ACC 100: Accounting Information System Students Activity Sheet #17

Play an AI-generated podcast conversation about this lesson

In an accounting information system, what occurs during the authorization of a cash disbursement?

Matching of purchase order, receiving report, and invoice (correct)

Approval of employee payroll

Preparation of financial statements

Inventory management

What strengthens the internal controls in a company according to the given text?

Automating only the cash disbursements process

Creating multiple layers of management

Outsourcing all accounting processes

Having the same individuals complete purchasing, receiving, accounts payable, and cash disbursements processes (correct)

What is necessary for an automated matching system used in accounting information systems?

No specific requirements

Manual matching of documents

All relevant files must be online or in databases (correct)

Physical copies of all documents must be submitted

Who should be given the responsibility for authorizing actual payments in an accounting information system?

Designated members of management Signup and view all the answers

What is an advantage of a batch General Ledger System (GLS)?

Updates and reconciliation of transactions occur as a step within the transaction cycle Signup and view all the answers

What is a characteristic of the Management Reporting System (MRS)?

The MRS focuses on internal decision-making information Signup and view all the answers

Which statement about authority is not true?

Authority refers to an individual’s obligation to achieve desired results Signup and view all the answers

What is true about the manager’s span of control?

It is narrow for routine and repetitive tasks Signup and view all the answers

Which document describes the chain of events within a company's conversion process?

Capital budgeting document describing the chain of events within a conversion process Signup and view all the answers

What is the purpose of preparing the unadjusted trial balance?

To ensure that debits equal credits Signup and view all the answers

Which account appears on the post-closing trial balance?

Income summary Signup and view all the answers

From where are financial statements prepared?

Adjusted trial balance Signup and view all the answers

ACC 100: Accounting Information System Students Activity Sheet #17

Podcast Beta

Questions and Answers

In an accounting information system, what occurs during the authorization of a cash disbursement?

What strengthens the internal controls in a company according to the given text?

What is necessary for an automated matching system used in accounting information systems?

Who should be given the responsibility for authorizing actual payments in an accounting information system?

What is an advantage of a batch General Ledger System (GLS)?

What is a characteristic of the Management Reporting System (MRS)?

Which statement about authority is not true?

What is true about the manager’s span of control?

Which document describes the chain of events within a company's conversion process?

What is the purpose of preparing the unadjusted trial balance?

Which account appears on the post-closing trial balance?

From where are financial statements prepared?

More Quizzes Like This

ACC 202 Ch.6 Flashcards

ACC 202 Chapter 5 Flashcards

ACC 200 Exam 2 Flashcards

ACC 219 Chapter 15 Flashcards

Upgrade to continue