Exam 1: Accounting As Information

Which enhancing characteristic of useful information includes the ability for independent and knowledgeable individuals to reach the same conclusions from the same information?

A Pizza Hut franchise owner wants to categorize business events that occur. As assistant manager, the owner has asked you to list each category of business events and categorize the following events appropriately: Apply for a loan for the business Purchase business location Purchase ingredients Interview candidates for employment Hire and pay employees Take customer orders Make and bake pizzas Deliver pizzas Collect payment from customers

Which of the following is NOT an accurate statement about how an accountant can use data analytics?

During what processes does a business add value by converting the resources into goods and services that a customer might want to purchase?

Aiko joined the Hondo organization recently. Aiko's area of responsibility will be generating visual representations of data for Hondo. Currently, Hondo only has someone to create reports with numerical data presented in tables. What enhancing characteristic of data will be improved for Hondo with Aiko's data visualization skills?

After converting resources into products and/or services, the business generates revenue by

Which transaction would NOT be recorded in a transaction-based accounting information system?

Which transaction would be recorded in a transaction-based accounting information system?

Faithfully represented data includes the characteristics of

Which of the following is the most appropriate definition of data analytics?

Which of the following activities would NOT result in a transaction in an accounting information system?

In which of the following process categories would the product recycling rate be captured?

Walter, a staff accountant with knowledge of computer programming, works for an accounting firm that is in the process of improving how they use data from their information system. Walter is asked to write the code for the information system that will allow the firm to transform data into useful information. What kind of output will Walter be generating?

The accounting information system provides financial and other metrics that

While each of the skills in the statements below are used in data analytics, which is TRUE regarding what is expected of new accounting professionals?

Which statement is FALSE?

In what way is reporting different from data analytics?

Samantha's Soy Candles has built a retail location in a seasonally busy tourist town. Samantha has developed a scent of the month that she plans to market to customers as a once per month shipment. The shipment of these candles once per month could help Samantha during the slow months at her retail store. What kind of business model would Samantha employ for her new seasonal candle shipment business line?