IncorrectQuestion 21

0 / 1 pts

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

  

job ticket.

  

timecard.

  

personnel action form

  

labor distribution form

IncorrectQuestion 22

0 / 1 pts

An important reconciliation in the payroll system is when

  

the production department compares the number of hours reported on job tickets to the number of
hours reported on timecards.

  

the general ledger department compares the labor distribution summary from cost accounting to the
disbursement voucher from accounts payable.
 

  

the personnel department compares the number of employees authorized to receive a paycheck to the
number of paychecks prepared.

  

the payroll department compares the labor distribution summary to the hours reported on timecards.

Question 23

1 / 1 pts

Which document helps to ensure that the receiving clerk actually counts the number of goods received? 

  

Shipping notice

  

Invoice

  

Blind copy of purchase order

  

Packing list

Question 24

1 / 1 pts
Which duties should be segregated?

  

Writing checks and maintaining the check register

  

Matching purchase requisitions, receiving reports, and invoices authorizing payments

  

Authorizing payment and maintaining the check register

  

Authorizing payment and maintaining the accounts payable subsidiary ledger

Question 25

1 / 1 pts

Which documents would an auditor most likely choose to examine closely in order to ascertain that all
expenditures incurred during the accounting period have been recorded as a liability?

  

Purchase requisitions

  

Purchase orders

  

Invoices

 
   

Receiving reports

Question 26

1 / 1 pts

Which task must still require human intervention in an automated purchases/cash disbursement
system?

  

Determination of inventory requirements

  

Preparation of a check register

  

Preparation of a receiving report

  

Preparation of a purchase order

Question 27

1 / 1 pts

In a well-designed internal control structure, two tasks that should be performed by different persons
are

  

Preparation of bank reconciliation and recording of cash disbursement

 

  

Posting of amounts from both the cash receipt journal and cash disbursement journal to the general
ledger

  

Preparation of purchase orders and authorization of monthly payroll.

  

Distribution of payroll checks and approval of credit sales

Question 28

1 / 1 pts

Statement I. OLAP stands for on-line application processing.

Statement II. OLTP stands for on-line transaction processing.

  

Both statements are correct

  

Only Statement I is correct

  

Both statements are false

  

Only Statement II is correct

 

Question 29

1 / 1 pts

Goals of ERP include all of the following except:

  

improvements of legacy systems

  

increased productivity

  

reduced production time

  

improved customer service

Question 30

1 / 1 pts

Statement I: Day to day operations are stored in the operational database.

Statement II: SAP is the largest ERP vendor.

  

Only Statement II is correct

  

Both statements are false

 

  

Both statements are correct

  

Only Statement I is correct