ACCT 451 WEEK 4 QUIZ – DEVRY
Follow below link to get this tutorial:
Contact us at:
ACCT 451 WEEK 4 QUIZ – DEVRY
1.(TCO 4) In the revenue cycle, a customer places an order for a
certain product. Before the order is checked for inventory availability,
what step should be taken?
2.(TCO 4) With a(n) __________ system, customers pay according
to the amount showing on their monthly statement and payments are simply
applied against the total account balance.
3.(TCO 4) Sad Clown Pajamas is an Internet-based wholesaler.
Customers enter their orders online. The manager of Callow Youth Clothing was
entering and order when the following error message popped up: Your total order
exceeds your available credit. Please contact our Credit Department. This
message is the result of a
4.(TCO 4) There is a threat of paying an invoice twice.
What is an applicable control that may help mitigate this threat?
5.(TCO 4) The receiving clerk at Folding Squid Technologies
examines incoming shipments and reconciles their contents with the relevant
purchase orders. A receiving report is then sent to accounts payable and
the vendor’s invoice is approved for payment. Which of the following would
correct control weaknesses, if any, related to these activities?
6.(TCO 4) How does a company avoid overbilling customers for
items not yet shipped?
7.(TCO 4) Name and describe the two common systems for approving
vendor payments.
No comments:
Post a Comment