Question 1

Which of the following is an objective of accounts payable processing?

Accepted Answer

A) Collecting information for the financial statements 
B) Making timely and accurate vendor payments 
C) Forecasting cash requirements 
D) Tracking bills of lading 
A) Collecting information for the financial statements 
B) Making timely and accurate vendor payments 
C) Forecasting cash requirements 
D) Tracking bills of lading

Question 2

Information overload:

Accepted Answer

A) Refers to a problem that can result when an AIS produces too many reports 
B) Refers to the situation that occurs when a company's database is too large 
C) Almost always results when an AIS is computerized 
D) Cannot be avoided in the Information Age 
A) Refers to a problem that can result when an AIS produces too many reports 
B) Refers to the situation that occurs when a company's database is too large 
C) Almost always results when an AIS is computerized 
D) Cannot be avoided in the Information Age

Question 3

Forecasting cash flows:

Accepted Answer

A) Is never considered an objective of transaction processing 
B) Is only possible in computerized AISs 
C) Is considered as a risky activity with which accountants should not be associated 
A) Is never considered an objective of transaction processing 
B) Is only possible in computerized AISs 
C) Is considered as a risky activity with which accountants should not be associated

Question 4

An important input to the sales process is:

Accepted Answer

A) A customer sales order 
B) The cash forecast 
C) Aged accounts receivable information 
D) A receiving report 
A) A customer sales order 
B) The cash forecast 
C) Aged accounts receivable information 
D) A receiving report

Question 5

Subsidiary ledgers are frequently maintained for accounts receivable and inventory accounts.

Accepted Answer

A) True 
 B)False

Question 6

The AIS should bill customers for goods at the time they are ordered.

Accepted Answer

A) True 
 B)False

Question 7

Networked enterprises and globalization have enabled a new business model called "business-without-boundaries." Which of the following statements describes this business model?

Accepted Answer

A) Companies no longer have all of their employees in one location 
B) It is called offshoring and companies contract with firms in other countries to do such business processes as human resources, payroll, and accounting 
C) Companies are under a great deal of scrutiny to manage costs and generate revenue so they contract with foreign firms to do various business processes at a lower cost to the company 
D) all of the above statements describe this model 
A) Companies no longer have all of their employees in one location 
B) It is called offshoring and companies contract with firms in other countries to do such business processes as human resources, payroll, and accounting 
C) Companies are under a great deal of scrutiny to manage costs and generate revenue so they contract with foreign firms to do various business processes at a lower cost to the company 
D) all of the above statements describe this model

Question 8

Which of the following statements best describes a business process?

Accepted Answer

A) It is a collection of related business activities in an organization that creates value 
B) The nature and type of processes might vary from industry to industry 
C) It is an activity that increases and/or decreases dollar amounts on the financial statements 
D) It is an economic event in the life of an organization 
A) It is a collection of related business activities in an organization that creates value 
B) The nature and type of processes might vary from industry to industry 
C) It is an activity that increases and/or decreases dollar amounts on the financial statements 
D) It is an economic event in the life of an organization

Question 9

All of the following are inputs (source documents)to the sales process except:

Accepted Answer

A) Sales order 
B) Shipping notice 
C) Remittance advice 
D) all of the above are source documents to the sales process 
A) Sales order 
B) Shipping notice 
C) Remittance advice 
D) all of the above are source documents to the sales process

Question 10

To forecast cash receipts, information must be collected from:

Accepted Answer

A) The purchasing process 
B) Payroll processing 
C) Inventory control systems 
D) The sales process 
A) The purchasing process 
B) Payroll processing 
C) Inventory control systems 
D) The sales process

Question 11

The purchasing process is always complete when goods are received from vendors.

Accepted Answer

A) True 
 B)False

Question 12

A general ledger:

Accepted Answer

A) Is a collection of an organization's monetary transactions, organized by account 
B) Does not include every account in an organization's chart of accounts 
C) Is the same thing as a transaction listing 
A) Is a collection of an organization's monetary transactions, organized by account 
B) Does not include every account in an organization's chart of accounts 
C) Is the same thing as a transaction listing

Question 13

A ledger is a chronological record of business events that impact the accounting equation.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is not a primary objective of coding systems today?

