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Question
The cash disbursement clerk performs all of the following tasks excepta. reviews the supporting documents for completeness and accuracy
b. prepares checks
c. signs checks
d. marks the supporting documents paid
Answer
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b. focus on output controls such as independent verification because internal processing controls are known to be correct since best practices are used..
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d. need not review access levels granted to users since these are determined when the system is configured and never change.
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Closed database architecture is
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b. a limitation inherent in traditional information systems that prevents data sharing.
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Separating the data warehouse from the operations databases occurs for all of the following reasons except
a. to make the management of the databases more economical
b. to increase the efficiency of data mining processes
c. to integrate legacy system data into a form that permits entity-wide analysis
d. to permit the integration of data from diverse sources
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Why does the payroll process lend itself to batch processing?
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The Golf Club Company makes custom golf clubs. The manufacturing supervisor interviews people who have specialized manufacturing skills, and he informs payroll when an employee is hired. The employees use a time clock to record the hours they work. The employees are also required to keep a record of the time they spend working on each order. The supervisor approves all time cards.
The accountant analyzes the job tickets and prepares a labor distribution summary. Payroll prepares the payroll register and paychecks. The supervisor distributes the paychecks to the employees. Payroll informs cash disbursement of the funds required to cover the entire payroll amount. The cash disbursements clerk ensures that there are adequate funds in the company's regular checking account to cover the payroll.
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c. production compares the number of hours reported on job tickets to the number of hours reported on time cards
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a. is typically under the control of external partners in the chain.
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Legacy systems are
a. old manual systems that are still in place.
b. flat file mainframe systems developed before client-server computing became standard.
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The recommended data architecture for an ERP includes separate operational and data warehouse databases.
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Sarbanes-Oxley (SOX)
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c. both a. and b.
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A shell company fraud involves
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d. a clerk paying a vendor twice for the same products and cashing the reimbursement check issued by the vendor.