Reference no: EM132466942

Accounting Information system

Question 1: Statement evaluation. Indicate whether each of the following statements is (i) always true, (ii) sometimes true, or (iii) never true. For those that are (ii) sometimes true, explain when the statement is true.

Point a. A junction table would be required in a relational database for the sales/collection process.

Point b. Cash receipts clerks should reconcile a company's bank statement at least monthly.

Point c. Companies complete'all activities in the value chain to serve their stakeholders.

Point d. Customers should borrow money to take advantage of cash discounts in paying their bills.

Point e. Documents in the sales/collection process can be paper or electronic.

Point f. In the sales/collection process, separation of duties can be applied to credit decisions.

Point g. Restrictive check endorsements eliminate the need for other internal controls over cash.

Point h. Separation of duties helps safeguard inventory in the sales/collection process.

Point i. Transactions in the sales/collection process require a bill of lading. j. Web sites assist companies in the sales/collection process.