Question 1

True or False: An accounting information system requires at least one computer.

Accepted Answer

A) True 
 B)False

Question 2

True or False: When properly deployed,accounting information systems can provide firms with a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 3

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

Question 4

True or False: It is important that a firm's AIS collect and integrate financial and non-financial information about the organization's activities if the firm seeks use its AIS to gain a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 5

One group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is

Accepted Answer

A) management. 
B) interested outsiders. 
C) competitors. 
D) the government. 
A) management. 
B) interested outsiders. 
C) competitors. 
D) the government.

Question 6

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

Accepted Answer

A) firm infrastructure activity. 
B) human resources activity. 
C) technology activity. 
D) purchasing activity. 
A) firm infrastructure activity. 
B) human resources activity. 
C) technology activity. 
D) purchasing activity.

Question 7

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 15%,the product innovation is expected to generate ROI of only 12%.As a result,the employee fails to follow up.As a result,awarding bonuses to employees based on ROI resulted in

Accepted Answer

A) goal conflict. 
B) information overload. 
C) goal congruence. 
D) decreased value of information. 
A) goal conflict. 
B) information overload. 
C) goal congruence. 
D) decreased value of information.

Question 8

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 9

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 10

The value of information can best be determined by

Accepted Answer

A) its usefulness to decision makers. 
B) its relevance to decision makers. 
C) the benefits associated with obtaining the information minus the cost of producing it. 
D) the extent to which it optimizes the value chain. 
A) its usefulness to decision makers. 
B) its relevance to decision makers. 
C) the benefits associated with obtaining the information minus the cost of producing it. 
D) the extent to which it optimizes the value chain.

Question 11

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

Question 12

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 13

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 14

Define the concept of a system.

Accepted Answer

A system is a set of two or mo

Question 15

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 16

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 17

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 18

How are "Give and Take" transactions classified in business today and what impact does this have on AIS?

Accepted Answer

The concept of "Give and Take" transacti

Question 19

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 20

Paying state payroll taxes 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

True or False: An accounting information system requires at least one computer.

True or False: When properly deployed,accounting information systems can provide firms with a competitive advantage.

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

True or False: It is important that a firm's AIS collect and integrate financial and non-financial information about the organization's activities if the firm seeks use its AIS to gain a competitive advantage.

One group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is

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

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

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

The value of information can best be determined by

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

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

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

Define the concept of a system.

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

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

How are "Give and Take" transactions classified in business today and what impact does this have on AIS?

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

Paying state payroll taxes is part of which transaction cycle?

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

True or False: An accounting information system requires at least one computer.

True or False: When properly deployed,accounting information systems can provide firms with a competitive advantage.

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

True or False: It is important that a firm's AIS collect and integrate financial and non-financial information about the organization's activities if the firm seeks use its AIS to gain a competitive advantage.

One group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is

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

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

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

The value of information can best be determined by

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

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

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

Define the concept of a system.

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

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

How are "Give and Take" transactions classified in business today and what impact does this have on AIS?

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

Paying state payroll taxes is part of which transaction cycle?

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