Overview of Business Process Quiz

Which cycle involves the business activities of selling goods or services and collecting payments from customers?

• Revenue cycle
• Expenditure cycle
• Production cycle
• Human resource and payroll cycle

Which cycle involves the business activities of purchasing goods or services and making payments to vendors?

• Revenue cycle
• Expenditure cycle
• Production cycle
• Human resource and payroll cycle

Which cycle involves the business activities of converting raw materials into finished goods?

• Revenue cycle
• Expenditure cycle
• Production cycle
• Human resource and payroll cycle

Which cycle involves the business activities of obtaining funds from investors and creditors?

• Financing Cycle
• Expenditure cycle
• Production cycle
• Human resource and payroll cycle

Which cycle involves the business activities of recruiting, hiring, training, compensating, and evaluating employees?

• Financing Cycle
• Expenditure cycle
• Production cycle
• Human resource and payroll cycle

Which of the following is not a basic business activity of the revenue cycle?

• Sales Order Processing
• Credit authorization
• Receiving
• Billing

Which of the following business activities is part of the expenditure cycle?

• Hiring new wmployees
• Sending invoices to customers
• Paying vendors for goods
• Obtaining loan from a bank

Which stage of the data processing cycle involves collecting data from various sources?

• Input
• Processing
• Storage
• Output

Which stage of the data processing cycle involves transforming raw data into usable information?

• Input
• Processing
• Storage
• Output

Which of the following is an example of a control activity in the data processing cycle?

• Segregating duties between employees who input data and employees who process data
• Allowing employees to modify data without approval
• Failing to backup data on a regular basis
• Allowing employees to access confidential data without proper authorization