Instructions: This quiz consists of 20 multiple choice que

Instructions: This quiz consists of 20 multiple choice questions and covers the material in Chapters 1 through 3 and 5. There are five questions from each chapter. The questions are in chapter order 4 out of 4 points Which of the following is a primary activity in the value chain? A) infrastructure B) technology C) purchasing D) marketing and sales Question 2 4 out of 4 points The business owners obtain financing from outside investors which results in an inflow of cash into the company. This transaction is considered to be part of which cycle? A) the revenue cycle B) the payroll cycle C) the production cycle D) the financing cycle Question 3 4 out of 4 points Paying federal payroll taxes is part of which transaction cycle? A) Human resources/payroll B) Expenditure C) Financing D) Revenue Question 4 4 out of 4 points The value chain concept is composed of two types of activities known as A) primary and support. B) primary and secondary. C) support and value. D) technology and support. Question 5 4 out of 4 points Groups of related business activities such as the acquisition of merchandise and payment of vendors are called A) transaction cycles. B) economic cycles. C) business events. D) transactions. Question 6 4 out of 4 points Which of the following is an example of source data automation? A) a utility bill B) POS (point-of-sale) scanners in retail stores C) a bill of lading D) a subsidiary ledger Question 7 4 out of 4 points A specialized journal would be most likely to be used to enter A) sales transactions. B) monthly depreciation adjustments. C) annual closing entries. D) stock issuance transactions. Question 8 4 out of 4 points Hector Sanchez works in the accounting department of a multinational manufacturing company. His job includes updating accounts payable based on purchase orders and checks. His responsibilities are part of the company’s A) revenue cycle. B) expenditure cycle. C) financing cycle. D) production cycle. Question 9 4 out of 4 points The issuing of a purchase order is part of which transaction cycle? A) the revenue cycle B) the production cycle C) the human resources cycle D) the expenditure cycle 0 4 out of 4 points In transaction processing generally which activity comes first? A) recording data in a journal B) posting items to special journals C) capturing data on source documents D) recording data in a general ledger 1 4 out of 4 points Most processes on a DFD can be identified by A) data in-flows only. B) data out-flows only. C) data flows both into or out of a process. D) always being followed by a data store. 2 4 out of 4 points In a payroll processing DFD the prepare reports activity will be represented by ________ the employee payroll file will be represented by ________ and the management will be represented by ________. A) a circle; two horizontal lines; a square B) a circle; two horizontal lines; two horizontal lines C) a rectangle; a square; a circle D) a square; two horizontal lines; a circle 3 4 out of 4 points A DFD created at the highest-level or summary view is referred to as a A) process diagram. B) overview diagram. C) content diagram. D) context diagram. 4 4 out of 4 points In a document flowchart of a manual payroll processing system update employee file will be shown by a(n) ________ symbol and prepare payroll check will be shown by a(n) ________ symbol. A) input; output B) input; manual operation C) manual operation; output D) manual operation; manual operation 5 4 out of 4 points In general a data destination will be shown by A) an arrow pointing away. B) an arrow pointing in. C) arrows pointing both ways. D) no arrows only two horizontal lines. 6 4 out of 4 points In a ________ scheme customer receipts are stolen and then subsequent payments by other customers are misapplied to cover the theft of the original receipts. A) kiting B) laundering C) bogus expense D) lapping 7 4 out of 4 points Perhaps the most striking fact about natural disasters in relation to AIS controls is that A) many companies in one location can be seriously affected at one time by a disaster. B) losses are absolutely unpreventable. C) there are a large number of major disasters every year. D) disaster planning has largely been ignored in the literature. 8 4 out of 4 points Which of the following is the best way to hide theft of assets? A) Creating cash through the transfer of money between banks B) Conversion of stolen assets into cash C) Stealing cash from customer A and then using customer Bs balance to pay customer As accounts receivable D) Charging the stolen asset to an expense account 9 4 out of 4 points Why is computer fraud often more difficult to detect than other types of fraud? A) Rarely is cash stolen in computer fraud. B) The fraud may leave little or no evidence it ever happened. C) Computers provide more opportunities for fraud. D) Computer fraud perpetrators are just more clever than other types of criminals. Question 20 4 out of 4 points Most frauds are detected by A) external auditors. B) internal auditors. C) accident. D) hotline tip.

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