ACC 3385 EXAM 3 QUESTIONS AND CORRECT ANSWERS
100% VERIFIED!!
The authority for receiving incoming shipments of goods and the responsibility for
checking them normally resides with what - ANSWER Receiving department
The authority for approving employee time data normally resides with what - ANSWER
An employees immediate supervisor
What document identifies the products and quantities ordered and gives the warehouse
location, aisle number, shelf position, bin number, or other reference to the location of
the goods - ANSWER Picking ticket
The billing process sends notification to the general ledger process. The result of this
notification is an - ANSWER Increase in sales
Which activity triggers the expenditure/purchasing cycle - ANSWER When a manager
authorizes a purchase requisition and forwards it to the purchasing department
When do cash disbursement activities begin - ANSWER Upon approval of the invoice
The concept behind ____ is to cultivate customer relationships by prospecting,
acquiring, servicing, and retaining customers - ANSWER Customer relationship
management systems
What normally would trigger the billing process in a Billing/Accounts Receivable/Cash
Receipts process - ANSWER Shipping notice
Which documents when sent to the accounts receivable clerk will trigger them to record
the customer payment - ANSWER Remittance advice
, The accounts receivable system typically used by utilities is the - ANSWER
Balance-forward system
A customer is instructed to send his remittance advice and check to a banks postal
address. This method for collecting customer cash receipts is called - ANSWER
Lockbox
The purchasing process activity of "receive goods" normally would be triggered by the
data flow - ANSWER Vendor packing slip
Which of the following techniques analyzes all incremental costs associated with
acquiring and carrying particular items of inventory - ANSWER EOQ models
What most likely would be "blinded" on a copy of the purchase order sent to the
receiving department - ANSWER Quantities
In the process of preparing a receiving report, the receiving department should perform
all of the following tasks - ANSWER Inspect and approve quality
Count the quantity received
Verify the existence of an approved purchase order
The Accounts Payable/Cash Disbursement process of "establish payable" would
normally be triggered by - ANSWER Vendor invoice
Information for evaluation vendor performance normally would reside in the - ANSWER
Vendor master data
Inputs to the Human Resources management process are provided by - ANSWER
Various departments
Employees
100% VERIFIED!!
The authority for receiving incoming shipments of goods and the responsibility for
checking them normally resides with what - ANSWER Receiving department
The authority for approving employee time data normally resides with what - ANSWER
An employees immediate supervisor
What document identifies the products and quantities ordered and gives the warehouse
location, aisle number, shelf position, bin number, or other reference to the location of
the goods - ANSWER Picking ticket
The billing process sends notification to the general ledger process. The result of this
notification is an - ANSWER Increase in sales
Which activity triggers the expenditure/purchasing cycle - ANSWER When a manager
authorizes a purchase requisition and forwards it to the purchasing department
When do cash disbursement activities begin - ANSWER Upon approval of the invoice
The concept behind ____ is to cultivate customer relationships by prospecting,
acquiring, servicing, and retaining customers - ANSWER Customer relationship
management systems
What normally would trigger the billing process in a Billing/Accounts Receivable/Cash
Receipts process - ANSWER Shipping notice
Which documents when sent to the accounts receivable clerk will trigger them to record
the customer payment - ANSWER Remittance advice
, The accounts receivable system typically used by utilities is the - ANSWER
Balance-forward system
A customer is instructed to send his remittance advice and check to a banks postal
address. This method for collecting customer cash receipts is called - ANSWER
Lockbox
The purchasing process activity of "receive goods" normally would be triggered by the
data flow - ANSWER Vendor packing slip
Which of the following techniques analyzes all incremental costs associated with
acquiring and carrying particular items of inventory - ANSWER EOQ models
What most likely would be "blinded" on a copy of the purchase order sent to the
receiving department - ANSWER Quantities
In the process of preparing a receiving report, the receiving department should perform
all of the following tasks - ANSWER Inspect and approve quality
Count the quantity received
Verify the existence of an approved purchase order
The Accounts Payable/Cash Disbursement process of "establish payable" would
normally be triggered by - ANSWER Vendor invoice
Information for evaluation vendor performance normally would reside in the - ANSWER
Vendor master data
Inputs to the Human Resources management process are provided by - ANSWER
Various departments
Employees
