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Question
Which of the following forms of internal control relies most heavily on human judgment?
a. Preparing a trial balance.
b. Enforcing transaction limits.
c. Numbering documents sequentially.
d. Locking a filing cabinet.
Answer
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Related questions
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Glenda is the membership director of her university's accounting honor society. She is interested in developing an event-driven accounting information system for the club, and has developed the REAL model below as a start. Memberships in the honor society expire at the end of each academic year; members must have their grades verified each year until they graduate. The club has at least two advisors each academic year. List the steps (in order) Glenda should follow to develop the club's event-driven accounting information system.
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Database creation
Note to instructor: this problem builds on Problem 9. If you wish to focus solely on database creation without asking students to create the REAL model, copy the REAL model from the solution into the exam. Based on the REAL model you created above, specify the structure of two database tables. If a junction table is indicated by the REAL model, one of the tables must be based on it. Indicate primary keys by underlining and foreign keys with brackets.
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How many tables will be required in the database for the REAL model above?a. Three.b. Six.c. Eight.d.Some other number.
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In a REAL model, the main difference between "internal" and "external" agents is:a. Internal agents do not require a database table.b. External agents do not require a database table.c. Their relationship to the organization.d. Their location in the REAL model.
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Which of the following types of data is least likely to be collected in an event-driven accounting information system?a. Customer name.b. Accounts to debit and credit.c. Employee name.d. Purchase order number.
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___ events can focus on both simple and complex phenomena.a. Operating.b. Information.c. Recording.d. Decision/management.
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Database creation
AMB Corporation wants to create database tables to track its purchases of inventory. Several fields are listed below; organize them into three normalized database tables. Indicate primary keys by underlining and foreign keys with brackets. Some of the fields may be used more than once; some may not be used at all.
a. Vendor ID.
b. Units on hand.
c. Transaction ID.
d. Total amount due to vendor.
e. Selling price per unit.
f. Purchasing agent ID.
g. Number of units purchased.
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i. Inventory description.
j. Date of purchase.
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l. Average cost per unit.
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A relational database contains four tables: vendor, inventory, purchasing agent and purchases. Which of the following statements is least true?a. The purchases table will have two foreign keys.b. The purchases table will have three foreign keys.c. The purchasing agent table will have a compound primary key.d. The database will also need at least one junction table.
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"Customer information" enters a business process in a Level Zero data flow diagram. For the associated Level One diagram to be balanced, "customer information" must:a. Leave the last business process.b. Have a different name.c. Enter a business process with the same name.d. Be an input to the first process on Level One.
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Which of the following symbols would you find in a flowchart, but not in a data flow diagram?a. Circle.b. Line.c. Triangle.d. Number.
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Which of the following is not an appropriate label for an arrow in a data flow diagram?a. Customer information.b. Credit decision.c. Process application.d. Inventory database.
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Flowcharts are organized in _____, while DFDs are organized in _____.a. Columns, leveled sets.b. Columns, rows.c. Rows, leveled sets.d. Rows, columns.
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Databases in a data flow diagram are represented by:a. Parallel lines.b. Rectangles.c. Triangles.d. Circles.
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Accounting and bookkeeping comparison
Indicate whether each of the following statements applies to: (a) accounting alone, (b) bookkeeping alone, (c) both accounting and bookkeeping or (d) neither accounting nor bookkeeping.
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_____ Primarily involves cyclical activities
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