Quiz
ACC 321 Final
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Questions in this quiz (84)
1An accounting information system is:
- a set of interrelated activities, [blank_start]documents[blank_end], and technologies
- designed to [blank_start]collect[blank_end] data, process it, and report information
- to a diverse group of internal and external [blank_start]decision[blank_end] makers in organizations- Adocuments
- Bcollect
- Cdecision
2Activities:
- business processes: sales collection, acquisition/payment, conversion, financing, human resource
- [blank_start]accounting[blank_end] cycle steps
Documents:
- purchase orders
- remittance advices
- shipping documents
Technologies:
- general ledger software
- erp systems- Aaccounting
3Difference between data and information: information is processed data.
- ATrue
- BFalse
4What are the five generic elements of AIS structure?
- AInput
- BProcess
- COutput
- DStorage
- EInternal Control
- FData
- GConceptual Framework
- HInformation
- IERM
- JMachine Learning
5Input: source [blank_start]documents[blank_end]
Process: steps in [blank_start]accounting[blank_end] cycle
- tools
- manual, computer-based, both
- software, hardware
Output: fs or internal reports like variance analyses
Storage: paper form or [blank_start]electronically[blank_end]
Internal controls: controls necessary for information integrity
- separation of duties
- daily backup of data- Adocuments
- Baccounting
- Celectronically
6Master file:
- people, places, things
- e.g. customer file, product file, store file
- compare to [blank_start]nouns[blank_end]
- relatively [blank_start]permanent[blank_end] records
Transaction file:
- actions/events
- e.g. contained data like the price, the discount, payment method
- compare to [blank_start]verbs[blank_end]
- records are highly [blank_start]volatile[blank_end]- Anouns
- Bpermanent
- Cverbs
- Dvolatile
7Information literacy (information competence) - the ability to find, evaluate, use, and communicate [blank_start]information[blank_end] in all of its various formats
- Ainformation
8UMUC criteria for evaluating information:
- authority: who [blank_start]created[blank_end] it? why?
- accuracy: [blank_start]source[blank_end] identified? is the information accurate? is it based solely on the author's [blank_start]opinion[blank_end]?
- objectivity: does it include [blank_start]advertising[blank_end]? is it available freely?
- currency: how [blank_start]old[blank_end] is the information? when updated?
- coverage: is the source still under construction? does it cover the subject with sufficient [blank_start]depth[blank_end]?- Acreated
- Bsource
- Copinion
- Dadvertising
- Eold
- Fdepth
9Coding systems - methods for identifying source [blank_start]documents[blank_end] for easier reference later
- Adocuments
10What are the four broad types of coding systems?
- Asequential
- Bblock
- Chierarchical
- Dmnemonic
- Ealphabetical
- Fnumerical
- Guniversal
11Sequential: documents are numbered in sequence; checks in your checkbook
Block: numbers are assigned in blocks
-each block is [blank_start]reserved[blank_end] for a particular kind of account
-first digit specifies a group
-chat of accounts
Hierarchical: groups of digits have meaning
Mnemonic: code is a reminder of its meaning; accounting [blank_start]certifcations[blank_end]- Areserved
- Bcertifcations
12Internal control - a process effected to provide reasonable [blank_start]assurance[blank_end] regarding the achievement of objectives relating to operations, reporting, and compliance.
Process
- internal control is not a list of rules or boxes to check off
- subject to process [blank_start]improvement[blank_end]
- judgement and experience
- periodically review controls- Aassurance
- Bimprovement
13Effected by various groups:
- internal control is the responsibility of the whole [blank_start]organization[blank_end], not the sole responsibility of accounting professionals
- requires discussion during the design, implementation, and evaluation
- subject to cost/benefit constraint
Reasonable assurance:
- no internal control ever provides [blank_start]absolute[blank_end] assurance
- the benefits of a control must outweigh its costs
- rely on the common sense and professional judgement- Aorganization
- Babsolute
14Business objectives relating to:
- operations: business [blank_start]processes[blank_end], such as the sales/collection process
- reporting: financial, tax, internal
- compliance: applicable laws & regs, such as SOX, FCPA- Aprocesses
15Internal Control Purposes:
- safeguard [blank_start]assets[blank_end], such as depositing cash daily in the bank
- ensure reliable financial [blank_start]reporting[blank_end], such as through financial statement audits
- promote operating [blank_start]efficiency[blank_end], such as with a procedures manual
- encourage compliance with [blank_start]management[blank_end] directives, such as by appropriate training & performance reviews- Aassets
- Breporting
- Cefficiency
- Dmanagement
16What are the four major categories of risk?
