384_F08_Midterm

Accounting 384 - MidtermFall 2008 (150 points)

Name__________________________________

Section _________________________________

MULTIPLE CHOICE (15 questions @ 4 points each = 60 total points)Identify the choice that best completes the statement or answers the question.

1. Information that does not omit important aspects of the underlying events or activities that it measures is a) Completeb) Accessiblec) Relevantd) Timely

2. When two knowledgeable people acting independently each produce the same information, this information is said to be a) Completeb) Relevantc) Reliabled) Verifiable

3. An accounting information system must be able to perform which of the following tasks? a) collect transaction data b) process transaction data c) provide adequate controlsd) all of the above

4. The business owners obtain financing from outside investors, which results in an inflow of cash into the company. This transaction is considered to be part of which cycle? a) the revenue cycleb) the payroll cycle c) the production cycle d) the financing cycle

5. Businesses usually use some type of documents in the data input step of the data processing cycle. Documents that are sent to customers or suppliers and then sent back to the organization in the course of a business transaction are known as a) turnaround documents. b) source documents. c) source data automation. d) rubber or bounce-back documents.

Score on page_______

Acct 384 Fall 2008 - Midterm

6. A listing of general ledger accounts by account number is called the 1. chart of accounts. 2. listing of accounts. 3. trial balance. 4. subsidiary accounts.

7. Something about which information is stored isa) attributeb) databasec) entityd) record

8. What is the most popular type of database?

a) hierarchical b) relational c) object-oriented d) network

9. Creating an empty table in a relational database requires use of the __________, and filling that table requires the use of __________.

a) DDL; DML b) DQL; SQL c) DDL; DQL d) DML; DDA

10. An attribute in a table that is a primary key in another table.

a) primary keyb) secondary keyc) foreign keyd) anomaly

11. One important constraint in a relational database environment is that a primary key uniquely identifies each row in a data table. This principle is called the

a) entity integrity rule. b) referential integrity rule. c) unique primary key rule. d) foreign key rule.



12. The groups of people about which an organization collects data to help it better plan, control, and evaluate performance of its basic business activities are the

a) employees. b) events. c) agents. d) entities.

13. Each event in an REA model will in most cases have at least one __________ agent and one __________ agent involved with the event.

a) internal; resource b) external; entity c) internal; employee d) internal; external

14. Which entity is likely to be part of both the revenue cycle and the expenditure cycle?

a) Receive Goodsb) Customerc) Receive Cashd) Inventory

15. M:N relationships must be implemented

a) As separate tablesb) With concatenated primary keysc) Both A and Bd) Neither A nor B



SHORT ANSWER (10 points each, 20 total points)

16. Briefly explain the difference between the financing business process and the revenue business process.

17. Briefly explain how to implement a one to many relationship on a data model into a physical database.



PROBLEMS18. Use the following acquisition/payment cycle information to develop an REA with both minimum

and maximum cardinalities for all relationships. (14 points).

Cyclone Florist Inc. is a thriving retailer with stores in several Midwestern cities. Cyclone Florist, Inc places orders monthly for inventory with several pre-approved vendors. Sometimes, Cyclone Florist, Inc. records information about new inventory items before purchasing the items so they can start advertising them to potential customers. For example, Cyclone Florist started advertising its CyChristmas poinsettia (with cardinal and gold leaves) months before purchasing the poinsettias from Collegiate Florist Supply Inc. Due to their high volumes, all inventory items ordered are received from vendors within 4 hours after the order is placed. All vendors except Hawkeye Flower Supply, Inc. grant Cyclone Florist Inc. credit for up to 30 days. Cyclone Florist Inc.’s office manager writes checks from its operating bank account. Cyclone Florist, Inc’s vendors do not allow it to make installment payments but will accept one check that covers two or more purchases. Cyclone Florist Inc. has a separate bank account for payroll purposes.



19. Write queries using the following Cyclone Political Banners Inc. revenue cycle database:(7 points each – 28 points total)

Inventory ItemNo, Description, UnitCost, SalePrice, QuantityonHand, QuantityonOrder

Cash AccountNo, AccountType, Bank, BeginningBalance, BeginningBalanceDate

SaleInvoiceNo, EmployeeNo, CustomerNo, InvoiceDate, TotalAmount

CashCollection CollectionNo, AmountReceived, ReceiptDate, EmployeeNo, AccountNo, CustomerNo, InvoiceNo

Employee EmployeeNo, EmployeeName, StreetAddress, City, State, ZipCode

Customer CustomerNo, CustomerName, CustomerAddress, CustomerCity, CustomerState, CustomerZipCode

Inventory/Sale InvoiceNo, ItemNo, Quantity

a. Write a SQL query to find the total for all cash collections for September 2008 (note: September 2008 has 30 days).

b. Write a SQL query to find the total for all cash collections for September 2008 from each customer (note: September 2008 has 30 days). Your results should list each customer number, customer name and total cash collections from that customer.



c. Calculate the average sales for each salesperson from Beaver, Iowa in January 2008 (hint: January was 31 days).

d. Write a SQL query to determine which date Cyclone Political Banners Inc. received payment from its September 1, 2008 sale of fifty ‘Cy for President’ banners to a customer named ‘Herky Hawkeye’ (hint: inventory description is ‘Cy for President banner’). Note: in a separate sale on September 1, 2008, Herky Hawkeye purchased fifty-one ‘Herky for President’ banners.

;



20. Cy’s Autumn Decorations, Inc. needs to create a new revenue database. So far, you have identified the following relationships. Explain minimum and maximum cardinality in each relationship A and B. (12 points total)

a.

b.


Cash receipt Customer

Cash receipt

Sale


21. Answer the following questions for the two components of Cy’s Autumn Decoration Inc. REA/ERD model shown in problem 20. (16 points total):

a. Create a primary key for the Sales entity __ ___

b. What types of entities are Customers and Employees (i.e. agents, events or resources)? ______________

c. Create a primary key for the Cash Receipts entity __________________

Below you are given groups of two entities and their associated relationship. For each of these, indicate the correct method for implementing the relationship in relational table form. Assume that it is optimal to post the key whenever possible.

d. SALES S/CR CASH RECEIPT_____ make a separate table to represent S/CR_____ post the key of Sales into the Cash Receipt table_____ post the key of Cash Receipt into the Sales table

e. CASH RECEIPT CR/C CUSTOMER_____ make a separate table to represent CR/C_____ post the key of Cash Receipt into the Customer table_____ post the key of Customer into the Cash Receipt table

f. Will Cy’s Autumn Decoration Inc. accept cash receipts that are not related to at least one sale?___Yes ___No

g. Does Cy’s Autumn Decoration Inc. require that at least one employee is involved with each cash receipt? ___Yes __ No

h. Can Cy’s Autumn Decoration Inc. enter a new customer into its database without first entering information about cash receipt associated with that customer?___Yes ___ No


384_F08_Midterm

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