Strayer ACC564 week 3 quiz 1 (All Correct)

Instructions: This quiz consists of 20 multiple choice questions and covers the material in Chapters 1 through 3 and 5. There are five questions from each chapter. The questions are in chapter order


Question 1

4 out of 4 points

Which of the following is a primary activity in the value chain?

A) infrastructure 
B) technology 
C) purchasing 
D) marketing and sales

Question 2

4 out of 4 points

The business owners obtain financing from outside investors, which results in an inflow of cash into the company. This transaction is considered to be part of which cycle?

A) the revenue cycle
B) the payroll cycle 
C) the production cycle 
D) the financing cycle  · 

Question 3

4 out of 4 points

Paying federal payroll taxes is part of which transaction cycle?

A) Human resources/payroll
B) Expenditure
C) Financing
D) Revenue

Question 4

4 out of 4 points

The value chain concept is composed of two types of activities known as

A) primary and support. 
B) primary and secondary. 
C) support and value. 
D) technology and support. 

Question 5

4 out of 4 points

Groups of related business activities such as the acquisition of merchandise and payment of vendors are called

A) transaction cycles. 
B) economic cycles. 
C) business events. 
D) transactions.

Question 6

4 out of 4 points

Which of the following is an example of source data automation?

A) a utility bill 
B) POS (point-of-sale) scanners in retail stores 
C) a bill of lading 
D) a subsidiary ledger 

 Question 7

4 out of 4 points

A specialized journal would be most likely to be used to enter

A) sales transactions.
B) monthly depreciation adjustments.
C) annual closing entries.
D) stock issuance transactions.

Question 8

4 out of 4 points

Hector Sanchez works in the accounting department of a multinational manufacturing company. His job includes updating accounts payable based on purchase orders and checks. His responsibilities are part of the company’s

A) revenue cycle.
B) expenditure cycle.
C) financing cycle.
D) production cycle.

Question 9

4 out of 4 points

The issuing of a purchase order is part of which transaction cycle?

A) the revenue cycle 
B) the production cycle 
C) the human resources cycle 
D) the expenditure cycle 

Question 10

4 out of 4 points

In transaction processing, generally which activity comes first?

A) recording data in a journal 
B) posting items to special journals 
C) capturing data on source documents
D) recording data in a general ledger 

Question 11

4 out of 4 points

Most processes on a DFD can be identified by

A) data in-flows only. 
B) data out-flows only. 
C) data flows both into or out of a process. 
D) always being followed by a data store. 

Question 12

4 out of 4 points

In a payroll processing DFD, the “prepare reports” activity will be represented by ________, the “employee payroll file” will be represented by ________, and the “management” will be represented by ________.

A) a circle; two horizontal lines; a square 
B) a circle; two horizontal lines; two horizontal lines 
C) a rectangle; a square; a circle 
D) a square; two horizontal lines; a circle 

Question 13

4 out of 4 points

A DFD created at the highest-level or summary view is referred to as a

A) process diagram. 
B) overview diagram. 
C) content diagram. 
D) context diagram. 

Question 14

4 out of 4 points

In a document flowchart of a manual payroll processing system, “update employee file” will be shown by a(n) ________ symbol, and “prepare payroll check” will be shown by a(n) ________ symbol.

A) input; output 
B) input; manual operation 
C) manual operation; output 
D) manual operation; manual operation 

Question 15

4 out of 4 points

In general, a data destination will be shown by

A) an arrow pointing away. 
B) an arrow pointing in. 
C) arrows pointing both ways. 
D) no arrows, only two horizontal lines. 

Question 16

4 out of 4 points

In a ________ scheme, customer receipts are stolen and then subsequent payments by other customers are misapplied to cover the theft of the original receipts.

A) kiting 
B) laundering 
C) bogus expense 
D) lapping 

Question 17

4 out of 4 points

Perhaps the most striking fact about natural disasters in relation to AIS controls is that 
A) many companies in one location can be seriously affected at one time by a disaster. 
B) losses are absolutely unpreventable. 
C) there are a large number of major disasters every year. 
D) disaster planning has largely been ignored in the literature. 

Question 18

4 out of 4 points

Which of the following is the best way to hide theft of assets? 
A) Creating “cash” through the transfer of money between banks 
B) Conversion of stolen assets into cash 
C) Stealing cash from customer A and then using customer B’s balance to pay customer A’s accounts receivable 
D) Charging the stolen asset to an expense account 

Question 19

4 out of 4 points

Why is computer fraud often more difficult to detect than other types of fraud? 
A) Rarely is cash stolen in computer fraud. 
B) The fraud may leave little or no evidence it ever happened. 
C) Computers provide more opportunities for fraud. 
D) Computer fraud perpetrators are just more clever than other types of criminals. 

Question 20

4 out of 4 points

Most frauds are detected by
A) external auditors.
B) internal auditors.
C) accident.
D) hotline tip.