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accounting information systems
Accounting Information Systems 8th Edition George H. Bodnar, William S. Hopwood - Solutions
The most effective way to prevent an employee from misappropriating cash and then altering the accounting records to conceal the shortage is to(a) perform bank reconciliations on a timely basis.(b) deposit promptly all cash receipts in the company's bank account.(c) prenumber all cash receipts
Which of the following is not a universal rule for achieving strong internal control over cash(a) Separate the cash handling and record-keeping functions.(b) Decentralize the receiving of cash as much as possible.(c) Deposit each day's cash receipts by the end of the day.(d) Have bank
Which of the following events represent the basic give-to-get economic exchange for a business that rents equipment and machinery for use by others?a. Rent Equipment and Return Rented Equipmentb. Rent Equipment and Receive Cashc. Rent Equipment, Return Rented Equipment, and Receive Cashd. Rent
Which of the following is most likely to be modeled as being a 1:1 relationship?a. the relationship between Sales and Customersb. the relationship between Sales and Inventoryc. the relationship between Sales and Receive Cashd. none of the above
How can service companies (accounting, law, consultants, etc.) use technology to track how their employees use time?
Determining whether the organization has access to people who can design, implement, and operate the proposed system is referred to as which of the following?a. technical feasibilityd. scheduling feasibilityb. operational feasibilitye. economic feasibilityc. legal feasibility
This chapter suggests that an organization should make special efforts to ease fears among its employees about potential job or seniority loss. One advantage of mechanizing a system, however, is a reduction of clerical costs, which often results in job losses. Are these two concepts inconsistent?
The president of Monteer Signature Homes is perplexed by requests for computers from three different areas of the firm. The EDP manager wants \($4.5\) million to upgrade the mainframe computer. The vice president of engineering wants \($450,000\) to buy a client/server system. The vice president of
Describe some examples of systems analysis decisions that involve a trade-off between each of the following pairs of objectives:a. economy and usefulnesse. simplicity and reliabilityb. economy and reliabilityf. economy and capacityc. economy and customer service g. economy and flexibilityd.
For years, Jerry Jingle’s dairy production facilities led the state in total sales volume. However, recent declines left Jerry wondering what his company was doing wrong. When he asked several customers to rate his products, they seemed satisfied but did note several areas of concern. First on
Yuping Chai has seen the future, and so far she wants no part of it. The offices at Sierra Manufacturing Company, where Chai is vice president, have just been automated. Sitting at her desk in Sacramento, Chai can push buttons on a computer keyboard and staff memos will appear on the screen. She
XYZ Conglomerate Company has completed a feasibility study to upgrade its computer system. Management received the information in Table 18-9, which shows the benefits of the new system.Required As a board member, which of the benefits would you accept as relevant to the cost justification of the
The Alkin Chemical Company manufactures and sells chemicals for agricultural and industrial use. The company has grown significantly over the past five years. However, the company’s AIS is the original one developed and installed by the former president’s son while he was in college. Much of
PWR Instruments manufactures precision nozzles for fire hoses. The president, Ronald Paige, an engineer, started the corporation, which has been successful and has experienced steady growth. Reporting to Ronald are six vice presidents representing the company’s major functions—marketing,
In the process of developing a new drug, pharmaceutical companies perform clinical trials to test the drug. The collection and processing of clinical trials’ data accounts for 40% of the total cost of developing a new drug. This is no small amount, given that the average cost of drug
Don Richardson, vice president of marketing for the JEM Corporation, has just emerged from another strategic planning session aimed at developing a new line of business. The company’s management team has been discussing these plans for several months, since major organizational changes will be
Remnants, Inc., is a large company that manufactures and markets designer clothing throughout the United States. From its St. Louis headquarters. Remnants has developed a regional system for marketing and servicing its products. Each region functions as a profit center because of the authority
Managers face a continual crisis in the systems development process; Information systems departments develop systems that businesses cannot use. At the heart of the problem is a proverbial “great divide” that separates the world of business from the world of information systems. Few departments
Joanne Grey, a senior consultant, and David Young, a junior consultant, were assigned by their firm to conduct a systems analysis for a client. The objective of the study was to consider the feasibility of integrating and automating certain clerical functions. Joanne had previously worked on jobs
Business organizations often are required to modify or replace a portion or all of their financial information system to keep pace with their growth and take advantage of improved IT. The process involved in modifying or replacing an AIS requires a substantial commitment of time and resources. When
A large manufacturing firm needed a specialized software program to identify and monitor cost overruns for one of its specialty processing plants. After an extensive search and analysis of potential vendors and considering writing the soft¬ ware in-house, the firm decided to purchase prepackaged
Ajax Manufacturing installed a new inventory tracking system in its warehouse that includes bar code scanners. Warehouse personnel must scan each item in the warehouse on a monthly basis. To properly close the books each month on a timely basis, the inventory must be scanned in a 36-hour period.
