DeVry ACCT 571 Week 5 Quiz Latest

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DeVry ACCT 571 Week 5 Quiz Latest

(TCO E) A __________ authorizes the transfer of raw goods needed for production from the storeroom to the production facilities.

master production schedule

materials requisition

move ticket

production order

Instructor Explanation: Chapter 14, page 412

Points Received: 2 of 2

Comments:

Question 2. Question : (TCO E) Labor productivity is measured by the average product of labor; i.e., the quantity produced divided by the labor time required to produce it. All other things held constant, an increase in labor productivity will increase throughput by

increasing productive capacity.

increasing productive processing time.

increasing yield.

increasing all components of throughput.

Instructor Explanation: Chapter 14 pages 423

Points Received: 2 of 2

Comments:

Question 3. Question : (TCO E) Theft or fraudulent distribution of payroll checks is a potential threat to the payroll processing activity. What is one control that can be implemented to help prevent paychecks being issued to a “phantom” or “ghost” employee?

the cashier should sign all payroll checks

prenumber all payroll checks

use an imprest account to clear payroll checks

paychecks should be physically distributed by someone who does not authorize or record payroll

Instructor Explanation: Chapter 15, page 450

Points Received: 2 of 2

Comments:

Question 4. Question : (TCO F) Concerning XBRL, which of the following statements is not true?

XBRL is a variant of XML.

XBRL is specifically designed for use in communicating the content of financial data.

XBRL creates unique tags for each data item.

XBRL’s adoption means accountants and systems professionals must know how to write XBRL code to take advantage of its benefits.

Instructor Explanation: Chapter 16, page 472-3

Points Received: 2 of 2

Comments:

Question 5. Question : (TCO F) Bobby Burns, CEO of Maudlin Motors, walked into the office of Tom Sanchez, chief information officer. “Tom,” he said. “We need some way of getting a better handle on our overall performance. The financial reports are all well and good, but we need to track customer satisfaction and other aspects of the business.” Tom should recommend that Maudlin Motors

implement a data warehouse system.

set up a data mining operation.

use online analytical processing (OLAP.)

implement balanced scorecard reporting.

Question 6. Question : (TCO E) What are some of the benefits of using incentives and bonuses? What are some dangers?

Question 7. Question : (TCO F) How is an audit trail used in the general ledger and reporting system?

 

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DeVry ACCT 571 Week 5 Quiz Latest