Multiple Choice 6

The National Association of Convenience Stores found that switching from paper to electronic invoices

resulted in an annual savings in costs of more than

a. $330,000

b. $4.5 million

c. $100,000

d. $1.2 billion

Multiple Choice 7

The applicable control procedure for the threat of incomplete or inaccurate customer orders is:

a. data entry edit checks

b. segregation of duties

c. data entry edit controls

d. reconciliation of sales order with the picking ticket

Multiple Choice 8

Theft while inventory is in transit is estimated to be approximately _____ billion each year.

a. $4.5

b. $3.5

c. $10

d. $15

Multiple Choice 9

Operational data is needed to monitor performance and to perform the following recurring tasks:

a. Respond to customer inquiries about account balances and order status.

b. Select methods for delivering merchandise.

c. Determine inventory availability.

d. B and C

e. All of the above

Multiple Choice 10

Aging of accounts receivable is based on the

a. sales order date

b. picking ticket date

c. invoice date

d. bill of lading date