AIN2601 Assessment 3

AIN2601 Assessment 3 Test
Prep 1
Grade 36.00 out of 40.00 (90.0%)
Question 1
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When we purchase inventory items, we generally enter the stock item _______ on
the supplier invoice.



1.
account


2.
category


3.
number


4.
code



Question 2
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, Question text
Which of the following is an advantage of capturing transactions into source
documents?
1.
less errors
2.
more details
3.
more accuracy
4.
no errors
Question 3
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Question text
Which of the following cannot be identified by a bank reconciliation?



1.
fraud
2.
losses
3.
omissions
4.
errors
Question 4
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, Editing a supplier’s terms on the system is an example of a business activity that
will modify nonfinancial data which has a direct influence on the processing of
financial transaction.
Select one:
True
False
Question 5
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Upon receipt of inventory items ordered the organisation needs to compare the
supplier’s delivery note to the organisation’s own purchase order.
Select one:
True
False
Question 6
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Question text
Appropriate general ledger accounts and subaccounts can link the various
inventory ________ to those general ledger accounts.



1.
groups
2.
transactions
3.
items
4.
categories