Quiz 10 - AIS

• Question 1

  
  

  	Which of the following steps in the sales / collection process occurs last?
  	Correct Answer:   Bill the customer

• Question 2

  
  

  	Consider the following information items as you respond to the next question:     i.    Customer master file    ii.    Journal entry to record the receipt of cash   iii.    Pre-numbered documents   iv.    Schedule of accounts receivable         Accounting information systems have five generic elements, one of which can be directly applied to the other four. Which information item above best exemplifies that element?
  	Correct Answer:   Pre-numbered documents as an internal control in the AIS

• Question 3

  
  

  	Sally, a sales representative for WER Corporation, ensures that she does a thorough credit check for customers who want to purchase goods on account. The most important internal control WER should implement is:
  	Correct Answer:   Seperation of duties

• Question 4

  
  

  	As a form of internal control, a bank reconciliation is most closely related to which step in the sales / collection process?  (page 210)
  	Correct Answer:   Sixth

• Question 5

  
  

  	Consider the following short case as you respond to the next question: VLC Corporation sold merchandise with a cost of $200 on account for $300 to PRT Corporation; credit terms were 2 / 10, n / 30. VLC paid the outgoing freight charge of $10. PRT paid the invoice within the discount period. Inclusive of all the transactions that affect the income statement, VLC’s gross profit on the sale was:
  	Correct Answer:   $94

Quiz 9 - AIS Fall 206

• Question 1

  0.2 out of 0.2 points

  	An REA diagram must link every event to at least one ________ and two ________.
  	Selected Answer:   resource; agents Correct Answer:   resource; agents

• Question 2

  0.2 out of 0.2 points

  	Which of the following graphical symbols represents a minimum cardinality of zero and a maximum cardinality of one?
  	Selected Answer:   Correct Answer:

• Question 3

  0.2 out of 0.2 points

  	The "get" event represents an activity which
  	Selected Answer:   increases the organization's stock of an economic resource. Correct Answer:   increases the organization's stock of an economic resource.

• Question 4

  0.2 out of 0.2 points

  	Every citizen in the United States has one social security number, but no two citizens have the same social security number. Thus, the cardinality that exists between social security numbers and citizens is
  	Selected Answer:   one-to-one. Correct Answer:   one-to-one.

• Question 5

  0.2 out of 0.2 points

  	Which of the following transactions is represented by the diagram below?
  	Selected Answer:   Some inventory purchases are paid for with multiple payments and some payments may apply to multiple purchases. Correct Answer:   Some inventory purchases are paid for with multiple payments and some payments may apply to multiple purchases.

Saturday, November 12, 2016 6:00:00 PM CST

Quiz 8 - AIS

Question 1

	How do users retrieve data stored in a database?
	Correct Answer:   by executing a query

Question 2

	A set of individual user views of the database is called the
	Correct Answer:   external-level schema.

• Question 3

  
  

  	Using the database depicted below, "Item #" is best described as
  	Correct Answer:   an attribute, a primary key, and a foreign key

• Question 4

  
  

  	Ama Afolayan is chair of the National Owl Society, which maintains a database of all rare owls within the United States. One table will store the name, birth date, and other characteristics of all of the owls that have been registered. Each owl is uniquely identified by a registration number. A second table will contain data that link each owl to its male and female parents by means of their registration numbers. The primary key in the second table is
  	Correct Answer:   a combination of primary keys in the first table.

• Question 5

  
  

  	Which is probably the most immediate and significant effect of database technology on accounting?
  	Correct Answer:   quicker access to and greater use of accounting information in decision-making