1 Which of the following statements is not true about the three main transaction

Question

1

Which of the following statements is not true about the three main transaction cycles in the typical business?

In the Expenditure Cycle, the business receives resources in exchange for its expenditures.

In the Expenditure Cycle, the business incurs expenditures in exchange for resources.

In the Revenue Cycle, the business provides value added through its products or services.

In the Conversion Cycle, the business provides value added through its products or services.

In the Revenue Cycle, the business receives revenue from outside sources.

2

The Customer Order Process typically includes activities that take place in all of the following functions, except the ______________.

sales function

regulatory reporting function

accounting function

production function

logistics function

3

Assume that you are a customer of a bank. When interest is credited to your savings account at your bank, it is called a:

Transaction

function

calculation

decision

process

4

Which of the following activities does not occur within the order fulfillment process?

The warehouse forwards a purchase requisition in order to buy goods from a vendor.

The warehouse prepares the shipment and produces internal documentation.

The sales department receives a customer inquiry and issues a quotation indicating price and availability.

The sales department forwards a sales order to the warehouse.

The accounting department issues an invoice to the customer.

5

All of the following are strategies for acquiring IT applications except:

Outsourcing

All of these are valid strategies

Using open-source software

Purchasing a pre-written application

Custom development of an application

6

All of the following cycles are part of the Transaction Processing System, except:

The conversion cycle

The administration cycle

The expenditure cycle

The revenue cycle

None of these answers are correct

Explanation / Answer

Solution:

6 The answer to this question is - The administrative cycle. It is not a part of the Transaction Processing System 4 The answer to the question is - The warehouse forwards a purchase requisition in order to buy goods from a vendor. 3 The answer to this question is - It is Termed as Transaction 2 The answer to the question is - regulatory reporting function

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.