Exam 3
A journal voucher file contains which of the following data items? a. account number. b. source reference code. c. amount debited or credited. d. All of the above.
A journal voucher file contains which of the following data items?
The threat of loss or alteration of financial data can be minimized by: a. encryption. b. access controls. c. Audit trail creation and review d. Answer a and Answer b
D. Answer a and Answer b
The credit approval process involves which of the following? A. Establishing a credit limit B. Investigating the credit history of the customer C. Verifying the customer order does not exceed an authorized limit D. All of the above.
D. All of the above.
Which threat is most likely to result in the largest losses in a short period of time? a. Alteration of checks or EFT payments b. Theft of inventory c. Duplicate payments to suppliers d. All of the above e. None of the above
a. Alteration of checks or EFT payments
The threat of inaccurate inventory records can be mitigated by which of the following controls? a. Bar coding or RFID tags b. Review of purchase orders c. Verification of invoice accuracy d. Supplier audits e. None of the above
a. Bar coding or RFID tags
MRP-II would most likely be used by a company that produces a. Different grades of milk (e.g., whole, 2% and skim) b. Toner cartridges for laser printers c. Toys based on a new movie d. All of the above are equally amenable to MRP-II systems e. None of the above
a. Different grades of milk (e.g., whole, 2% and skim)
Which element of the balanced scorecard would be represented by the return on equity? a. Financial b. Internal operations c. Innovation and learning d. Customer perspectives of the organization e. Not represented in the balanced scorecard
a. Financial
Which of the following types of fraud requires access to the accounts receivable master file? a. Lapping b. Kiting c. Theft of inventory d. None of the above
a. Lapping
The control procedure of cancelling the documents in a voucher package is designed to reduce the risk of a. Making duplicate payments b. Paying for items not received c. Fraudulent cash disbursements d. Failure to take advantage of discounts for prompt payment e. Theft of inventory
a. Making duplicate payments
At which stage of the production process can accountants contribute to significantly reducing the cost of goods sold? a. Product design b. Planning and scheduling c. Production operations d. None of the above
a. Product design
Cost accounting plays what role in the production cycle? a. Provides information about product pricing b. Assists managers determine how many items produced will be sold c. Conducts environmental scans to determine the strength of an entity's competition d. All of the above. e. None of the above
a. Provides information about product pricing
What is a method that companies use to minimize the risk of inferior quality products? a. Tracking and monitoring product quality by supplier. b. Using encryption techniques c. Providing adequate storage d. All of the above.
a. Tracking and monitoring product quality by supplier.
A back order is created when inventory doesn't exist to fill a customer order. a. True b. False
a. True
A sales order triggers the shipping process. a. True b. False
a. True
Accruals reflect events that have occurred but no cash has been received or disbursed. a. True b. False
a. True
An audit trail tracks a transaction from the source document through the general ledger. a. True b. False
a. True
Edit checks apply to the payroll process. a. True b. False
a. True
Kickbacks are a threat associated with the ordering of goods. a. True b. False
a. True
Material requirements planning (MRP) relies on sales forecasts to schedule inventory purchases. a. True b. False
a. True
One threat of EXtensible Business Reporting Language (XBRL) enabled financial statements for IFRS is that the statements may not accurately reflect the results of operations. a. True b. False
a. True
Process costing would be applied to mass produced items because it would not be cost effective to trace product costs to each individual item produced. a. True b. False
a. True
The analysis of warranty and repair costs is a proper control for the threat of poor product design resulting in excess costs. a. True b. False
a. True
The primary objective of the expenditure cycle is to minimize the total cost of acquiring inventories and supplies. a. True b. False
a. True
The use of an imprest checking account for payroll can reduce the threat of theft or fraudulent distribution of paychecks. a. True b. False
a. True
Which of the following is a threat to the Sales Order Entry activity of the Revenue Cycle? a. Uncollectible accounts. b. Failure to bill. c. Billing errors. d. Theft of inventory.
a. Uncollectible accounts.
The control known as closed loop verification is associated with: a. accuracy of updating customer accounts. b. preventing the theft of cash. c. encryption controls. d. separation of billing and shipping functions.
a. accuracy of updating customer accounts.
The balanced scorecard a. focuses on activities which most directly impact customer perceptions. b. focuses on activities which compose the accounting cycle. c. focuses on activities which form the basis of adjusting entries. d. focuses on activities which form manager satisfaction. e. None of the above.
a. focuses on activities which most directly impact customer perceptions.
