Question 1

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

Accepted Answer

A)  which credit cards to accept 
B)  which employees to hire 
C)  which public accounting firm to employ 
D)  how much capital to acquire 
A)  which credit cards to accept 
B)  which employees to hire 
C)  which public accounting firm to employ 
D)  how much capital to acquire A

Question 2

Who of the following is not a stakeholder with whom an accounting information system typically communicates directly?

Accepted Answer

A)  Wall Street industry analyst 
B)  venture capitalist 
C)  company that supplies raw materials 
D)  company that purchases finished goods for resale to consumers 
A)  Wall Street industry analyst 
B)  venture capitalist 
C)  company that supplies raw materials 
D)  company that purchases finished goods for resale to consumers A

Question 3

Define the concept of a system.

Accepted Answer

A system is a set of two or more components that are somehow interrelated and interact together to achieve a specific goal.

Question 4

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 5

Clemente Santiago has formed a business that sells carved gourmet coconuts.He has hired five employees.The most senior is Friday,who manages the carving process.Monday is the newest employee.She collects the coconuts.Tuesday takes calls from unhappy customers.Wednesday tosses finished coconuts into the sea,sending them to the wholesaler.Thursday sends smoke signals 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 Friday 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

Clemente Santiago has formed a business that sells carved gourmet coconuts.He has hired five employees.The most senior is Friday,who manages the carving process.Monday is the newest employee.She collects the coconuts.Tuesday takes calls from unhappy customers.Wednesday tosses finished coconuts into the sea,sending them to the wholesaler.Thursday sends smoke signals 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 Thursday 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 7

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 8

Identify the components of an accounting information system.

Accepted Answer

A well-designed AIS consists o

Question 9

How can an AIS add value to the organization?

Accepted Answer

An AIS can increase the efficiency and e

Question 10

In which transaction cycle would information for hiring employees be most likely to pass between internal and external accounting information systems?

Accepted Answer

A)  the revenue cycle 
B)  the expenditure cycle 
C)  the human resources / payroll cycle 
D)  the financing cycle 
A)  the revenue cycle 
B)  the expenditure cycle 
C)  the human resources / payroll cycle 
D)  the financing cycle

Question 11

Arranging delivery of products to customers constitutes ________ in value chain analysis.

Accepted Answer

A)  shipping 
B)  inbound logistics 
C)  outbound logistics 
D)  delivery 
A)  shipping 
B)  inbound logistics 
C)  outbound logistics 
D)  delivery

Question 12

Transaction cycles can be summarized on a high level as "give-get" transactions.An example of "give-get" in the revenue cycle would be

Accepted Answer

A)  give cash, get goods. 
B)  give goods, get cash. 
C)  give cash, get labor. 
D)  give cash, get cash. 
A)  give cash, get goods. 
B)  give goods, get cash. 
C)  give cash, get labor. 
D)  give cash, get cash.

Question 13

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

Accepted Answer

A)  centralization and defined procedures. 
B)  centralization and autonomy. 
C)  decentralization and defined procedures. 
D)  decentralization and autonomy. 
A)  centralization and defined procedures. 
B)  centralization and autonomy. 
C)  decentralization and defined procedures. 
D)  decentralization and autonomy.

Question 14

The American Institute of Certified Public Accountants (AICPA)has recognized the importance of AIS and the major impact information technology has on the area of accounting.To recognize individual CPAs who have met educational and experiential requirements in this area,the group formally created the designation known as

Accepted Answer

A)  the Certified Information Auditor. 
B)  the Certified Internal Auditor. 
C)  the Certified Information Technology Professional. 
D)  the Certified Data Processing Professional. 
A)  the Certified Information Auditor. 
B)  the Certified Internal Auditor. 
C)  the Certified Information Technology Professional. 
D)  the Certified Data Processing Professional.

Question 15

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 16

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 17

Data must be converted into information to be considered useful and meaningful for decision making.There are six 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

Accepted Answer

A)  relevancy. 
B)  timeliness. 
C)  understandability. 
D)  reliability. 
A)  relevancy. 
B)  timeliness. 
C)  understandability. 
D)  reliability.

Question 18

Define an accounting information system.

Accepted Answer

An AIS is a system that collec

Question 19

Which of the following is a primary activity in the value chain?

Accepted Answer

A)  infrastructure 
B)  technology 
C)  purchasing 
D)  marketing and sales 
A)  infrastructure 
B)  technology 
C)  purchasing 
D)  marketing and sales

Question 20

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

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

Who of the following is not a stakeholder with whom an accounting information system typically communicates directly?

Define the concept of a system.

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

An AIS provides value by

Identify the components of an accounting information system.

How can an AIS add value to the organization?

In which transaction cycle would information for hiring employees be most likely to pass between internal and external accounting information systems?

Arranging delivery of products to customers constitutes ________ in value chain analysis.

Transaction cycles can be summarized on a high level as "give-get" transactions.An example of "give-get" in the revenue cycle would be

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

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

Identify the false statement below.

Define an accounting information system.

Which of the following is a primary activity in the value chain?

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

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: Accounting Information Systems: an Overview

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

Who of the following is not a stakeholder with whom an accounting information system typically communicates directly?

Define the concept of a system.

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

An AIS provides value by

Identify the components of an accounting information system.

How can an AIS add value to the organization?

In which transaction cycle would information for hiring employees be most likely to pass between internal and external accounting information systems?

Arranging delivery of products to customers constitutes ________ in value chain analysis.

Transaction cycles can be summarized on a high level as "give-get" transactions.An example of "give-get" in the revenue cycle would be

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

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

Identify the false statement below.

Define an accounting information system.

Which of the following is a primary activity in the value chain?

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

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