Question 1

A remittance advice is

Accepted Answer

A)  used to increase (debit) an account receivable by the cash received 
B)  is a turn-around document 
C)  is retained by the customer to show proof of payment 
D)  none of the above 
A)  used to increase (debit) an account receivable by the cash received 
B)  is a turn-around document 
C)  is retained by the customer to show proof of payment 
D)  none of the above

Question 2

Which journal is not used in the revenue cycle?

Accepted Answer

A)  cash receipts journal 
B)  sales journal 
C)  purchases journal 
D)  general journal 
A)  cash receipts journal 
B)  sales journal 
C)  purchases journal 
D)  general journal

Question 3

What specific internal control procedure would detect the misplacement of a sales invoice after preparation and not mailed to the customer? The invoice was never found.

Accepted Answer

All docume

Question 4

A written customer purchase order is required to trigger the sales order system.

Accepted Answer

A) True 
 B)False

Question 5

How may an employee embezzle funds by issuing an unauthorized sales credit memo if the appropriate segregation of functions and authorization controls were not in place?

Accepted Answer

An employee who has access to incoming p

A remittance advice is

Which journal is not used in the revenue cycle?

What specific internal control procedure would detect the misplacement of a sales invoice after preparation and not mailed to the customer? The invoice was never found.

A written customer purchase order is required to trigger the sales order system.

How may an employee embezzle funds by issuing an unauthorized sales credit memo if the appropriate segregation of functions and authorization controls were not in place?

The Information System: An Accountant’s Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

General Ledger, Financial Reporting, and Management Reporting Systems

Database Management Systems

The REA Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls : Sarbanes-Oxley and IT Governance

IT Controls : Security and Access

IT Controls : Systems Development Program Changes and Application Controls

Filters

Exam 4: The Revenue Cycle

A remittance advice is

Which journal is not used in the revenue cycle?

What specific internal control procedure would detect the misplacement of a sales invoice after preparation and not mailed to the customer? The invoice was never found.

A written customer purchase order is required to trigger the sales order system.

How may an employee embezzle funds by issuing an unauthorized sales credit memo if the appropriate segregation of functions and authorization controls were not in place?

The Information System: An Accountant’s Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

General Ledger, Financial Reporting, and Management Reporting Systems

Database Management Systems

The REA Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls : Sarbanes-Oxley and IT Governance

IT Controls : Security and Access

IT Controls : Systems Development Program Changes and Application Controls

Filters