Accounting Information Systems
11th Edition
ISBN: 9781337552127
Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher: Cengage Learning
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Question
Chapter 11, Problem 16RQ
Summary Introduction
To explain: The controls associated with the cash receipts business process.
Introduction:
B/AR/CR process:
It is an accounting process with an interacting structure of different process supporting the decision-making activities of the
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What internal control functions are performed by a cashregister and point-of-sale system? How are these functionsperformed when cash is received by mail?
An invoice is generated in the
cash receipts process.sales order creation process.shipping process.picking process.billing process.
Which of the following is true? a. The cash disbursement function is part of accounts payable. b. Cash disbursements is an independent accounting function. c. Cash disbursements is a treasury function. d. The cash disbursement function is part of the general ledger department.
Chapter 11 Solutions
Accounting Information Systems
Ch. 11 - What is the billing/accounts receivable/cash...Ch. 11 - What primary activities does the B/AR/CR process...Ch. 11 - Prob. 3RQCh. 11 - What functions are typically segregated in the...Ch. 11 - Prob. 5RQCh. 11 - Describe several ways that companies have reduced...Ch. 11 - Prob. 7RQCh. 11 - Prob. 8RQCh. 11 - Prob. 9RQCh. 11 - What is accounts receivable master data?
Ch. 11 - What are the major features of a balance-forward...Ch. 11 - What are the differences between a post-billing...Ch. 11 - Prob. 13RQCh. 11 - Prob. 14RQCh. 11 - What characterizes a valid RA (i.e., cash...Ch. 11 - Prob. 16RQCh. 11 - Prob. 17RQCh. 11 - Develop several examples of possible goal...Ch. 11 - Prob. 2DQCh. 11 - Prob. 3DQCh. 11 - Prob. 4DQCh. 11 - Prob. 5DQCh. 11 - The two most widely used billing systems are (1)...Ch. 11 - Prob. 7DQCh. 11 - Prob. 1SPCh. 11 - Prob. 2SPCh. 11 - Prob. 3SPCh. 11 - Prob. 5SPCh. 11 - Prob. 6SPCh. 11 - Prob. 3PCh. 11 - Prob. 5PCh. 11 - Prob. 6PCh. 11 - Use the DFDs in Figure 11.3 (pg. 416), Figure 11.4...
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Similar questions
- Record the following transactions in the cash receipts journal.arrow_forwardWhich of the following assets require the strongest of internal controls? A. inventory B. credit cards C. computer equipment D. casharrow_forwardJOURNALIZING CASH RECEIPTS Enter the following transactions in a general journal:arrow_forward
- What purpose do multilevel security controls serve in an organisation with combined purchases and cash pay-out system?arrow_forwardwhich of the following assets require the strongest of internal controls a. inventory b. credit card c. computer equipment d. casharrow_forwardAre purchasing and receiving functions separate from invoiceprocessing, accounts payable, and general ledger functions?arrow_forward
- Keeping cash locked away is an example of which control activity? a. Authorization b. Performance reviews • c. Physical control d. Segregation of dutiesarrow_forwardWhat are the benefits of a company having a centralized cash management system?arrow_forwardAn introduction to what are the most effective internal control systems or techniques available for the accounting function?arrow_forward
- What steps are followed in posting cash receipts from the general journal to the accounts receivable ledger?arrow_forwardWhich of the following is a good internal control for cash payments? A.Payments to suppliers should be made as quickly as possible B.An experienced accountant should have total responsibility for all cash payment functions. C.Payments should be authorised before they are made D.Supporting documentation should be destroyed immediately after payment to avoid incorrectly twice.arrow_forwardAccounting What role does internal control play in ensuring accurate revenue recognition and preventing fraud?arrow_forward
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