Question 1

The letter "P" in the acronym "ERP" stands for:

Accepted Answer

A) Production 
B) Planning 
C) Project 
D) none of these 
A) Production 
B) Planning 
C) Project 
D) none of these

Question 2

Managerial accounting principally provides information to:

Accepted Answer

A) Stockholders 
B) Government regulators e.g., Ontario Securities Commission, CR
A)  
C) Internal company management 
D) Potential creditors 
A) Stockholders 
B) Government regulators e.g., Ontario Securities Commission, CR
A)  
C) Internal company management 
D) Potential creditors

Question 3

What is the first step to be performed by most organizations in their accounting cycles?

Accepted Answer

A) Recording business transactions in a journal 
B) Preparing a trial balance 
C) Recording closing entries in a journal 
D) Preparing transaction source documents 
E) none of the above 
A) Recording business transactions in a journal 
B) Preparing a trial balance 
C) Recording closing entries in a journal 
D) Preparing transaction source documents 
E) none of the above

Question 4

The series of steps leading from data recorded in transaction records to the information reported on financial statements is called the accounting cycle.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is not a component of the balanced scorecard?

Accepted Answer

A) Customer knowledge 
B) Internal business processes 
C) Transaction processing 
D) Financial performance 
A) Customer knowledge 
B) Internal business processes 
C) Transaction processing 
D) Financial performance

Question 6

In a responsibility accounting system, every person within a company takes responsibility for the performance of every business unit.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is true?

Accepted Answer

A) An AIS must be computerized to be useful 
B) An AIS always produces useful information 
C) An AIS always produces financial information 
D) none of these 
A) An AIS must be computerized to be useful 
B) An AIS always produces useful information 
C) An AIS always produces financial information 
D) none of these

Question 8

"Cost accounting" tasks are usually performed by financial accountants.

Accepted Answer

A) True 
 B)False

Question 9

All of the following are possible uses of AIS or accounting personnel that were discussed in the chapter except:

Accepted Answer

A) Countering terrorism 
B) Foiling future accounting scandals 
C) Providing assurance services 
D) Performing monetary exchanges 
A) Countering terrorism 
B) Foiling future accounting scandals 
C) Providing assurance services 
D) Performing monetary exchanges

Question 10

If a manager suffers "information overload":

Accepted Answer

A) He or she must press the reset button on his or her computer 
B) It means that this person needs a larger hard drive 
C) The "information" is really just data 
D) He or she must forget some facts in order to remember others 
A) He or she must press the reset button on his or her computer 
B) It means that this person needs a larger hard drive 
C) The "information" is really just data 
D) He or she must forget some facts in order to remember others

Question 11

The purpose of CICA Webtrust Services is to provide assurance that a company engaged in electronic commerce can provide the goods or services it promises.

Accepted Answer

A) True 
 B)False

Question 12

One possible career for AIS majors is in the traditional area of financial or managerial accounting.

Accepted Answer

A) True 
 B)False

Question 13

For performance reports to achieve their control objectives, they must:

Accepted Answer

A) Include relevant information so that necessary action may be taken to accomplish organizational goals 
B) Be timely so that minimal time elapses between an activity's occurrence and the feedback reflecting the activity's efficient or inefficient performance 
C) Provide subsystem managers with suggestions as to how they can operate their subsystems more efficiently 
D) all of the above 
E) a and b only 
A) Include relevant information so that necessary action may be taken to accomplish organizational goals 
B) Be timely so that minimal time elapses between an activity's occurrence and the feedback reflecting the activity's efficient or inefficient performance 
C) Provide subsystem managers with suggestions as to how they can operate their subsystems more efficiently 
D) all of the above 
E) a and b only

Question 14

Computers tend to make audit trails easier to follow because everything is computerized.

Accepted Answer

A) True 
 B)False

Question 15

Managerial accounting principally provides decision?making information to a company's internal managers.

Accepted Answer

A) True 
 B)False

The letter "P" in the acronym "ERP" stands for:

Managerial accounting principally provides information to:

What is the first step to be performed by most organizations in their accounting cycles?

The series of steps leading from data recorded in transaction records to the information reported on financial statements is called the accounting cycle.

Which of the following is not a component of the balanced scorecard?

In a responsibility accounting system, every person within a company takes responsibility for the performance of every business unit.

Which of the following is true?

"Cost accounting" tasks are usually performed by financial accountants.

All of the following are possible uses of AIS or accounting personnel that were discussed in the chapter except:

If a manager suffers "information overload":

The purpose of CICA Webtrust Services is to provide assurance that a company engaged in electronic commerce can provide the goods or services it promises.

One possible career for AIS majors is in the traditional area of financial or managerial accounting.

For performance reports to achieve their control objectives, they must:

Computers tend to make audit trails easier to follow because everything is computerized.

Managerial accounting principally provides decision?making information to a company's internal managers.

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

The letter "P" in the acronym "ERP" stands for:

Managerial accounting principally provides information to:

What is the first step to be performed by most organizations in their accounting cycles?

The series of steps leading from data recorded in transaction records to the information reported on financial statements is called the accounting cycle.

Which of the following is not a component of the balanced scorecard?

In a responsibility accounting system, every person within a company takes responsibility for the performance of every business unit.

Which of the following is true?

"Cost accounting" tasks are usually performed by financial accountants.

All of the following are possible uses of AIS or accounting personnel that were discussed in the chapter except:

If a manager suffers "information overload":

The purpose of CICA Webtrust Services is to provide assurance that a company engaged in electronic commerce can provide the goods or services it promises.

One possible career for AIS majors is in the traditional area of financial or managerial accounting.

For performance reports to achieve their control objectives, they must:

Computers tend to make audit trails easier to follow because everything is computerized.

Managerial accounting principally provides decision?making information to a company's internal managers.

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