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AIS exam 1 Questions and Answers Graded A+
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AIS exam 1 Questions and Answers Graded A+ Given the following REA model snippet: Sale Order (0,N) - (1,N) Shipment - which of the following are true (circle all that are correct): 1. Every item on a Sale Order must be shipped on the same Shipment 2. Some items on a Sale Order can be shipped o...

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  • August 4, 2024
  • 25
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ais exam 1 questions and answers graded a
  • given the following rea model snippet purchase or
  • master data changes to master data are properly a
  • invalid vendors in system vendors are qualified b

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AIS exam 1 Questions and Answers
Graded A+
Given the following REA model snippet: Sale Order (0,N) - (1,N) Shipment - which of
the following are true (circle all that are correct):
1. Every item on a Sale Order must be shipped on the same Shipment

2. Some items on a Sale Order can be shipped one day, and the rest on another
Shipment

3. Shipments can be recorded without a Sale Order to expedite them

4. Shipments require a Sale Order

5. Sale Orders can be accepted but the shipment happens at a later date - answer 2.
Some items on a Sale Order can be shipped one day, and the rest on another Shipment

4. Shipments require a Sale Order

5. Sale Orders can be accepted but the shipment happens at a later date

Given the following REA model snippet: Purchase Order (0,1) - (1,1) Goods Receipt -
which of the following are WCGWs that the company needs to mitigate (circle all that
are correct):
1. Failure to receive goods that were ordered

2. Goods received that were not ordered

3. Purchase Order recorded before the Goods Receipt

4. Failure to record a Goods Receipt - answer 1. Failure to receive goods that were
ordered

2. Goods received that were not ordered

4. Failure to record a Goods Receipt

Given the following REA model snippet: Purchase Order (0,N) - (1,1) Goods Receipt -
which of the following are true:
1. Every item on a Purchase Order must be received on the same Goods Receipt

2. Some items on a Purchase Order can be received one day, and the rest on another
Goods Receipt

,3. This company allows goods to be received that were not ordered in order to expedite
manufacturing runs

4. This company expects all goods ordered to be received that same day - answer 2.
Some items on a Purchase Order can be received one day, and the rest on another
Goods Receipt

Master Data - answer -Changes to master data are properly authorized/valid.
-Changes made to master data are complete.
-Changes made to master data are accurate.

Invalid Vendors in system - answer -Vendors are qualified by the credit department
through D&B review / background check / by the QC department for quality concerns

-Vendor Approval form is signed

-Vendor addition report run monthly (ITD)

-Each vendor listed is validated against
approval documentation

-Someone in a role different than the role responsible for adding /approving vendors to
the system should review and sign off on.

Vendor-Purchase Agent conflict of interest restrictions are incorrect (Purchase Agents
do not have restrictions with the correct vendors) - answer -automated application
control: using data in the system from the Purchase Agent - Vendor relationship
-ITD Control: Like Invalid Vendor

Vendor data entry/update is NOT system-restricted to appropriate Department - answer
LAC/SOD governs who can update data; system-restricted to personnel who do not
purchase or pay for goods

Inventory Material Maximum Purchase Price is incorrect - answer standard purchase
price for inventory item
Would be like the Standard Sale Price for inventory item is incorrect (ITD control)

Inventory data entry/update is NOT system-restricted to appropriate Department -
answer LAC/SOD governs who can update material data; system-restricted to
personnel who do not control/count inventory, purchase, or pay for goods

Inventory QOH is inaccurate (found in a Purchasing Process) - answer periodic
physical checks of inventory
(automatically create purchase orders when the actual QOH becomes less than the
minimum QOH)

, Inventory Standard Purchase Price in the Vendor - Item master data is inaccurate. -
answer system copies standard purchase price from vendor-parts list and uses as
actual price for Purchase order (ITD control)

Inventory Items are assigned incorrect Vendor(s) in the Vendor - Item master data. -
answer system only allows the purchasing of an item from specified vendors
(vendor-parts list)

Fiscal Year - answer Changes are properly authorized/valid

Purchase Inventory Items at too high/inflated negotiated price on Purchase Contract -
answer The system requires any negotiated unit purchase price for an item on a
Contract to be no greater than the maximum amount for that specific item from the
inventory master data

Purchase Contract data entry/update is NOT system-restricted to Purchase Agents -
answer LAC/SOD control, purchase agents must login and only purchase agents
have access to the Enter Purchase Order screen

Purchase Contract created for items not needed - answer .

Purchase Contract specifies incorrect Fiscal Year - answer .

Purchase Order fails to specify/match/order against open Purchase Contract for the
appropriate fiscal year - answer Automated application control

Purchase Order specifies items not found on the matched Purchase Contract - answer
System copies data from matched Contract and limits items on the PO to those on the
matched Contract

Purchase Order specifies a quantity ordered greater than the amount allowed on the
matched Purchasing Contract - answer System copies data from matched Contract
and compares item quantity ordered on PO to Maximum Total Order Quantity on
matched Contract for the item

Purchase Order has incorrect purchase price for Inventory Item(s) ordered - answer -
Copy data from matched Contract
-Unit Purchase Price for a material on a Contract becomes the Actual Unit Purchase
Price for a material on a PO

Purchase Order created for items not needed - answer -Automated Control:
computer generated based upon current inventory levels and future needs

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