B) the expenditure cycle
C) the human resources / payroll cycle
D) the financing cycle
Answer: B
Concept: Information needs and business processes
Objective: Learning Objective 2
Difficulty: Moderate
AACSB: Analytical Thinking
14) In which transaction cycle would information relating to employees benefit be most likely to pass between internal and external accounting information systems?
A) the revenue cycle
B) the expenditure cycle
C) the human resources / payroll cycle
D) the financing cycle
Answer: C
Concept: Information needs and business processes
Objective: Learning Objective 2
Difficulty: Moderate
AACSB: Analytical Thinking
15) In which transaction cycle would information for paying dividends be most likely to pass between internal and external accounting information systems?
A) the revenue cycle
B) the expenditure cycle
C) the human resources / payroll cycle
D) the financing cycle
Answer: D
Concept: Information needs and business processes
Objective: Learning Objective 2
Difficulty: Moderate
AACSB: Analytical Thinking
16) In which transaction cycle would information for retiring long-term debt be most likely to pass between internal and external accounting information systems?
A) the revenue cycle
B) the expenditure cycle
C) the human resources / payroll cycle
D) the financing cycle
Answer: D
Concept: Information needs and business processes
Objective: Learning Objective 2
Difficulty: Moderate
AACSB: Analytical Thinking
17) In which transaction cycle would information for initiating back orders for out of stock goods be most likely to pass between internal and external accounting information systems?
A) the revenue cycle
B) the expenditure cycle
C) the human resources / payroll cycle
D) the financing cycle
Answer: A
Concept: Information needs and business processes
Objective: Learning Objective 2
Difficulty: Easy
AACSB: Analytical Thinking
18) Identify the party below that is not external to the firm.
A) customer
B) vendor
C) government agencies
D) CEO
Answer: D
Concept: Information needs and business processes
Objective: Learning Objective 2
Difficulty: Moderate
AACSB: Analytical Thinking
19) Identify the party below that is not internal to the firm.
A) customer
B) management
C) employees
D) CEO
Answer: A
Concept: Information needs and business processes
Objective: Learning Objective 2
Difficulty: Easy
AACSB: Analytical Thinking
20) Receiving goods from vendors is part of which cycle?
A) the revenue cycle
B) the financing cycle
C) the expenditure cycle
D) the payroll cycle
Answer: C
Concept: Information needs and business processes
Objective: Learning Objective 2
Difficulty: Easy
AACSB: Analytical Thinking