Question 1

The control plan tickler file of payments due, is directed primarily at which of the following control goals?

Accepted Answer

A)  update completeness 
B)  input validity 
C)  input accuracy 
D)  input completeness 
A)  update completeness 
B)  input validity 
C)  input accuracy 
D)  input completeness

Question 2

The duties of the cashier are segregated from the treasurer to protect the cash resource.

Accepted Answer

A) True 
 B)False

Question 3

The typical horizontal flows of information in an accounts payable/cash disbursements process might include all of the following except:

Accepted Answer

A)  an invoice is received from a vendor 
B)  the paid voucher is returned to the accounts payable department 
C)  an approved disbursement voucher is sent to the cashier 
D)  a copy of a receiving report is sent to the cashier 
A)  an invoice is received from a vendor 
B)  the paid voucher is returned to the accounts payable department 
C)  an approved disbursement voucher is sent to the cashier 
D)  a copy of a receiving report is sent to the cashier

Question 4

The ______________________________ master data store is a repository of all unpaid vendor invoices.

Accepted Answer

The answer of The ______________________________ master data store is a...

Question 5

Frauds in the cash disbursement function:

Accepted Answer

A)  are less direct and more subtle than purchasing and accounts payable frauds 
B)  have decreased significantly due to a decrease in the number of checks being written 
C)  can be decreased or prevented by using digitally signed electronic payments 
D)  all of the above 
A)  are less direct and more subtle than purchasing and accounts payable frauds 
B)  have decreased significantly due to a decrease in the number of checks being written 
C)  can be decreased or prevented by using digitally signed electronic payments 
D)  all of the above

Question 6

The AP application matches invoices, quantities, prices and terms when it performs the control plan:

Accepted Answer

A)  independent validation of vendor invoices 
B)  match invoice, purchase order, and receiving report 
C)  independent authorization to make payment 
D)  reconcile input and output batch totals 
A)  independent validation of vendor invoices 
B)  match invoice, purchase order, and receiving report 
C)  independent authorization to make payment 
D)  reconcile input and output batch totals

Question 7

Evaluated receipt settlement (ERS) is a process by which an organization pays for a purchase on the basis of the goods receipt.

Accepted Answer

A) True 
 B)False

Question 8

Within the make payment process, the three sub-processes are "Prepare proposed payments," "Select and record payments," and "Issue and record disbursements."

Accepted Answer

A) True 
 B)False

Question 9

A control plan to ensure input accuracy in payables processing is:

Accepted Answer

A)  requisition confirmation to originating department 
B)  match invoice, purchase order, and receiving report 
C)  tickler file of payments due 
D)  independent authorization to make payment 
A)  requisition confirmation to originating department 
B)  match invoice, purchase order, and receiving report 
C)  tickler file of payments due 
D)  independent authorization to make payment

Question 10

When the vendor payment is made, the general ledger is updated for the cash disbursement.

Accepted Answer

A) True 
 B)False

Question 11

The ______________________________ triggers the "make payment" process.

Accepted Answer

payment du

Question 12

A disbursement voucher is designed to reflect formal approval of the voucher for payment and to provide such added data as the account distribution and the amounts to be debited.

Accepted Answer

A) True 
 B)False

Question 13

The trigger for either a true voucher process or a nonvoucher process is a payment request.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following activities would not occur when an inventory manager decides to return merchandise to a vendor?

Accepted Answer

A)  the accounts payable department is notified 
B)  a credit memorandum is issued to the vendor 
C)  the warehouse is instructed to release the merchandise to the shipping department 
D)  a debit memorandum is prepared 
A)  the accounts payable department is notified 
B)  a credit memorandum is issued to the vendor 
C)  the warehouse is instructed to release the merchandise to the shipping department 
D)  a debit memorandum is prepared

Question 15

The electronic invoicing and payment (EIPP) system for the B2B environment is similar to the electronic bill presentment and payment (EBPP) system for the B2C environment.

Accepted Answer

A) True 
 B)False

Question 16

In a relational table for PURCHASE_RECEIPTS, the primary key would be the receipt number (Rec_No).

Accepted Answer

A) True 
 B)False

Question 17

The vendor invoice triggers the "establish payable" process.

Accepted Answer

A) True 
 B)False

Question 18

To ensure that only authorized payments are made, there should be ______________________________ whereby the accounts payable records on which the payment is based should created by an entity other than the entity that executes the payment.

