Question 1

The ________ is a set of programs or instructions that drive the computer to perform the work desired.

Accepted Answer

A) network 
B) hardware 
C) software 
D) router 
A) network 
B) hardware 
C) software 
D) router

Question 2

Generally,all transactions are recorded in a special journal as well as the general journal.

Accepted Answer

A) True 
 B)False

Question 3

List the four special journals that are often used in a manual accounting information system.State what types of transactions are recorded in each of these special journals.

Accepted Answer

1.Sales journal: used to record sales on

Question 4

Which of the following is not typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?

Accepted Answer

A) Interest Revenue CR column 
B) Cost of Goods Sold DR,Merchandise Inventory CR column 
C) Sales Revenue CR column 
D) Other Accounts CR column 
A) Interest Revenue CR column 
B) Cost of Goods Sold DR,Merchandise Inventory CR column 
C) Sales Revenue CR column 
D) Other Accounts CR column

Question 5

A disadvantage of a typical enterprise resource planning system is that it cannot be offered through cloud computing.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following are debit columns in a typical cash payments journal?

Accepted Answer

A) Merchandise Inventory column and Cash column 
B) Other Accounts column and Accounts Payable column 
C) Merchandise Inventory column and Accounts Payable column 
D) Other Accounts column and Cash column 
A) Merchandise Inventory column and Cash column 
B) Other Accounts column and Accounts Payable column 
C) Merchandise Inventory column and Accounts Payable column 
D) Other Accounts column and Cash column

Question 7

Which of the following is an example of hardware?

Accepted Answer

A) monitor 
B) malware 
C) firewall 
D) operating system 
A) monitor 
B) malware 
C) firewall 
D) operating system

Question 8

Cameron Enterprises uses special journals.The company borrowed $10,000 from First Bank.This transaction is recorded in the ________.

Accepted Answer

A) general journal 
B) debt journal 
C) cash receipts journal 
D) cash payments journal 
A) general journal 
B) debt journal 
C) cash receipts journal 
D) cash payments journal

Question 9

Deal Corporation sells a product for $500 on account to Liza Masters.This transaction will be recorded in the ________.

Accepted Answer

A) cash payments journal 
B) sales journal 
C) cash receipts journal 
D) purchase journal 
A) cash payments journal 
B) sales journal 
C) cash receipts journal 
D) purchase journal

Question 10

Liberty Corporation sells a product for $500 cash to Sarah Lewis.This transaction will be recorded in the ________.

Accepted Answer

A) cash payments journal 
B) sales journal 
C) cash receipts journal 
D) purchase journal 
A) cash payments journal 
B) sales journal 
C) cash receipts journal 
D) purchase journal

Question 11

An accounting information system collects,records,stores,and processes accounting data to produce information that is useful for decision makers.

Accepted Answer

A) True 
 B)False

Question 12

Entry-level accounting software ________.

Accepted Answer

A) can handle advanced processes and transactions 
B) is an affordable system that is difficult to use 
C) allows businesses to enter sales of services and merchandise inventory,record expenses,and produce financial statements 
D) integrates all of a company's functions,departments,and data into a single system 
A) can handle advanced processes and transactions 
B) is an affordable system that is difficult to use 
C) allows businesses to enter sales of services and merchandise inventory,record expenses,and produce financial statements 
D) integrates all of a company's functions,departments,and data into a single system

Question 13

An accounting information system is said to have good flexibility,if it ________.

Accepted Answer

A) works smoothly with the business's employees and organizational structure 
B) safeguards a business's assets and reduces the likelihood of fraud and errors 
C) provides information that will improve decision making and reduce uncertainty 
D) accommodates changes in the business over time 
A) works smoothly with the business's employees and organizational structure 
B) safeguards a business's assets and reduces the likelihood of fraud and errors 
C) provides information that will improve decision making and reduce uncertainty 
D) accommodates changes in the business over time

Question 14

St.Petersburg Corporation makes a $1,200 purchase of merchandise inventory for cash.This transaction will be recorded in the ________.

Accepted Answer

A) cash payments journal 
B) general journal 
C) cash receipts journal 
D) purchase journal 
A) cash payments journal 
B) general journal 
C) cash receipts journal 
D) purchase journal

Question 15

In a manual accounting information system,reports and financial statements must be created using Word documents,Excel spreadsheets,or PowerPoint.

