Quiz 11 - 11021 1.

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1. 11-021   The receiving department has two major responsibilities in connection with the expenditure cycle.  Identify one of these responsibilities.    Student  Response Value Correct Answer Feedback A.  shipping products  most efficiently and  at the lowest cost      B.  deciding if the  delivery should be  accepted 100%       C.  verifying any  purchase discounts  for the delivery      D.  deciding on the  location where the  delivery will be  stored until used       Score: 4/4    2. 11-038   A voucher package should include    Score: 0/4    3. 11-002
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  Within the expenditure cycle, internal information flows    Score: 4/4    4. 11-048   Which of the following is  not  a common control for ensuring inventory is secure and inventory  counts are accurate?    Score: 4/4    5. 11-041   When purchasing miscellaneous supplies, companies can reduce costs, improve efficiency, and  combat employee fraud by using   
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  Score: 0/4    6. 11-088   ALERT. ...THIS QUESTION COULD NOT BE FORMATTED FOR ON-LINE DISPLAY. THIS TEXT WAS INSERTED TO M Student Response: Score:   7. 11-069   In the expenditure cycle, evaluated receipt settlement increases efficiency by    Score: 4/4    8. 11-070   In the expenditure cycle, financial data electronic interchange increases efficiency by   
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  Score: 4/4    9. 11-043   When a legacy system is replaced with an integrated Enterprise Resource Planning (ERP) system,  many benefits are realized for the organization. What is a key improvement in the record keeping  function?    Score: 4/4    10. 11-034   Which of the following is  not  an advantage of a voucher system?    Score: 4/4    11. 11-085
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  How can information technology be used to improve the vendor invoice approval process?  Student Response: Sample Correct Answer General Feedback: Score:   12. 11-025   What is one of the best ways to improve the overall efficiency and effectiveness of the receipt and  storage of ordered items?    Score: 4/4    13. 11-075   The receiving clerk at Folding Squid Technologies examines incoming shipments and checks their  purchase order numbers. A receiving report is then sent to accounts payable, where it is reconciled  with the relevant purchase orders and invoices and payment is authorized. Which of the following  would correct control weaknesses, if any, related to these activities?   
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  Score: 0/4    14. 11-059   The management at Sad Clown Pajamas, an Internet-based wholesaler, is considering a new  inventory control system. The current system is inadequate because it results in stockouts that  interrupt production and excess stocks of some materials that result in markdowns and high 
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Quiz 11 - 11021 1.

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