Audit in CIS Environment Quiz 3

Audit in CIS Environment Quiz 1-4.) Four basic revenue cycle activities 5-8.) Four general threats in revenue cycle 9-12.) Four steps to sales order entry 13-17.) Threats of sales order entry and corresponding controls 18-19.) Two main parts of the shipping process 20.) It Identifies which products, and the quantity of each product, to remove from inventory and ship. In which revenue cycle activity is this prepared? 21-22.) What two documents are sent to the carrier with the goods, one which identifies the goods and quantity of such goods packed and the other which sets responsibility over goods to be shipped. How many copies of these documents are made? To whom are these copies given? 23-25.) Threats and controls of shipping process 26.) What are included in shipping errors? 27.) This is created in the billing department using the packing slip, billing department and the sales order. What are updated based on these documents? 28.) This contains the list of various customer payments which serves as basis for updating subsidiary ledger for such payment. 29-30.) Two methods of billing customers. 31-34.) Threats and controls to billing 35-36. ) Threats to cash collections

37-40.) Four basic expenditure cycle activities. 41-44) Four general threats in expenditure cycle 45-47) Specific threats in expenditure cycle 48.) This document is prepared by the department when inventory falls below reorder point and inventory must is requested 49.) This document is prepared by the appropriate department noting the vendor where the inventory being requested is to be bought, the date when the item must be received, the items needed and the quantity. 50.) This document is addressed and designed to inform the seller of the order 51-57.) Threats and controls to ordering 58.) This is prepared by the receiving clerk after comparing packing slips, inspecting and counting goods received. 59-62.) Threats and controls in receiving 63-64.) Invoice must match with which two documents before it is approved match with which two documents before it is approved? 65-66.) Threats and controls in approving supplier invoices 67-71.) Threats and controls in cash disbursements

Audit in CIS Environment Quiz 1-4.) Four basic revenue cycle activities 5-8.) Four general threats in revenue cycle 9-12.) Four steps to sales order entry 13-17.) Threats of sales order entry and corresponding controls 18-19.) Two main parts of the shipping process 20.) It Identifies which products, and the quantity of each product, to remove from inventory and ship. In which revenue cycle activity is this prepared? 21-22.) What two documents are sent to the carrier with the goods, one which identifies the goods and quantity of such goods packed and the other which sets responsibility over goods to be shipped. How many copies of these documents are made? To whom are these copies given? 23-25.) Threats and controls of shipping process 26.) What are included in shipping errors?

27.)

This is created in the billing department using the packing slip, billing department and the sales order. What are updated based on these documents? 28.) This contains the list of various customer payments which serves as basis for updating subsidiary ledger for such payment. 29-30.) Two methods of billing customers. 31-34.) Threats and controls to billing 35-36. ) Threats to cash collections 37-40.) Four basic expenditure cycle activities. 41-44) Four general threats in expenditure cycle 45-47) Specific threats in expenditure cycle 48.) This document is prepared by the department when inventory falls below reorder point and inventory must is requested 49.) This document is prepared by the appropriate department noting the vendor where the inventory being requested is to be bought, the date

when the item must be received, the items needed and the quantity. 50.) This document is addressed and designed to inform the seller of the order 51-57.) Threats and controls to ordering 58.) This is prepared by the receiving clerk after comparing packing slips, inspecting and counting

goods received. 59-62.) Threats and controls in receiving 63-64.) Invoice must match with which two documents before it is approved match with which two documents before it is approved? 65-66.) Threats and controls in approving supplier invoices 67-71.) Threats and controls in cash disbursements