Accepted Answer

A) True 
 B)False

Question 16

Examples of source documents in an accounting information system include the statement of cash flows and sales journal.

Accepted Answer

A) True 
 B)False

Question 17

Since a computerized system uses software to process transactions,employees are no longer required to manually journalize and post transactions to the accounts.

Accepted Answer

A) True 
 B)False

Question 18

A cash payments journal is a special journal that ________.

Accepted Answer

A) differs from the cash disbursements journal 
B) eliminates the need to perform a bank reconciliation 
C) is used to record cash payments by check and currency 
D) is used to record the net of cash payments and cash receipts by check and currency 
A) differs from the cash disbursements journal 
B) eliminates the need to perform a bank reconciliation 
C) is used to record cash payments by check and currency 
D) is used to record the net of cash payments and cash receipts by check and currency

Question 19

Which of the following is a benefit of using a computerized accounting information system?

Accepted Answer

A) The software can accurately measure the intrinsic value of the firm using the built-in simulation techniques. 
B) There is no need to review the financial statements for accuracy. 
C) The software is easy to use,thus no training or review is necessary. 
D) The software automatically transfers the amounts from the general ledger to the financial statements. 
A) The software can accurately measure the intrinsic value of the firm using the built-in simulation techniques. 
B) There is no need to review the financial statements for accuracy. 
C) The software is easy to use,thus no training or review is necessary. 
D) The software automatically transfers the amounts from the general ledger to the financial statements.

Question 20

What are the two basic components of a computerized accounting information system?

Accepted Answer

A) sales journal and purchase journal 
B) hardware and software 
C) cash payments journal and cash receipts journal 
D) network and cloud computing 
A) sales journal and purchase journal 
B) hardware and software 
C) cash payments journal and cash receipts journal 
D) network and cloud computing

Exam 27: Accounting Information Systems

The ________ is a set of programs or instructions that drive the computer to perform the work desired.

Generally,all transactions are recorded in a special journal as well as the general journal.

List the four special journals that are often used in a manual accounting information system.State what types of transactions are recorded in each of these special journals.

Which of the following is not typically shown as a separate column in a cash receipts journal that uses the perpetual inventory system?

A disadvantage of a typical enterprise resource planning system is that it cannot be offered through cloud computing.

Which of the following are debit columns in a typical cash payments journal?

Which of the following is an example of hardware?

Cameron Enterprises uses special journals.The company borrowed $10,000 from First Bank.This transaction is recorded in the ________.

Deal Corporation sells a product for $500 on account to Liza Masters.This transaction will be recorded in the ________.

Liberty Corporation sells a product for $500 cash to Sarah Lewis.This transaction will be recorded in the ________.

An accounting information system collects,records,stores,and processes accounting data to produce information that is useful for decision makers.

Entry-level accounting software ________.

An accounting information system is said to have good flexibility,if it ________.

St.Petersburg Corporation makes a $1,200 purchase of merchandise inventory for cash.This transaction will be recorded in the ________.

In a manual accounting information system,reports and financial statements must be created using Word documents,Excel spreadsheets,or PowerPoint.

Examples of source documents in an accounting information system include the statement of cash flows and sales journal.

Since a computerized system uses software to process transactions,employees are no longer required to manually journalize and post transactions to the accounts.

A cash payments journal is a special journal that ________.

Which of the following is a benefit of using a computerized accounting information system?

What are the two basic components of a computerized accounting information system?

Accounting and the Business Environment

Recording Business Transactions

The Adjusting Process

Completing the Accounting Cycle

Merchandising Operations

Merchandise Inventory

Internal Control and Cash

Receivables

Plant Assets, natural Resources, and Intangibles

Investments

Current Liabilities and Payroll

Long-Term Liabilities

Stockholders Equity

The Statement of Cash Flows

Financial Statement Analysis

Introduction to Managerial Accounting

Job Order Costing

Process Costing

Cost Management Systems: Activity-Based, just-In-Time, and Quality Management Systems

Cost-Volume-Profit Analysis

Variable Costing

Master Budgets

Flexible Budgets and Standard Cost Systems

Responsibility Accounting and Performance Evaluation

Short-Term Business Decisions

Capital Investment Decisions

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