Exam 1: Conceptual Foundations of Accounting Information Systems

One activity within the value chain is research and development.This activity can be identified as a

What is a key decision that needs to be made with regards to paying vendors for goods and services?

Baggins Incorporated identifies new product development and product improvement as the top corporate goals.An employee developed an innovation that will correct a shortcoming in one of the company's products.Although Baggins current Return on Investment (ROI)is 10%,the product innovation is expected to generate ROI of 15%.As a result,awarding bonuses to employees based on ROI resulted in

An AIS that makes information more easily accessible and more widely available is likely to increase pressure for

Identify the party below that is not external to the firm.

Define an accounting information system.

An accounting information system must be able to perform which of the following tasks?

________ information reduces uncertainty,improves decision makers' ability to make predictions,or confirms expectations.

Groups of related business activities such as the acquisition of merchandise and payment of vendors are called

The transaction cycle approach yields efficiencies when processing of a large number of transactions because

How can an AIS add value to the organization?

Data must be converted into information to be considered useful and meaningful for decision making.There are seven characteristics that make information both useful and meaningful.If the information is free from error or bias,it is representative of the characteristic of

When properly deployed,accounting information systems can provide firms with a competitive advantage.

Differentiate between an AIS course and other accounting courses.

Data must be converted into information to be considered useful and meaningful for decision making.There are seven characteristics that make information both useful and meaningful.If information is free from error or bias and accurately represents the events or activities of the organization,it is representative of the characteristic of

An accounting information system (AIS)processes ________ to provide users with ________.

Paid time-off policies,job descriptions,and procedures manuals are examples of information needed to support key decisions in what business process?

Clemente Santiago has formed a business that sells carved gourmet coconuts.He has hired five employees.The most senior is Mary,who manages the carving process.Jane is the newest employee.She collects the coconuts.Joe takes calls from unhappy customers.Tom tosses finished coconuts into the sea,sending them to the wholesaler.Annie sends letters to the wholesaler extolling the virtues of the latest production run of nuts that are drifting across the bay. Which of the following functions in the value chain is Mary performing?

Who of the following would not be involved in the expenditure cycle?

The value chain concept is composed of two types of activities known as