Which of the following is a primary activity in the value chain?

Instructions: This quiz consists of 20 multiple choice questions and covers the material in Chapters 1 through 3 and 5. There are five questions from each chapter. The questions are in chapter order

 

Question 1

4 out of 4 points

Which of the following is a primary activity in the value chain?

A) infrastructure
B) technology
C) purchasing
D) marketing and sales

Question 2

4 out of 4 points

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 cycle
B) the payroll cycle
C) the production cycle
D) the financing cycle  ·

Question 3

4 out of 4 points

Paying federal payroll taxes is part of which transaction cycle?

A) Human resources/payroll
B) Expenditure
C) Financing
D) Revenue

Question 4

4 out of 4 points

The value chain concept is composed of two types of activities known as

A) primary and support.
B) primary and secondary.
C) support and value.
D) technology and support.

Question 5

4 out of 4 points

Groups of related business activities such as the acquisition of merchandise and payment of vendors are called

A) transaction cycles.
B) economic cycles.
C) business events.
D) transactions.

Question 6

4 out of 4 points

Which of the following is an example of source data automation?

A) a utility bill
B) POS (point-of-sale) scanners in retail stores
C) a bill of lading
D) a subsidiary ledger

Question 7

4 out of 4 points

A specialized journal would be most likely to be used to enter

A) sales transactions.
B) monthly depreciation adjustments.
C) annual closing entries.
D) stock issuance transactions.

Question 8

4 out of 4 points

Hector Sanchez works in the accounting department of a multinational manufacturing company. His job includes updating accounts payable based on purchase orders and checks. His responsibilities are part of the company’s

A) revenue cycle.
B) expenditure cycle.
C) financing cycle.
D) production cycle.

Question 9

4 out of 4 points

The issuing of a purchase order is part of which transaction cycle?

A) the revenue cycle
B) the production cycle
C) the human resources cycle
D) the expenditure cycle

Question 10

4 out of 4 points

In transaction processing, generally which activity comes first?

A) recording data in a journal
B) posting items to special journals
C) capturing data on source documents
D) recording data in a general ledger

Question 11