Question 1

Many modern accounting software packages offer separate transaction cycle modules.What is the reason for this?

Accepted Answer

A)  Every organization does not need to implement all of the available transaction cycle modules. 
B)  Most businesses do not need the revenue cycle module as part of their AIS. 
C)  The nature of a given transaction cycle is the same irrespective of the type of organization. 
D)  A properly designed AIS does not use the concept of separate business transaction cycles to process transactions. 
A)  Every organization does not need to implement all of the available transaction cycle modules. 
B)  Most businesses do not need the revenue cycle module as part of their AIS. 
C)  The nature of a given transaction cycle is the same irrespective of the type of organization. 
D)  A properly designed AIS does not use the concept of separate business transaction cycles to process transactions.

Question 2

A well-designed AIS can improve the decision making in an organization.Identify the statement below that describes a situation where an AIS may actually inhibit effective decision making.

Accepted Answer

A)  An AIS provides to its users an abundance of information without any filtering or condensing of such information. 
B)  An AIS identifies situations requiring management action. 
C)  An AIS reduces uncertainty, and therefore accounting information can provide a basis for choosing among alternative courses of action. 
D)  An AIS provides information about the results of previous decisions which provides decision makers with feedback that can be used in future decision making. 
A)  An AIS provides to its users an abundance of information without any filtering or condensing of such information. 
B)  An AIS identifies situations requiring management action. 
C)  An AIS reduces uncertainty, and therefore accounting information can provide a basis for choosing among alternative courses of action. 
D)  An AIS provides information about the results of previous decisions which provides decision makers with feedback that can be used in future decision making.

Question 3

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

Accepted Answer

A)  transaction cycles. 
B)  economic cycles. 
C)  business events. 
D)  transactions. 
A)  transaction cycles. 
B)  economic cycles. 
C)  business events. 
D)  transactions.

Question 4

Which of the following is not an example of how an AIS adds value to an organization?

Accepted Answer

A)  All employees at a hospital can access and update patient records from any computer terminal in the hospital. 
B)  A customer service representative can find a customer's account data, purchase history, payment history, and salesperson's name while on the phone with the customer, to resolve issues quickly. 
C)  Suppliers are able to access sales data directly from the point-of-sale system of a retailer and deliver inventory automatically when needed. 
D)  Client tax files are encrypted and made available on the CPA firm's network to any employee with an access code. 
A)  All employees at a hospital can access and update patient records from any computer terminal in the hospital. 
B)  A customer service representative can find a customer's account data, purchase history, payment history, and salesperson's name while on the phone with the customer, to resolve issues quickly. 
C)  Suppliers are able to access sales data directly from the point-of-sale system of a retailer and deliver inventory automatically when needed. 
D)  Client tax files are encrypted and made available on the CPA firm's network to any employee with an access code.

Question 5

The AIS must include controls to ensure

Accepted Answer

A)  safety and availability of data. 
B)  marketing initiatives match corporate goals. 
C)  information produced from data is accurate. 
D)  both A and C 
A)  safety and availability of data. 
B)  marketing initiatives match corporate goals. 
C)  information produced from data is accurate. 
D)  both A and C

Question 6

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

Accepted Answer

A)  collect transaction data 
B)  process transaction data 
C)  provide adequate controls 
D)  all of the above 
A)  collect transaction data 
B)  process transaction data 
C)  provide adequate controls 
D)  all of the above

Question 7

Identify the primary reason that it is important for a firm to identify the AIS improvements likely to yield the greatest return.

Accepted Answer

A)  because business strategy directly influences AIS, but not information technology 
B)  because most organizations have limited resources 
C)  because a firm never wants to waste time addressing issues that are not urgent 
D)  because it is expensive to improve accounting information systems 
A)  because business strategy directly influences AIS, but not information technology 
B)  because most organizations have limited resources 
C)  because a firm never wants to waste time addressing issues that are not urgent 
D)  because it is expensive to improve accounting information systems

Question 8

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 Monday 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 9

Discuss the concept of a system and the issues of goal conflict and goal congruence.

Accepted Answer

A system is a set of two or more compone

Question 10

Discuss the components of a supply chain.

Accepted Answer

The supply chain shows how an organizati

Question 11

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

Accepted Answer

A)  customer 
B)  management 
C)  employees 
D)  CEO 
A)  customer 
B)  management 
C)  employees 
D)  CEO

Question 12

In which transaction cycle would customer sales transaction information 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 13

How can an AIS become part of the firm's value chain and add value to the business?

Accepted Answer

The AIS can add value by: helping to imp

Question 14

Differentiate between an AIS course and other accounting courses.

Accepted Answer

Other accounting courses assume the prep

Question 15

In which transaction cycle would information for inventory purchases 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 16

The transaction cycle that includes the events of hiring employees and paying them is known as the

Accepted Answer

A)  revenue cycle. 
B)  expenditure cycle. 
C)  human resources cycle. 
D)  financing cycle. 
A)  revenue cycle. 
B)  expenditure cycle. 
C)  human resources cycle. 
D)  financing cycle.

Question 17

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 Tuesday 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 18

An accounting information system requires at least one computer.

Accepted Answer

A) True 
 B)False

Question 19

Accounting information plays major roles in managerial decision making by

Accepted Answer

A)  identifying situations requiring management action. 
B)  reducing uncertainty. 
C)  providing a basis for choosing among alternative actions. 
D)  all of the above 
A)  identifying situations requiring management action. 
B)  reducing uncertainty. 
C)  providing a basis for choosing among alternative actions. 
D)  all of the above

Question 20

In which transaction cycle would information for paying interest 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

Many modern accounting software packages offer separate transaction cycle modules.What is the reason for this?

A well-designed AIS can improve the decision making in an organization.Identify the statement below that describes a situation where an AIS may actually inhibit effective decision making.

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

Which of the following is not an example of how an AIS adds value to an organization?

The AIS must include controls to ensure

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

Identify the primary reason that it is important for a firm to identify the AIS improvements likely to yield the greatest return.

Discuss the concept of a system and the issues of goal conflict and goal congruence.

Discuss the components of a supply chain.

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

In which transaction cycle would customer sales transaction information be most likely to pass between internal and external accounting information systems?

How can an AIS become part of the firm's value chain and add value to the business?

Differentiate between an AIS course and other accounting courses.

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

The transaction cycle that includes the events of hiring employees and paying them is known as the

An accounting information system requires at least one computer.

Accounting information plays major roles in managerial decision making by

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

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

Many modern accounting software packages offer separate transaction cycle modules.What is the reason for this?

A well-designed AIS can improve the decision making in an organization.Identify the statement below that describes a situation where an AIS may actually inhibit effective decision making.

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

Which of the following is not an example of how an AIS adds value to an organization?

The AIS must include controls to ensure

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

Identify the primary reason that it is important for a firm to identify the AIS improvements likely to yield the greatest return.

Discuss the concept of a system and the issues of goal conflict and goal congruence.

Discuss the components of a supply chain.

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

In which transaction cycle would customer sales transaction information be most likely to pass between internal and external accounting information systems?

How can an AIS become part of the firm's value chain and add value to the business?

Differentiate between an AIS course and other accounting courses.

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

The transaction cycle that includes the events of hiring employees and paying them is known as the

An accounting information system requires at least one computer.

Accounting information plays major roles in managerial decision making by

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

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