61 data about all of the following facets of a business activity are most likely to 4306164

61 data about all of the following facets of a business activity are most likely to 4306164

61) Data about all of the following facets of a business activity are most likely to be recorded in a master file except the

A) business activity.

B) resources affected by the business activity.

C) people who participate in the business activity.

D) place the business activity occurs.

62) Which of the following statements about data processing methods is true?

A) Online real-time processing does not store data in a temporary file.

B) Batch processing cannot be used to update a master file.

C) Control totals are used to verify accurate processing in both batch and online batch processing.

D) Online real-time processing is only possible with source data automation.

63) In an ERP system, the module used to record data about transactions in the revenue cycle is called

A) order to cash.

B) purchase to pay.

C) financial.

D) customer relationship management.

64) A delivery of inventory from a vendor, with whom a credit line is already established, would be initially recorded in which type of accounting record and as part of what transaction cycle?

A) purchases journal; expenditure cycle

B) general journal; expenditure cycle

C) general ledger; expenditure cycle

D) cash disbursements journal; production cycle

65) Implementation of an ERP system requires increased focus on all except which of the following controls ?

A) Segregation of duties between custody, authorization, and recording

B) Data entry controls on validity and accuracy

C) Controls over access to data

D) Appropriate disposal of hard copy reports

66) Which statement below regarding the AIS and managerial reports is false?

A) The AIS is best utilized for financial data while the management information system is best utilized for operational data.

B) The AIS must be able to provide managers with detailed operational information about the organization's performance.

C) Both financial and nonfinancial data are required for proper and complete evaluation of organizational performance.

D) Most source documents capture both financial and nonfinancial data about business transactions.

67) What is the purpose of source documents? What controls are embedded in source documents? Give two examples of source documents.

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