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Accounting Information Systems Quiz 14-17 questions & correct answers. $8.99   Add to cart
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Accounting Information Systems Quiz 14-17 questions & correct answers.
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Accounting Information Systems Quiz 14-17 questions & correct answers.

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  • September 5, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • accounting information systems quiz 14 17 question

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  • Accounting Information System
  • Accounting Information System

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Accounting Information Systems Quiz
14-17 questions & correct answers.

What is the common flow of data in the purchasing process? ANS - Ordering goods, receiving goods,
receiving invoice, and disbursing cash



In the context of the acquisition/payment process, the three-way match concept applies to which of the
following sets of documents? ANS - Receiving report, purchase order, vendor invoice



The primary purpose of the acquisition/payment process is to: ANS - Both obtain and pay for the
resources the organization needs.



Which of the following is the best example of a conflict of interest? ANS - RKH purchases 80% of its
inventory from a firm where RKH's purchasing agent is a stockholder



Which of the following describes the best physical control(s) over cash disbursements? ANS - Using pre-
numbered checks for all disbursements to vendors over $50



Which of the following is TRUE regarding the segregation of duties in the purchasing process? ANS - All
of the above are true regarding the segregation of duties in the purchasing process.



One output of the accounting information system is the statement of cash flows. Transactions
commonly associated with an organization's acquisition/payment process are most likely to be reflected
in which section of the statement of cash flows? ANS - Operating



As a form of internal control within the acquisition/payment process, internal auditors are most likely
to: ANS - Prevent or detect a problem.



Internal controls that address the risk of purchasing goods from inappropriate suppliers include: ANS -
Strategic alliances

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