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ACC 400 AIS Exam 3 (Ch. 12-14) | Questions And Answers Latest {} A+ Graded | 100% Verified
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ACC 400 AIS Exam 3 (Ch. 12-14) | Questions And Answers Latest {} A+ Graded | 100% Verified
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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
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