Accepted Answer

A) To compress data 
B) To uniquely identify objects 
C) To convey special meanings that are not apparent to the public-at-large 
D) To use numbers instead of alphabetic characters in order to save on computer data storage costs 
A) To compress data 
B) To uniquely identify objects 
C) To convey special meanings that are not apparent to the public-at-large 
D) To use numbers instead of alphabetic characters in order to save on computer data storage costs

Question 15

Group codes are often used as product codes in a business.

Accepted Answer

A) True 
 B)False

Question 16

Performance reports are:

Accepted Answer

A) Reports that show any exception conditions in an organization 
B) Adjusted trial balance 
C) Transaction listings 
A) Reports that show any exception conditions in an organization 
B) Adjusted trial balance 
C) Transaction listings

Question 17

The sales process begins with placing an order with a vendor.

Accepted Answer

A) True 
 B)False

Question 18

The financial accounting cycle ends with:

Accepted Answer

A) Closing journal entries and a post-closing trial balance 
B) The production of an adjusted trial balance 
C) Development of cash forecasts 
A) Closing journal entries and a post-closing trial balance 
B) The production of an adjusted trial balance 
C) Development of cash forecasts

Question 19

Well-designed output reports are characterized by all but which of the following?

Accepted Answer

A) They are conveniently formatted 
B) They never include graphs 
C) They are easily identifiable 
A) They are conveniently formatted 
B) They never include graphs 
C) They are easily identifiable

Question 20

Codes are seldom used in an AIS because they use excess space.

Accepted Answer

A) True 
 B)False

Which of the following is an objective of accounts payable processing?

Information overload:

Forecasting cash flows:

An important input to the sales process is:

Subsidiary ledgers are frequently maintained for accounts receivable and inventory accounts.

The AIS should bill customers for goods at the time they are ordered.

Networked enterprises and globalization have enabled a new business model called "business-without-boundaries." Which of the following statements describes this business model?

Which of the following statements best describes a business process?

All of the following are inputs (source documents)to the sales process except:

To forecast cash receipts, information must be collected from:

The purchasing process is always complete when goods are received from vendors.

A general ledger:

A ledger is a chronological record of business events that impact the accounting equation.

Which of the following is not a primary objective of coding systems today?

Group codes are often used as product codes in a business.

Performance reports are:

The sales process begins with placing an order with a vendor.

The financial accounting cycle ends with:

Well-designed output reports are characterized by all but which of the following?

Codes are seldom used in an AIS because they use excess space.

Accounting Information Systems and the Accountant

Accounting on the Internet

Information Technology and Aiss

Accounting and Data Analytics

Integrated Accounting and Enterprise Software

Introduction to Internal Control Systems and Risk Management

Computer Controls for Organizations and Accounting Information Systems

Accounting Information Systems and Business Processes: Part II

Cybercrime, Fraud, and Ethics

Information Technology Auditing

Documenting Accounting Information Systems

Developing and Implementing Effective Accounting Information Systems

Database Design

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Filters

Exam 8: Accounting Information Systems and Business Processes: Part I

Which of the following is an objective of accounts payable processing?

Information overload:

Forecasting cash flows:

An important input to the sales process is:

Subsidiary ledgers are frequently maintained for accounts receivable and inventory accounts.

The AIS should bill customers for goods at the time they are ordered.

Networked enterprises and globalization have enabled a new business model called "business-without-boundaries." Which of the following statements describes this business model?

Which of the following statements best describes a business process?

All of the following are inputs (source documents)to the sales process except:

To forecast cash receipts, information must be collected from:

The purchasing process is always complete when goods are received from vendors.

A general ledger:

A ledger is a chronological record of business events that impact the accounting equation.

Which of the following is not a primary objective of coding systems today?

Group codes are often used as product codes in a business.

Performance reports are:

The sales process begins with placing an order with a vendor.

The financial accounting cycle ends with:

Well-designed output reports are characterized by all but which of the following?

Codes are seldom used in an AIS because they use excess space.

Accounting Information Systems and the Accountant

Accounting on the Internet

Information Technology and Aiss

Accounting and Data Analytics

Integrated Accounting and Enterprise Software

Introduction to Internal Control Systems and Risk Management

Computer Controls for Organizations and Accounting Information Systems

Accounting Information Systems and Business Processes: Part II

Cybercrime, Fraud, and Ethics

Information Technology Auditing

Documenting Accounting Information Systems

Developing and Implementing Effective Accounting Information Systems

Database Design

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Filters