ACCOUNTING INFORMATION SYSTEMS 4TH
EDITION ACTUAL QUESTIONS AND CORRECT
ANSWERS
◉ business process =
Answer: sequence of work steps performed in order to produce a
desired result for the organization
◉ aspects of a business process (3):
Answer: 1.) it's initiated by a certain kind of event
2.) it has a well-defined beginning and end
3.) it's usually completed in relatively short period
◉ each business process has either a ___ or ___ effect on financial
statements in the organization
Answer: direct or indirect effect
◉ 4 general types of business processes in organization:
Answer: 1.) revenue processes
2.) expenditure processes
3.) conversion processes
4.) administrative processes
,◉ revenue processes include 3 processes:
Answer: 1.) sales
2.) sales return
3.) cash collection
◉ expenditure processes include 5 processes:
Answer: 1.) purchasing
2.) purchase return
3.) cash disbursement
4.) payroll
5.) fixed asset
◉ conversion processes include 3 processes:
Answer: 1.) planning
2.) resource management
3.) logistics
◉ administrative processes include 3 processes:
Answer: 1.) capital
2.) investment
3.) general ledger
, ◉ organisations implement ____ processes into their work steps to
avoid errors and fraud
Answer: internal control processes
◉ internal controls are:
Answer: set of procedures and policies adopted to safeguard assets,
check accuracy and reliability of data, to promote operational
efficiency, and to encourage adherence to prescribed managerial
practices
◉ circles represent:
Answer: many business processes that occur in an organization
◉ output reports:
Answer: feedback that managers use to monitor and control the
business processes
◉ supply chain:
Answer: entities, processes, and information flows that involve the
movement of materials, funds, and related information through the
full logistics process
◉ the supply chain starts from:
EDITION ACTUAL QUESTIONS AND CORRECT
ANSWERS
◉ business process =
Answer: sequence of work steps performed in order to produce a
desired result for the organization
◉ aspects of a business process (3):
Answer: 1.) it's initiated by a certain kind of event
2.) it has a well-defined beginning and end
3.) it's usually completed in relatively short period
◉ each business process has either a ___ or ___ effect on financial
statements in the organization
Answer: direct or indirect effect
◉ 4 general types of business processes in organization:
Answer: 1.) revenue processes
2.) expenditure processes
3.) conversion processes
4.) administrative processes
,◉ revenue processes include 3 processes:
Answer: 1.) sales
2.) sales return
3.) cash collection
◉ expenditure processes include 5 processes:
Answer: 1.) purchasing
2.) purchase return
3.) cash disbursement
4.) payroll
5.) fixed asset
◉ conversion processes include 3 processes:
Answer: 1.) planning
2.) resource management
3.) logistics
◉ administrative processes include 3 processes:
Answer: 1.) capital
2.) investment
3.) general ledger
, ◉ organisations implement ____ processes into their work steps to
avoid errors and fraud
Answer: internal control processes
◉ internal controls are:
Answer: set of procedures and policies adopted to safeguard assets,
check accuracy and reliability of data, to promote operational
efficiency, and to encourage adherence to prescribed managerial
practices
◉ circles represent:
Answer: many business processes that occur in an organization
◉ output reports:
Answer: feedback that managers use to monitor and control the
business processes
◉ supply chain:
Answer: entities, processes, and information flows that involve the
movement of materials, funds, and related information through the
full logistics process
◉ the supply chain starts from:
