Question 1

FINTRAC stands for Financial Transactions and Report Analysis Centre of Canada.

Accepted Answer

A) True 
 B)False

Question 2

There are limited career opportunities available for students who study both accounting and information systems.

Accepted Answer

A) True 
 B)False

Question 3

The Sarbanes-Oxley Act prohibits companies from using the same auditing firms for performing both auditing and management consulting services.

Accepted Answer

A) True 
 B)False

Question 4

The accounting subsystem must continually interact with the:

Accepted Answer

A) Personnel subsystem 
B) Information processing subsystem 
C) Production subsystem 
D) b and c only 
E) a, b, and c 
A) Personnel subsystem 
B) Information processing subsystem 
C) Production subsystem 
D) b and c only 
E) a, b, and c

Question 5

Many accountants feel that the most important part of the Sarbanes-Oxley Act is:

Accepted Answer

A) Its anti-terrorist provisions 
B) Its provisions requiring the reporting of suspicious activities 
C) Section 404 on internal controls 
D) Section 505 on money laundering 
A) Its anti-terrorist provisions 
B) Its provisions requiring the reporting of suspicious activities 
C) Section 404 on internal controls 
D) Section 505 on money laundering

Question 6

The term information overload refers to providing too much data to management, often resulting in managers ignoring it.

Accepted Answer

A) True 
 B)False

Question 7

A major output of financial accounting is the preparation of financial statements such as an income statement.

Accepted Answer

A) True 
 B)False

Question 8

Activity-based costing systems focus on allocating overhead on the basis of direct labour hours used.

Accepted Answer

A) True 
 B)False

Question 9

As used in chapter 1, the term "dashboard" refers to a quick and easy plan to install a computerized accounting system in an organization.

Accepted Answer

A) True 
 B)False

Question 10

As used in the chapter, "knowledge workers":

Accepted Answer

A) Are blue collar workers in non-managerial positions 
B) Are the same as delivery clerks 
C) Include most accountants 
D) Does not include most accountants 
A) Are blue collar workers in non-managerial positions 
B) Are the same as delivery clerks 
C) Include most accountants 
D) Does not include most accountants

Question 11

The path that data follow in an AIS, for example from manual source document to completed output report, is called an audit trail.

Accepted Answer

A) True 
 B)False

Question 12

It is best to view an AIS as an accounting system that must be computerized.

Accepted Answer

A) True 
 B)False

Question 13

Suspicious activity reporting:

Accepted Answer

A) Only applies to banking transactions 
B) Is mandated by state, but not federal, regulations 
C) Is mostly concerned with embezzlement issues 
D) Is a requirement under the Sarbanes-Oxley Law of 2002 and CICA Rule 204 
E) none of these 
A) Only applies to banking transactions 
B) Is mandated by state, but not federal, regulations 
C) Is mostly concerned with embezzlement issues 
D) Is a requirement under the Sarbanes-Oxley Law of 2002 and CICA Rule 204 
E) none of these

Question 14

Within the traditional AIS, a sales order would not be considered an accounting transaction.

Accepted Answer

A) True 
 B)False

Question 15

A good performance measurement system should evaluate:

Accepted Answer

A) Profitability only 
B) Customer satisfaction only 
C) Those aspects of a unit's performance that are subject to its control 
D) Those aspects of a unit's performance whether controllable or not 
A) Profitability only 
B) Customer satisfaction only 
C) Those aspects of a unit's performance that are subject to its control 
D) Those aspects of a unit's performance whether controllable or not

Question 16

In order to be useful, raw accounting data must be processed by a computer.

Accepted Answer

A) True 
 B)False

Question 17

One of the motivations for SAR is to identify money laundering activities.

Accepted Answer

A) True 
 B)False

Question 18

Today's AIS is an enterprise-wide information system that focuses on interdepartmental business processes.

Accepted Answer

A) True 
 B)False

Question 19

Accounting information systems must be computerized to be effective.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following accounting functions has been automated by most companies' information processing subsystems?

Accepted Answer

A) Posting to ledgers 
B) Recording journal entries 
C) Preparing trial balances 
D) all of the above 
A) Posting to ledgers 
B) Recording journal entries 
C) Preparing trial balances 
D) all of the above

FINTRAC stands for Financial Transactions and Report Analysis Centre of Canada.

There are limited career opportunities available for students who study both accounting and information systems.

The Sarbanes-Oxley Act prohibits companies from using the same auditing firms for performing both auditing and management consulting services.

The accounting subsystem must continually interact with the:

Many accountants feel that the most important part of the Sarbanes-Oxley Act is:

The term information overload refers to providing too much data to management, often resulting in managers ignoring it.

A major output of financial accounting is the preparation of financial statements such as an income statement.

Activity-based costing systems focus on allocating overhead on the basis of direct labour hours used.

As used in chapter 1, the term "dashboard" refers to a quick and easy plan to install a computerized accounting system in an organization.

As used in the chapter, "knowledge workers":

The path that data follow in an AIS, for example from manual source document to completed output report, is called an audit trail.

It is best to view an AIS as an accounting system that must be computerized.

Suspicious activity reporting:

Within the traditional AIS, a sales order would not be considered an accounting transaction.

A good performance measurement system should evaluate:

In order to be useful, raw accounting data must be processed by a computer.

One of the motivations for SAR is to identify money laundering activities.

Today's AIS is an enterprise-wide information system that focuses on interdepartmental business processes.

Accounting information systems must be computerized to be effective.

Which of the following accounting functions has been automated by most companies' information processing subsystems?

Information Technology and Aiss

Data Modeling

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Documenting Accounting Information Systems

Accounting Information Systems and Business Processes: Part I

Accounting Information Systems and Business Processes: Part II

Introduction to Internal Control Systems

Computer Controls for Organizations and Accounting Information Systems

Computer Crime, Fraud, Ethics, and Privacy

Information Technology Auditing

Developing and Implementing Effective Accounting Information Systems

Accounting on the Internet

Accounting and Enterprise Software

Filters

Exam 1: Accounting Information Systems and the Accountant

FINTRAC stands for Financial Transactions and Report Analysis Centre of Canada.

There are limited career opportunities available for students who study both accounting and information systems.

The Sarbanes-Oxley Act prohibits companies from using the same auditing firms for performing both auditing and management consulting services.

The accounting subsystem must continually interact with the:

Many accountants feel that the most important part of the Sarbanes-Oxley Act is:

The term information overload refers to providing too much data to management, often resulting in managers ignoring it.

A major output of financial accounting is the preparation of financial statements such as an income statement.

Activity-based costing systems focus on allocating overhead on the basis of direct labour hours used.

As used in chapter 1, the term "dashboard" refers to a quick and easy plan to install a computerized accounting system in an organization.

As used in the chapter, "knowledge workers":

The path that data follow in an AIS, for example from manual source document to completed output report, is called an audit trail.

It is best to view an AIS as an accounting system that must be computerized.

Suspicious activity reporting:

Within the traditional AIS, a sales order would not be considered an accounting transaction.

A good performance measurement system should evaluate:

In order to be useful, raw accounting data must be processed by a computer.

One of the motivations for SAR is to identify money laundering activities.

Today's AIS is an enterprise-wide information system that focuses on interdepartmental business processes.

Accounting information systems must be computerized to be effective.

Which of the following accounting functions has been automated by most companies' information processing subsystems?

Information Technology and Aiss

Data Modeling

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Documenting Accounting Information Systems

Accounting Information Systems and Business Processes: Part I

Accounting Information Systems and Business Processes: Part II

Introduction to Internal Control Systems

Computer Controls for Organizations and Accounting Information Systems

Computer Crime, Fraud, Ethics, and Privacy

Information Technology Auditing

Developing and Implementing Effective Accounting Information Systems

Accounting on the Internet

Accounting and Enterprise Software

Filters