| OnlineExams | TestPrep | StudyResources | AcademicSuccess | ExamPreparation | QuizTime | LearningTools | Education | StudentSupport
In today's fast-paced educational landscape, students need reliable resources to excel in their studies.
5.0
AIS Final Questions with Detailed Verified Answers
(100% Correct Answers) /Already Graded A+
1. The information systems audit objective that pertains to source data
being processed into some form of output is known as
A) overall security.
B) program development.
C) program modifications.
D) processing.
Ans: D) processing.
2. In organizations with at least basic segregation of duties, the credit
manager reports to the ________ and the treasurer reports to the
________.
A) controller; vice president of finance
B) treasurer; controller
C) marketing manager; vice president of finance
D) treasurer; vice president of finance
Ans: D) treasurer; vice president of finance
4. What is the primary objective of the revenue cycle?
Sunday, 02 March 2025
,A) to maximize revenue and minimize expense
B) to reduce outstanding accounts receivable balances through
increased cash sales
C) to provide the right product in the right place at the right time at the
right price
D) to sell as much product as possible and/or to maximize service
billings
Ans: C) to provide the right product in the right place at the right time at the
right price
3. The revenue cycle is a recurring set of business activities and related
information processing operations associated with providing goods and
services to customers and collecting cash in payment for those sales.
The basic activities in the revenue cycle are: order entry soliciting and
processing customer activities filling customer orders and shipping
merchandise invoicing customers and maintaining customer accounts
collections the cashier handles remittances and deposits them in the
bank; accounts receivable personnel credits customer accounts for the
payments received.
Ans: The revenue cycle is a reoccurring set of business activities and related
information processing operations associated with providing goods and
Examstudy - Stuvia US
,services to customers and collecting cash in payment for those sales? With
whom is the primary external exchange of information?
5. Which of the following is not a basic activity of the revenue cycle?
A) sales order entry
B) shipping
C) receiving
D) billing
Ans: C) receiving
6. When a customer places an order (on account) for a certain
product, what should be done before the order is checked for
inventory availability?
A) The customer's available credit should be checked.
B) The sales order should be created and written to a file.
C) Shipping should be notified of an order in process.
D) A picking list should be generated for the warehouse.
Ans: A) The customer's available credit should be checked
7. Responding to customer inquiries and general customer service is an
important aspect in the revenue cycle. Since customer service is so
Examstudy - Stuvia US
, important, software programs have been created to help manage this
function. These special software packages are called
A) EDI systems.
B) POS systems.
C) VMI systems.
D) CRM systems.
Ans: D) CRM systems.
8. The best solution for maintaining accurate automated perpetual
inventory system is to use
A) closed-loop verification when inventory is received from vendors
and recorded.
B) point of sale devices integrated with inventory records.
C) periodic physical counts to reconcile with perpetual inventory
records.
D) RFID tags.
Ans: D) RFID tags.
9. Two documents usually accompany goods shipped to a customer.
What are the two documents?
Examstudy - Stuvia US
In today's fast-paced educational landscape, students need reliable resources to excel in their studies.
5.0
AIS Final Questions with Detailed Verified Answers
(100% Correct Answers) /Already Graded A+
1. The information systems audit objective that pertains to source data
being processed into some form of output is known as
A) overall security.
B) program development.
C) program modifications.
D) processing.
Ans: D) processing.
2. In organizations with at least basic segregation of duties, the credit
manager reports to the ________ and the treasurer reports to the
________.
A) controller; vice president of finance
B) treasurer; controller
C) marketing manager; vice president of finance
D) treasurer; vice president of finance
Ans: D) treasurer; vice president of finance
4. What is the primary objective of the revenue cycle?
Sunday, 02 March 2025
,A) to maximize revenue and minimize expense
B) to reduce outstanding accounts receivable balances through
increased cash sales
C) to provide the right product in the right place at the right time at the
right price
D) to sell as much product as possible and/or to maximize service
billings
Ans: C) to provide the right product in the right place at the right time at the
right price
3. The revenue cycle is a recurring set of business activities and related
information processing operations associated with providing goods and
services to customers and collecting cash in payment for those sales.
The basic activities in the revenue cycle are: order entry soliciting and
processing customer activities filling customer orders and shipping
merchandise invoicing customers and maintaining customer accounts
collections the cashier handles remittances and deposits them in the
bank; accounts receivable personnel credits customer accounts for the
payments received.
Ans: The revenue cycle is a reoccurring set of business activities and related
information processing operations associated with providing goods and
Examstudy - Stuvia US
,services to customers and collecting cash in payment for those sales? With
whom is the primary external exchange of information?
5. Which of the following is not a basic activity of the revenue cycle?
A) sales order entry
B) shipping
C) receiving
D) billing
Ans: C) receiving
6. When a customer places an order (on account) for a certain
product, what should be done before the order is checked for
inventory availability?
A) The customer's available credit should be checked.
B) The sales order should be created and written to a file.
C) Shipping should be notified of an order in process.
D) A picking list should be generated for the warehouse.
Ans: A) The customer's available credit should be checked
7. Responding to customer inquiries and general customer service is an
important aspect in the revenue cycle. Since customer service is so
Examstudy - Stuvia US
, important, software programs have been created to help manage this
function. These special software packages are called
A) EDI systems.
B) POS systems.
C) VMI systems.
D) CRM systems.
Ans: D) CRM systems.
8. The best solution for maintaining accurate automated perpetual
inventory system is to use
A) closed-loop verification when inventory is received from vendors
and recorded.
B) point of sale devices integrated with inventory records.
C) periodic physical counts to reconcile with perpetual inventory
records.
D) RFID tags.
Ans: D) RFID tags.
9. Two documents usually accompany goods shipped to a customer.
What are the two documents?
Examstudy - Stuvia US
