Quiz for Accounting Information System

784 WordsOct 15, 20124 Pages
Quiz Chapter 1 1. What is data? What is information? (p.10) Data are facts, which may or may not be processed and have no direct effect on a user’s actions. Information causes the user to take an action that he or she otherwise could not, or would not have taken. 2. List tasks of database management. (p.12) Three database management tasks are data storage, data retrieval, and data deletion. 3. What services could not public accountings provide with their audit clients? (p.22) There are: Bookkeeping or other services related to the accounting records or financial statements of the audit client; Financial information systems design and implementation; Appraisal or valuation services, fairness opinions, or contribution-in-kind…show more content…
4. What are the three broad categories of IT application controls? (p.118) They are: input controls, processing controls, and output controls. Quiz Chapter 5 1. What document triggers the purchase process? (p.212) It is the purchase requisition. 2. What is the purpose of a blind copy of purchase order? (p.214) A blind copy could force the receiving clerk to count and inspect inventories prior to completing the receiving report, thus the quantity and condition of the goods could be verified. 3. What are the documents in the three-way match? (p.217) They are: the supplier’s invoice, the receiving report and the purchase order in the AP pending file. 4. What traditional accounting records does vendor invoice file substitute in the integrated purchase system? (p.232) Purchase journal and accounts payable subsidiary ledger. 5. In the receiving area, what activities need supervision? (p.226) Supervision should be in place to ensure that the clerks inspect and count the items received to protect the firm from unintentionally accepting incomplete orders and damaged goods. Also, incoming goods are exposed to theft until they are securely placed in the warehouse. Supervision should be in place to prevent such

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