- Afinancial
- Boperational
- Cstrategic
- Dhazard
- Enumeric
- Ftheft
- Gbankruptcy
- Hdeath
17Financial risk: monetary activities
Market risk: changes in a company's [blank_start]stock[blank_end] prices, investment values, and interest rates
Credit risk: associated with customers' [blank_start]unwillingness[blank_end] or inability to pay amounts owed to the organization
Liquidity: the possibility that a company will not have sufficient cash and near-cash assets available to meet its [blank_start]short[blank_end]-term obligations- Astock
- Bunwillingness
- Cshort
18Operational risk: people, assets, and tech
System risk: relates directly to IT
Human error risk: the possibility that [blank_start]people[blank_end] in the organization will make mistakes- Apeople
19Strategic risk: decision-making processes at the senior management and BOD level
Legal and regulatory risk: the chance that [blank_start]senior[blank_end] management in the organization may break laws that result in financial, legal, or operational sanctions
Business strategic risk: poor [blank_start]decision[blank_end] making related to a company's basis for competing in its markets- Asenior
- Bdecision
20Hazard risk: director' and officers' liability risk
Directors and officers (personal) are accused of [blank_start]mismanagement[blank_end] by shareholders, government agencies, employees, and other stakeholders.
A legal action brought fo alleged wrongful acts.- Amismanagement
21What are the five components of the COSO framework?
- Acontrol environment
- Brisk assessment
- Ccontrol activities
- Dinformation and communication
- Emonitoring
- Ftechnology
- Gmarkets
- Hconsumers
- Ilegal regulations
22Control environment:
- gov't overall [blank_start]attitude[blank_end] about internal control
- must be established at the [blank_start]top[blank_end] of the organization
- often called the tone at the top- Aattitude
- Btop
23Risk assessment:
- organization's risk exposure
- tools like brown framework can help ensure all bases are covered
- likelihood & [blank_start]impact[blank_end]
Control activities
- specific [blank_start]internal[blank_end] controls to address risks
- preventive/[blank_start]detective[blank_end]/corrective
- a control may address multiple risks; a single risk may involve multiple controls- Aimpact
- Binternal
- Cdetective
24Information and communication:
- how the entire internal control plan is [blank_start]disseminated[blank_end] throughout the organization
- link all components
- relates to the plan in its [blank_start]totality[blank_end]
Monitoring:
- ensuring the plan's ongoing [blank_start]effectiveness[blank_end]
- may be entrusted to the internal audit department- Adisseminated
- Btotality
- Ceffectiveness
25ERM - a process effected in a [blank_start]strategy[blank_end] setting designed to identify potential events and manage risk to be within its risk [blank_start]appetite[blank_end] to provide reasonable [blank_start]assurance[blank_end] regarding the achievement of entity objectives.
- Astrategy
- Bappetite
- Cassurance
26IC vs ERM
- IC is an important part of ERM
- complements ERM
- ERM is applied from strategy through [blank_start]execution[blank_end], while relying on internal control at [blank_start]critical[blank_end] junctures.
