Fin Information Systems FINAL

Control document for cash receipts

Remittance advice

Untrue regarding the balance forward method of accounting for accounts receivale

Invoice records remain int he open invoice file until payment is received

If customers payment is delayed for an excessive period of time, what is the appropriate notice to send

A dun

Why are audit trails for purchasing process somewhat more complicated than those for revenue process

Purchase process may involve two journal entries often made at different times

What initiates a bidding situation among suppliers

Request for quotation and proposal

After an organization compares the vendor invoice with purchase order data and receiving data, the invoice data is then keyed into what file

Open invoice file

What report is essential to organizations using “just in time” operations to minimize inventory

Inventory and PO aging report

What is not a common inventory problem for mercantile organization

Determining the lead time for products

What is not owned by the A/R application in a conventional accounting system

Vendor Master File

For software packages, what is the equivalent term for accounts in subsidiary ledger

Sub-Accounts

Processing feature unique to general ledger module is one that allows the altering of recorded transactions if they have not been permanently posted is what feature

Provisional and pencil posting

What control can prevent an error of transporting two numbers in numeric code

Self-checking digit

Core activity of an accounting information system

The financial process

What is part of the financial process because it’s an event that doesn’t fall into rev, purchasing, or inventory processing

Payment of stock dividends

If a transaction is rejected because the sales rep whose ID number appeared on the record no longer works there, then what control detected the error

Valid code check

A clerk accidentally types the letter “l” (lowercase L) instead of 1 in the inventory code. What control can detect the error

Valid data type

Payroll clerk accidentally types an extra 0 at the end of the work-week field paying the employee an extra 400 hours accidentally. What control can detect this error

Reasonableness of amount

Customer account involving low volume transactions and large transaction amounts, it is more likely the account is set up as an

Open item account

Where does most of the data entry for inventory occur

In the procurement and revenue processes

What software expands an organizations reach outside to suppliers and customers

Supply chain management systems

What are the attributes of “big data” (V’s)

Velocity, variety, volume

What is PII

Personally Identifiable Information

What is primarily concerned with providing the user with hardware resources

laaS

Framework of policies ensuring that the organizations users have access to resources needed to perform their job functions

Identify and asset management

IoT devices are particularly vulnerable to _______ threats

Security

Firms look where when looking for solutions to problems with help desk processes

ITIL

What are the first major use for Blockchain Tech

Bitcoin

What is not an IT governance framework

Dodd-Frank