer 10

Expenditure Cycle

Question 11

Pay off mortgage on factor

Answer 11

Financing Cycle

Question 12

Pay property taxes on office building

Answer 12

Expenditure Cycle

Question 13

Pay sales commissions

Answer 13

HR/Payroll Cycle

Question 14

Pay utility bills

Answer 14

Expenditure Cycle

Question 15

Purchase raw materials

Answer 15

Expenditure Cycle

Question 16

Put purchased goods into the warehouse

Answer 16

Expenditure Cycle

Question 17

Record factory employee timecards

Answer 17

HR/Payroll Cycle

Question 18

Record goods received from vendor

Answer 18

Expenditure Cycle

Question 19

Sell Concert Tickets

Answer 19

Revenue Cycle

Question 20

Sell DVD player

Answer 20

Revenue Cycle

Question 21

Send an order to a vendor

Answer 21

Expenditure Cycle

Question 22

Send new employees to a business ethics course

Answer 22

HR/Payroll

Question 23

Update the allowance for uncollectible accounts

Answer 23

Revenue Cycle