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- A company is trying to set up proper internal controls for their accounts payable/inventory purchasing system. Currently the purchase order is generated by the same person who receives the inventory. Together the purchase order and the receiving ticket are sent to accounts payable for payment. What changes would you make to improve the internal control structure? A. No changes would be made since the person paying the bills is different from the person ordering the inventory. B. The person in accounts payable should generate the purchase order. C. The person in accounts payable should generate the receiving ticket once the invoice from the supplier is received. D. The responsibilities of generating the purchase order and receiving the inventory should be separated among two different people.Which of the following is a disadvantage of the perpetual inventory system? A. Inventory information is in real-time. B. Inventory is automatically updated. C. It allows managers to make current decisions about purchases, stock, and sales. D. It is cost-prohibitive.In a merchandising (retail) type businesses, how can you use the periodic inventory method and still use a computer to monitor with inventory?
- Sunset Graphics often buys inventory after receiving a sales order from the customer. Suppose you are asked to prepare one UML class diagram that combines both the sales and collection process and the purchases and payments process. What would be shared among those processes? What would be unique to each process? Why?In the revenue cycle (for sales on credit), a customer places an order for a certain product. Which step does not occur before shipping the goods to the customer? Check inventory availabilityPick and pack the goodsCheck customer creditBill the customerObtain the customer orderWithout a computerized inventory accounting system, a perpetual inventory system would most easily be used by a? Automobile dealership, hardware store, drugstore, or consumer-electronics store.
- Describe the purpose of a purchase order by selecting the correct statement(s) below. (Check all that apply.) A purchase order is a document the purchasing department uses to place an order with a vendor. Multiple copies of the purchase order are distributed to other departments to increase internal control of company pu A purchase order authorizes a vendor to ship ordered merchandise at a stated price and terms. A purchase order is a bill received from the vendor that reflects the amount owed by the buyer.Sawicki Music Supply is a mail-order business that accepts merchandise orders by telephone and mail. All payments must be prepaid with a major credit card. Once an order is received, either the item is found in inventory and shipped immediately, the item is not found in inventory and is ordered from the manufacturer, or a notice is sent to the customer indicating that the item is no longer stocked. Required Prepare a context, intermediate, and elementary-level data flow diagram for Sawicki Music Supply. For the elementary-level diagram, explode the inventory function.Describe the data flow in the buying process that begins when the purchasing organization sends a check to a vendor to settle an invoice for goods bought.
- The functions of and documents generated by which of the below departments determine when a wholesaler that ships goods to customers has the right to record a sale? Question options: The receiving department The credit department The customer order department The shipping departmentOLTP VERSUS OLAP SERVERS For each of the following processes, state whether OLTP or OLAP is appropriate, and why. An order entry system that retrieves customer information, invoice information, and inventory information for local sales. An order entry system that retrieves customer information, invoice information, inventory information, and several years of sales information about both the customer and the inventory items. An order entry system that retrieves customer information, invoice information, inventory information, and information to compare the current sale to sales across several geographic regions. An order entry system that retrieves customer information, invoice information, inventory information, and accounts receivable information for sales within one marketing region. An insurance company requires a system that will allow it to determine total claims by region, whether a relationship exists between claims and meteorological phenomena, and why one region seems to be…XYZ pharmaceutical company has the following situation involving the processing of purchases transaction, were the outside entities are suppliers (who receive purchase orders and ship ordered goods with packing slip), the inventory control department (which prepares requisition related to the needed goods), the store room( which accepts received goods from the receiving department together with receiving reports), and the cash disbursements department ( which receives approved suppliers invoices, together with supporting purchase orders and receiving reports), and management (which receives purchase analysis reports from purchasing ) Required: Draw a context diagram (data flow diagram) for the situation Prepare in good form level zero data flow diagram that articulates with links to context diagram in A the sub processes Preparing the requisitions for needed goods Place order for goods Receive and count goods Place goods in store room Record invoice and approve for payment Prepare…