Exam (elaborations)
ACC 400 AIS Exam 3 (Ch. 12-14) | Questions And Answers Latest {} A+ Graded | 100% Verified
- Course
- Institution
ACC 400 AIS Exam 3 (Ch. 12-14) | Questions And Answers Latest {} A+ Graded | 100% Verified
[Show more]
Content preview
ACC 400 AIS Exam 3 (Ch. 12-14) | Questions And Answers Latest {2024- 2025} A+ Graded| 100% Verified
When would an MRP inventory approach be a preferred to a JIT inventory approach? - when demand for
inventory is fairly predictable
The ________ normally triggers the billing process in the revenue cycle - packing slip received from the
shipping department
________ identifies costs with the corporation's strategy for production of goods and services - Activity-
based costing
Regularly reviewing an accounts receivable aging report can help management do what? - determine
whether changes are needed in the firm's credit policies
A document typically encountered in the revenue cycle that is both an output document and a source
document is the - sales invoice
When a customer pays off the balance on an invoice, the payment is credited to the ________ file -
customer master
Materials requirements planning (MRP) - reduces the uncertainty about when materials are needed,
thereby reducing the need to carry large levels of inventory
Direct labor must be tracked and accounted for as part of the production process. Traditionally, direct
labor was tracked using ________ but an AIS enhancement is to use ________ to record and track direct
labor costs - job-time tickets; coded identification cards
Key differences exist when an integrated Enterprise Resource Planning system (ERP) replaces an existing
AIS or legacy system. For example, ________ are more accurate and timely, enabling sales order entry
staff to provide customers more accurate information about delivery dates - inventory records
, If duties are properly segregated, the authorization function is performed by ________, the recording
function is performed by ________, and cash handling is performed by the ________ - purchasing;
accounts payable; cashier
The accounts receivable management method typically used by credit card companies is - balance
forward
Comparing quantities on a vendor invoice to quantities on the receiving report would not prevent or
detect which of the following situations? - receiving and accepting inventory not ordered
The ________ should always be included with a merchandise shipment to a customer - packing slip
Which of the following organization controls should be implemented and maintained to counteract the
general threat that the loss of production data will greatly slow or halt production activity? - Access
controls should apply to all terminals within the organization
The ________ specifies the point at which inventory is needed - reorder point
What control would best mitigate the threat of paying an invoice twice? - never authorizing payment of
a photocopy of an invoice
Customers that send their payments electronically directly to the billing company's bank are using -
electronic funds transfer (EFT)
For replacement of inventories and assets destroyed by fire or other disasters, an organization needs -
adequate insurance coverage
Which of the following controls would be the least effective in preventing paying the same invoice
twice? - Allow only the accounts payable department to authorize payment for vendor invoices and
allow only the cash disbursements department to cut and mail checks to vendors.
________ attempts to minimize or eliminate carrying and stockout costs - Just-in-time inventory
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller oneclass. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.48. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now