Question 1

The VP of finance usually has the cashier and the controller directly reporting to him (her).

Accepted Answer

A) True 
 B)False

Question 2

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 3

In an entity-relationship (E-R)diagram for the accounts payable/cash disbursements process,you would expect that the words sent to would appear in the diamond showing the relationship between:

Accepted Answer

A)  VENDORS and INVENTORY_RECEIPTS 
B)  VENDORS and VENDOR_INVOICES 
C)  VENDORS and CASH_DISBURSEMENTS 
D)  CASH_DISBURSEMENTS and INVENTORY_RECEIPTS 
A)  VENDORS and INVENTORY_RECEIPTS 
B)  VENDORS and VENDOR_INVOICES 
C)  VENDORS and CASH_DISBURSEMENTS 
D)  CASH_DISBURSEMENTS and INVENTORY_RECEIPTS

Question 4

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 5

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 6

The ______________________________ department is responsible for processing vendor invoices,preparing disbursement vouchers,and recording purchase and disbursement transactions.

Accepted Answer

The answer of The ______________________________ department is responsible for processing...

Question 7

Which document typically notifies the purchaser of his or her obligation to pay?

Accepted Answer

A)  vendor packing slip 
B)  receiving report 
C)  acceptance report 
D)  vendor invoice 
A)  vendor packing slip 
B)  receiving report 
C)  acceptance report 
D)  vendor invoice

Question 8

In the flowchart for the AP/DC process the symbol below represents the enterprise database.

Accepted Answer

A) True 
 B)False

Question 9

Which control is most likely to address the goal of input completeness?

Accepted Answer

A)  agreement of run-to-run totals 
B)  digital signature 
C)  independent validation of vendor invoice 
D)  tickler file of open purchase orders and receiving reports 
A)  agreement of run-to-run totals 
B)  digital signature 
C)  independent validation of vendor invoice 
D)  tickler file of open purchase orders and receiving reports

Question 10

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 11

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:
   
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 12

The ______________________________ data shows,in chronological sequence,the details of each cash payment made.

Accepted Answer

cash disbu

Question 13

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:

Accepted Answer

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

Question 14

The flowchart below is the accounts payable/cash disbursements process presented in Chapter 13,but with certain items omitted.In the flowchart,each omission is indicated by a capital letter (A through I).Jumbled lists of the omitted items are as follows:
   
Required:
Complete the flowchart TB Figure 13.11 by placing one of the numbers,1 through 9 from the above lists,to match the letters showing the missing items.

Accepted Answer

The answer of The flowchart below is the accounts payable/cash...

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

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 17

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 18

______________________________ systems are B2B systems that combine e-invoicing and e-payment processes to send invoices to electronic invoices to customers and to receive electronic payments.

Accepted Answer

Electronic invoice p

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

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

The VP of finance usually has the cashier and the controller directly reporting to him (her).

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

In an entity-relationship (E-R)diagram for the accounts payable/cash disbursements process,you would expect that the words sent to would appear in the diamond showing the relationship between:

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.

Information for evaluating vendor performance normally would reside on the:

The ______________________________ department is responsible for processing vendor invoices,preparing disbursement vouchers,and recording purchase and disbursement transactions.

Which document typically notifies the purchaser of his or her obligation to pay?

In the flowchart for the AP/DC process the symbol below represents the enterprise database.

Which control is most likely to address the goal of input completeness?

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

The ______________________________ data shows,in chronological sequence,the details of each cash payment made.

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

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

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

______________________________ systems are B2B systems that combine e-invoicing and e-payment processes to send invoices to electronic invoices to customers and to receive electronic payments.

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

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

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 Oesprocess

The Billingaccounts Receivablecash Receipts Barcrprocess

The Purchasing Process

The Human Resources Process Hrmanagement and Payroll Processes

Integrated Production Processes IPP

The General Ledger and Business Reporting Glbrprocess

Acquiring and Implementing Accounting Information Systems

Filters

Exam 13: The Accounts Payablecash Disbursements Apcdprocess

The VP of finance usually has the cashier and the controller directly reporting to him (her).

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

In an entity-relationship (E-R)diagram for the accounts payable/cash disbursements process,you would expect that the words sent to would appear in the diamond showing the relationship between:

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.

Information for evaluating vendor performance normally would reside on the:

The ______________________________ department is responsible for processing vendor invoices,preparing disbursement vouchers,and recording purchase and disbursement transactions.

Which document typically notifies the purchaser of his or her obligation to pay?

In the flowchart for the AP/DC process the symbol below represents the enterprise database.

Which control is most likely to address the goal of input completeness?

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

The ______________________________ data shows,in chronological sequence,the details of each cash payment made.

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

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

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

______________________________ systems are B2B systems that combine e-invoicing and e-payment processes to send invoices to electronic invoices to customers and to receive electronic payments.

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

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

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 Oesprocess

The Billingaccounts Receivablecash Receipts Barcrprocess

The Purchasing Process

The Human Resources Process Hrmanagement and Payroll Processes

Integrated Production Processes IPP

The General Ledger and Business Reporting Glbrprocess

Acquiring and Implementing Accounting Information Systems

Filters

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