Question 1

Which of the following is not one of the components of an AIS?

Accepted Answer

A) internal controls and security measures 
B) people 
C) procedures and instructions 
D) hardware 
A) internal controls and security measures 
B) people 
C) procedures and instructions 
D) hardware

Question 2

Wisconsin Dells,Wisconsin,is a popular tourist destination.During the winter months,the population dwindles to a meager few,but when summer comes,the size of the town surges.Hunter Jackson is the town sanitation engineer.When the size of the town surges,so do his responsibilities.Among them is management of the sewage processing volume.
In an interview with the local paper,Hunter complained that a report on tourist population that he uses to adjust processing volume refers to data that was collected four days ago and it takes him a week to make adjustments.
Which of the following characteristics of useful information is absent in the situation described above?

Accepted Answer

A) relevant 
B) reliable 
C) complete 
D) timely 
E) understandable
F) verifiable
G) accessible 
A) relevant 
B) reliable 
C) complete 
D) timely 
E) understandable
F) verifiable
G) accessible

Question 3

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 same information can be reproduced by two independent and knowledgeable people,it is representative of the characteristic of

Accepted Answer

A) reliability. 
B) relevance. 
C) verifiability. 
D) truthful. 
A) reliability. 
B) relevance. 
C) verifiability. 
D) truthful.

Question 4

Identify a recent technological advance that provides an opportunity to gain a competitive advantage.

Accepted Answer

A) CVVP analysis 
B) discounted cash flows 
C) predictive analysis 
D) economic order quantity (EOQ) 
A) CVVP analysis 
B) discounted cash flows 
C) predictive analysis 
D) economic order quantity (EOQ)

Question 5

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 Joe performing?

Accepted Answer

A) Inbound logistics 
B) Operations 
C) Outbound logistics 
D) Marketing and sales 
E) Service 
A) Inbound logistics 
B) Operations 
C) Outbound logistics 
D) Marketing and sales 
E) Service

Question 6

Identify the piece of information below that is typically needed to acquire a building.

Accepted Answer

A) job descriptions 
B) vendor performance 
C) market coverage 
D) capacity needs 
A) job descriptions 
B) vendor performance 
C) market coverage 
D) capacity needs

Question 7

Inventory information for Sun Corp.is provided in real time by a firm's accounting information system.However,the accuracy of this information is questionable.Many store managers often report stock outs of components that the system indicates are in stock.Which of the following characteristics of useful information is absent in the situation described above?

Accepted Answer

A) relevant 
B) reliable 
C) complete 
D) timely 
E) understandable 
A) relevant 
B) reliable 
C) complete 
D) timely 
E) understandable

Question 8

Receiving goods from vendors is part of which cycle?

Accepted Answer

A) the revenue cycle 
B) the financing cycle 
C) the expenditure cycle 
D) the payroll cycle 
A) the revenue cycle 
B) the financing cycle 
C) the expenditure cycle 
D) the payroll cycle

Question 9

Define the concept of a system.

Accepted Answer

A system is a set of two or mo

Question 10

How can a well-designed AIS improve the efficiency and effectiveness of a company's value chain?

Accepted Answer

The AIS can be designed to allow custome

Question 11

Corporate strategy should affect the way a firm deploys an accounting information system.

Accepted Answer

A) True 
 B)False

Question 12

A value chain typically consists of five primary activities that can directly provide value to customers.The activities that help distribute finished products or services to customers represent

Accepted Answer

A) inbound logistics. 
B) outbound logistics. 
C) marketing and sales. 
D) operations. 
A) inbound logistics. 
B) outbound logistics. 
C) marketing and sales. 
D) operations.

Question 13

An AIS provides value by

Accepted Answer

A) improving products or services through information that increases quality and reduces costs. 
B) providing timely and reliable information to decision makers. 
C) creating new products. 
D) both A and B 
A) improving products or services through information that increases quality and reduces costs. 
B) providing timely and reliable information to decision makers. 
C) creating new products. 
D) both A and B

Question 14

Explain what an AIS is,describe the basic tasks it performs in an organization,and give some examples of the types of accounting transactions it processes.

Accepted Answer

An AIS consists of six components: peopl

Question 15

Identify the false statement below.

Accepted Answer

A) Retail stores do not have a production cycle. 
B) Financial institutions have installment-loan cycles. 
C) Every organization should implement every transaction cycle module. 
D) A service company does not have an inventory system. 
A) Retail stores do not have a production cycle. 
B) Financial institutions have installment-loan cycles. 
C) Every organization should implement every transaction cycle module. 
D) A service company does not have an inventory system.

