3. Reading review problem Richic\'s Diner is a 1950s stylc restaurant chain with

Question

3. Reading review problem Richic's Diner is a 1950s stylc restaurant chain with locations throughout southern California: you can learn morc about them at www.richiesdiner .com. Richie's has a fairly standard process for serving food that goes something like this: 1. Seat customers. 2. Give each customer a menu. 3. Take the customer's drink order 4. Take the customer's food order. 5. Prepare the food. 6. Deliver the food to the table. 7. Present the bill at the end of the meal. 8. Collect payment. Servers record drink and food orders on paper the kitchen uses those orders to prepare the food. Servers use copies of the orders to prepare the bill. Customers are supposed to pay at the cash register, but many give their credit card or cash to the server for processing. a. Comsider the irve business procesves deserited in the chapter Which onie best applies to the activitics described? Why" h. Does Richie's need an accounting information sysem? Why or why not? c. IF you were an accountant for Richie's, how might you demonstrate the AICPA core compe- d. Suggest one example of cach generic AIS clement within the context of Richie's. The e. Do a Google search on "operating a successfal restaurant." Pick one of the articles it pro tencies discussed in the chapter in your interaction with management? generic elements are input, process, output, storage, and internal control. duces and evaluate it using the UMUC criteria.

Explanation / Answer

Q8. 1) Option A is the correct answer . As bank reconciliation can be done according to the cash book maintained by the organisation at any period of time alterations can be done and is done by the Employees of the organisation which is Internal control

2. The materiality conceptis the principle in financial accounting and reporting that firms may disregard trivial matters, but they must disclose everything that is important to the report audience. Items that are important enough to matter are material items. Thus the Option B is the correct answer. The employees should provide information for making decisions and nothing should be of false value as it will affect the working of the organisation because the investors or shareholders make decisions on the basisi of information provided to them , thus nothing should be hidden from them.

3. option b is the correct answer. they do not always incorporate IT as Human resource is the biggest asset for AIS without People nothing can be monitored or processed

4. option B is the correct answer. Internal control , general ledger software. As the software is operated by the employees of the organisation.

5. option B is the correct answer. As the AICPA web site will show the correct information regarding the fraud examination. and according to the Accounting standards.

Sorry not aware about The 3rd question as i dont have the following chapter.

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