Question 1

Describe five threats in the production cycle and the applicable control procedures used to mitigate each threat.

Accepted Answer

Threat 1: Unauthorized transactions - Co

Question 2

What types of data are accumulated by cost accounting? What is the accountant's role in cost accounting?

Accepted Answer

There are four types of cost data accumu

Question 3

What is the main difference between MRP-II and JIT manufacturing systems?

Accepted Answer

A) The length of the planning horizon 
B) JIT uses long-term customer demand for planning purposes,but MRP-II uses short-term customer demand for planning purposes. 
C) MRP-II relies on EDI,but JIT does not. 
D) There are no significant differences between MRP-II and JIT. 
A) The length of the planning horizon 
B) JIT uses long-term customer demand for planning purposes,but MRP-II uses short-term customer demand for planning purposes. 
C) MRP-II relies on EDI,but JIT does not. 
D) There are no significant differences between MRP-II and JIT.

Question 4

Labor productivity is measured by the quantity produced divided by the labor time required to produce it.All other things held constant,an increase in labor productivity will increase throughput by

Accepted Answer

A) increasing productive capacity. 
B) increasing productive processing time. 
C) increasing yield. 
D) increasing all components of throughput. 
A) increasing productive capacity. 
B) increasing productive processing time. 
C) increasing yield. 
D) increasing all components of throughput.

Question 5

The threat of loss of data exposes the company to

Accepted Answer

A) the loss of assets. 
B) ineffective decision making. 
C) inefficient manufacturing. 
D) All of the above are correct. 
A) the loss of assets. 
B) ineffective decision making. 
C) inefficient manufacturing. 
D) All of the above are correct.

Question 6

MRP-II is to MRP,as lean manufacturing is to

Accepted Answer

A) EOQ. 
B) JIT. 
C) push manufacturing. 
D) reorder point. 
A) EOQ. 
B) JIT. 
C) push manufacturing. 
D) reorder point.

Question 7

How can CAD software help improve the efficiency and effectiveness of the product design process?

Accepted Answer

A) It can eliminate the costs associated with creating and destroying physical prototypes. 
B) It can simulate how new products will be manufactured. 
C) It can store all the data associated with all products. 
D) All of the above 
A) It can eliminate the costs associated with creating and destroying physical prototypes. 
B) It can simulate how new products will be manufactured. 
C) It can store all the data associated with all products. 
D) All of the above

Question 8

Which of the following is not a product design objective?

Accepted Answer

A) Design a product that meets customer requirements. 
B) Design a quality product. 
C) Minimize production costs. 
D) Make the design easy to track for cost accounting purposes. 
A) Design a product that meets customer requirements. 
B) Design a quality product. 
C) Minimize production costs. 
D) Make the design easy to track for cost accounting purposes.

Question 9

Why might an organization find it most beneficial to involve accountants in product design?

Accepted Answer

A) Because generally at least 65% of product costs are determined in the design stage and accountants can help minimize product costs 
B) Because accountants are generally able to improve the quality of new products 
C) Because involving accountants in product design boosts firm morale 
D) Because accountants are generally able to identify what consumers want in a new product 
A) Because generally at least 65% of product costs are determined in the design stage and accountants can help minimize product costs 
B) Because accountants are generally able to improve the quality of new products 
C) Because involving accountants in product design boosts firm morale 
D) Because accountants are generally able to identify what consumers want in a new product

Question 10

Yasamin Roshni owns and operates a small deli in Miami,Florida..She maintains a file that lists the steps required to make each of her famous subs.These step-by-step instructions are examples of a(n)

Accepted Answer

A) operations list. 
B) bill of materials. 
C) production order. 
D) materials requisition. 
A) operations list. 
B) bill of materials. 
C) production order. 
D) materials requisition.

Question 11

The acronym "RFP" stands for what?

Accepted Answer

A) Request for Project 
B) Request for Processing 
C) Request for Proposal 
D) Request for Purchase 
A) Request for Project 
B) Request for Processing 
C) Request for Proposal 
D) Request for Purchase

Question 12

The ________ is the production cycle document that specifies the quantity of each product to be produced and when production should begin.

Accepted Answer

A) receiving report 
B) bill of lading 
C) master production schedule 
D) operations list 
A) receiving report 
B) bill of lading 
C) master production schedule 
D) operations list

Question 13

Direct labor must be tracked and accounted for as part of the production process.Traditionally,direct labor was tracked using ________ but an AIS enhancement is to use ________ to record and track direct labor costs.

