Account Receivable Report – Accounting And Finance
The key terms in these Finance chapters include Account Receivable Report, Enterprise Resource Planning system (ERP), AIS, Legacy System, CAD software, production planning systems, inventory records, over-production, under-production, accounts receivable aging report, accounting and finance.
Identify a useful tool for monitoring accounts receivable.
accounts receivable aging report – Correct
accounts receivable tolerance report
ERP exception report
customer credit limit report
By using an ERP to merge the billing, sales, and marketing functions, the firm may be able to
bill the customer right after the sale occurs.
use customer’s past purchase history to send information about related products and services the customer may be interested in. – Correct
market products and services on bills sent to customers.
eliminate the need for a firm to have a billing, sales, and marketing department.
Key differences exist when an integrated Enterprise Resource Planning system (ERP) replaces an existing AIS or legacy system. For example, ________ are more accurate and timely, enabling sales order entry staff to provide customers more accurate information about delivery dates.
cash receipts
inventory records – Correct
exception reports
credit approval decisions
The risks associated with over-production are likely of greatest concern to which company below?
a manufacturer of printer paper
a manufacturer that produces designer clothing – Correct
a cereal manufacturer
a mailbox manufacturer
Identify one control that can be used to mitigate the threat of under-production.
analysis of warranty and repair costs
insurance
encryption
production planning systems – Correct
How can CAD software help improve the efficiency and effectiveness of the product design process?
It can eliminate the costs associated with creating and destroying physical prototypes. – Correct
All of the above
It can store all the data associated with all products.
It can simulate how new products will be manufactured.
Identify a useful tool for monitoring accounts receivable.
accounts receivable aging report – Correct
accounts receivable tolerance report
ERP exception report
customer credit limit report
By using an ERP to merge the billing, sales, and marketing functions, the firm may be able to
bill the customer right after the sale occurs.
use customer’s past purchase history to send information about related products and services the customer may be interested in. – Correct
market products and services on bills sent to customers.
eliminate the need for a firm to have a billing, sales, and marketing department.
Account Receivable Report – Accounting And Finance
Key differences exist when an integrated Enterprise Resource Planning system (ERP) replaces an existing AIS or legacy system. For example, ________ are more accurate and timely, enabling sales order entry staff to provide customers more accurate information about delivery dates.
cash receipts
inventory records – Correct
exception reports
credit approval decisions
________ is not a basic activity of the revenue cycle.
Sales order entry
Receiving – Correct
Billing
Which of the following is not a general threat to the revenue cycle?
inaccurate master data
unauthorized disclosure of sensitive information
loss of customers – Correct
poor performance
During the sales order entry process, a ________ is performed to verify that each transaction record contains all appropriate data items.
redundant data check
field check
reasonableness test
completeness test – Correct
Identify a useful tool for monitoring accounts receivable.
accounts receivable aging report – Correct
accounts receivable tolerance report
ERP exception report
customer credit limit report
By using an ERP to merge the billing, sales, and marketing functions, the firm may be able to
bill the customer right after the sale occurs.
use customer’s past purchase history to send information about related products and services the customer may be interested in. – Correct
market products and services on bills sent to customers.
eliminate the need for a firm to have a billing, sales, and marketing department.
Key differences exist when an integrated Enterprise Resource Planning system (ERP) replaces an existing AIS or legacy system. For example, ________ are more accurate and timely, enabling sales order entry staff to provide customers more accurate information about delivery dates.
cash receipts
inventory records – Correct
exception reports
credit approval decisions
________ is not a basic activity of the revenue cycle.
Sales order entry
Receiving – Correct
Billing
Shipping
Which of the following is not a general threat to the revenue cycle?
inaccurate master data
unauthorized disclosure of sensitive information
loss of customers – Correct
poor performance
During the sales order entry process, a ________ is performed to verify that each transaction record contains all appropriate data items.
redundant data check
field check
reasonableness test
completeness test – Correct
Identify a useful tool for monitoring accounts receivable.
accounts receivable aging report – Correct
accounts receivable tolerance report
ERP exception report
customer credit limit report