The flowchart depicts part of a client's revenue cycle. Some of the flowchart symbols are labeled to
Question:
The flowchart depicts part of a client's revenue cycle. Some of the flowchart symbols are labeled to indicate control procedures and records. For each symbol numbered 61 through 73, select one response from the answer lists below. Each response in the lists may be selected once or not at all.
Transcribed Image Text:
SALES DEPT. From customer Customer purchase order Transmit customer data to computer Customer purchase order #63 COMPUTER PROCESSING DEPARTMENT Cust credit file COMPUTERIZED ORDER PROGRAM #61 and perform adit checks and prepare sales order 462 COMPUTERIZED SHIPPING PROGRAM: Retrieve open orders add shipping data; transfer to shipping file; and prepare shipping documents WAREHOUSE & SHIPPING DEPARTMENT From computer processing dept Sales order Sales order Sales order To warehouse and shipping dept. Shipping doc Shipping document. Inventory master file #701 Sales transaction file Customer P.O. Sales order Sales order To customer COMPUTERIZED UPDATE PROGRAMI Update master files Prepare G/L transaction summary, prepare accounts receivable ledger, prepare aged T/B, and #71 Accounts rec master file Shipping file #66 Sales order 464 465 COMPUTERIZED BILLING PROGRAM Retrieve shipping data enter price data; prepare sales transaction file and #671 Transmit shipping information to computer #68 To customer #69 General ledger transaction summary #72 Accounts receivable ledger #73 To accounting To accounting To accounts receivable To customer credit Sales order 3 Shipping doc Shipping document To Customer with goods
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Parvesh Kumar
I am an experienced Mathematics and Statistics tutor with 10 years of experience teaching students and working professionals. I love teaching students who are passionate to learn subjects or wants to understand any mathematics and statistics concept at graduation or master’s level. I have worked with thousands of students in my teaching career. I have helped students deal with difficult topics and subjects like Calculus, Algebra, Discrete Mathematics, Complex analysis, Graph theory, Hypothesis testing, Probability, Statistical Inference and more. After learning from me, students have found Mathematics and Statistics not dull but a fun subject. I can handle almost all curriculum of mathematics. I did B.Sc (mathematics), M.Sc (mathematics), M.Tech (IT) and am also Gate (CS) qualified. I have worked in various college and school and also provided online tutoring to American and Canadian students. I look forward to discussing with you and make learning a meaningful and purposeful
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Auditing An Assertions Approach
ISBN: 9780471134213
7th Edition
Authors: G. William Glezen, Donald H. Taylor
Question Posted:
Students also viewed these Business questions
-
The flowchart in Figure depicts part of a clients revenue cycle. Some of the flowchart symbols are labeled to indicate control procedures and records. For each symbol numbered1 through 13, select one...
-
"I'm not sure we should lay out $300,000 for that automated welding machine," said Jim Alder, president of the Superior Equipment Company. "That's a lot of money, and it would cost us $84,000 for...
-
Below is a list of assetion descriptions specifically tested in the audit of accounts receivable First select the best overall category of assertion described Second select the following audit...
-
QI: Obtain the closed loop transfer function for the system whose block diagram is shown in fig.(1) 3 Y(s) 2 +. X(s) s+2 s+2 s+2 Fig. (1)
-
Give an example of a connected graph that has (a) Neither an Euler circuit nor a Hamilton cycle, (b) An Euler circuit but no Hamilton cycle, (c) A Hamilton cycle but no Euler circuit, (d) Both a...
-
On December 31, 2007 Atwood Table Company has $8 million of short-term notes payable owed to City National Bank. On February 1, 2008 Atwood negotiates a revolving credit agreement providing for...
-
In the previous question, the Australian interest rates increased from 6 to 11 percent. According to the IFE, what is the underlying factor that would cause such a change? Give an explanation based...
-
Recording Journal Entries Blaine Air Transport Service, Inc., has been in operation for three years. The following transactions occurred in February: February 1 Paid $275 for rent of hangar space in...
-
Delta Air Lines, Inc. provides airline services using mixed costing. In August 2028, the company incurs the following costs related to its operations: Fixed Costs: $150 million Variable Costs: $75...
-
Butler, CPA, has been engaged to audit the financial statements of Young Computer Outlets, Inc., a new client. Young is a privately-owned chain of retail stores that sells a variety of computer...
-
You have been engaged by the management of Alden, Inc. to review its internal control over the purchase, receipt, storage, and issue of raw materials. You have prepared the following comments to...
-
Nix'It Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix'It uses the perpetual inventory system). Merchandise...
-
How many zeros does the function 5x-3 f(x) = x-1 have? What are they? Describe the behavior of Newton's method applied to this function if the initial guess is (a) 0.5 (b) 0.75 (c) 0.2 (d) 1.25 6 How...
-
Write out in words a general expression of the conservation of energy principle applied to a finite time interval. Use this expression to answer the following questions: At the start of a process,...
-
Analyze and consider a diagnosis based off the results of the intelligence and achievement tests think about how viewing results from both tests can help a practitioner better understand the test...
-
You are given the definition of the recursive method myFun. Show what would be returned by the following calls to myFun. int myFun (int n) { if (n <1) return n + n%;B else if (n <10) return n * n;...
-
Create the public class Module1 with the following data fields and methods: 1) Data fields: a. an object of type Scanner named sc (you can import the Scanner class from java.util. Scanner) b. three...
-
Consider the coaxial line of arbitrary cross section shown in Figure (a). Using the moment method to find the capacitance C per length involves dividing each conductor into N strips so that the...
-
Use a calculator to evaluate the expression. Round your result to the nearest thousandth. V (32 + #)
-
In the general model, an efficiency variance is calculated as: Multiple Choice (SPxAQ) (SPxSQ) (AP SQ) (SP SQ) (AP AQ) (SPxSQ) (AP AQ) (SPX AQ)
-
Chess Top uses the periodic inventory system. For the current month, the beginning inventory consisted of 480 units that cost $65 each. During the month, the company made two purchases: 720 units at...
-
Can you please answer the following question in two paragraphs, 5 sentences each paragraph, and in your own words. 1. Can you explain the obstacles that the LGBTQ community have faced before and now...
Study smarter with the SolutionInn App