Question 1

Which subsystem is not part of the Accounting Information System?

Accepted Answer

A)  Transaction Processing System 
B)  Expert System 
C)  General Ledger/Financial Reporting System 
D)  Management Reporting System 
A)  Transaction Processing System 
B)  Expert System 
C)  General Ledger/Financial Reporting System 
D)  Management Reporting System

Question 2

A database is a collection of interconnected computers and communications devices that allows users to communicate, access data and applications, and share information and resources.

Accepted Answer

A) True 
 B)False

Question 3

The term "accounting independence" refers to

Accepted Answer

A)  data integrity 
B)  separation of duties, such as record keeping and custody of physical resources 
C)  generation of accurate and timely information 
D)  business segmentation by function 
A)  data integrity 
B)  separation of duties, such as record keeping and custody of physical resources 
C)  generation of accurate and timely information 
D)  business segmentation by function

Question 4

The purpose of the Transaction Processing System includes all of the following except

Accepted Answer

A)  converting economic events into financial transactions 
B)  recording financial transactions in the accounting records 
C)  distributing essential information to operations personnel to support their daily operations 
D)  measuring and reporting the status of financial resources and the changes in those resources 
A)  converting economic events into financial transactions 
B)  recording financial transactions in the accounting records 
C)  distributing essential information to operations personnel to support their daily operations 
D)  measuring and reporting the status of financial resources and the changes in those resources

Question 5

The major difference between the Financial Reporting System (FRS) and the Management Reporting System (MRS) is the

Accepted Answer

A)  FRS provides information to internal and external users; the MRS provides information to internal users 
B)  FRS provides discretionary information; the MRS provides nondiscretionary information 
C)  FRS reports are prepared using information provided by the General Ledger System; the MRS provides information to the General Ledger System 
D)  FRS reports are prepared in flexible, nonstandardized formats; the MRS reports are prepared in standardized, formal formats 
A)  FRS provides information to internal and external users; the MRS provides information to internal users 
B)  FRS provides discretionary information; the MRS provides nondiscretionary information 
C)  FRS reports are prepared using information provided by the General Ledger System; the MRS provides information to the General Ledger System 
D)  FRS reports are prepared in flexible, nonstandardized formats; the MRS reports are prepared in standardized, formal formats

Question 6

IT outsourcing is location-independent computing.

Accepted Answer

A) True 
 B)False

Question 7

Compare and contrast IT outsourcing and cloud computing.

Accepted Answer

IT outsourcing involved an organization

Question 8

Which of the following is not a business resource?

Accepted Answer

A)  raw material 
B)  labor 
C)  information 
D)  all are business resources 
A)  raw material 
B)  labor 
C)  information 
D)  all are business resources

Question 9

Information lacking reliability may still have value.

Accepted Answer

A) True 
 B)False

Question 10

Retrieval is the task of permanently removing obsolete or redundant records from the database.

Accepted Answer

A) True 
 B)False

Question 11

The Transaction Processing System includes all of the following cycles except

Accepted Answer

A)  the revenue cycle 
B)  the administrative cycle 
C)  the expenditure cycle 
D)  the conversion cycle 
A)  the revenue cycle 
B)  the administrative cycle 
C)  the expenditure cycle 
D)  the conversion cycle

Question 12

An appraisal function housed within the organization that performs a wide range of services for management is

Accepted Answer

A)  internal auditing 
B)  data control group 
C)  external auditing 
D)  database administration 
A)  internal auditing 
B)  data control group 
C)  external auditing 
D)  database administration

Question 13

Custom software is the most affordable systems development option.

Accepted Answer

A) True 
 B)False

Question 14

The objectives of an information system include each of the following except

Accepted Answer

A)  support for the stewardship responsibilities of management 
B)  furthering the financial interests of shareholders 
C)  support for management decision making 
D)  support for the firm's day-to-day operations 
A)  support for the stewardship responsibilities of management 
B)  furthering the financial interests of shareholders 
C)  support for management decision making 
D)  support for the firm's day-to-day operations

Question 15

Information is a business resource.

Accepted Answer

A) True 
 B)False

Question 16

What are the similarities and differences between external auditors and internal auditors?

Accepted Answer

The characteristic that conceptually dis

Question 17

Explain the difference between data and information.

Accepted Answer

Data are facts which may or ma

Question 18

Which of the following is not a cloud computing service?

Accepted Answer

A)  Software as a service 
B)  Infrastructure as a service 
C)  Network as a service 
D)  Platform as a service 
A)  Software as a service 
B)  Infrastructure as a service 
C)  Network as a service 
D)  Platform as a service

Question 19

Market research and advertising are part of which business function?

Accepted Answer

A)  materials management 
B)  finance 
C)  marketing 
D)  production 
A)  materials management 
B)  finance 
C)  marketing 
D)  production

Question 20

Effective information has all of the following characteristics except

Accepted Answer

A)  relevance 
B)  completeness 
C)  summarization 
D)  structure 
A)  relevance 
B)  completeness 
C)  summarization 
D)  structure

Which subsystem is not part of the Accounting Information System?

A database is a collection of interconnected computers and communications devices that allows users to communicate, access data and applications, and share information and resources.

The term "accounting independence" refers to

The purpose of the Transaction Processing System includes all of the following except

The major difference between the Financial Reporting System (FRS) and the Management Reporting System (MRS) is the

IT outsourcing is location-independent computing.

Compare and contrast IT outsourcing and cloud computing.

Which of the following is not a business resource?

Information lacking reliability may still have value.

Retrieval is the task of permanently removing obsolete or redundant records from the database.

The Transaction Processing System includes all of the following cycles except

An appraisal function housed within the organization that performs a wide range of services for management is

Custom software is the most affordable systems development option.

The objectives of an information system include each of the following except

Information is a business resource.

What are the similarities and differences between external auditors and internal auditors?

Explain the difference between data and information.

Which of the following is not a cloud computing service?

Market research and advertising are part of which business function?

Effective information has all of the following characteristics except

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting, and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, Program Changes, and Application Controls

Filters

Exam 1: The Information System: an Accountants Perspective

Which subsystem is not part of the Accounting Information System?

A database is a collection of interconnected computers and communications devices that allows users to communicate, access data and applications, and share information and resources.

The term "accounting independence" refers to

The purpose of the Transaction Processing System includes all of the following except

The major difference between the Financial Reporting System (FRS) and the Management Reporting System (MRS) is the

IT outsourcing is location-independent computing.

Compare and contrast IT outsourcing and cloud computing.

Which of the following is not a business resource?

Information lacking reliability may still have value.

Retrieval is the task of permanently removing obsolete or redundant records from the database.

The Transaction Processing System includes all of the following cycles except

An appraisal function housed within the organization that performs a wide range of services for management is

Custom software is the most affordable systems development option.

The objectives of an information system include each of the following except

Information is a business resource.

What are the similarities and differences between external auditors and internal auditors?

Explain the difference between data and information.

Which of the following is not a cloud computing service?

Market research and advertising are part of which business function?

Effective information has all of the following characteristics except

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting, and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, Program Changes, and Application Controls

Filters