Accounting Info Systems WileyPlus CH 12 Verified Exam Questions
and Answers Latest update 2026/2027
Question:
An entrepeneur creates custom-made diffuser jewelry pieces and sells them on a website for other
essential oil enthusiasts like themselves. Is this a B2B or B2C transaction and why?
Answer:
B2C transaction, because the webpage is considered a small business and they all use it to sell
products to customers
Question:
Mrs. P's Shop sells cakes and other baked goods directly to their customers via a mobile app. This is
an example of which kind of sale?
Answer:
business-to-consumer
Question:
During the holiday season, Sweets & More places more orders than usual from their mini cookie
vendor to fulfill their holiday baskets. At the end of the season, the manager sends out payment for the
mini-cookies. Which of the following source documents would be sent along with the payment?
Answer:
remittance advice
Question:
As the owner of Wild & Root Cafe you want to sell organic products made by small businesses that
align with your vision and passion. You hire an assistant to find the small businesses and get their
products into the Cafe. Organize the steps from beginning to end to ensure this process runs smoothly.
Answer:
negotiate the price, check creditworthiness, draw up the sales contract, and onboard the customer
Question:
What is the difference between a bank remittance report and a deposit slip?
Answer:
A bank remittance report lists the checks received from customers, and a deposit slip is proof of the
amount deposited into the company's bank account.
,Question:
With revenue trending down over the last few months, your boss has asked you to run a report that
will give a summary of revenue brought in. It will be used to try and identify when this downward
trend started and to try to get an idea of how to fix it. Which report should you run to provide your
boss with this information?
Answer:
revenue over time
Question:
Mary's Bakery orders cookies on February 20th, schedules delivery for March 20th, and pays cash in
advance. The selling price is $350 and the cost of the cookies is $100. The cookies are delivered on
March 20th. What is the journal entry required for the second transaction in this scenario?
Answer:
debit Deferred Revenue for $350; credit Sales for $350 on March 20th
Question:
The marketing, sales, and collections business processes involve features from the Customer
Relationship Management, Sales Management, and _________ modules of the ERP system.
Answer:
Financial
Question:
Business rules determine the type of relationships between tables in a relational database. Which of
the following is a business rule between both the Sales_Order table and Shipment table and the
Sales_Order table and AR_Invoice table?
Answer:
An invoice must belong to one and only one sales order.
Question:
Which of the following is data that is generated by the sales process?
Answer:
customer information
Question:
Collusion between salespersons and customers, which results in the salesperson receiving kickbacks
or other rewards for selling at a discounted price to the customer, is a _______ fraud risk in this area.
Answer:
significant
, Question:
There are a couple of reasons that a sales order may not result in a shipment or an invoice. Which
reason below would make the most sense as to why this happened?
Answer:
a company has discontinued a product Sweets & More launched a new frozen cookie dough and due to
high traffic and large orders, the website crashed. You are afraid some of the orders didn't make it to
the warehouse when the
Question:
website crashed. Which sales report could you run to determine if this occurred?
Answer:
sales orders filled and open
Question:
Your boss has asked you for a summary of historical revenue either by product type or sales channel
type. What type of report should you run to provide your boss with this information?
Answer:
type of revenue
Question:
Ben is a new hire with Sweets & More who will be working in customer service. Ben was shown how
to navigate the ERP system today and was feeling a bit overwhelmed by all of the data. What feature
will Ben need to master for the customer service role?
Answer:
customer management
Question:
Responsibilities for credit terms and checks should be independent of sales, the general ledger, and
which other factor?
Answer:
accounts receivable
Question:
Which of the following is an example of a retail customer?
Answer:
Target selling Pillsbury refrigerated cookie dough
and Answers Latest update 2026/2027
Question:
An entrepeneur creates custom-made diffuser jewelry pieces and sells them on a website for other
essential oil enthusiasts like themselves. Is this a B2B or B2C transaction and why?
Answer:
B2C transaction, because the webpage is considered a small business and they all use it to sell
products to customers
Question:
Mrs. P's Shop sells cakes and other baked goods directly to their customers via a mobile app. This is
an example of which kind of sale?
Answer:
business-to-consumer
Question:
During the holiday season, Sweets & More places more orders than usual from their mini cookie
vendor to fulfill their holiday baskets. At the end of the season, the manager sends out payment for the
mini-cookies. Which of the following source documents would be sent along with the payment?
Answer:
remittance advice
Question:
As the owner of Wild & Root Cafe you want to sell organic products made by small businesses that
align with your vision and passion. You hire an assistant to find the small businesses and get their
products into the Cafe. Organize the steps from beginning to end to ensure this process runs smoothly.
Answer:
negotiate the price, check creditworthiness, draw up the sales contract, and onboard the customer
Question:
What is the difference between a bank remittance report and a deposit slip?
Answer:
A bank remittance report lists the checks received from customers, and a deposit slip is proof of the
amount deposited into the company's bank account.
,Question:
With revenue trending down over the last few months, your boss has asked you to run a report that
will give a summary of revenue brought in. It will be used to try and identify when this downward
trend started and to try to get an idea of how to fix it. Which report should you run to provide your
boss with this information?
Answer:
revenue over time
Question:
Mary's Bakery orders cookies on February 20th, schedules delivery for March 20th, and pays cash in
advance. The selling price is $350 and the cost of the cookies is $100. The cookies are delivered on
March 20th. What is the journal entry required for the second transaction in this scenario?
Answer:
debit Deferred Revenue for $350; credit Sales for $350 on March 20th
Question:
The marketing, sales, and collections business processes involve features from the Customer
Relationship Management, Sales Management, and _________ modules of the ERP system.
Answer:
Financial
Question:
Business rules determine the type of relationships between tables in a relational database. Which of
the following is a business rule between both the Sales_Order table and Shipment table and the
Sales_Order table and AR_Invoice table?
Answer:
An invoice must belong to one and only one sales order.
Question:
Which of the following is data that is generated by the sales process?
Answer:
customer information
Question:
Collusion between salespersons and customers, which results in the salesperson receiving kickbacks
or other rewards for selling at a discounted price to the customer, is a _______ fraud risk in this area.
Answer:
significant
, Question:
There are a couple of reasons that a sales order may not result in a shipment or an invoice. Which
reason below would make the most sense as to why this happened?
Answer:
a company has discontinued a product Sweets & More launched a new frozen cookie dough and due to
high traffic and large orders, the website crashed. You are afraid some of the orders didn't make it to
the warehouse when the
Question:
website crashed. Which sales report could you run to determine if this occurred?
Answer:
sales orders filled and open
Question:
Your boss has asked you for a summary of historical revenue either by product type or sales channel
type. What type of report should you run to provide your boss with this information?
Answer:
type of revenue
Question:
Ben is a new hire with Sweets & More who will be working in customer service. Ben was shown how
to navigate the ERP system today and was feeling a bit overwhelmed by all of the data. What feature
will Ben need to master for the customer service role?
Answer:
customer management
Question:
Responsibilities for credit terms and checks should be independent of sales, the general ledger, and
which other factor?
Answer:
accounts receivable
Question:
Which of the following is an example of a retail customer?
Answer:
Target selling Pillsbury refrigerated cookie dough
