Implementation of an ERP system requires increased focus on all except which of the following controls? A...
Implementation of an ERP system requires increased focus on all except which of the following controls?
| A |
controls over access to data |
|
| B |
data entry controls on validity and accuracy |
|
| C |
appropriate disposal of hard copy reports |
|
| D |
segregation of duties between custody, authorization, and recording |
Homework Answers
| Option C is the answer | ||
| Enterprise resource planning (ERP) is a central database for various of business operating which is aimed at minimizing the manual labor and increasing the operational efficiency as a whole |
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Implementation of an ERP system requires increased focus on
all except which of the following controls?
A...
Which of the following controls can minimize the threat of theft of cash? A Separation of...
Which of the following controls can minimize the threat of theft of cash? A Separation of billing and shipping functions. B Use of cash registers. C Bar-code and RFID technology. D Restriction of access to master data. Identify one way to improve the accuracy of inventory records that use a perpetual inventory approach A use of an MRP inventory system B require the accounting department to calculate cost of goods sold periodically C use of an ERP system D use...
(Click the icon to view the intemal controls.) i Click the icon to view the test...
(Click the icon to view the intemal controls.) i Click the icon to view the test of controls.) Begin by selecting one internal control for each of the six transaction-related audit objectives for cash disbursements. Then, for ea Internal Test of Transaction-Related Audit Objectives Control Controls 1. Recorded cash disbursements are for goods and services actually received (occurrence) 2. Existing cash disbursement transactions are recorded (completeness). 3. Recorded cash disbursement transactions are accurate (accuracy) 4. Cash disbursement transactions are correctly...
3. What are the advantages and disadvantages of the various options that Amelectserv is evaluating ERP...
3. What are the advantages and disadvantages of the
various options that Amelectserv is evaluating
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can contain vi XPIRED Most of the features of Word have been disabled. Reactivate exceeding benefits is premised on the concept of absolute assurance. d. 29). A voucher system is a series of p...
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Create a system flowchart and review the controls in the process. See attached document for details....
Create a system flowchart and review the controls in the
process. See attached document for details.
Flowchart Assignment Business Process Diagramming and Control Evaluation The project is based on the business processes and controls for Order Entry/ Shipping and Billing / Cash Receipts at NashGulch Furnishings. NashGulch Furnishing sells high end, i.e. expensive and unique, home and office furnishings to design studios, building contractors, and architects. Customers place orders over the phone to the NashGulch customer fulfillment center, Nash Gulch...
What answers should I choose from Q1 to Q5? 1) Which of the following could be...
What answers should I choose
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1) Which of the following could be examples of controls in an airline's online reservation system? (0) A message asking for confirmation of chosen flight dates, (ii) a link to a web page of an affiliated car rental company, (iii) a page seeking confirmation of payment details, (iv) a message informing the buyer that no flights are available at the chosen time, (v) a pop-up screen which appears once the transaction...
1. Which of the following must be taken into consideration before a general journal adjustment is...
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1. You have performed a review engagement for XYZ Limited. The level of assurance to be...
1. You have performed a review engagement for XYZ Limited. The level of assurance to be expressed in your report is: a) Reasonable b) Low c) Limited d) None 2. Consider the following characteristics of business: i. Inadequate segregation of duties ii. General lack of mitigating (compensating) controls iii. More reliance on test of controls iv. More reliance on substantive procedures From an audit perspective, a small business would generally exhibit: a) I and iv only b) i and ii...
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1. Consider the following statements: I. Per COSO, Control Activities are the policies and procedures...
1. Consider the following statements: I. Per COSO, Control Activities are the policies and procedures that help insure that management’s directives are carried out. II. A Reliance Strategy is used when control risk is considered High. a. I is true; II is true b. I is true; II is false c. I is false; II is true d. I is false; II is false 2. Management's attitude toward aggressive financial reporting and its...
(Click the icon to view the intemal controls.) i Click the icon to view the test of controls.) Begin by selecting one internal control for each of the six transaction-related audit objectives for cash disbursements. Then, for ea Internal Test of Transaction-Related Audit Objectives Control Controls 1. Recorded cash disbursements are for goods and services actually received (occurrence) 2. Existing cash disbursement transactions are recorded (completeness). 3. Recorded cash disbursement transactions are accurate (accuracy) 4. Cash disbursement transactions are correctly...
3. What are the advantages and disadvantages of the
various options that Amelectserv is evaluating
ERP IMPLEMENTATION COSTS Berp Corporation: ON Premise Macrosoft ON Premise 4718 4719 Macrosoft Cloud 4.718 2080 1575 2 DOO 2250 2.250 2980 none none 1675 none 349 10.200 InitialHardware Network Costs Workstations UPS for Werkstations Laptops Server Back Server Server UPS Systems Router Network Infrastrutture set-up Total Ongoing Hardware Network Costs Hardware Maintenance Router Maintenance Network in structure Maintance 2MBPS internet line Totalt year) Total...
can contain vi XPIRED Most of the features of Word have been disabled. Reactivate exceeding benefits is premised on the concept of absolute assurance. d. 29). A voucher system is a series of prescribed control procedures a. to check the credit worthiness of customers. b. designed to assure that disbursements by check are proper. c. which eliminates the need for a sales journal d. specifically designed for small firms who may not have checking accounts. 30). Under a voucher system,...
Create a system flowchart and review the controls in the
process. See attached document for details.
Flowchart Assignment Business Process Diagramming and Control Evaluation The project is based on the business processes and controls for Order Entry/ Shipping and Billing / Cash Receipts at NashGulch Furnishings. NashGulch Furnishing sells high end, i.e. expensive and unique, home and office furnishings to design studios, building contractors, and architects. Customers place orders over the phone to the NashGulch customer fulfillment center, Nash Gulch...
What answers should I choose
from Q1 to Q5?
1) Which of the following could be examples of controls in an airline's online reservation system? (0) A message asking for confirmation of chosen flight dates, (ii) a link to a web page of an affiliated car rental company, (iii) a page seeking confirmation of payment details, (iv) a message informing the buyer that no flights are available at the chosen time, (v) a pop-up screen which appears once the transaction...
1. Which of the following must be taken into consideration before a general journal adjustment is authorised? a. The need to incorporate data from external sources such as bank statements b. Accounting policies and procedures C. Accounting standards d. All of the options are correct 2. Online banking is unlikely to be helpful: a b. C. d. in terms of being able to monitor cash transactions more easily. in terms of being able to reconcile cash transactions more easily. for...
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