Question 1

Match between columns
                        Premises:  Has authority to request the purchase of needed items
 Prepares a control total of checks paid and sends it to general ledger
 Reconciles bank statements
 Performs final matching of documents to authorize payments
 Computes gross pay, deductions, and net pay
 Counts and inspects incoming goods
 Has responsibility for distributing employee payroll checks
 Maintains clock cards and reconciles them to job time summary sheets
 Authorizes new employees and their pay rates and payroll deductions
 Frequently uses request-for-quotation forms to obtain bids

Accepted Answer

The Answer of Cash disbursements and Paymaster and Purchasing and is...

Question 2

Match between columns
                        Premises:  Purchase requisition
 Procurement
 Approved vendor list
 Blind count
 Purchase order
 Attribute rating
 Request for quotation
 Receiving report
 Invoice verification
 Voucher package

Accepted Answer

The Answer of Counters in receiving do not have access is...

Question 3

The payroll business process is a subset of procurement and therefore,falls outside the control of Sarbanes-Oxley.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is not a major control feature of the cash disbursements business process?

Accepted Answer

A)  Use of a voucher system 
B)  Use of an imprest fund 
C)  An independent bank reconciliation 
D)  Separation of approval from actual payment 
A)  Use of a voucher system 
B)  Use of an imprest fund 
C)  An independent bank reconciliation 
D)  Separation of approval from actual payment

Question 5

The primary objective of a voucher system is to

Accepted Answer

A)  sign checks. 
B)  review cash payments. 
C)  record liabilities. 
D)  reconcile the vendor subsidiary ledger to the control account. 
A)  sign checks. 
B)  review cash payments. 
C)  record liabilities. 
D)  reconcile the vendor subsidiary ledger to the control account.

Question 6

Vouchers themselves can take several forms,and the form of the voucher itself is not significant.

Accepted Answer

A) True 
 B)False

Question 7

ERP can check to see whether a contract exists with a vendor to fill the requirements of a purchase requisition.If no vendor is available,ERP will

Accepted Answer

A)  prepare a request for quotation. 
B)  prepare a quotation. 
C)  select an appropriate vendor. 
D)  issue a warning diagnostic to the user about the situation. 
A)  prepare a request for quotation. 
B)  prepare a quotation. 
C)  select an appropriate vendor. 
D)  issue a warning diagnostic to the user about the situation.

Question 8

The travel expense component of the ERP HR-PA does not support HR recruitment efforts.

Accepted Answer

A) True 
 B)False

Question 9

All eight documents in the SAP ERP Materials Management module are used each time an item is purchased.

Accepted Answer

A) True 
 B)False

Question 10

The key to the success of the attribute rating approach to vendor selection is

Accepted Answer

A)  attributes must be identified and listed. 
B)  a weight must be assigned to each identified attribute. 
C)  individual evaluators should rank attributes independently of each other. 
D)  attribute numerical rankings should be multiplied by their appropriate weights. 
A)  attributes must be identified and listed. 
B)  a weight must be assigned to each identified attribute. 
C)  individual evaluators should rank attributes independently of each other. 
D)  attribute numerical rankings should be multiplied by their appropriate weights.

Question 11

A code is not used in ERP master records to identify a(n)

Accepted Answer

A)  plant. 
B)  accounting unit. 
C)  specific invoice. 
D)  purchasing organization. 
A)  plant. 
B)  accounting unit. 
C)  specific invoice. 
D)  purchasing organization.

Question 12

The department or function that is responsible for selecting a vendor to order materials from is

Accepted Answer

A)  purchasing. 
B)  individual departments requesting the material. 
C)  requisitioning (stores). 
D)  sales. 
A)  purchasing. 
B)  individual departments requesting the material. 
C)  requisitioning (stores). 
D)  sales.

Question 13

An outline agreement contains line items.

Accepted Answer

A) True 
 B)False

Question 14

The best way to prevent improper buyer-vendor relationships is to

Accepted Answer

A)  separate the purchasing and receiving functions. 
B)  have formal written policies and procedures over procurement. 
C)  have cash disbursements report to the treasurer. 
D)  permit only purchasing supervisors to select vendors. 
A)  separate the purchasing and receiving functions. 
B)  have formal written policies and procedures over procurement. 
C)  have cash disbursements report to the treasurer. 
D)  permit only purchasing supervisors to select vendors.

Question 15

Among the following pair of functions,which pair represents the most serious internal control weakness when the duties are performed by the same individual?

