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Acc 401 - AIS > Test 2 Quizzes > Flashcards

Test 2 Quizzes Flashcards

1
Q

How would the data for a customer inquiry be represented in a Data Flow Diagram (DFD)?

A

Arrow

—————->

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2
Q

Which symbol would be used in a flowchart to represent a general ledger?

A

_

/_/

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3
Q

Which symbol would be used to show matching the following paper-based documents: invoice, purchase order, and receiving report?

A

____
\ /
_/

Manual Operation

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4
Q 
Identify the three types of data anomalies that can occur in databases.
create anomaly
update anomaly
Correct
insert anomaly
Correct
retrieve anomaly
select anomaly
delete anomaly
Correct
closed-loop anomaly
A

update
insert
delete

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5
Q

T/F:

A Primary key can be null

A

False

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6
Q

T/F:

A Foreign key can be null

A

True

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7
Q

T/F:

Minimal data redundancy and data inconsistencies is an advantage of a database systems.

A

True

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8
Q

T/F:
A Data Dictionary defines all elements that are available to build a database for a business, much like an Oxford dictionary defines all the words that could be used in this question.

A

False, the database developer defines the elements needed in each database

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9
Q

T/F:

To get to first normal form, repeating groups of fields have to be removed.

A

True

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10
Q

Which schema represents an individual user’s view of the portions of a database to which s/he has access.
external level schema
internal level schema
conceptual level schema

A

external level schema

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11
Q

An employee authorizes a credit memo for a sales return when the goods were never actually returned. Which internal control would provide the best protection?

  • monthly statement to customers
  • reconciliation of subsidiary accounts to general ledger
  • configuration of ERP system to require a receiving report for a sales return credit memo
  • segretation of duties of credit authorization and shipping
A

configuration of ERP system to require a receiving report for a sales return credit memo

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12
Q

A business experiences unauthorized disclosure of the buying habits of several well-known customers. Which internal control would provide the best protection?

  • data entry controls
  • access controls
  • data entry edit controls
  • rfid technology
A

access controls

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13
Q

A business loses all information about amounts owed by customers in New York City because the master database for that office was destroyed in a fire. Describe internal controls that would provide protection from this problem.

  • Regular backups stored offsite
  • Hot site
  • Disaster recovery plan
  • All of the above
A

All

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14
Q

The company’s website is unavailable for seven hours because of a power outage. Describe internal controls that would provide protection from this problem.

  • Real-time mirroring
  • UPS
  • FEDI
  • CRM
A

Realtime Mirroring

**UPS gets partial credit because typically they only have enough time to back up data and safely shut down

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15
Q

A sales clerk sells a $7,000 item to a friend and alters the price to $700. Describe internal controls that would provide protection from this problem.

  • Supervisor approval for sales
  • Supervisor approval for price changes
  • Supervisor approval for change logs
  • Supervisor approval for new customers
A

Supervisor approval for price changes

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16
Q 
Which of the following techniques is the most efficient way to process customer payments and update accounts receivable?
EFT
UPIC
FEDI
ACH
A

FEDI

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17
Q

Why should inventory quantities on hand be checked before a sale is actually made?
A. to inform the customer about availability and delivery times
B. to know which items must be back ordered
C. to inform inventory control of mistakes in the inventory records
A and B above

A

A and B above

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18
Q 
When a customer pays off the balance on an invoice, the transaction is credited to the \_\_\_\_\_\_\_\_\_\_ file.
customer master
sales transaction
cash receipts
All of the above are correct.
A

customer master file

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19
Q

Customer inquiries during the sales order process are best handled by
A. a sales order and customer service person.
B. accounting personnel.
C. the credit manager.
A and C above

A

A

20
Q

A company fails to bill customers due to a lack of controls. The exposure the company faces is

  • customer dissatisfaction.
  • an overstated accounts receivable balance.
  • a loss of inventory and revenue.
  • uncollectible sales and losses due to bad debts
A

a loss of inventory and revenue.

21
Q

Sad Clown Pajamas is an Internet-based wholesaler. Customers enter their orders online. The manager of Callow Youth Clothing was entering an order when the following error message popped up: Did you mean to enter a quantity of -1000 for your order? This message is the result of a

  • validity check.
  • sign check
  • limit check.
  • completeness test.
A

Sign check.