Which section of the Balanced Score would benefit most from collecting data from external parties, rather than relying on internally-generated data? a. Financial b. Customer c. Internal Operations d. Innovation and Learning
b. Customer
A bill of lading is a legal contract between the customer and the vendor or seller. a. True b. False
b. False
A credit memo is generated by the receiving department after a customer has returned merchandise. a. True b. False
b. False
A key decision with respect to the expenditure cycle does not include the optimal level of inventory. a. True b. False
b. False
A trial balance is where journal entries are posted. a. True b. False
b. False
Accounting Information Systems (AIS) has traditionally been used to measure and human resources. a. True b. False
b. False
Activity Based Costing is an appropriate mechanism for allocating overhead for all entities. a. True b. False
b. False
An earnings statement is usually accompanied by a deduction register. a. True b. False
b. False
Because equipment is generally a large, easily identifiable asset, no recording and tracking internal controls are necessary. a. True b. False
b. False
Billing errors include pricing mistakes and sending the wrong merchandise to the customer. a. True b. False
b. False
Employee morale has no financial impact. a. True b. False
b. False
Flexible budgets do not take into consideration unforeseen changes in the operating environment. a. True b. False
b. False
Obsolescence is a disadvantage associated with JIT inventory systems. a. True b. False
b. False
Product Planning is the first step in production cycle. a. True b. False
b. False
Ordering unnecessary items can result from: a. Competitive bidding. b. Inaccurate perpetual inventory records. c. Require receiving employees to sign the receiving report. d. None of the above.
b. Inaccurate perpetual inventory records.
The use of biometrics as part of employee authentication is designed to primarily reduce the risk of which threat? a. Inaccurate updating of the master payroll file b. Inaccurate time and attendance data c. Failure to make required payroll tax payments d. Errors in processing payroll
b. Inaccurate time and attendance data
The control procedure of prohibiting employees from accepting gifts is designed to reduce the risk of a. Theft of inventory b. Kickbacks c. Fraudulent cash disbursements d. Stockouts e. None of the above
b. Kickbacks
Which of the following documents authorize the removal of raw materials inventory from the storeroom to a factory location where it will be put into production? a. Production order b. Materials Requisition c. Move ticket d. Picking ticket e. None of the above.
b. Materials Requisition
Which of the following serves as supporting documentation to transfer funds into the payroll checking account? a. Deduction register b. Payroll register c. Earnings statement d. None of the above
b. Payroll register
Which part of the throughput formula provides information about the impact of equipment downtime on overall productivity? a. Productive capacity b. Productive processing time c. Yield d. None of the above
b. Productive processing time
Unauthorized payroll changes can be minimized by the use of which control? a. Batch totals b. Segregation of functions c. Backup procedures d. Review of IRS regulations e. None of the above.
b. Segregation of functions
Which of the following is NOT a control for mitigating the risk of posting errors in accounts receivable? a. Data entry controls. b. Set proper credit limits. c. Reconciliation of batch totals. d. Mailing monthly statements to customers.
b. Set proper credit limits.
To implement proper segregation of duties, who should have the ability to create new records in the employee master file used for processing payroll? a. A payroll clerk b. Someone in HR c. The new employee's supervisor d. Any of the three people listed above could perform this task e. None of the three people listed above should perform this task
b. Someone in HR
Which of the following XBRL components can, if used too much, limit the potential benefits of comparability across organizations? a. Presentation linkbases b. Taxonomy extensions c. Style sheets d. Schemas
b. Taxonomy extensions
What is one unusual feature of an imprest petty cash fund? a. The threat of misappropriation of assets. b. The lack of segregation of duties involved in administering the account. c. It has an audit trail. d. The account is reviewed periodically by internal auditors.
b. The lack of segregation of duties involved in administering the account.
Move tickets are a control procedure designed to reduce the risk of a. Loss or destruction of production data b. Theft of inventory c. Disruption of operations d. Inappropriate allocation of overhead costs
b. Theft of inventory
Which of the following does NOT make bar graphs easier to read? a. Utilizing titles that summarize the basic message b. Utilizing 3-D bars c. Utilizing 2-D bars d. Using differing shades of gray or colors to represent different variables
b. Utilizing 3-D bars
The theory underlying the Balanced Scorecard is that improvements in the _____ section will lead to improvements in the _____ section leading to improvements in the _____ section, ultimately creating better results in the financial section. a. customer, learning & innovation, internal b. learning & innovation, internal, customer c. internal, customer, learning & innovation
b. learning & innovation, internal, customer
An effective method of reducing the risk of theft is a. an annual inventory count. b. proper segregation of duties. c. requiring the employee who maintains custody of inventory to also record inventory transactions. d. All of the above. e. None of the above.
b. proper segregation of duties.
