8/8/25, 8:22 PM ACCTMIS 3600 Exam 2
ACCTMIS 3600 Exam 2 \2025-2026 \LATEST
VERSION WITH COMPLETE QUESTIONS
AND ACCURATE DETAILED ANSWERS
\VERIFIED 100% \GRADED A+
revenue cycle
expenditure cycle
5 business cycles production cycle
HR/payroll cycle
inventory, control and shipping cycle
Set of business activities and related information
processing operations associated with:
Revenue Cycle
providing goods/services
collecting cash payments
Maximizing inflow of revenues by providing the right
Primary objective of the
product in the right place at the right time for the right
revenue cycle
price
Control objective of the Each organization defines their own control
revenue cycle objectives
Examples of control All valid sales are recorded and none omitted
objectives for the revenue Sales are authorized according to company policy
cycle Recorded sales are valid and documented
1/22
,8/8/25, 8:22 PM ACCTMIS 3600 Exam 2
1. Sales order entry
2. Shipping
3. Billing
Level 0 functions of the
4. Cash collection
revenue cycle
1&2: Providing goods and/or services
3&4: Collecting cash payments
Usually performed by the sales order department and
processes include:
1. Take customer's order
Sales order entry (1.0) 2. Check customer's credit
3. Check inventory availability
4. Respond to customer inquiries (may be done by
customer service or sales order entry)
Why do we have sales To reduce human error and allow the customers to
order entry? enter data themselves
Two main tables for sales Sales order header and sales order item
order information
Refers to a specific customer - tied to customer
Sales order header
master
Sales order item Refers to product or item master table
When should credit sales Before the order is processed further than sales order
be approved? entry
2 types of authorization in 1. General Authorization
sales order entry (1.2) 2. Specific Authorization
Customer is in good standing and automatically
General Authorization
approved
For new members, customers with remaining
Specific Authorization balances, or those whose purchase exceeds their
credit limit; requires additional approval
What do you do after Check if there is sufficient inventory to fill order and
credit is approved? (1.3) tell customer shipping time
2/22
, 8/8/25, 8:22 PM ACCTMIS 3600 Exam 2
1. Complete sales order
2. Update new quantity in inventory
If inventory is available
3. Issue a picking ticket
4. Notify shipping, billing, inventory and customer
Document that lists item and quantity of inventory
Picking ticket
needed to be picked in the warehouse
1. Initiate back order
If there is not inventory
2. Notify production or purchasing that more
available
inventory is needed
All customer questions should be answered before
Responding to any
and after order - quality of customer service can be
customer questions (1.4)
critical to company's success
Automating customer service; no human involvement,
Website ordering
customer enters all their own information
Automating customer service; Customers order from
Kiosks
app/device - think McDonald's
Choice boards and Automating customer service; Sales order entry (SOE)
configuration websites system that allows customers to customize their order
Electronic data Automating customer service; links company to
interchange (EDI) customer for direct shipping
Automating customer service; automatically issues
ERP Systems
sales orders and transmits this to company
Automating customer service; Company has visibility
Vender managed
of customer inventory levels and creates orders as
inventory (VMI)
needed - think suppliers of grocery stores
Automating customer service; Merchandise shipped
Scan-based trading (SBT)
based on scanned sales data provided by customer
Automating customer service; Outsourcing sales
Outsourced order entry
order entry to Amazon
3/22
ACCTMIS 3600 Exam 2 \2025-2026 \LATEST
VERSION WITH COMPLETE QUESTIONS
AND ACCURATE DETAILED ANSWERS
\VERIFIED 100% \GRADED A+
revenue cycle
expenditure cycle
5 business cycles production cycle
HR/payroll cycle
inventory, control and shipping cycle
Set of business activities and related information
processing operations associated with:
Revenue Cycle
providing goods/services
collecting cash payments
Maximizing inflow of revenues by providing the right
Primary objective of the
product in the right place at the right time for the right
revenue cycle
price
Control objective of the Each organization defines their own control
revenue cycle objectives
Examples of control All valid sales are recorded and none omitted
objectives for the revenue Sales are authorized according to company policy
cycle Recorded sales are valid and documented
1/22
,8/8/25, 8:22 PM ACCTMIS 3600 Exam 2
1. Sales order entry
2. Shipping
3. Billing
Level 0 functions of the
4. Cash collection
revenue cycle
1&2: Providing goods and/or services
3&4: Collecting cash payments
Usually performed by the sales order department and
processes include:
1. Take customer's order
Sales order entry (1.0) 2. Check customer's credit
3. Check inventory availability
4. Respond to customer inquiries (may be done by
customer service or sales order entry)
Why do we have sales To reduce human error and allow the customers to
order entry? enter data themselves
Two main tables for sales Sales order header and sales order item
order information
Refers to a specific customer - tied to customer
Sales order header
master
Sales order item Refers to product or item master table
When should credit sales Before the order is processed further than sales order
be approved? entry
2 types of authorization in 1. General Authorization
sales order entry (1.2) 2. Specific Authorization
Customer is in good standing and automatically
General Authorization
approved
For new members, customers with remaining
Specific Authorization balances, or those whose purchase exceeds their
credit limit; requires additional approval
What do you do after Check if there is sufficient inventory to fill order and
credit is approved? (1.3) tell customer shipping time
2/22
, 8/8/25, 8:22 PM ACCTMIS 3600 Exam 2
1. Complete sales order
2. Update new quantity in inventory
If inventory is available
3. Issue a picking ticket
4. Notify shipping, billing, inventory and customer
Document that lists item and quantity of inventory
Picking ticket
needed to be picked in the warehouse
1. Initiate back order
If there is not inventory
2. Notify production or purchasing that more
available
inventory is needed
All customer questions should be answered before
Responding to any
and after order - quality of customer service can be
customer questions (1.4)
critical to company's success
Automating customer service; no human involvement,
Website ordering
customer enters all their own information
Automating customer service; Customers order from
Kiosks
app/device - think McDonald's
Choice boards and Automating customer service; Sales order entry (SOE)
configuration websites system that allows customers to customize their order
Electronic data Automating customer service; links company to
interchange (EDI) customer for direct shipping
Automating customer service; automatically issues
ERP Systems
sales orders and transmits this to company
Automating customer service; Company has visibility
Vender managed
of customer inventory levels and creates orders as
inventory (VMI)
needed - think suppliers of grocery stores
Automating customer service; Merchandise shipped
Scan-based trading (SBT)
based on scanned sales data provided by customer
Automating customer service; Outsourcing sales
Outsourced order entry
order entry to Amazon
3/22