22
Q

In Petaluma, California, electric power is provided to consumers by the Power To The People Electrical Company, a local co-op. Each month PTTP mails bills to 70,000 households and then processes payments as they are received. The customers are provided with a remittance advice, which is a

  • warning that failure to pay by the due date will result in a late charge.
  • confirmation of the firm’s privacy policy.
  • turnaround document.
  • bill.
A

turnaround document

23
Q

One applicable control procedure is to restrict physical access to inventory. This control feature is designed to neutralize the threat of

  • theft of inventory
  • billing errors
  • stockouts
  • posting errors
A

theft of inventory

24
Q

Laz Chance wears roller blades and headphones when he is at work at the Squishy Things Toy Company. He is a product packer. The headphones give him computer-generated instructions so he knows the location of each item and quantity that should be included in the order. He encloses a paper form in the box when the order is complete. The form is called a

  • picking ticket.
  • bill of lading.
  • packing slip.
  • remittance advice.
  • credit memo
A

packing slip

25
Q

An Entity is

  • one part of a flowchart
  • anything about which the organization wishes to collect and store information
  • related to a transitive anomaly
  • equivalent to an attribute
A

anything about which the organization wishes to collect and store information

26
Q

Cardinality indicates
if many instances of one observation can be linked to another specific observation
if an observation must be linked to another observation
whether a Customer must have a Sale
all of the above

A

All

27
Q 
Within REA, Customers are modeled as an
event
resource
agent
transaction
A

Agents

28
Q

Who should approve purchase orders?

  • Controller
  • Cashier
  • Purchasing Agent - specific authorization
  • Purchasing Agent - general authorization
A

-Purchasing Agent - general authorization

29
Q

Who should approve supplier invoices for payment?

  • Cashier
  • Controller
  • Accounts Payable Clerk
  • Purchasing Agent
A

Accounts Payable Clerk

30
Q

Who should be the primary person to request inventory to be purchased

  • Inventory Control
  • Controller
  • CFO
  • Purchasing Agent
A

Inventory Control

31
Q

Who should mail checks?

  • Purchasing Agent
  • Controller
  • Cashier
  • Receiving Clerk
A

Cashier

32
Q

Who should inspect the quantity and quality of inventory received?

  • Purchasing Agent
  • Cashier
  • Controller
  • Receiving Clerk
A

Receiving Clerk

33
Q

Evaluated Receipt Settlement involves matching:

  • the vendor invoice with the receiving report
  • the purchase order with the receiving report
  • the vendor invoice with the purchase order
  • the vendor invoice, the receiving report, and the purchase order
A

the purchase order with the receiving report

34
Q 
Which document is used to record a reduction to the balance due a vendor?
Receiving report
Credit memo
Debit memo
Purchase order
A

Debit Memo

35
Q 
Which of the following inventory control methods is most likely to be used by a company that purchases inventory according to a sales forecast?
JIT
EOQ
MRP
ABC
A

MRP

36
Q

Which of the following documents will best prevent the receipt of unordered goods?

  • Approved purchase order
  • Approved vendor invoice
  • Signed receiving report
A

Approved purchase order

37
Q

Which of the following control procedures would best prevent failure to take available purchase discounts?

  • Filing by due date
  • Use bar code technology
  • Double-check invoice accuracy
A

Filing by due date

38
Q

Which document is used to establish a contract for the purchase of goods or services from a vendor?

  • vendor invoice
  • purchase requisition
  • purchase order
  • bill of lading
A

purchase order

39
Q

Which of the following is NOT a key management decision that must be addressed in the expenditure cycle?

  • How can cash payments to vendors be managed to optimize cash flow?
  • What is the optimal level of inventory and supplies to carry on hand?
  • What are the optimal selling prices for each product or service?
A

What are the optimal selling prices for each product or service?

40
Q

A standing order to purchase specified items at a designated price, from a particular supplier for a set period of time, is called a

  • set order
  • blanket purchase order
  • purchase order
A

blanket purchase order

41
Q

Which control would be best to prevent payments made to fictitious vendors?

  • segregate the accounts payable and accounts receivable functions
  • have an independent bank reconciliation
  • make sure all documents are in order before approving payments
A

make sure all documents are in order before approving payments

42
Q

Which of the following is generally not shown on a receiving report?

  • price of the items
  • quantity of the items
  • purchase order number
  • counted and inspected by
A

Price of the items

43
Q

T/F:

A relation may be created between an agent and a resource.

A

True

44
Q

T/F:

A location entity can be used to track where resources are stored or where events take place.

A

True

45
Q

T/F:

Services cannot be modeled in an REA diagram as they do not represent tangible resources.

A

False

46
Q

T/F:

The give-to-get economic exchange doesn’t exist in a rental transaction.

A

False

47
Q

T/F:

If modeling a digital asset, the quantity on hand field is represented as infinity

A

False

No need for quantity on hand, qty available, reorder pt attributes

Acc 401 - AIS (6 decks)

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