- each raises the value of the other, when used together they're powerful [blank_start]complements[blank_end] in supporting management
- helps in developing the objective used as a basis for developing controls while IC makes ERM more effective when control activities are in place over risk responses and other ERM processes- Aexecution
- Bcritical
- Ccomplements
27Internal control:
- puts controls to support efforts needed to execute that strategy
- call for IC for [blank_start]identification[blank_end] and response to the most critical risks associated with the strategy- Aidentification
28Governance and Culture:
- sets the organization's [blank_start]tone[blank_end], reinforcing the importance of, and establishing responsibilities
Strategy and Objective-Setting:
- risk [blank_start]appetite[blank_end] is established and aligned with strategy
- business objectives put strategy into practice while serving as a basis for identifying, assessing, and responding to risk- Atone
- Bappetite
29Performance:
- risks that may impact achievement of strategy and business objectives need to be [blank_start]identified[blank_end] and assessed
- risks are prioritized by [blank_start]severity[blank_end] in severity in the context of risk appetite
- selects risk and takes a [blank_start]portfolio[blank_end] view of the amount of risk it has assumed
- results are reported to key risk stakeholders- Aidentified
- Bseverity
- Cportfolio
30Review and Revision:
-by reviewing entity performance, an organization can consider how well the enterprise risk management components are functioning over time and in light of substantial changes, and what [blank_start]revisions[blank_end] are needed- Arevisions
31Information, communication, reporting:
ERM requires a [blank_start]continual[blank_end] process of obtaining and sharing necessary information, from both internal and external sources, which flows up, down, and across the organization- Acontinual
32Business process management:
- a systematic approach to analyzing, redesigning, improving, and managing a specific [blank_start]process[blank_end]- Aprocess
331. Select the process and define its [blank_start]boundaries[blank_end]
- established in two ways: naming the exact process itself and by limiting it to a specific geographic region
2. Observe, document, and map the process [blank_start]steps[blank_end] and flow
3. [blank_start]Collect[blank_end] process related data
4. [blank_start]Analyze[blank_end] the collected data
5. Identify and prioritize potential process [blank_start]improvements[blank_end]
6. [blank_start]Optimize[blank_end] the process
-redis the new process based on suggested improvements from the prioritized list
7. Implement and monitor process [blank_start]improvements[blank_end]- Aboundaries
- Bsteps
- CCollect
- DAnalyze
- Eimprovements
- FOptimize
- Gimprovements
34Expectancy theory: three elements, motivation is the product of the three
Expectancy: effort will lead to [blank_start]accomplishment[blank_end]
Instrumentality: accomplishment leads to [blank_start]reward[blank_end]
Valence: the importance that the individual places upon the [blank_start]reward[blank_end]
Motivation=expectancy x instrumentality x valence- Aaccomplishment
- Breward
- Creward
35SDLC - a structured methodology for developing information systems
Advantages:
- well structured
- user input
- strong [blank_start]control[blank_end]
Disadvantages:
- rigid
- time [blank_start]consuming[blank_end]
- costly
- inflexible- Acontrol
- Bconsuming
36SDLC steps:
1. Initiation/planning - a need for a new/revised system is [blank_start]identified[blank_end].
2. Requirements analysis - Analysts determine what [blank_start]needs[blank_end] the system should meet
3. Design - designers develop the first concept sketches of the system
4. Build - based on the design specifications, systems professionals build the system
5. Test - Users test the system and provide [blank_start]feedback[blank_end] on what works and what doesn't work
6. Implementation - system goes live
7. Operations & maintenance - the system is operated and maintained which includes needed [blank_start]modifications[blank_end]- Aidentified
- Bneeds
- Cfeedback
- Dmodifications
37CMM - aim is to [blank_start]improve[blank_end] existing software development processes
- developed by Watts Humphreys
- five levels
- initially used to evaluate the sophistication of business processes in government contractors- Aimprove
38Level 1: Chaotic
- business processes are not [blank_start]standardized[blank_end] (disorganized)
- individuals develop their own processes, but they do not [blank_start]share[blank_end] them with others
- success is not replicable
Level 2: Repeatable
- basic project management techniques are established
- involve major [blank_start]milestones[blank_end] and specific deliverables
- may yield consistent results over time- Astandardized
- Bshare
- Cmilestones
39Level 3: Defined
- business processes are developed based on broader [blank_start]organizational[blank_end] standards
- described in more detail
Level 4: Managed
- processes are measured, use of metrics to evaluate [blank_start]performance[blank_end]- Aperformance
- Borganizational
40Level 5: Optimized
- processes and metrics are collected
- big picture of [blank_start]improvement[blank_end]
- continuous improvement through monitoring [blank_start]feedback[blank_end] from current processes and introducing innovative processes
- address common causes of process delay and variations- Aimprovement
- Bfeedback
41Systems flowchart:
- provide a big [blank_start]picture[blank_end] overview of a system
- often used in AIS to understand business processes
- combine all resources with related processes
- as part of an [blank_start]audit[blank_end]
Document flowcharts:
- track the flow of [blank_start]documents[blank_end] through an information system
- sometimes used in AIS to check & improve document processing- Apicture
- Baudit
- Cdocuments
42Hardware flowcharts:
- show the relationships between [blank_start]hardware[blank_end] elements
- occasionally used in AIS to understand network components
- form of internal control
- basis for changing network configuration
Program flowcharts:
- show the logic/rules associated with a [blank_start]computer[blank_end] program
- almost never used in AIS- Ahardware
- Bcomputer
43Symbols
Data: symbols for databases and [blank_start]documents[blank_end]
Process: symbols for [blank_start]actions[blank_end]
Line: symbol for following the flow
Special: various symbols, such as terminators and page connectors- Adocuments
- Bactions
44Label the flowchart symbols.