Question 16

Updating accounts receivable is part of which transaction cycle?

Accepted Answer

A) Human resources/payroll. 
B) Expenditure. 
C) Financing. 
D) Revenue. 
A) Human resources/payroll. 
B) Expenditure. 
C) Financing. 
D) Revenue.

Question 17

Identify the components of an accounting information system.

Accepted Answer

A well-designed AIS consists o

Question 18

What is a key decision that needs to be made with regards to selling merchandise?

Accepted Answer

A) which banking institution to use 
B) which employees to hire 
C) which public accounting firm to employ 
D) which credit cards to accept 
A) which banking institution to use 
B) which employees to hire 
C) which public accounting firm to employ 
D) which credit cards to accept

Question 19

The transaction cycle that includes product design is known as the

Accepted Answer

A) revenue cycle. 
B) expenditure cycle. 
C) production cycle. 
D) financing cycle. 
A) revenue cycle. 
B) expenditure cycle. 
C) production cycle. 
D) financing cycle.

Question 20

What is a key decision that needs to be made with regards to borrowing money from lenders?

Accepted Answer

A) the location 
B) pro forma income statement 
C) how much capital to acquire 
D) job descriptions 
A) the location 
B) pro forma income statement 
C) how much capital to acquire 
D) job descriptions

Which of the following is not one of the components of an AIS?

Identify a recent technological advance that provides an opportunity to gain a competitive advantage.

Identify the piece of information below that is typically needed to acquire a building.

Receiving goods from vendors is part of which cycle?

Define the concept of a system.

How can a well-designed AIS improve the efficiency and effectiveness of a company's value chain?

Corporate strategy should affect the way a firm deploys an accounting information system.

A value chain typically consists of five primary activities that can directly provide value to customers.The activities that help distribute finished products or services to customers represent

An AIS provides value by

Explain what an AIS is,describe the basic tasks it performs in an organization,and give some examples of the types of accounting transactions it processes.

Identify the false statement below.

Updating accounts receivable is part of which transaction cycle?

Identify the components of an accounting information system.

What is a key decision that needs to be made with regards to selling merchandise?

The transaction cycle that includes product design is known as the

What is a key decision that needs to be made with regards to borrowing money from lenders?

Overview of Transaction Processing and Enterprise Resource Planning Systems

Systems Documentation Techniques

Relational Databases

Computer Fraud

Computer Fraud and Abuse Techniques

Control and Accounting Information Systems

Controls for Information Security

Confidentiality and Privacy Controls

Processing Integrity and Availability Controls

Auditing Computer-Based Information Systems

The Revenue Cycle: Sales to Cash Collections

The Expenditure Cycle: Purchasing to Cash Disbursements

The Production Cycle

The Human Resources Management and Payroll Cycle

General Ledger and Reporting System

Database Design Using the Rea Data Model

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, implementation, and Operation

Filters

Exam 1: Conceptual Foundations of Accounting Information Systems

Which of the following is not one of the components of an AIS?

Identify a recent technological advance that provides an opportunity to gain a competitive advantage.

Identify the piece of information below that is typically needed to acquire a building.

Receiving goods from vendors is part of which cycle?

Define the concept of a system.

How can a well-designed AIS improve the efficiency and effectiveness of a company's value chain?

Corporate strategy should affect the way a firm deploys an accounting information system.

A value chain typically consists of five primary activities that can directly provide value to customers.The activities that help distribute finished products or services to customers represent

An AIS provides value by

Explain what an AIS is,describe the basic tasks it performs in an organization,and give some examples of the types of accounting transactions it processes.

Identify the false statement below.

Updating accounts receivable is part of which transaction cycle?

Identify the components of an accounting information system.

What is a key decision that needs to be made with regards to selling merchandise?

The transaction cycle that includes product design is known as the

What is a key decision that needs to be made with regards to borrowing money from lenders?

Overview of Transaction Processing and Enterprise Resource Planning Systems

Systems Documentation Techniques

Relational Databases

Computer Fraud

Computer Fraud and Abuse Techniques

Control and Accounting Information Systems

Controls for Information Security

Confidentiality and Privacy Controls

Processing Integrity and Availability Controls

Auditing Computer-Based Information Systems

The Revenue Cycle: Sales to Cash Collections

The Expenditure Cycle: Purchasing to Cash Disbursements

The Production Cycle

The Human Resources Management and Payroll Cycle

General Ledger and Reporting System

Database Design Using the Rea Data Model

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, implementation, and Operation

Filters