AIS test 1 2024 questions & answers 100% CORRECT
Given the following REA model snippet: Sale Order (0,N) - (1,N) Shipment - which of the following are true (circle all that are correct):
1. Every item on a Sale Order must be shipped on the same Shipment
2. Some items on a Sale Order can be...
Given the following REA model snippet: Sale Order (0,N) - (1,N) Shipment - which of the following are
true (circle all that are correct):
1. Every item on a Sale Order must be shipped on the same Shipment
2. Some items on a Sale Order can be shipped one day, and the rest on another Shipment
3. Shipments can be recorded without a Sale Order to expedite them
4. Shipments require a Sale Order
5. Sale Orders can be accepted but the shipment happens at a later date - ANSWERS2. Some items on a
Sale Order can be shipped one day, and the rest on another Shipment
4. Shipments require a Sale Order
5. Sale Orders can be accepted but the shipment happens at a later date
Given the following REA model snippet: Purchase Order (0,1) - (1,1) Goods Receipt - which of the
following are WCGWs that the company needs to mitigate (circle all that are correct):
1. Failure to receive goods that were ordered
2. Goods received that were not ordered
3. Purchase Order recorded before the Goods Receipt
,4. Failure to record a Goods Receipt - ANSWERS1. Failure to receive goods that were ordered
2. Goods received that were not ordered
4. Failure to record a Goods Receipt
Given the following REA model snippet: Purchase Order (0,N) - (1,1) Goods Receipt - which of the
following are true:
1. Every item on a Purchase Order must be received on the same Goods Receipt
2. Some items on a Purchase Order can be received one day, and the rest on another Goods Receipt
3. This company allows goods to be received that were not ordered in order to expedite manufacturing
runs
4. This company expects all goods ordered to be received that same day - ANSWERS2. Some items on a
Purchase Order can be received one day, and the rest on another Goods Receipt
Master Data - ANSWERS-Changes to master data are properly authorized/valid.
-Changes made to master data are complete.
-Changes made to master data are accurate.
Invalid Vendors in system - ANSWERS-Vendors are qualified by the credit department through D&B
review / background check / by the QC department for quality concerns
-Vendor Approval form is signed
-Vendor addition report run monthly (ITD)
-Each vendor listed is validated against
,approval documentation
-Someone in a role different than the role responsible for adding /approving vendors to the system
should review and sign off on.
Vendor-Purchase Agent conflict of interest restrictions are incorrect (Purchase Agents do not have
restrictions with the correct vendors) - ANSWERS-automated application control: using data in the
system from the Purchase Agent - Vendor relationship
-ITD Control: Like Invalid Vendor
Vendor data entry/update is NOT system-restricted to appropriate Department - ANSWERSLAC/SOD
governs who can update data; system-restricted to personnel who do not purchase or pay for goods
Inventory Material Maximum Purchase Price is incorrect - ANSWERSstandard purchase price for
inventory item
Would be like the Standard Sale Price for inventory item is incorrect (ITD control)
Inventory data entry/update is NOT system-restricted to appropriate Department - ANSWERSLAC/SOD
governs who can update material data; system-restricted to personnel who do not control/count
inventory, purchase, or pay for goods
Inventory QOH is inaccurate (found in a Purchasing Process) - ANSWERSperiodic physical checks of
inventory
(automatically create purchase orders when the actual QOH becomes less than the minimum QOH)
Inventory Standard Purchase Price in the Vendor - Item master data is inaccurate. - ANSWERSsystem
copies standard purchase price from vendor-parts list and uses as actual price for Purchase order (ITD
control)
Inventory Items are assigned incorrect Vendor(s) in the Vendor - Item master data. - ANSWERSsystem
only allows the purchasing of an item from specified vendors (vendor-parts list)
Fiscal Year - ANSWERSChanges are properly authorized/valid
, Purchase Inventory Items at too high/inflated negotiated price on Purchase Contract - ANSWERSThe
system requires any negotiated unit purchase price for an item on a Contract to be no greater than the
maximum amount for that specific item from the inventory master data
Purchase Contract data entry/update is NOT system-restricted to Purchase Agents - ANSWERSLAC/SOD
control, purchase agents must login and only purchase agents have access to the Enter Purchase Order
screen
Purchase Contract created for items not needed - ANSWERS.
Purchase Contract specifies incorrect Fiscal Year - ANSWERS.
Purchase Order fails to specify/match/order against open Purchase Contract for the appropriate fiscal
year - ANSWERSAutomated application control
Purchase Order specifies items not found on the matched Purchase Contract - ANSWERSSystem copies
data from matched Contract and limits items on the PO to those on the matched Contract
Purchase Order specifies a quantity ordered greater than the amount allowed on the matched
Purchasing Contract - ANSWERSSystem copies data from matched Contract and compares item quantity
ordered on PO to Maximum Total Order Quantity on matched Contract for the item
Purchase Order has incorrect purchase price for Inventory Item(s) ordered - ANSWERS-Copy data from
matched Contract
-Unit Purchase Price for a material on a Contract becomes the Actual Unit Purchase Price for a material
on a PO
Purchase Order created for items not needed - ANSWERS-Automated Control:
computer generated based upon current inventory levels and future needs
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 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 Bensuda. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £9.00. You're not tied to anything after your purchase.