- AAnnotation
- Bfile
- Con page connector
- Doff page connector
- Edecision
- Fgeneric proces
- Gpredesigned process
- Hdocument
- Imanual process
- Jterminator
- Kdatabase
- Lvisual display
- Mline
45Annotation: add descriptive [blank_start]comments[blank_end] or explanations to a flowchart
File: indicates how the documents are filed/combined
On page connector: to avoid cross lines on a [blank_start]page[blank_end]
Off page connector: to avoid over-crowding and move the action of a flowchart between pages
Decision: used for decisions that have a binary outcome
Predefined process: encapsulate a named process with multiple predefined steps
Terminator: to be used at the beginning and [blank_start]end[blank_end] of a flowchart
Visual display: information is displayed on a computer screen- Acomments
- Bpage
- Cend
46Design conventions:
- flowcharting is at least as much [blank_start]art[blank_end] as science
- independently drawn flowcharts of the same process will almost never be [blank_start]identical[blank_end]
- the goal is to produce a flowchart that is [blank_start]concise[blank_end] and understandable, not to reproduce someone else's work- Aart
- Bidentical
- Cconcise
47-Title: based on what is represents
-Columns based on areas of [blank_start]responsibility[blank_end]
-Rough draft of flowchart must be discussed by people involved
- reality check
- easily understood
- plenty of [blank_start]white[blank_end] space
- top to bottom, left to right
- clear origin and [blank_start]termination[blank_end] for all documents
- origin: enter the system or created by processes in the system
- termination: filed or cross out of the system boundary- Aresponsibility
- Bwhite
- Ctermination
48Design steps:
1. establish the system [blank_start]boundary[blank_end]
2. determine column headings
3. list actions performed within each column
4. select appropriate [blank_start]symbols[blank_end]
5. prepare a first [blank_start]draft[blank_end]
6. discuss the draft with others
7. revise as needed- Aboundary
- Bsymbols
- Cdraft
49Nature and purpose of DFDs:
- not as widely used as flowcharts in accounting practice
- helps understanding a business [blank_start]process[blank_end]
- helps understanding the relational database that underlies the AIS
- less detailed than [blank_start]flowcharts[blank_end]
- focus on [blank_start]data[blank_end]- Aprocess
- Bflowcharts
- Cdata
50Label the symbols.
- Adata flow
- Bprocess
- Cdata store
- Dexternal entity
51Process: transform incoming data flow to [blank_start]outgoing[blank_end] data flow
- any set of procedures an organization uses to gather data, change data into info, or report the info to system users
- a number and a name ([blank_start]verb[blank_end] phrases)- Aoutgoing
- Bverb
52External entity: any person or organization [blank_start]outside[blank_end] the boundary of an information system
- depends on your definition of the system, not your definition of the organization
- sources and destinations of the system's inputs and outputs- Aoutside
53Data store: repositories of data in the system, a place for collecting data
- think of it as a [blank_start]file[blank_end]
- labeled with [blank_start]noun[blank_end] phrases
- linked to processes/external entities
- cannot be linked to one another- Afile
- Bnoun
54Data flow: pipelines through which packets of information [blank_start]flow[blank_end]
- represented by a directional line
- only one arrow on one end
- labeled with [blank_start]noun[blank_end] phrases- Aflow
- Bnoun
55DFDs vs Flowcharts
DFD
- [blank_start]four[blank_end] symbols
- leveled sets, each depicting more detail than the last
- processes are [blank_start]numbered[blank_end]
- focus on data and how they [blank_start]move[blank_end] between business processes, external entities, and data stores
- lines represent data; labeled with [blank_start]noun[blank_end] phrases
Flowcharts
- many symbols
- columns representing areas of responsibilities
- numbers are used for on-page and off-page [blank_start]connectors[blank_end]
- concerns with data, documents, and processing tools
- lines represent movement between processes, areas of responsibilities; not [blank_start]labeled[blank_end]- Afour
- Bnumbered
- Cmove
- Dnoun
- Econnectors
- Flabeled
56Why it is necessary to learn both
- design an AIS from [blank_start]scratch[blank_end], first use DFD to focus on the [blank_start]data[blank_end] and how they are manipulated
- later, use flowcharts to iron out the details- Ascratch
- Bdata
57Leveling and balancing:
- DFD are prepared in leveled sets
- leveled set: a collection of DFDs that models related business processes. The various levels provide increasing [blank_start]detail[blank_end] about the process in the system.