Which controls apply to reducing the threat of unauthorized changes to payroll master file? a. Access to blank checks is restricted b. Source data automation for data capture c. Access controls d. Supervisory review of payroll register and other reports e. All of the above
c. Access controls
To implement proper segregation of duties, who should distribute paychecks and prepaid debit cards? a. Department heads b. Payroll clerks c. Administrative assistants d. None of the above should be the person who distributes paychecks and prepaid debit cards to employees
c. Administrative assistants
Which of the following is (are) a valid statement about Activity Based Cost (ABC) systems? a. ABC systems are more efficient than the traditional method in allocating direct material costs to products. b. ABC systems are more efficient than the traditional method in allocating direct labor costs to products. c. Allocate overhead costs through the use of multiple cost drivers. d. None of the above
c. Allocate overhead costs through the use of multiple cost drivers.
Fraudulent financial reporting is a concern in the GL/reporting cycle. The best control to deal with that potential problem is a. Proper segregation of duties b. Processing integrity controls such as validity checks c. An independent audit of all adjusting entries d. Requiring mandatory vacations for all managers e. Prenumbering of all documents
c. An independent audit of all adjusting entries
Technique(s) used to improve employee performance include a. careful monitoring of productivity. b. training. c. Answers a and b are correct. d. None of the above.
c. Answers a and b are correct.
Creation and review of an audit trail is a detective control that can enable organizations to find and correct problems arising from a. Inaccurate updating of the general ledger b. Unauthorized adjusting entries c. Both a and b d. Neither a nor b
c. Both a and b
If the information is inaccurate or incomplete on a sales order a. inefficiencies are created in the processing of the sales order. b. negatively affects customer perceptions. c. Both answers 1 and 2 are correct. d. None of the above is correct.
c. Both answers 1 and 2 are correct.
Which of the following statements are true? a. Issuing employees procurement cards is an example of the control procedure referred to as "general authorization" b. Organizations can reduce the risk of fraudulent disbursements by sending their bank a list of all checks issued, a process referred to as "Positive Pay" c. Both of the statements above are true d. None of the statements above are true
c. Both of the statements above are true
Which of the following controls would be most effective in mitigating the risk of inventory theft? a. Reconciling shipping documents to sales orders, picking lists and packing slips. b. Separating the functions of shipping and billing c. Documentation of all transfers of inventory between employees d. Use of lockboxes
c. Documentation of all transfers of inventory between employees
Which of the following control procedures is designed to reduce the risk of check alteration fraud? a. ACH blocks on accounts not used for payments b. Use of dedicated computer and browser for online banking c. Establishing "Positive Pay" arrangements with banks d. Access controls for EFT terminals e. Prenumbering all checks
c. Establishing "Positive Pay" arrangements with banks
An adjusting entry to record bad debt expense is an example of a(n) a. Accrual b. Deferral c. Estimate d. Revaluation e. Correction
c. Estimate
Which of the following pairs of duties combines the functions of custody and authorization in a manner that would allow an employee to conceal the theft of a customer's payment? a. Handling cash receipts plus maintaining accounts receivable b. Writing checks plus reconciling the bank statement c. Handling cash receipts plus issuing credit memos d. All of the combinations involve custody and authorization in a manner that would enable an employee to conceal theft of a customer's payment e. None of the combinations involve the functions of custody and authorization in a manner that would enable an employee to conceal theft of a customer's payment
c. Handling cash receipts plus issuing credit memos
Which of the following control procedures is designed to reduce the risk of ordering unneeded inventory? a. Tracking and monitoring product quality by supplier b. Purchasing only from approved suppliers c. Holding purchasing managers responsible for rework and scrap costs d. All of the above e. None of the above
c. Holding purchasing managers responsible for rework and scrap costs
In terms of quality control measures, scrap and rework costs are part of a. Prevention costs b. Inspection costs c. Internal failure costs d. External failure costs
c. Internal failure costs
Which inventory system attempts to minimize inventory costs by only purchasing goods required for actual sales orders? a. Material requirements planning (MRP) b. Economic order quantity (EOQ) c. Just-in-time (JIT) d. Reorder point
