Reading review questions.
a. What is the basic purpose of each business process discussed in this chapter (conversion, financing, human resources)?
b. What are the similarities and differences between job costing and process costing systems? How is each system reflected in the organization of the accounting information system?
c. What are the four common transactions associated with the financing business process? What information must be tracked for each transaction?
d. What forms are commonly used in processing payroll transactions?
e. How are the purposes of internal control fulfilled in each business process discussed in the chapter?
f. Respond to the questions for this chapter’s “AIS in the Business World.”
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