Accounting Information Systems 15th Global Edition by Marshall B. Romney Solution manual

B   3. Availablec. Before production reports are accepted, two clerks working
independently must produce the same information.
H   4. Reputabled. An accounts receivable aging report included all customer
accounts.
D   5.Completee. A report was checked by three different people to make sure it was correct.
K   6. Concisef. An accounts receivable aging report is used in credit-granting
decisions.
L   7. Consistentg. An accounts receivable aging report was received before the
credit manager had to decide whether to extend credit to a customer.
M  8. Currenth. Needing help with a decision, a manager sought the opinion of a highly regarded expert.
N  9. Objectivei. To protect intellectual property, a company encrypted the data, stored it in a very secure facility, and limited its use to five people.
F   10. Relevantj. Tired of keying supplier prices into a database, a purchasing manager insisted the data be sent in machine readable form.
G  11. Timelyk. After a lengthy, rambling presentation, a CEO insisted future presentations contain only pertinent facts and last no more than 30 minutes.
J   12. Useablel. A new manager insisted that monthly reports look the same so she could compare a new month’s results to previous months.
A  13. Understandablem. After making a decision based on outdated data, a new CFO required all analysis to be conducted with up-to-date data.
C  14. Verifiablen. Reluctant to rely on his personal feelings about a decision, a manager sought the opinion of an outside expert.
 
1.5     Classify each of the following items as belonging in the revenue, expenditure, human resources/payroll, production, or financing cycle.
 
Collect payment on customer accounts.           – Revenue cycle
Complete a picking ticket for a customer order.      – Revenue cycle
Decide how many units to make next month.          – Production cycle
Disburse payroll checks to factory workers.           - Human resources/payroll cycle
Draw upon line of credit.                        – Financing cycle
Establish a $10,000 credit limit for a new customer.      – Revenue cycle
Hire a new assistant controller.                – Human resources/payroll cycle
Obtain a bank loan.                                – Financing cycle
Pay federal payroll taxes.                        - Human resources/payroll cycle
Pay for raw materials.                             – Expenditure cycle
Pay off mortgage on factory.                        – Financing cycle
Pay property taxes on office building.                    – Expenditure cycle
Pay sales commissions.                           - Human resources/payroll cycle
Pay utility bills.                               – Expenditure cycle
Purchase raw materials.                         – Expenditure cycle
Put purchased goods into the warehouse.        – Expenditure cycle
Record factory employee timecards.                      - Human resources/payroll cycle
Record goods received from vendor.               – Expenditure cycle
Sell concert tickets.                                – Revenue cycle