- Each level reveals more [blank_start]detail[blank_end] than the one before it.
- Levels must be [blank_start]balanced[blank_end], which means that external entities and data flows at the boundary cannot “disappear” between levels.- Adetail
- Bdetail
- Cbalanced
58Context diagram:
- Highest level view of the system
- The least amount of [blank_start]detail[blank_end]
- Exactly one in a “leveled set”- taking orders
- Exactly one process
- One or more external entities
- No data stores- Adetail
59Level Zero:
- Exactly one in a leveled set
- More detail than the context diagram
- Preserve data flows at the [blank_start]boundary[blank_end]
- Must be balanced: one data inflow to the customer, one data [blank_start]outflow[blank_end] from the customer- Aboundary
- Boutflow
60Level One:
- May be more than one in a leveled set
- More [blank_start]detail[blank_end] than the Level Zero diagram
- Each Level One focused on a single “bubble” from Level Zero
- Preserve data flows at the [blank_start]boundary[blank_end]- Aboundary
- Bdetail
61-How many process should a single DFD have?
Usually no more than [blank_start]7[blank_end]
-Processes may be decomposed to different levels. How many levels should be in a leveled set of DFDs?
Usually no more than [blank_start]three[blank_end]
-When do you stop breaking down a process?
Processes are decomposed (“exploded”) until they are [blank_start]primitive[blank_end] (when the process label is fairly self-explanatory).- A7
- Bthree
- Cprimitive
62Rules/Conventions of good DFD:
- All processes should have [blank_start]unique[blank_end] names
- The inputs to a process should differ from the [blank_start]outputs[blank_end] to a process
- Any single DFD should not have more than 7 processes
- No process can have only [blank_start]outputs[blank_end]- Aunique
- Boutputs
- Coutputs
63Database Design:
-The data stores in a leveled set of data flow diagrams represent relational databases.
-A relational database: a collection of components (objects) that allows us to store, retrieve, report, and ask questions about the [blank_start]data[blank_end] it contains- Adata
64Objects: Tables
-Every relational database must include at least [blank_start]one[blank_end] table.
-Most will include multiple [blank_start]tables[blank_end]
-Organization:
~Fields (columns)
~Records (rows)- Aone
- Btables
65Objects: Queries
-Sets of instructions that examine [blank_start]current[blank_end] data in tables and / or other queries
-Output data according to the [blank_start]instructions[blank_end]
-Can include simple computations (e.g., total, average)- Acurrent
- Binstructions
66Objects: Reports
-Well formatted output of a relational database
-Can be based on tables and/or [blank_start]queries[blank_end]
-Can incorporate simple [blank_start]calculations[blank_end]- Aqueries
- Bcalculations
67Object: Forms
-Allow a user to [blank_start]interact[blank_end] with a database even if they know nothing about design and structure
-Two uses: data input, data lookup- Ainteract
68Primary key: a field in a table that [blank_start]uniquely[blank_end] identifies every record in that table
Foreign key: a primary key in one table that is included in another table for [blank_start]linking[blank_end] purposes
Compound primary key: two or more fields in a table that together comprise its [blank_start]primary[blank_end] key- Auniquely
- Blinking
- Cprimary
69Junction table:
-A table that joins together two [blank_start]separate[blank_end] tables.
-Required when the two separate tables have a “many-to-many” relationship
-Named by joining the separate table names- Aseparate
70Normalization:
-Database tables must be organized as efficiently and effectively as possible
-The process of making a database table [blank_start]efficient[blank_end] and effective is referred to as normalization:
Minimize space allocations
Facilitate searches
Establish [blank_start]relationships[blank_end] between tables- Aefficient
- Brelationships
71-Step one: First normal form (1NF)
Eliminates repeating [blank_start]groups[blank_end]
-Step two: Second normal form (2NF)
Eliminates repeating groups
Eliminates [blank_start]redundant[blank_end] data
-Step three: Third normal form (3NF)
Eliminates repeating groups
Eliminates redundant data
Eliminates columns not dependent on the [blank_start]primary[blank_end] key- Agroups
- Bprimary
- Credundant
72Flat file: Acceptable if the data is fairly simple and straightforward; how to answer [blank_start]simple[blank_end] questions
- Asimple
73- XBRL is the open international standard for digital business [blank_start]reporting[blank_end]
-Purpose: to facilitate information [blank_start]exchange[blank_end] between all different kinds of organizations, regardless of the hardware and software platforms they use differently
-Tagging: XBRL enables preparers to utilize software to [blank_start]tag[blank_end] all financial items in their business reports to the elements within a taxonomy.