Accepted Answer

independen

Question 19

The AP/CD process handles the repetitive work routines of:

Accepted Answer

A)  cashier 
B)  purchasing 
C)  Receiving 
D)  all of the above 
A)  cashier 
B)  purchasing 
C)  Receiving 
D)  all of the above

Question 20

Which of the following statements regarding e-payment technologies is true?

Accepted Answer

A)  an advantage to the payer is that float is eliminated 
B)  the use of EDI for payments continues to decline in use 
C)  e-payments are settled through the ACH network, by wire transfer, or by debit or credit card 
D)  the cost of paying an invoice is reduced by about 50% when using e-payments 
A)  an advantage to the payer is that float is eliminated 
B)  the use of EDI for payments continues to decline in use 
C)  e-payments are settled through the ACH network, by wire transfer, or by debit or credit card 
D)  the cost of paying an invoice is reduced by about 50% when using e-payments

The control plan tickler file of payments due, is directed primarily at which of the following control goals?

The duties of the cashier are segregated from the treasurer to protect the cash resource.

The typical horizontal flows of information in an accounts payable/cash disbursements process might include all of the following except:

The ______________________________ master data store is a repository of all unpaid vendor invoices.

Frauds in the cash disbursement function:

The AP application matches invoices, quantities, prices and terms when it performs the control plan:

Evaluated receipt settlement (ERS) is a process by which an organization pays for a purchase on the basis of the goods receipt.

Within the make payment process, the three sub-processes are "Prepare proposed payments," "Select and record payments," and "Issue and record disbursements."

A control plan to ensure input accuracy in payables processing is:

When the vendor payment is made, the general ledger is updated for the cash disbursement.

The ______________________________ triggers the "make payment" process.

A disbursement voucher is designed to reflect formal approval of the voucher for payment and to provide such added data as the account distribution and the amounts to be debited.

The trigger for either a true voucher process or a nonvoucher process is a payment request.

Which of the following activities would not occur when an inventory manager decides to return merchandise to a vendor?

The electronic invoicing and payment (EIPP) system for the B2B environment is similar to the electronic bill presentment and payment (EBPP) system for the B2C environment.

In a relational table for PURCHASE_RECEIPTS, the primary key would be the receipt number (Rec_No).

The vendor invoice triggers the "establish payable" process.

To ensure that only authorized payments are made, there should be ______________________________ whereby the accounts payable records on which the payment is based should created by an entity other than the entity that executes the payment.

The AP/CD process handles the repetitive work routines of:

Which of the following statements regarding e-payment technologies is true?

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oes Process

The Billingaccounts Receivablecash Receipts Barcr Process

The Purchasing Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

The General Ledger and Business Reporting GLBR Process

Acquiring and Implementing Accounting Information Systems

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Exam 13: The Accounts Payablecash Disbursements Apcd Process

The control plan tickler file of payments due, is directed primarily at which of the following control goals?

The duties of the cashier are segregated from the treasurer to protect the cash resource.

The typical horizontal flows of information in an accounts payable/cash disbursements process might include all of the following except:

The ______________________________ master data store is a repository of all unpaid vendor invoices.

Frauds in the cash disbursement function:

The AP application matches invoices, quantities, prices and terms when it performs the control plan:

Evaluated receipt settlement (ERS) is a process by which an organization pays for a purchase on the basis of the goods receipt.

Within the make payment process, the three sub-processes are "Prepare proposed payments," "Select and record payments," and "Issue and record disbursements."

A control plan to ensure input accuracy in payables processing is:

When the vendor payment is made, the general ledger is updated for the cash disbursement.

The ______________________________ triggers the "make payment" process.

A disbursement voucher is designed to reflect formal approval of the voucher for payment and to provide such added data as the account distribution and the amounts to be debited.

The trigger for either a true voucher process or a nonvoucher process is a payment request.

Which of the following activities would not occur when an inventory manager decides to return merchandise to a vendor?

The electronic invoicing and payment (EIPP) system for the B2B environment is similar to the electronic bill presentment and payment (EBPP) system for the B2C environment.

In a relational table for PURCHASE_RECEIPTS, the primary key would be the receipt number (Rec_No).

The vendor invoice triggers the "establish payable" process.

To ensure that only authorized payments are made, there should be ______________________________ whereby the accounts payable records on which the payment is based should created by an entity other than the entity that executes the payment.

The AP/CD process handles the repetitive work routines of:

Which of the following statements regarding e-payment technologies is true?

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oes Process

The Billingaccounts Receivablecash Receipts Barcr Process

The Purchasing Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

The General Ledger and Business Reporting GLBR Process

Acquiring and Implementing Accounting Information Systems

Filters