Accounting Information Systems
10th Edition
ISBN: 9781337619202
Author: Hall, James A.
Publisher: Cengage Learning,
expand_more
expand_more
format_list_bulleted
Question
Chapter 5, Problem 5MCQ
To determine
Identify the control that helps in ensuring the inventory items received are the correct type and the correct amount, and are in good condition.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Which document helps to ensure that the receiving clerks actually count the number of goods received?a. packing listb. blind copy of purchase orderc. shipping noticed. invoice
The tracking of inventory shrinkage due to theft, damage, or errors is completed with the help of a (n)
inventory.
OA. physical count
B. authorization
C. sale
OD. delivery
BI
of
Which function should the billing department NOT perform? a. record the sales in the sales journal b. send the ledger copy of the sales order to accounts receivable c. send the stock release document and the shipping notice to the billing department as proof of shipment d. send the stock release document to inventory control
Chapter 5 Solutions
Accounting Information Systems
Ch. 5 - Prob. 1RQCh. 5 - What purpose does a purchasing department serve?Ch. 5 - Prob. 3RQCh. 5 - Prob. 4RQCh. 5 - Prob. 5RQCh. 5 - Prob. 6RQCh. 5 - Prob. 7RQCh. 5 - Prob. 8RQCh. 5 - Prob. 9RQCh. 5 - Some organizations do not use an AP subsidiary...
Ch. 5 - What is the purpose of the blind copy of a PO?Ch. 5 - Prob. 12RQCh. 5 - Prob. 1DQCh. 5 - Prob. 2DQCh. 5 - Prob. 3DQCh. 5 - The level of day-to-day department activity in...Ch. 5 - Prob. 5DQCh. 5 - What is central to a successful EDI...Ch. 5 - Discuss the objective of eliminating the receiving...Ch. 5 - What purpose does multilevel security control play...Ch. 5 - Prob. 9DQCh. 5 - Prob. 10DQCh. 5 - Which of the following statements is correct? a....Ch. 5 - Which of the following represents incompatible...Ch. 5 - Prob. 3MCQCh. 5 - Prob. 4MCQCh. 5 - Prob. 5MCQCh. 5 - Prob. 6MCQCh. 5 - Prob. 7MCQCh. 5 - Which of the following tasks should the cash...Ch. 5 - Which ledger can be updated solely from the...Ch. 5 - Prob. 10MCQCh. 5 - Prob. 1PCh. 5 - INVENTORY ORDERING ALTERNATIVES The flowchart for...Ch. 5 - Prob. 3PCh. 5 - Prob. 4PCh. 5 - Prob. 5PCh. 5 - Prob. 6PCh. 5 - Prob. 7PCh. 5 - Prob. 8PCh. 5 - Prob. 9PCh. 5 - Prob. 10PCh. 5 - Prob. 11PCh. 5 - UNRECORDED LIABILITIES You are auditing the...Ch. 5 - SMITHS MARKET (SMALL BUSINESS ACCOUNTING SYSTEM)...Ch. 5 - POSAVEK REMODELING AND BUILDING SUPPLY COMPANY...Ch. 5 - GREEN POND NURSERY (STANDALONE PC-BASED ACCOUNTING...Ch. 5 - Prob. 4ICCCh. 5 - Prob. 5ICCCh. 5 - Prob. 6ICCCh. 5 - Prob. 7ICCCh. 5 - Prob. 8ICC
Knowledge Booster
Similar questions
- Which of the following procedure is designed to prevent the company from ordering unnecessary items? A. Periodic counts of inventory and reconciliaton of counts to inventory records B. Using approved suppliers C. Requiring purchasing agents to disclose any financial investments in potential suppliers D. Approval of purchase requisitionsarrow_forwardWho is responsible for releasing an order? Describe what happens to the inventory records andto PAC and purchasing.arrow_forwardIn a good internal control system, which of the following sets of documents is required for proper approval of a payment to a supplier? A. a journal entry, a supplier invoice, and a description of the goods being purchased B. a supplier invoice, a bill of lading, and the supplier's financial statements C. a purchase order, a journal entry, and a price catalog D. a receiving report, an invoice, and a purchase orderarrow_forward
- the purchases and disbursements cycle usually begins when a. a user department request for acquisition of goods or services and submits purchase requisition to the purchasing department b. a check is issued to the vendor or supplier c. the warehouse is received the goods from the vendor or supplier d. the accounting posts the purchase transaction in the accounts payable ledgerarrow_forwardWhat happens after the shipping department verifies that the quantities and descriptions of goods prepared for shipment are consistent with the sales order?arrow_forwardA. Occurrence B. Completeness C. Rights and obligationsD. Allocation or valuationE. ClassificationF. ExistenceG. CutoffH. AccuracyI. UnderstandabilityFor each of the following control activities, identify the management assertion that best applies by placing the correct letter in the blank space below.___ 1. Match shipping documents with sales invoices before a sale is recorded.___ 2. Balance total of individual customers' receivables with the control account.___ 3. Sales manager approves taking discounts.___ 4. Computer check for billing the quantity shipped, list price, and total.___ 5. Account for numerical sequence of pre-numbered shipping documents.arrow_forward
- Describe the flow of data in the purchasing process that is initiated when the purchasing organization issues a check to a vendor in payment of an invoice for merchandise purchase.arrow_forwardA portion of a client’s inventory is in public warehouses. Evidence of the existence of this merchandise can most efficiently be acquired through which of the following methods?a. Observation.b. Confirmation.c. Calculation.d. Inspection.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College Pub
Auditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage Learning
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Auditing: A Risk Based-Approach to Conducting a Q...
Accounting
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:South-Western College Pub
Auditing: A Risk Based-Approach (MindTap Course L...
Accounting
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Cengage Learning