Which document notifies the purchaser of his or her obligation to pay? a. Vendor packing slip b. Receiving report c. Acceptance report d.Vendor invoice

Which of the following is not true about the general ledger/administrative processes system? a. Journal vouchers are source documents used by the system b. It ultimately updates the general ledger with operating, investing, and financing transactions c. Is not a system used by most companies d. It includes the preparation of financial statements

What advice would you give to a small business that has only one employee that does all of the bookkeeping for the company?a. Hire several more people so there can be a segregation of duties b. Leave things as they are since bookkeepers in small businesses have historically known to be honest c. Suggest that the owner become involved in many aspects of the business as a compensating control d. Have the business implement a system of password controls

In a logical data flow diagram for the general ledger/financial reporting system, a data flow called adjusted trial balance likely would trigger which of the following processes? a. Validate transactions b. Post transactions c. Record adjustments d.Prepare financial statements

The general ledger master file does not contain a. balance year-to-date b. customer number c. account number d. transaction

An example of an input control is a. Making sure the W2s are distributed to the proper people b. Monitoring the work of programmers c. Recalculating the net pay to that employee to ensure its accuracy d. Using a check digit at the end of each customer account number to ensure accurate entry of data

In a manual system, records of current activity are posted from a journal to a ledger. In a computer system, current records from a(n) a. Table file are updated to a transaction file b. Index file are updated to a master file c. Transaction file are updated to a master file d Master file are updated to a transaction file

A specific inventory record indicates that there are 12 items on hand and a customer ordered two of the items. When recording the order, the date entry clerk mistakenly entered 20 items sold. Which check would detect his error? a. Numeric/alphabetic check b. Reasonableness check c. Sequence check d.Internal label check

A credit card company sends its customers a two-part bill. Customers are asked to detach one part and return it as a remittance advice, along with the payment. This is an example of a. Batch control totals b. Tone at the top c. Written approval controls d. Turnaround document