Question 1

It is difficult to independently validate the vendor invoice if we do not segregate purchasing, receiving, and accounts payable.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following documents would be matched with the vendor invoice to ensure that the purchase was authorized (i.e., to ensure input validity)?

Accepted Answer

A)  receiving report 
B)  acceptance report 
C)  purchase order 
D)  vendor packing slip 
A)  receiving report 
B)  acceptance report 
C)  purchase order 
D)  vendor packing slip

Question 3

In an AP/CD process "establish payable" would normally be triggered by:

Accepted Answer

A)  vendor invoice 
B)  a purchase order 
C)  a copy of the purchase order sent to the inventory process 
D)  a vendor acknowledgement 
A)  vendor invoice 
B)  a purchase order 
C)  a copy of the purchase order sent to the inventory process 
D)  a vendor acknowledgement

Question 4

The typical AP/CD process would capture and record data related to the day-to-day operations of all of the following departments except:

Accepted Answer

A)  shipping 
B)  cashier 
C)  receiving 
D)  activities for all of the above are captured and recorded by the AP/CD process. 
A)  shipping 
B)  cashier 
C)  receiving 
D)  activities for all of the above are captured and recorded by the AP/CD process.

Question 5

Who usually authorizes a payment?

Accepted Answer

A)  the controller 
B)  the purchasing manager 
C)  a purchasing agent 
D)  the treasurer 
A)  the controller 
B)  the purchasing manager 
C)  a purchasing agent 
D)  the treasurer

Question 6

The Level 0 diagram of the AP/CD Process contains the two process bubbles of ______________________________ and ______________________________.

Accepted Answer

establish payable, m

Question 7

Which of the following managers is most likely to report to the controller?

Accepted Answer

A)  accounts payable department manager 
B)  cashier 
C)  purchasing department manager 
D)  receiving department manager 
A)  accounts payable department manager 
B)  cashier 
C)  purchasing department manager 
D)  receiving department manager

Question 8

Information for evaluating vendor performance normally would reside on the:

Accepted Answer

A)  accounts payable master data 
B)  vendor master data 
C)  vouchers payable master data 
D)  purchase order master data 
A)  accounts payable master data 
B)  vendor master data 
C)  vouchers payable master data 
D)  purchase order master data

Question 9

Below is a narrative for the "Make payment" portion (bubble 2.0) of the accounts payable/cash disbursements process described in Chapter 13.
Narrative Description
The payment process begins with the periodic preparation of a list of payments that might be made at this time (bubble 2.1). The selection of items for this list is based on payment due dates and terms that may indicate a discount can be taken for a payment at this time. The proposed list is reviewed and amended (bubble 2.2) to add additional invoices that are not due for payment yet but that can be consolidated with other payments being made to a vendor. Proposed payments may be removed from the list if there are insufficient funds or if payments to a vendor are on hold.
Bubble 2.3 depicts the process of preparing the disbursement, which is equal to the amount of the invoice less any discount taken. The payment is recorded by:
 *Marlang the invaice as paid an the accaunts payable master data.
*Maling an enty in the cash disbursements event data 5 tore.
*Sending payment date to the general ledger where an entry is made to reflect the payment. Required:
Using the DFD in TB Figure 13.7 and the narrative description above, identify the words that belong in items 1 to 9 of Diagram 2.0 (TB Figure 13.8).

Accepted Answer

NOTE TO INSTRUCTORS: This question repea

Question 10

Below is a narrative for the "Make payment" portion (bubble 2.0) of the accounts payable/cash disbursements process described in Chapter 13.
Narrative Description
The payment process begins with the periodic preparation of a list of payments that might be made at this time (bubble 2.1). The selection of items for this list is based on payment due dates and terms that may indicate a discount can be taken for a payment at this time. The proposed list is reviewed and amended (bubble 2.2) to add additional invoices that are not due for payment yet but that can be consolidated with other payments being made to a vendor. Proposed payments may be removed from the list if there are insufficient funds or if payments to a vendor are on hold.
Bubble 2.3 depicts the process of preparing the disbursement, which is equal to the amount of the invoice less any discount taken. The payment is recorded by:
 *Marlang the invaice as paid an the accaunts payable master data.
*Maling an enty in the cash disbursements event data 5 tore.
*Sending payment date to the general ledger where an entry is made to reflect the payment. Required:
From the DFD (TB Figure 13.5) and the narrative description above, explode bubble 2.0 into a lower-level diagram showing the details of that process.

Accepted Answer

The answer of Below is a narrative for the "Make...

Question 11

The figure below shows a portion of the horizontal perspective of an accounts payable/cash disbursements (AP/CD) process. The following functional titles (for the AP/CD process organizational structures and the entities with which the AP/CD process interacts) and information flows, depicted as documents, generated or captured by the AP/CD process, have been omitted.
     Required:
Complete TB Figure 13.1 by inserting the letter corresponding to the:
 (a) functional titles inta the baxes
(b) information flow descriptions in the document symbols

Accepted Answer

The answer of The figure below shows a portion of...

Question 12

In the Level 0 DFD for an AP/CD process, a data flow called "vendor invoice" most likely would be sent by the vendor to which of the following processes?

Accepted Answer

A)  establish payable 
B)  make payment 
C)  order inventory 
D)  none of the above 
A)  establish payable 
B)  make payment 
C)  order inventory 
D)  none of the above

Question 13

Which of the following is designed to reflect the formal approval of the voucher for payment?