c. Just-in-time (JIT)
The control procedure of comparing a voucher package to vendor invoices is designed to reduce the risk of a. Failure to take advantage of discounts for prompt payment b. Mistakes in posting to accounts payable c. Paying for items not received d. Theft of inventory e. Making duplicate payments
c. Paying for items not received
Which control procedure would be most effective in reducing the risk of over- or under-production? a. Reviewing all changes to master data b. Activity-based costing c. Production planning systems d. Computer-integrated manufacturing e. Reports that highlight the components of throughput
c. Production planning systems
An application control that compares the amount of an employee's raise to that employee's existing salary is called a(n): a. Limit check b. Range test c. Reasonableness test d. Check digit verification e. Size check
c. Reasonableness test
Which of the following documents is no longer needed if a company uses the evaluated receipts system (ERS) with its suppliers? a. Purchase Order b. Receiving Report c. Supplier Invoice d. Debit Memo e. None of the above
c. Supplier Invoice
Which of the following combinations of duties can the same employee perform without violating the principle of segregation of duties? a. Shipping inventory and billing customers b. Issuing credit memos and maintaining accounts receivable c. Taking customer orders and checking inventory availability d. All three of the listed combinations can be performed by the same person without violating the principle of segregation of duties e. None of the three listed combinations should be performed by the same person because all three combinations violate the principle of segregation of duties
c. Taking customer orders and checking inventory availability
What is the most effective technique used to minimize the risk of an inaccurate inventory counts? a. Quick visual comparison of amounts received and those indicated on the packing slip b. Using the Economic Order Quantity model c. The use of a bar-coding or radio frequency identification tag (RFID) system d. The use of just-in-time (JIT) accounting systems
c. The use of a bar-coding or radio frequency identification tag (RFID) system
Use of a separate checking account for payroll is designed to reduce the risk of the threat of a. Unauthorized changes to the payroll master file b. Errors in processing payroll c. Theft or fraudulent disbursement of paychecks d. Failure to make required payments to government tax agencies e. Loss or destruction of payroll data
c. Theft or fraudulent disbursement of paychecks
The objective of approving and paying vendor invoices is to ensure: a. company pays only for goods and service ordered. b. company pays only for goods and service received. c. company pays only for goods and service ordered and received. d. None of the above.
c. company pays only for goods and service ordered and received.
The open invoice method involves which of the following activities? a. customers pay from a balance on a monthly statement. b. remittances are applied against a total account balance. c. customers pay specific invoices. d. None of the above
c. customers pay specific invoices.
The practice of allowing kickbacks: a. improves the position of the company. b. results in higher quality purchases. c. impairs the objectivity of the purchaser. d. provides quantity discounts.
c. impairs the objectivity of the purchaser.
The risk of receiving unordered goods is prevented most effectively by a. surprise audits. b. recalculation of invoice prices. c. instructs the receiving department to accept deliveries only those goods where there is an approved copy of the purchase order. d. All of the above.
c. instructs the receiving department to accept deliveries only those goods where there is an approved copy of the purchase order.
A credit memo a. is issued by the customer. b. is issued by the cashier. c. is issued by the credit manager. d. increases accounts receivable.
c. is issued by the credit manager.
Job order costing would be most appropriate when a. a product is homogeneous. b. it is mass-produced. c. the products are discretely identifiable. d. Both 1 and 2. e. All of the above.
c. the products are discretely identifiable.
Which of following is NOT a basic attribute used to define an element in an XBRL document? a. data type. b. period type. c. voucher type. d. balance type.
c. voucher type
Which of the following provide useful information for evaluating current credit policies and for deciding whether to increase the credit limit for specific customers? a. Cash budget b. Profitability analysis reports c. Sales analysis reports d. Accounts receivable aging schedule e. None of the above
d. Accounts receivable aging schedule
Which of the following controls best addresses the threat of inaccurate adjusting entries? a. Spreadsheet error protection controls b. Audit trail creation and review c. Processing integrity controls. d. All of above.
d. All of above.
