Accounting Misc Miscellaneous Expense Chapter 12

Accounting Information Systems, 13e (Romney/Steinbart)Chapter 12 - The Revenue Cycle: Sales to Cash Collections12.1 Describe the basic business activities and related information processingoperations performed in the revenue cycle.1) Basic segregation of duties requires the credit manager reports to the ________ and the treasurer report to the ________ . A) treasurer; controller B) treasurer; vice president of finance C) controller; vice president of finance D) marketing manager; vice president of finance 2) The ________ normally triggers the billing process in the revenue cycle.A) sales order received from the sales departmentB) picking ticket received from the sales departmentC) packing slip received from the shipping departmentD) journal voucher received from the shipping department3) The ________ normally triggers the customer payment recording process.A) sales invoiceB) deposit slipC) remittance adviceD) customer monthly statement4) The ________ should always be included with a merchandise shipment to a customer.A) picking ticketB) packing slipC) sales invoiceD) remittance advice15) According to generally accepted accounting principles, a sale is recognized when A) cash is received from the customer.B) inventory is removed from the warehouse.C) inventory becomes the legal property of the customer.D) a sales order is approved by sales, inventory control, and credit departments.6) ________ is not a basic activity of