Accepted Answer

A)  a vendor invoice 
B)  an RFQ 
C)  a payment voucher 
D)  a disbursement voucher 
A)  a vendor invoice 
B)  an RFQ 
C)  a payment voucher 
D)  a disbursement voucher

Question 14

In an AP/CD process, a process "make payment" normally would be triggered by the data flow:

Accepted Answer

A)  purchase order 
B)  vendor acknowledgement 
C)  vendor packing slip 
D)  payment due date information 
A)  purchase order 
B)  vendor acknowledgement 
C)  vendor packing slip 
D)  payment due date information

Question 15

Fraud abuses in the AP/CD process usually entail creating phony ______________________________ or submitting fictitious _________.

Accepted Answer

The answer of Fraud abuses in the AP/CD process usually...

Question 16

A control plan that helps ensure the security of resources within the AP/CD process is:

Accepted Answer

A)  requisition confirmation to originating department 
B)  approve vendor selection 
C)  independent validation of vendor invoice 
D)  independent authorization to make payment 
A)  requisition confirmation to originating department 
B)  approve vendor selection 
C)  independent validation of vendor invoice 
D)  independent authorization to make payment

Question 17

Spear phishing is a type of phishing attack that is sent to a wide variety of persons. The e-mail appears to be coming from an individual or organization that the recipient recognizes and from whom they normally receive e-mails.

Accepted Answer

A) True 
 B)False

Question 18

In a typical, efficient AP/CD process, you would expect that "validating" a vendor invoice might include all of the following steps except:

Accepted Answer

A)  having a copy of the invoice approved by the purchasing manager 
B)  comparing the invoice with a copy of the purchase order 
C)  comparing the invoice with a copy of the receiving report 
D)  checking the invoice for mathematical accuracy 
A)  having a copy of the invoice approved by the purchasing manager 
B)  comparing the invoice with a copy of the purchase order 
C)  comparing the invoice with a copy of the receiving report 
D)  checking the invoice for mathematical accuracy

Question 19

In the ER diagram for AP/CD process, CASH_DISBURSEMENTS are prepared by EMPLOYEES (Treasury Employees).

Accepted Answer

A) True 
 B)False

Question 20

The purchase order triggers the make payment process.

Accepted Answer

A) True 
 B)False

It is difficult to independently validate the vendor invoice if we do not segregate purchasing, receiving, and accounts payable.

Which of the following documents would be matched with the vendor invoice to ensure that the purchase was authorized (i.e., to ensure input validity)?

In an AP/CD process "establish payable" would normally be triggered by:

The typical AP/CD process would capture and record data related to the day-to-day operations of all of the following departments except:

Who usually authorizes a payment?

The Level 0 diagram of the AP/CD Process contains the two process bubbles of and .

Which of the following managers is most likely to report to the controller?

Information for evaluating vendor performance normally would reside on the:

In the Level 0 DFD for an AP/CD process, a data flow called "vendor invoice" most likely would be sent by the vendor to which of the following processes?

Which of the following is designed to reflect the formal approval of the voucher for payment?

In an AP/CD process, a process "make payment" normally would be triggered by the data flow:

Fraud abuses in the AP/CD process usually entail creating phony ______________________ or submitting fictitious _.

A control plan that helps ensure the security of resources within the AP/CD process is:

Spear phishing is a type of phishing attack that is sent to a wide variety of persons. The e-mail appears to be coming from an individual or organization that the recipient recognizes and from whom they normally receive e-mails.

In a typical, efficient AP/CD process, you would expect that "validating" a vendor invoice might include all of the following steps except:

In the ER diagram for AP/CD process, CASH_DISBURSEMENTS are prepared by EMPLOYEES (Treasury Employees).

The purchase order triggers the make payment process.

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

Exam 13: The Accounts Payablecash Disbursements Apcd Process

It is difficult to independently validate the vendor invoice if we do not segregate purchasing, receiving, and accounts payable.

Which of the following documents would be matched with the vendor invoice to ensure that the purchase was authorized (i.e., to ensure input validity)?

In an AP/CD process "establish payable" would normally be triggered by:

The typical AP/CD process would capture and record data related to the day-to-day operations of all of the following departments except:

Who usually authorizes a payment?

The Level 0 diagram of the AP/CD Process contains the two process bubbles of ______________________________ and ______________________________.

Which of the following managers is most likely to report to the controller?

Information for evaluating vendor performance normally would reside on the:

In the Level 0 DFD for an AP/CD process, a data flow called "vendor invoice" most likely would be sent by the vendor to which of the following processes?

Which of the following is designed to reflect the formal approval of the voucher for payment?

In an AP/CD process, a process "make payment" normally would be triggered by the data flow:

Fraud abuses in the AP/CD process usually entail creating phony ______________________________ or submitting fictitious _________.

A control plan that helps ensure the security of resources within the AP/CD process is:

Spear phishing is a type of phishing attack that is sent to a wide variety of persons. The e-mail appears to be coming from an individual or organization that the recipient recognizes and from whom they normally receive e-mails.

In a typical, efficient AP/CD process, you would expect that "validating" a vendor invoice might include all of the following steps except:

In the ER diagram for AP/CD process, CASH_DISBURSEMENTS are prepared by EMPLOYEES (Treasury Employees).

The purchase order triggers the make payment process.

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

The Level 0 diagram of the AP/CD Process contains the two process bubbles of and .

Fraud abuses in the AP/CD process usually entail creating phony ______________________ or submitting fictitious _.