Reference no: EM132814037

Problem 1: What is the control objective in the general ledger and reporting system?

A. Accuracy of data entries are verified

B. Source of any remittances are identified

C. Transactions are not properly authorized

D. Updates to the general ledger are properly authorized

Problem 2: What is(are) the principal objective(s) of the cost accounting system?

A. To provide accurate cost data about products for use in pricing and product mix decisions

B. To provide information for planning, controlling, and evaluating the performance of production operations

C. To collect and process the information used to calculate the inventory and cost of goods sold values

D. All of the above

Problem 3: How can accountants be not involved in product design?

A. Providing data about repair and warranty costs associated with existing products

B. Showing how various design trade-offs affect production costs and thereby profitability

C. Ensuring that the AIS collects and reports costs in a manner consistent with the production planning techniques used by the company

D. Ensuring that the AIS is designed to collect and provide information about the machine setup and materials handling costs associated with alternative product designs