Information Technology Auditing 4th edition James A Hall

Welcome to the Test Bank for “Information Technology Auditing 4th Edition” by James A. Hall. This Test Bank provides a comprehensive collection of exam-style questions and answers to help you prepare for your Information Technology Auditing exams efficiently.

ISBN-10: 1133949886 | ISBN-13: 978-1133949886

Chapter 9—Auditing the Income Cycle

TRUE/FALSE

1. The packing slip is also referred to as the transport discover.
ANS: False
2. The invoice of lading is a legal contract between the customer and the seller.
ANS: False
3. Another name for the inventory release form is the picking ticket.
ANS: True
4. Warehouse inventory records are the formal accounting records for inventory.
ANS: False
5. The purpose of the invoice is to bill the customer.
ANS: True
6. In most large organizations, the journal voucher file has replaced the formal general journal.
ANS: True
7. The cash receipts journal is a special journal.
ANS: True
8. In the income cycle, the internal control “restrict access” applies to physical assets only.
ANS: False
9. In real-time processing systems, routine credit authorizations are automated.
ANS: True
10. In a computerized accounting system, segregation of duties refers to inventory control, accounts receivable, billing, and general ledger tasks.
ANS: False

MULTIPLE CHOICE

1. The revenue cycle consists of
ANS: b. two subsystems–sales order processing and cash receipts
2. The reconciliation that occurs in the shipping department is intended to ensure that
ANS: c. the goods shipped match the goods ordered
3. The adjustment to accounting records to reflect the decrease in inventory due to a sale occurs in the
ANS: d. inventory control division
4. Which document triggers the revenue cycle?
ANS: b. the customer purchase order
5. Copies of the sales order can be used for all of the following except
ANS: a. purchase order
6. The purpose of the sales invoice is to
ANS: c. bill the customer
7. The customer open order file is used to
ANS: a. respond to customer queries
8. The stock release copy of the sales order is not used to
ANS: d. record the decrease of inventory
9. The billing department is not responsible for
ANS: a. updating the inventory subsidiary records
10. Customers should be billed for back-orders when
ANS: b. the backordered items are shipped

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A: Yes, the Test Bank questions are designed to simulate the types of questions you may encounter in your Information Technology Auditing exams.

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