GoConqr has a new look! Let us know what you think.

Sign up free

Quiz

Chapter 1 - Quiz 3

Mahmoud Hemood 12 questions

Take the quiz

Questions in this quiz (12)

  1. 117) In which transaction cycle would information for initiating back orders for out of stock
    goods be most likely to pass between internal and external accounting information systems?
    1. AA) the revenue cycle
    2. BB) the expenditure cycle
    3. CC) the human resources / payroll cycle
    4. DD) the financing cycle
  2. 218) Identify the party below that is not external to the firm.
    1. AA) customer
    2. BB) vendor
    3. CC) government agencies
    4. DD) CEO
  3. 319) Identify the party below that is not internal to the firm.
    1. AA) customer
    2. BB) management
    3. CC) employees
    4. DD) CEO
  4. 420) Receiving goods from vendors is part of which cycle?
    1. AA) the revenue cycle
    2. BB) the financing cycle
    3. CC) the expenditure cycle
    4. DD) the payroll cycle
  5. 521) The ________ is not a transaction cycle.
    1. AA) general ledger and reporting cycle
    2. BB) expenditure cycle
    3. CC) revenue cycle
    4. DD) human resources cycle
  6. 622) Identify the false statement below.
    1. AA) Retail stores do not have a production cycle.
    2. BB) Financial institutions have installment-loan cycles.
    3. CC) Every organization should implement every transaction cycle module.
    4. DD) A service company does not have an inventory system
  7. 723) Transaction cycles can be summarized on a high level as "give-get" transactions. An example
    of "give-get" in the revenue cycle would be
    1. AA) give cash, get goods.
    2. BB) give goods, get cash.
    3. CC) give cash, get labor.
    4. DD) give cash, get cash.bed above?
  8. 824) Groups of related business activities such as the acquisition of merchandise and payment of vendors are called
    1. AA) transaction cycles.
    2. BB) economic cycles.
    3. CC) business events.
    4. DD) transactions
  9. 925) The transaction cycle that includes product design is known as the
    1. AA) revenue cycle.
    2. BB) expenditure cycle.
    3. CC) production cycle.
    4. DD) financing cycle
  10. 1026) The transaction cycle approach yields efficiencies when processing of a large number of transactions because
    1. AA) a large number of transactions within a given cycle can be categorized into a relatively small number of distinct types.
    2. BB) transaction cycles are easier to computerize.
    3. CC) the transaction cycle approach represents the natural order of business.
    4. DD) transaction cycles are easy to understand.

Information

Description
AIS - 166 Quiz on Chapter 1 - Quiz 3, created by Mahmoud Hemood on 15/10/2019.
Language
English
Views
0
Rating
No ratings yet
Rate this quiz
Rate this quiz

Feedback

What is it about?

What do you think of the new look?

How do you like it?