Exam 13: The Accounts Payablecash Disbursements Apcdprocess

Input validity for ______________________________ is ensured by making sure that the invoice is for goods that were actually ordered and actually received.

A true voucher system requires that all expenditures for whatever purpose and in excess of a certain dollar amount be formally approved for payment before they can be paid.

The control plan ______________________________ includes an aging of open vouchers / accounts payable records that is produced and reviewed on a regular basis in order to ensure that there is an adequate cash reserve to make required payments.

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

Usually the theft of cash entails ________________ or fraudulent _________________________.

In a voucher system,the data flow between the originating department and the process "prepare disbursement voucher" typically is:

The cash disbursements event data shows,in alphabetical order,the details of each cash payment made.

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

Frauds in the cash disbursement function:

In the ER diagram of the AP/CD process,VALID_INVOICES are received from the purchasing department.

The vendor invoice triggers the "establish payable" process.

Which of the following statements regarding evaluated receipt settlement (ERS)is false?

The notification of an obligation to pay a vendor for merchandise that was ordered and received is known as a(n)______________________________.

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

Payments not typically supported by invoices include:

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?

The following is a list of 10 control plans. Required: Listed below are ten system failures that indicate weaknesses in control.On the answer line to the left of each description,insert the capital letter (from the list above)of the best control plan to address the system deficiency described.A letter should be used only once.

A true ______________________________ system requires that all expenditures be formally approved for payment and be recorded as a payable before they can be paid.

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

Which of the following process bubbles would you not expect to see in the logical DFD for an AP/CD process?