Accepted Answer

A) job-time tickets;coded identification cards 
B) move tickets;coded identification cards 
C) employee earnings records;job-time tickets 
D) time cards;electronic time entry terminals 
A) job-time tickets;coded identification cards 
B) move tickets;coded identification cards 
C) employee earnings records;job-time tickets 
D) time cards;electronic time entry terminals

Question 14

The cost of a product liability claim can be classified as a(n)

Accepted Answer

A) prevention cost. 
B) inspection cost. 
C) internal failure cost. 
D) external failure cost. 
A) prevention cost. 
B) inspection cost. 
C) internal failure cost. 
D) external failure cost.

Question 15

Which of the following controls can minimize the threat of theft of inventory?

Accepted Answer

A) The use of innovative performance metrics. 
B) The use of periodic physical counts of inventory and reconciliation of those counts to recorded quantities. 
C) The use of encryption. 
D) The use of production planning systems. 
A) The use of innovative performance metrics. 
B) The use of periodic physical counts of inventory and reconciliation of those counts to recorded quantities. 
C) The use of encryption. 
D) The use of production planning systems.

Describe five threats in the production cycle and the applicable control procedures used to mitigate each threat.

What types of data are accumulated by cost accounting? What is the accountant's role in cost accounting?

What is the main difference between MRP-II and JIT manufacturing systems?

Labor productivity is measured by the quantity produced divided by the labor time required to produce it.All other things held constant,an increase in labor productivity will increase throughput by

The threat of loss of data exposes the company to

MRP-II is to MRP,as lean manufacturing is to

How can CAD software help improve the efficiency and effectiveness of the product design process?

Which of the following is not a product design objective?

Why might an organization find it most beneficial to involve accountants in product design?

Yasamin Roshni owns and operates a small deli in Miami,Florida..She maintains a file that lists the steps required to make each of her famous subs.These step-by-step instructions are examples of a(n)

The acronym "RFP" stands for what?

The ________ is the production cycle document that specifies the quantity of each product to be produced and when production should begin.

Direct labor must be tracked and accounted for as part of the production process.Traditionally,direct labor was tracked using but an AIS enhancement is to use to record and track direct labor costs.

The cost of a product liability claim can be classified as a(n)

Which of the following controls can minimize the threat of theft of inventory?

Conceptual Foundations of Accounting Information Systems

Overview of Transaction Processing and Enterprise Resource Planning Systems

Systems Documentation Techniques

Relational Databases

Computer Fraud

Computer Fraud and Abuse Techniques

Control and Accounting Information Systems

Controls for Information Security

Confidentiality and Privacy Controls

Processing Integrity and Availability Controls

Auditing Computer-Based Information Systems

The Revenue Cycle: Sales to Cash Collections

The Expenditure Cycle: Purchasing to Cash Disbursements

The Human Resources Management and Payroll Cycle

General Ledger and Reporting System

Database Design Using the Rea Data Model

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, implementation, and Operation

Filters

Exam 14: The Production Cycle

Describe five threats in the production cycle and the applicable control procedures used to mitigate each threat.

What types of data are accumulated by cost accounting? What is the accountant's role in cost accounting?

What is the main difference between MRP-II and JIT manufacturing systems?

Labor productivity is measured by the quantity produced divided by the labor time required to produce it.All other things held constant,an increase in labor productivity will increase throughput by

The threat of loss of data exposes the company to

MRP-II is to MRP,as lean manufacturing is to

How can CAD software help improve the efficiency and effectiveness of the product design process?

Which of the following is not a product design objective?

Why might an organization find it most beneficial to involve accountants in product design?

Yasamin Roshni owns and operates a small deli in Miami,Florida..She maintains a file that lists the steps required to make each of her famous subs.These step-by-step instructions are examples of a(n)

The acronym "RFP" stands for what?

The ________ is the production cycle document that specifies the quantity of each product to be produced and when production should begin.

Direct labor must be tracked and accounted for as part of the production process.Traditionally,direct labor was tracked using ________ but an AIS enhancement is to use ________ to record and track direct labor costs.

The cost of a product liability claim can be classified as a(n)

Which of the following controls can minimize the threat of theft of inventory?

Conceptual Foundations of Accounting Information Systems

Overview of Transaction Processing and Enterprise Resource Planning Systems

Systems Documentation Techniques

Relational Databases

Computer Fraud

Computer Fraud and Abuse Techniques

Control and Accounting Information Systems

Controls for Information Security

Confidentiality and Privacy Controls

Processing Integrity and Availability Controls

Auditing Computer-Based Information Systems

The Revenue Cycle: Sales to Cash Collections

The Expenditure Cycle: Purchasing to Cash Disbursements

The Human Resources Management and Payroll Cycle

General Ledger and Reporting System

Database Design Using the Rea Data Model

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, implementation, and Operation

Filters

Direct labor must be tracked and accounted for as part of the production process.Traditionally,direct labor was tracked using but an AIS enhancement is to use to record and track direct labor costs.