Which of the following is not one of the difficulties accountants have experienced using the traditional systems development life cycle?a. AIS development projects are backlogged for years.b. Changes are not usually possible after requirements have been frozen.c. The AIS that is developed may not
Which of the following statements is false?a. As a general rule, companies should buy rather than develop software if they can find a package that meets their needs.b. As an AIS increases in size and complexity, there is a greater likelihood that canned software can be found that meets user
When buying large and complex systems, vendors are invited to submit systems for consideration. What is such a solicitation called?a. request for quotationb. request for systemc. request for proposald. good-faith estimate
To compare system performance, a company can create a data processing task with input, processing, and output jobs. This task is performed on the systems under consideration and the processing times are compared. The AIS with the lowest time is the most efficient. What is this process called?a.
A city in the Midwest with a population of 45,000 purchased a computer and began developing application programs with in-house programmers. Four years later, only one major application had been developed, and it was neither complete nor functioning properly. Moreover, none of the application
Sara Jones is the owner of a rapidly growing department store and faces stiff competition. The store is using an out-of-date AIS, resulting in poor customer service, late and error-prone billing, and inefficient control and monitoring of inventory. If the store is to continue growing, its AIS must
Clint Grace is the owner of a chain of regional department stores and has been in the business for more than 30 years. He has definite ideas about how department stores should be run. He is financially conservative and is reluctant to make expenditures that do not have a clear financial payoff.In
Don Otno is confused. He has been researching software options but cannot decide among three alternatives. He has come to you for help.Don started his search at Computers Made Easy (CME), a computer store in his office complex. He almost wished he had looked no further. Steve Young, the man¬ ager
One unhappy federal agency spent almost \($1\) million on a development contract for an integrated human resources/payroll system that produced no usable soft¬ ware. The original contract was for \($445,158\) and 15 months. The agency terminated the contract after 28 months and \($970,000.\) The
Wong Engineering Corporation (WEC) operates in 25 states and three coun¬ tries. WEC faced a crucial decision: choosing a network operating system and soft¬ ware that would maximize functionality, manageability, and acceptance of the system by end users. WEC developed and followed a four-step
Mark Mitton is the accountant acting as liaison to the information systems department for a midsize retail firm in Salem, Oregon. Mark has been investigating several computer systems and has narrowed the selection to the best three systems. Mark developed a shopping list of features the system
Nielsen Marketing Research USA (NMR), with operations in 29 countries, is the recognized world leader in the production and dissemination of marketing information. Nielsen was a pioneer in the development of the decision support information business and has been the primary supplier for more than
A state department of licensing needed a new system to handle registration and license applications. After conducting a thorough systems analysis, the department estimated that the project would cost approximately \($40\) million and take five years to complete. But after seven years and \($40\)
Meredith Corporation publishes books and magazines, owns and operates tele¬ vision stations, and provides a real estate marketing and franchising service. Meredith is dissatisfied with its ability to retrieve correct and timely inventory information from its AIS. Each division either developed its
The following list outlines the activities a company may perform in the process of reengineering its business. Match each activity with one of the seven prin¬ ciples of reengineering.Reengineering Activitiesa. One person processes an employment application from beginning to end.b. The department
The management of Quickfix would like to decrease costs and increase customer service by reengineering its computer repair procedures. Currently, when a defective or broken computer needs servicing, the customer calls one of five regional customer service centers. A customer service representative
Conduct a search (using written materials, the Internet, electronic databases, etc.) for successful and failed implementations of information systems. Per your professor’s instructions, prepare an oral or written summary of a successful and a failed implementation. Include in your summary the
Norcom, a division of a large manufacturer, needed a new distribution and customer service system to replace its old system. The project was to take 18 months to complete and cost approximately $5 million. The project team was comprised of 20 business and IT staff members. After two years, the CIO
A large organization needed a new system to replace its old customer data¬ base within 18 months. The new customer system was built at an estimated cost of $1 million and installed by the company’s internal information systems staff. One impor¬ tant feature of the new system was that it needed
How does an organization identify the specific accounts it needs in its chart of accounts?
Why are control accounts commonly found in the general ledger of an organization?
What functions are served by accounting forms and papers in an organization?
What are the uses of standard journal entries?5 . What are the basic objectives of coding systems?
Define and give an example of the following types of codes:(a) sequential(b) block(c) group(d) decimal
What is the major disadvantage of a decimal code?
Identify several standardization procedures pertinent to the coding of calendar data.
Distinguish between Julian and Gregorian calendar dating. Which is more advantageous in data processing environments?
What is a mnemonic code?
Are forms always paper documents? Explain.
Identify several basic considerations in form design.
Identify a fundamental principle of form design that pertains to the features that appear on the form itself.
What are the functions of a form control unit? Why is forms control important in large organizations?
Why are records retention requirements an important consideration in systems design?
Identify several sources that list federal records retention requirements.
What is the major difference between computer batch processing and direct processing of transactions?
Describe how a writing board is used to process transactions.
Why is data validation important when computers are used to process transactions?
Discuss the importance of an accounting systems manual to(a) the training of new personnel.(b) the uniformity and consistency of reports.(c) an external audit.(d) the revision of an accounting procedure.
