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Final exam reviews - Part 2 Short answer Flashcards | StudBud
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Final exam reviews - Part 2 Short answer
Final exam reviews - Part 2 Short answer
20 terms
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StudBud Administration
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Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Why could lack of planning be harmful for smaller companies?
They lack large cash reserves
Errors are easier to fix
It doesn’t matter for small companies
They don’t need formal planning
2
What is a key control for preventing sales to customers with past-due accounts?
Reviewing sales orders
Up-to-date credit records
Only credit limit checks
Checking inventory only
3
How can an accountant contribute to a computer acquisition team?
As the primary leader
As a system coder
As a team participant
By doing all financial work
4
How often should a small company review its AIS plan?
When errors arise
Annually
Monthly
Periodically
5
Why might only a credit limit check be insufficient?
Checks balance, not account status
Doesn't include past dues
Only checks if funds are available
Can be easily bypassed
6
In what role can an accountant assist in computer acquisition?
Inventory reporting
Policy making
Cost estimation
Sales budgeting
7
How can a computer system identify a customer with overdue payments?
By checking credit balance only
By checking inventory
By reviewing sales data
By checking account payment history
8
Why should computer experts not solely control the computer acquisition process?
No one else is available
They might miss cost factors
Accountants know more
Tech support isn’t needed
9
How can AIS planning benefit small companies even with limited budgets?
Increases payroll
Allows for quick updates
Reduces need for tech experts
Facilitates informed budgeting
10
Why should an accountant be involved in the computer acquisition process?
They are system output users
They are IT experts
They train employees
They have control over IT budgets
11
Who should review accounts with past-due balances before a new sale?
Credit manager
Accountant
Sales team
Customer support
12
Why is AIS planning important even for small companies?
Boosts employee morale
Ensures growth and system value
Prevents tech support
Reduces system costs
13
What should happen if a sale fails the credit limit or past-due test?
Process as usual
Send to manager for approval
Automatically reject
Proceed with limited credit
14
What might help small businesses with minimal IS planning?
Focused, simple cost-benefit analysis
Hiring more consultants
Expensive data management systems
Using full external audits
15
Who benefits most from minimal planning in small companies?
IS employees
Systems analysts
All employees
Management
16
How can a system automate credit control for past-due accounts?
Limit inventory orders
Lock user access
Program to check due dates
Send invoices only
17
Which task is an accountant NOT typically responsible for in computer acquisition?
Software coding
Cost analysis
System development
Data security
18
Who should decide on additional sales to customers with overdue payments?
Customer service
Sales team
Credit manager
Accountant
19
What document should a credit manager review for overdue accounts?
Inventory list
Sales revenue
Accounts receivable aging
Annual income statement
20
Which of these is a primary role for accountants in acquisition?
Manage data security
Oversee server updates
Train the sales team
Assess cost-benefit for systems
