Question 1

Accounts payable

Accepted Answer

A)  signs paychecks 
B)  prepares the payroll voucher 
C)  reconciles time cards and employee records 
D)  distributes paychecks to employees 
A)  signs paychecks 
B)  prepares the payroll voucher 
C)  reconciles time cards and employee records 
D)  distributes paychecks to employees

Question 2

The document that captures the total amount of time that individual workers spend on each production job is called a

Accepted Answer

A)  time card 
B)  job ticket 
C)  personnel action form 
D)  labor distribution form 
A)  time card 
B)  job ticket 
C)  personnel action form 
D)  labor distribution form

Question 3

Most payroll systems for mid-size firms use real-time data processing.

Accepted Answer

A) True 
 B)False

Question 4

Inventory control performs the formal record keeping function for fixed assets.

Accepted Answer

A) True 
 B)False

Question 5

Which department is responsible for approving changes in pay rates for employees?

Accepted Answer

A)  payroll 
B)  treasurer 
C)  personnel 
D)  cash disbursements 
A)  payroll 
B)  treasurer 
C)  personnel 
D)  cash disbursements

Question 6

Which of the following is not a reasonable control for fixed assets?

Accepted Answer

A)  Proper authorization is required for acquisition and disposal of fixed assets. 
B)  Fixed asset records show the location of each asset. 
C)  Fully depreciated assets are immediately disposed of. 
D)  Depreciation policies are in writing. 
A)  Proper authorization is required for acquisition and disposal of fixed assets. 
B)  Fixed asset records show the location of each asset. 
C)  Fully depreciated assets are immediately disposed of. 
D)  Depreciation policies are in writing.

Question 7

Describe an internal control procedure that would prevent an employee from punching the time clock for another,absent employee.

Accepted Answer

supervision of the t

Question 8

Objectives of the Fixed Asset System do not include

Accepted Answer

A)  authorizing the acquisition of fixed assets 
B)  recording depreciation expense 
C)  computing gain and/or loss on disposal of fixed assets 
D)  maintaining a record of the fair market value of all fixed assets 
A)  authorizing the acquisition of fixed assets 
B)  recording depreciation expense 
C)  computing gain and/or loss on disposal of fixed assets 
D)  maintaining a record of the fair market value of all fixed assets

Question 9

Fixed asset accounting systems include cost allocation and matching procedures that are not part of routine expenditure systems.

Accepted Answer

A) True 
 B)False

Question 10

Explain the purpose of each of the following documents used in the payroll system:
the personnel action form,the job ticket,the time card.

Accepted Answer

The personnel action form is a document

Question 11

Which of the following uses fingerprint or hand-vein scan technology to produce the time and attendance file?

Accepted Answer

A)  Biometric time clocks 
B)  Magnetic swipe ID cards 
C)  Mobile remote devices 
D)  Proximity cards 
A)  Biometric time clocks 
B)  Magnetic swipe ID cards 
C)  Mobile remote devices 
D)  Proximity cards

Question 12

Which of the following works like a credit card with the time clock?

Accepted Answer

A)  Biometric time clocks 
B)  Magnetic swipe ID cards 
C)  Mobile remote devices 
D)  Proximity cards 
A)  Biometric time clocks 
B)  Magnetic swipe ID cards 
C)  Mobile remote devices 
D)  Proximity cards

Accounts payable

The document that captures the total amount of time that individual workers spend on each production job is called a

Most payroll systems for mid-size firms use real-time data processing.

Inventory control performs the formal record keeping function for fixed assets.

Which department is responsible for approving changes in pay rates for employees?

Which of the following is not a reasonable control for fixed assets?

Describe an internal control procedure that would prevent an employee from punching the time clock for another,absent employee.

Objectives of the Fixed Asset System do not include

Fixed asset accounting systems include cost allocation and matching procedures that are not part of routine expenditure systems.

Explain the purpose of each of the following documents used in the payroll system: the personnel action form,the job ticket,the time card.

Which of the following uses fingerprint or hand-vein scan technology to produce the time and attendance file?

Which of the following works like a credit card with the time clock?

The Information System: an Accountants Perspective

Introduction to Transaction Processing

Ethics,fraud,and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Conversion Cycle

General Ledger,financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct,deliver,and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, program Changes, and Application Controls

Filters

Exam 6: The Expenditure Cycle Part Ii: Payroll Processing and Fixed Asset Procedures

Accounts payable

The document that captures the total amount of time that individual workers spend on each production job is called a

Most payroll systems for mid-size firms use real-time data processing.

Inventory control performs the formal record keeping function for fixed assets.

Which department is responsible for approving changes in pay rates for employees?

Which of the following is not a reasonable control for fixed assets?

Describe an internal control procedure that would prevent an employee from punching the time clock for another,absent employee.

Objectives of the Fixed Asset System do not include

Fixed asset accounting systems include cost allocation and matching procedures that are not part of routine expenditure systems.

Explain the purpose of each of the following documents used in the payroll system: the personnel action form,the job ticket,the time card.

Which of the following uses fingerprint or hand-vein scan technology to produce the time and attendance file?

Which of the following works like a credit card with the time clock?

The Information System: an Accountants Perspective

Introduction to Transaction Processing

Ethics,fraud,and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Conversion Cycle

General Ledger,financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct,deliver,and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, program Changes, and Application Controls

Filters