ACCT 451 Week 5 Quiz – DeVry



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ACCT 451 Week 5 Quiz – DeVry

1.(TCO 5) A __________ authorizes the transfer of raw goods needed for production from the storeroom to the production facilities.

2.(TCO 5) Folding Squid Technologies has installed a new production monitoring system that is expected to reduce system breakdowns by 28%. This system will increase throughput by

3.(TCO 5) 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?

4.(TCO 6) The benefits of XBRL include:

5.(TCO 6) 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

6.(TCO 5) Name some of the benefits of using electronic direct deposit to pay employees.

7.(TCO 6) How is an audit trail used in the general ledger and reporting system?