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Which functions should be segregated? a. Authorizing credit and determining reorder quantities b. Picking goods from the warehouse shelves and updating the inventory subsidiary ledger c. Billing customers and posting the bills to the sales journal d. Providing information on inventory levels and reconciling the bank statement

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Accounting Information Systems

10th Edition
Hall + 1 other
Publisher: Cengage Learning,
ISBN: 9781337619202

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BuyFindarrow_forward

Accounting Information Systems

10th Edition
Hall + 1 other
Publisher: Cengage Learning,
ISBN: 9781337619202
Chapter 4, Problem 2MCQ
Textbook Problem
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Which functions should be segregated?

  1. a. Authorizing credit and determining reorder quantities
  2. b. Picking goods from the warehouse shelves and updating the inventory subsidiary ledger
  3. c. Billing customers and posting the bills to the sales journal
  4. d. Providing information on inventory levels and reconciling the bank statement

To determine

Identify the functions which can be segregated.

Explanation of Solution

Segregation:

Segregation is the process to split one function performed by an employee into two or more functions. Segregation of functions helps to find the flaws in the activities. It also helps to perform the activities more efficiently.

b.

Picking goods from the warehouse shelves and updating the inventory subsidiary ledger can be separated. Separation can help in identifying the flaws in these activities. Therefore option b. is correct.

a.

Credit department performs the task of authorizing credit and determining the reordered quantity. These tasks are already separated; so, it cannot be separated more...

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Chapter 4 Solutions

Accounting Information Systems
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Ch. 4 - What are the key features of a POS system?Ch. 4 - How is a credit check in the advanced technology...Ch. 4 - What is multilevel security?Ch. 4 - Why does billing receive a copy of the sales order...Ch. 4 - Why was EDI devised?Ch. 4 - What assets are at greatest risk in a POS system?Ch. 4 - In a manual system, after which event in the sales...Ch. 4 - What is a bill of lading?Ch. 4 - What document initiates the billing process?Ch. 4 - Where in the cash receipts process does...Ch. 4 - Why do firms have separate departments for...Ch. 4 - Distinguish between the sales order, billing, and...Ch. 4 - Explain the purpose of having mail room...Ch. 4 - Explain how segregation of duties is accomplished...Ch. 4 - How could an employee embezzle funds by issuing an...Ch. 4 - What task can the AR department engage in to...Ch. 4 - Why is access control over revenue cycle documents...Ch. 4 - How can reengineering of the sales order...Ch. 4 - What financial statement misrepresentations may...Ch. 4 - Give three examples of access control in a POS...Ch. 4 - Discuss the trade-off in choosing to update the...Ch. 4 - If an automated credit checking function denies a...Ch. 4 - How can advanced technology transaction processing...Ch. 4 - What makes POS systems different from revenue...Ch. 4 - Is a POS system that uses bar coding and a laser...Ch. 4 - How is EDI more than technology? What unique...Ch. 4 - Discuss the two common methods of achieving...Ch. 4 - Which function or department records a sale in the...Ch. 4 - Which functions should be segregated? a....Ch. 4 - Which of the following is incompatible task? a....Ch. 4 - Which control helps to ensure that the inventory...Ch. 4 - The bill of lading is prepared by the a. sales...Ch. 4 - Which of the following is NOT an independent...Ch. 4 - Which document defines terms for shipped goods...Ch. 4 - Which of the following sets of tasks should not be...Ch. 4 - Which of the following is often called a...Ch. 4 - Which document triggers the billing function? a....Ch. 4 - SEGREGATION OF FUNCTIONS Which, if any, of the...Ch. 4 - INTERNAL CONTROLS AND FLOWCHART ANALYSIS a....Ch. 4 - FLOWCHART ANALYSIS Use the flowchart for Problem 3...Ch. 4 - The following describes the cash receipts process...Ch. 4 - RISKS AND INTERNAL CONTROLS Following describes...Ch. 4 - INTERNAL CONTROL EVALUATION a. Identify the...Ch. 4 - STEWARDSHIP Identify which department has...Ch. 4 - Denis Frederick owns Never Leak, Inc., which is a...Ch. 4 - The following describes the information system for...Ch. 4 - The following describes the sales procedures for a...Ch. 4 - CONTROL WEAKNESSES AND RELATED RISKS -CASH...Ch. 4 - Refer to the system flowchart in the figure...Ch. 4 - In 1989, Robert Smith opened a small fruit and...Ch. 4 - Posavek is a wholesale supplier of building...Ch. 4 - Green Pond Nursery Supply (GPNS) is a garden...Ch. 4 - (Prepared by Will Richens and Michael Catchpole,...Ch. 4 - Outdoor Adventure is a Montana-based wholesaler of...

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