166 Final Study S17(3) - Study Topics for Final Exam BUS...

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Study Topics for Final Exam BUS 166 Spring 2017: 40 multiple choice + essay on case 1. List the 4 basic activities of the expenditure cycle. 2. List the 4 basic activities of the revenue cycle. 3. Describe the “risk assessment” process. 4. What are the criteria for vendor selection in the expenditure cycle. 5. What data should be found on a receiving report. 6. Who should prepare a debit memo when goods received differ from the purchase order. 7. What is FEDI? How does it operate? What is EDI? How does it operate? 8. In the expenditure cycle, list the steps after a purchase request is approved? 9. Differentiate a purchase requisition from a purchase order from a blanket purchase order. 10. In a JIT inventory system, inventory purchases are initiated by what? 11. Name the documents needed by Accounts Payable to approve a payment. 12. Describe the threat nullified by reconciling packing slips to purchase orders. 13. Describe the process needed to nullify paying a phony invoice received.
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