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ACC 340 Week 3 Quiz Page 1 Name: __________________________ Date: _____________ 1. Which of the following is not a characteristic associated with professional service organizations? A) Lack of a profit motive B) Absence of inventories C) Importance of human resources D) Difficulty in measuring the quantity and quality of output 2. Which of the following is one of the five interacting components of an accounting information system? A) Fuzzy logic B) Testing C) Certification D) Procedures E) Internet 3. Which of the following technologies are now used in conjunction with automated production process systems to increase efficiencies? A) Radio frequency technology B) Bar code scanners C) FR IDs and advanced electronic tags D) all of the above E) none of the above 4. It would be appropriate for the payroll accounting department to be responsible for which of the following functions? A) Approval of employee time records B) Maintenance of records of employment, discharges, and pay increases C) Preparation of periodic governmental reports as to employees' earnings and withholding taxes D) Distribution of paychecks to employees 5. Tape and disk output controls are primarily concerned with: A) The storage space problem B) Building control totals C) Validating checksums D) The encoding process Page 2 6. The most significant difference in the AISs of retail organizations versus other vertical market organizations is the: A) Sophistication of the systems used B) Type of training programs available to employees C) Point-of-sale data capture D) Structure of information that the system provides to managers 7. Both cash and credit customers are educated to expect a sales ticket. Tickets are serially numbered. All numbers are accounted for daily. A) Customers complain that their monthly bills contain items that have been paid B) Some customers have the correct change for the merchandise purchased they pay and do not wait for a sales ticket C) Customers complain that they are billed for goods they did not purchase D) Customers complain that goods ordered are not received E) Salesclerks destroy duplicate sales tickets for the amount of cash stolen 8. Which of the following is true about control totals? A) Usually expressed in dollars B) Batches normally occur in groups of 200 or more C) Should 'make sense' to be useful D) none of the above 9. The sales department bookkeeper has been crediting houseaccount sales to her brother-inlaw, an outside salesman. Commissions are paid on outside sales but not on house-account sales. This might have been prevented by requiring that: A) Sales order forms be prenumbered and accounted for by the sales department bookkeeper B) Sales commission statements be supported by sales order forms and approved by the sales manager C) Aggregate sales entries be prepared by the general accounting department D) Disbursement vouchers for sales commissions be reviewed by the internal audit department and checked to sales commission statements 10. An older computer system, typically using a mainframe, centralized data processing, and COBOL software, is often called a: A) Supercomputer system B) Primary system C) Legacy system D) Traditional system Page 3 11. The maintenance of backup copies of a company's important transaction and master files is an example of a: A) Preventive control procedure B) Detective control procedure C) Corrective control procedure D) Management-by-exception control procedure 12. A bar code reader is most likely to be used by which type of system? A) POS system B) MICR system C) Printer/scanner system D) Fax machine system 13. The preventative controls within a company's internal control system: A) Form the foundation for all of a company's other internal control components B) Focus on management's philosophy and operating style C) Ignore the risk factor associated with a company's control procedures D) Relate to safeguarding a company's assets and checking the accuracy and reliability of the company's accounting data 14. It is generally true of not-for-profit organizations that they: A) Are profit-oriented despite their name B) Are always evaluated using profit measures C) Are not governed by accounting standards D) Emphasize funds rather than income in their internal accounting systems 15. The basic form of backup used in magnetic tape operations is called: A) Odd parity check B) Dual-head processing C) File protection rings D) The grandfather-parent-child concept 16. In designing a payroll system it is known that no individual's paycheck can amount to more than $300 for a single week. As a result, the payroll program has been written to bypass writing a check and printing out an error message if any payroll calculation results in more than $300. This type of control is called: A) A limit or reasonableness test B) Error review C) Data validity test D) Logic sequence test Page 4 17. The COSO report stresses that: A) Internal control is a process B) An internal control system, if properly designed, can become a substitute for management C) People only at high levels of an organization are an important part of an internal control system D) An internal control system should consist of three interrelated components: the control environment, risk assessment, and control activities 18. Which of the following is not a concern of the financing process? A) Effective cash management B) Optimizing an organization's cost of capital C) Minimizing an organization's borrowings D) Projecting cash flows 19. The special cards that users can store in their cars to gain access to parking lots and breeze through collection booths on toll roads are examples of: A) RFID systems B) NFC systems C) POS systems D) MICR systems 20. All of the following are reasons why information technology is important to accountants except: A) IT supports AIS functions such as communications and record keeping B) Accountants must often evaluate AISs for themselves or for clients C) It is important to keep up if your competitors buy new computers, you should too. D) IT is likely to affect the way accountants work in the future ...
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Cusomer_ID_93466 Category: Homework      On: April12th 2012Reply

John Ray

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John Doe

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