Accepted Answer

A)  Purchasing and verification of vendor invoices 
B)  Check signing and cancellation of voucher documentation 
C)  Cash disbursement and verification of vendor invoices 
D)  Physical handling of incoming merchandise and preparation of receiving reports 
A)  Purchasing and verification of vendor invoices 
B)  Check signing and cancellation of voucher documentation 
C)  Cash disbursement and verification of vendor invoices 
D)  Physical handling of incoming merchandise and preparation of receiving reports

Question 16

The following ten items describe positions or departments related to procurement and human resource business processes.Listed below are ten positions or departments:
A.Cash disbursements
B.Paymaster
C.Purchasing
D.Receiving
E.Accounts Payable
F.Payroll
G.Personnel
H.Timekeeping
I.Internal audit
J.Stores
Required: Next to each number,write the letter of the answer representing the department or position described.
________ 1.Has authority to request the purchase of needed items
________ 2.Prepares a control total of checks paid and sends it to general ledger
________ 3.Reconciles bank statements
________ 4.Performs final matching of documents to authorize payments
________ 5.Computes gross pay,deductions,and net pay
________ 6.Counts and inspects incoming goods
________ 7.Has responsibility for distributing employee payroll checks
________ 8.Maintains clock cards and reconciles them to job time summary sheets
________ 9.Authorizes new employees and their pay rates and payroll deductions
________ 10.Frequently uses request-for-quotation forms to obtain bids

Accepted Answer

1.J,2.A,3.

Question 17

The function responsible for forwarding voucher checks directly to payees is

Accepted Answer

A)  cash disbursements. 
B)  accounts payable. 
C)  internal audit. 
D)  purchasing. 
A)  cash disbursements. 
B)  accounts payable. 
C)  internal audit. 
D)  purchasing.

Question 18

How does ERP's materials management module assist in vendor selection?

Accepted Answer

A)  It links the quotation documents with the requisition. 
B)  It downloads product information from the vendor's system. 
C)  It provides a 100-point scoring system to evaluate vendors. 
D)  It sends rejection letters to vendors whose bids are not accepted. 
A)  It links the quotation documents with the requisition. 
B)  It downloads product information from the vendor's system. 
C)  It provides a 100-point scoring system to evaluate vendors. 
D)  It sends rejection letters to vendors whose bids are not accepted.

Question 19

It is common for companies to configure their systems to automatically issue purchase orders for purchase requisitions meeting certain criteria.

Accepted Answer

A) True 
 B)False

Question 20

In ERP,human resource object types are identified with a one or two letter identifier.The code for the object Employee is

Accepted Answer

A)  E. 
B)  EE. 
C)  P. 
D)  W. 
A)  E. 
B)  EE. 
C)  P. 
D)  W.

The payroll business process is a subset of procurement and therefore,falls outside the control of Sarbanes-Oxley.

Which of the following is not a major control feature of the cash disbursements business process?

The primary objective of a voucher system is to

Vouchers themselves can take several forms,and the form of the voucher itself is not significant.

ERP can check to see whether a contract exists with a vendor to fill the requirements of a purchase requisition.If no vendor is available,ERP will

The travel expense component of the ERP HR-PA does not support HR recruitment efforts.

All eight documents in the SAP ERP Materials Management module are used each time an item is purchased.

The key to the success of the attribute rating approach to vendor selection is

A code is not used in ERP master records to identify a(n)

The department or function that is responsible for selecting a vendor to order materials from is

An outline agreement contains line items.

The best way to prevent improper buyer-vendor relationships is to

Among the following pair of functions,which pair represents the most serious internal control weakness when the duties are performed by the same individual?

The function responsible for forwarding voucher checks directly to payees is

How does ERP's materials management module assist in vendor selection?

It is common for companies to configure their systems to automatically issue purchase orders for purchase requisitions meeting certain criteria.

In ERP,human resource object types are identified with a one or two letter identifier.The code for the object Employee is

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Systems Techniques and Documentation

Ebusiness and Ecommerce

Transaction Processing and the Internal Control Process

Fraud Examination and Fraud Management

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Exam 9: Procurement and Human Resources Business Processes

The payroll business process is a subset of procurement and therefore,falls outside the control of Sarbanes-Oxley.

Which of the following is not a major control feature of the cash disbursements business process?

The primary objective of a voucher system is to

Vouchers themselves can take several forms,and the form of the voucher itself is not significant.

ERP can check to see whether a contract exists with a vendor to fill the requirements of a purchase requisition.If no vendor is available,ERP will

The travel expense component of the ERP HR-PA does not support HR recruitment efforts.

All eight documents in the SAP ERP Materials Management module are used each time an item is purchased.

The key to the success of the attribute rating approach to vendor selection is

A code is not used in ERP master records to identify a(n)

The department or function that is responsible for selecting a vendor to order materials from is

An outline agreement contains line items.

The best way to prevent improper buyer-vendor relationships is to

Among the following pair of functions,which pair represents the most serious internal control weakness when the duties are performed by the same individual?

The function responsible for forwarding voucher checks directly to payees is

How does ERP's materials management module assist in vendor selection?

It is common for companies to configure their systems to automatically issue purchase orders for purchase requisitions meeting certain criteria.

In ERP,human resource object types are identified with a one or two letter identifier.The code for the object Employee is

Accounting Information Systems: An Overview

Systems Techniques and Documentation

Ebusiness and Ecommerce

Transaction Processing and the Internal Control Process

Fraud Examination and Fraud Management

Information Systems Security

Electronic Data Processing Systems

Revenue Cycle Processes

The Production Business Process

Systems Planning, analysis, and Design

Systems Project Management, implementation, operation, control

Data Management Concepts

Auditing Information Technology

Filters