Kickbacks are a problem because they increase the risk of a. Purchasing inventory that is not needed b. Purchasing inferior quality items c. Purchasing at inflated prices d. All of the above e. None of the above
d. All of the above
Which of the following control procedures is designed to reduce the risk of theft of inventory? a. Restriction of physical access to inventory b. Periodic physical counts of inventory and reconciliation to recorded quantities on hand c. Documentation of all transfers of inventory between employees d. All of the above e. None of the above
d. All of the above
Which of the following control procedures is designed to reduce the risk of theft of paychecks or fraudulent distribution of paychecks? a. Restriction of access to blank payroll checks b. Prenumbering and periodically accounting for all paychecks c. Redepositing all unclaimed paychecks and investigating the reasons why the paychecks were not claimed d. All of the above e. None of the above
d. All of the above
Which of the following controls reduce the risk of issuing paychecks to a "phantom" or "ghost" employee? a. Restrict physical access to blank paychecks b. Prenumber all payroll checks c. Use an imprest account to clear payroll checks d. All of the above e. None of the above
d. All of the above
A data entry program for the Human Resource and Payroll cycles should include which of the following edit checks? a. Field checks b. Limit checks c. Validity checks d. All of the above. e. None of the above.
d. All of the above.
An electronic lockbox has which of the following functions? a. Safeguards cash b. Improves cash management c. Minimizes the time customer checks are in the mail d. All of the above.
d. All of the above.
Payroll service bureaus and professional employer organizations offer the following advantages: a. reduced costs. b. frees up computer resources. c. wider range of benefits. d. All of the above. e. None of the above
d. All of the above.
Steps to reduce the risk of inventory theft include: a. inventory is kept in a secure location, with limited physical access. b. all inventory transfers within the company are documented. c. inventory is released only upon approved sales orders. d. All of the above.
d. All of the above.
Which of the following techniques assist with meeting general ledger control objectives? a. Using pre-numbered journal entries b. The use of validity checks c. Restricting access to general ledger programs d. All of the above. e. None of the above.
d. All of the above.
The problem(s) with static budgets include the following: a. they establish one set of budgetary figures, regardless of the actual output level. b. they may not be perceived as fair or accurate by production managers. c. They are not compatible with a balanced scorecard. d. Both answers a and b.
d. Both answers a and b.
In terms of quality control measures, the costs associated with issuing credit memos to customers who return defective products is part of a. Prevention costs b. Inspection costs c. Internal failure costs d. External failure costs e. None of the above
d. External failure costs
Which of the following XBRL components contains information about which items should be summed to create a category total (e.g., which items comprise current liabilities)? a. Instance document b. Style sheet c. Taxonomy d. Link base e. Schema
d. Link base
For good internal control in an ERP system, sales staff should be permitted to: a. Adjust customer credit limits b. Issue credit memos c. Both of the above d. Neither of the above
d. Neither of the above
Which of the following is most likely the cost driver for accounts payable expenses associated with processing supplier invoices? a. Number of different parts purchased b. Total price of purchases c. Number of suppliers used d. Number of purchases made e. All of the metrics listed above
d. Number of purchases made
Which of the following threats is related the production operation activity in the production cycle? a. Poor product design resulting in excess costs b. Inaccurate cost data c. includes direct labor costs d. Poor performance e. None of the above.
d. Poor performance
Which control procedure(s) do NOT address the threat of payroll errors? a. Batch totals b. Cross-footing the payroll register c. A payroll clearing account d. Pre-numbering payroll checks
d. Pre-numbering payroll checks
Which of the following is NOT a threat associated with billing and accounts receivable? a. Failure to bill customers b. An error in billing c. Posting errors in updating accounts receivable d. Theft of cash
d. Theft of cash
Which of the following procedures, by itself, is most effective at preventing employees from stealing cash? a. Restrictively endorsing all checks from customers upon receipt b. Having someone who has no access to cash reconcile the bank accounts c. Sending monthly statements to customers d. Using lockboxes for customer remittances e. Creating invoices so that the bottom portion is to be returned as a remittance advice
d. Using lockboxes for customer remittances
Journal entries made by either the treasurer or controller should be subject to input edit and processing controls. A data entry application control that is designed to ensure that the total debits in a journal entry equal the total credits is called a __________. a. Sign check b. Equality check c. Reasonableness check d. Zero-balance check
d. Zero-balance check
Which of the following is an example of the type of fraud referred to as misappropriation of assets? a. embezzlement b. lapping c. inventory theft d. all of the above e. none of the above
d. all of the above
An eXtensible Business Reporting Language (XBRL) document that contains "tagged data" delivered to users is called a(n) a. data document. b. tagged document. c. balance scorecard. d. instance document.
d. instance document.