Figure 4-11 contains a schematic diagram of a one-write system. Identify the probable uses of forms \(A, B\), and \(C\) if the system is used for the following functions:(a) accounts payable(b) accounts receivable(c) payrollFigure 4-11 A B C
Modify Figure 4-7 to illustrate ledger less bookkeeping when partial payments are made.Figure 4-7 Sales on Account Procedure Invoices in Numerical Order Batch Control Post to Control Account Batch Invoices Control Remittances on Account Procedure From Mailroom Batch Control Advices Remittances or
A form should permit the right thing to be done at the right time. What form would you want as proper authorization to perform the tasks that follow?(a) Assemble the items ordered by a customer and prepare them for delivery.(b) Arrange for the purchase of goods for your company at the best
The purchasing agent of the Hirz Company has approved the design of the purchase requisition in Figure 4-12. Criticize the design of the purchase requisition, limiting your comments to the original copy that is illustrated.Figure 4-12 Hirz Company Washington, D.C. To: Purchasing Agent Quantity
The potential negative financial effect of an event multiplied by its probability of occurrence is a(n) ( ___________ ) .(a) control(b) exposure(c) hazard(d) risk
Fraud that benefits a company or organization, rather than the individual(s) who perpetrate the fraud, is known as ( ___________ ) .(a) white-collar crime(b) corporate crime(c) management fraud(d) fraudulent financial reporting
The responsibility for establishing and maintaining an internal control structure rests with ( ___________ ).(a) internal auditing(b) the treasurer(c) management(d) the controller
Which of the following is an element of an internal control process?(a) information and communication(b) reasonable assurance(c) internal audit function(d) management control methods
Which of the following limits the initiation of a transaction or performance of an activity to selected individuals?(a) authorization(b) approval(c) fidelity bond(d) audit trail
Computer master files and transaction files are maintained after the creation of an updated master file in case the current master file is corrupted. This is an example of ( ___________ ).(a) labeling procedures(b) recovery procedures(c) documentation procedures(d) secure custody
Marking bills as "paid" to prevent duplicate payment is an example of ( ___________ ).(a) cancellation(b) backup(c) approval(d) endorsement
A meaningless total that is useful for control purposes only is called a(n) ( ___________ ).(a) line control count(b) hash total(c) document control total(d) amount control total
An imprest payroll checking account has a zero balance after all paychecks have been cashed. This type of control practice is an example of a(n) ( ___________ ) .(a) tickler file(b) upstream resubmission(c) redundant processing(d) clearing account
Agreement or conspiracy among two or more people to commit fraud is known as ( ___________ ) .(a) dual control(b) complicity(c) intrigue(d) collusion
Distinguish between risks and exposures.
Identify several common business exposures.
What is corporate crime?
Does computer processing increase an organization's exposure to undesirable events?
List the basic elements of an internal control process.
Why are written procedures manuals control tools?
Differentiate preventative, detective, and corrective controls. Give an example of each.
What is the purpose of a forced vacation policy?
What is batch control?
Why is collusion a problem in internal control design?
Why is it important that the purpose and nature of internal control be communicated to employees within an organization?
Discuss the statement "The procedures did not fail, the people did."
What role do physical security devices have in a system of internal control?
Why has the importance of the internal audit function continued to grow?
Discuss the advantages and disadvantages of using a questionnaire or checklist in evaluating an internal control system.
Does filling out a questionnaire constitute an evaluation of internal controls?
What is an analytic flowchart? What is an applications control matrix?
Internal accounting controls are not designed to provide reasonable assurance that(a) transactions are executed in accordance with management's authorization.(b) irregularities will be eliminated.(c) access to assets is permitted only in accordance with management's authorization.(d) the recorded
Internal control is a function of management, and effective control is based on the concept of charge and discharge of responsibility and duty. Which of the following is one of the overriding principles of internal control?(a) Responsibility for accounting and financial duties should be assigned to
Effective internal control requires organizational independence of departments. Organizational independence would be impaired in which of the following situations?(a) The internal auditors report to the audit committee of the board of directors.(b) The controller reports to the vice president of
Transaction authorization within an organization may be either specific or general. An example of specific transaction authorization is the(a) setting of automatic reorder points for material or merchandise.(b) approval of a detailed construction budget for a warehouse.(c) establishment of
A system of internal accounting control normally would include procedures that are designed to provide reasonable assurance that(a) employees act with integrity when performing their assigned tasks.(b) transactions are executed in accordance with management's general or specific authorization.(c)
When considering internal control, an auditor must be aware of the concept of reasonable assurance that recognizes that(a) the employment of competent personnel provides assurance that the objectives of internal control will be achieved.(b) the establishment and maintenance of a system of internal
Which of the following elements of an entity's internal control structure includes the development of personnel manuals documenting employee promotion and training policies?(a) control procedures(b) control environment (c) information and communication (d) quality control system
Which of the following is not an element of an entity's internal control process?(a) control risk(b) control activities(c) information and communication(d) the control environment
Employers bond employees who handle cash receipts because fidelity bonds reduce the possibility of employing dishonest individuals and(a) protect employees who make unintentional errors from possible monetary damages resulting from their errors.(b) deter dishonesty by making employees aware that
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