-XBRL documents are created to replace older, paper-based reports with more useful, more effective and more accurate digital versions.
-So all financial items can be used programmatically by an XBRL-compatible program.- Areporting
- Btag
- Cexchange
74-XBRL is a subset of a much [blank_start]broader[blank_end] language, XML
-Stand for eXtensible Markup Language.
-Simple text-based format for representing structured information: documents, data, transactions, etc.
-Designed to describe data.
-XBRL is to financial information what [blank_start]HTML[blank_end] is to web page development- Abroader
- BHTML
75Extensible: Users can add [blank_start]tags[blank_end] as needed.
Specification: XBRL is an example of a broader group of languages called [blank_start]XML[blank_end]
Taxonomy: An organizational structure for XBRL tags
- A dictionary to [blank_start]define[blank_end] the tags
- Different taxonomy is required for different financial reporting purpose
- Many different organizations, including regulators, specific industries or even companies, may require taxonomies to cover their own business reporting needs
Namespace: the internet [blank_start]location[blank_end] of an XBRL taxonomy
Instance document: A document that includes data properly tagged with XBRL- Atags
- BXML
- Cdefine
- Dlocation
76Important characteristics:
-Open source
-Extensible
-Required for [blank_start]SEC[blank_end] reporting
-Can also be used for [blank_start]internal[blank_end] information, such as journal entries
-Language—not a new set of GAAP
-Overseen by XBRL International- ASEC
- Binternal
77-A typical enterprise has many departments and business units (BU)
-These departments/BU continuously communicate and exchange [blank_start]data[blank_end] with each other
-The success of any organizations lies in effective communication and data exchange within the departments/BU as well as associated third party (e.g., vendors, customers)- Adata
78Decentralized system:
- Data is maintained [blank_start]locally[blank_end] at the individual departments
- Departments do not have access to data of other departments/BU- Alocally
79Centralized systems
-Data is maintained at a [blank_start]central[blank_end] location and is shared with various departments (centralized database)
-Departments have access to the information/data of other departments/BU- Acentral
80Benefits of ERP:
- Eliminates the duplication, discontinuity and redundancy in data
- Provides information across [blank_start]departments[blank_end] in real time
- Provides [blank_start]control[blank_end] over various business processes
- Increases productivity, better inventory managements, promotes quality, reduced material cost, effective HR management, reduced overheads boosts profits
- Better customer interaction, improved [blank_start]customer[blank_end] services- Adepartments
- Bcontrol
- Ccustomer
81Purpose: Providing comprehensive information for [blank_start]decision[blank_end] making
Nature: Fundamentally, relational databases
Modular organization- Adecision
82business process: a set of procedures and policies designed to create [blank_start]value[blank_end] for some organizational stakeholder
porter's value chain: a classic, well recognized model for describing generic value creating activities
Primary activities create value [blank_start]directly[blank_end].
Support activities create value [blank_start]indirectly[blank_end].- Avalue
- Bdirectly
- Cindirectly
83Sales/Collection Process Steps:
1.Take the customer’s order.
2.Approve the customer’s [blank_start]credit[blank_end].
3.Fill the order based on approved credit.
4.Ship the product.
5.Bill the customer.
6.Collect payment.
7.Process uncollectible receivables as needed.- Acredit
84Picking list - Telling the warehouse staff what products to take off the shelves to fill the [blank_start]order[blank_end]
Packing list - A final check of what is actually loaded into the box before the goods are shipped
Bill of lading -
-Tells the common carrier:
-where to deliver the goods
-explains the freight terms
-who is responsible for the goods while they are in [blank_start]transit[blank_end]
-who bears the freight cost
Remittance advice - the source document for journal entries related to cash receipts. It goes to the accounting department for recordkeeping.
Deposit slips - A deposit slip typically lists each item to be deposited with some identifying information, account number, etc.- Aorder
- Btransit
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- Quiz on ACC 321 Final, created by Cindy Nguyen on 08/05/2020.
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- Cindy Nguyen
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