The CEO is concerned about the possibility of employees stealing inventory. In the formal language used for risk analysis, theft of inventory is referred to as a(n): a. risk b. exposure c. expected loss d. threat e. None of the above
d. threat
Resumes are key to finding the appropriate employee for a specific job. Resumes: a. should be created with the idea that the employers will verify the information contained on them. b. have been found to contain false or embellished information 30% of the time. c. are ineffective in finding a job. d. two of the above. e. None of the above.
d. two of the above.
What control procedures reduce the risk of paying the same invoice twice? a. Invoices are approved for payment only when accompanied by a complete voucher packet. b. Only the original invoice copy should be paid. c. Paid invoices should be marked "paid". d. Payment should never be made on an invoice copy. e. All of the above
e. All of the above
Which of the following controls and/or devices are used to safeguard inventories? a. RFID tags b. Access controls c. Bar code scanners d. None of the above. e. All of the above
e. All of the above
Which of the following is NOT an objective of the HRM/Payroll cycle? a. Payroll transactions are all valid b. Payroll transactions are all authorized c. Cash and data are safeguarded d. All transactions are accurately recorded. e. All of the above are objectives of the HRM/Payroll Cycle.
e. All of the above are objectives of the HRM/Payroll Cycle.
Threats in the production cycle do not include: a. inaccurate data. b. poor performance. c. theft of fixed assets. d. disruption of operations. e. All of the above are threats
e. All of the above are threats
Adjusting entries include each of the following: a. accruals. b. deferrals. c. estimates. d. revaluations. e. All of the above.
e. All of the above.
Costs tracked in the production cycle include a. raw materials. b. indirect labor. c. machinery and equipment. d. direct labor. e. All of the above.
e. All of the above.
Processing controls include: a. validity checks. b. field checks. c. closed loop verification. d. run-to-run totals. e. All of the above.
e. All of the above.
Unauthorized disclosure of payroll information can be minimized through which of the following technique(s)? a. Logical access controls b. Encryption c. Physical Access controls d. Data transmission controls e. All of the above.
e. All of the above.
What are the typical expenditure cycle functions? a. Verify the accuracy of vendor invoices b. Select the appropriate vendors from whom to order c. Decide if appropriate discounts have been taken d. Monitor cash flow needed to pay obligations e. All of the above.
e. All of the above.
Which of the following checks are useful in detecting inaccuracies in time and attendance records? a. Validity checks on employee numbers b. Limit checks on hours worked c. Reasonableness tests of production data, such as comparing the quantity produced with the master production schedule d. Batch totals e. All of the above.
e. All of the above.
The billing cycle includes the following: a. invoicing. b. shipping. c. updating accounts receivable. d. Making bank deposits. e. Answers a and c.
e. Answers a and c.
For effective internal control, which of the following duties can the person who handles customer payments also perform? a. Issue credit memos b. Reconcile the bank account c. Maintain accounts receivable d. All of the above e. None of the above
e. None of the above
Which of the following violates proper segregation of duties? a. The same person maintains both accounts receivable and accounts payable. b. The same person approves sales orders that exceed a customer's credit limit and processes and reconciles the bank account. c. The same person handles customer payments and has access to blank checks. d. All of the above combinations violate proper segregation of duties. e. None of the above combinations violate proper segregation of duties.
e. None of the above combinations violate proper segregation of duties.
Which of the following is NOT an objective of cost accounting? a. provides information for planning b. provides information for evaluating performance c. collects and process information used to calculate inventory d. collects and process information used to calculate cost of goods sold e. None of the above.
e. None of the above.
Which of the following controls best addresses the threat of inaccurate cost data? a. Analysis of warranty and repair costs b. Documentation of all inventory movement c. Production planning systems d. Training e. Source data automation
e. Source data automation
Prenumbering and periodically accounting for all payroll checks and review of all EFT direct deposit transactions reduce the threat of a. poor performance. b. inaccurate time data. c. loss or alteration of data. d. inaccurate processing of payroll. e. fraudulent distribution of payroll checks.
e. fraudulent distribution of payroll checks.
Quality control costs do NOT include: a. prevention costs. b. inspection costs. c. internal failure costs. d. external failure costs. e. opportunity costs.
e. opportunity costs.
Which of the following would NOT be included in manufacturing overhead? a. Quality control costs b. Power c. Rent d. Property taxes e. Insurance f. All of the above would be included in manufacturing overhead.
f. All of the above would be included in manufacturing overhead.
What decision(s) are NOT facilitated by Human Resource Cycle information? a. Future workforce staffing needs b. Employee performance c. Employee morale d. Payroll processing e. Sales forecasting f. Two of the above
f. Two of the above
