Question 1

Today's AIS is an enterprise-wide information system that focuses on interdepartmental business processes.

Accepted Answer

A) True 
 B)False  True

Question 2

Sections of the Patriot Act mandate suspicious activity reporting.

Accepted Answer

A) True 
 B)False  True

Question 3

As a result of corporate bankruptcies in 2002,some of the largest public accounting firms are no longer engaged in any consulting work.

Accepted Answer

A) True 
 B)False  True

Question 4

Activity-based costing systems focus on allocating overhead on the basis of direct labor hours used.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is not a component of the balanced scorecard?

Accepted Answer

A) Customer knowledge 
B) Internal business processes 
C) Transaction processing 
D) Financial performance 
A) Customer knowledge 
B) Internal business processes 
C) Transaction processing 
D) Financial performance

Question 6

The U.S.Patriot act:

Accepted Answer

A) Requires banks to monitor their accounts in foreign institutions for fraud 
B) Prohibits companies from lending money to corporate executives 
C) Only applies to publicly-traded companies 
D) all of these are correct 
A) Requires banks to monitor their accounts in foreign institutions for fraud 
B) Prohibits companies from lending money to corporate executives 
C) Only applies to publicly-traded companies 
D) all of these are correct

Question 7

Which of these businesses is not required to report suspicious activities under current federal laws?

Accepted Answer

A) Banks 
B) Money service organizations 
C) Commodity Traders 
D) Mutual fund dealers 
E) Race tracks 
A) Banks 
B) Money service organizations 
C) Commodity Traders 
D) Mutual fund dealers 
E) Race tracks

Question 8

A company's audit trail is normally easier to follow under a manual data processing system compared to a computerized information processing system.

Accepted Answer

A) True 
 B)False

Question 9

An example of a value-added reseller (VAR)is a computer dealer that adds software to the hardware it sells.

Accepted Answer

A) True 
 B)False

Question 10

In a responsibility accounting system,every person within a company takes responsibility for the performance of every business unit.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is true about the terms "data" and "information" within the context of Chapter 1?

Accepted Answer

A) These terms are exactly the same 
B) These terms are exact opposites 
C) Some "data" can also be "information" 
D) none of these 
A) These terms are exactly the same 
B) These terms are exact opposites 
C) Some "data" can also be "information" 
D) none of these

Question 12

Which of these would be considered suspicious activities under current SAR rules?

Accepted Answer

A) Money laundering 
B) Bribing officials 
C) Transferring money to suspected terrorists 
D) all of these 
A) Money laundering 
B) Bribing officials 
C) Transferring money to suspected terrorists 
D) all of these

Question 13

One major difference between financial accounting and managerial accounting is that financial accountants use dashboards while managerial accountants do not.

Accepted Answer

A) True 
 B)False

Question 14

The series of steps leading from data recorded in transaction records to the information reported on financial statements is called the accounting cycle.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following best describes "predictive analytics"?

Accepted Answer

A) It is a method auditors use to predict when managers might have a weak internal control system 
B) It is a technique that uses data stored in data warehouses to create systems that allow managers to use their data to improve performance 
C) It is a method used to prevent managers from overriding internal controls 
D) none of the above 
A) It is a method auditors use to predict when managers might have a weak internal control system 
B) It is a technique that uses data stored in data warehouses to create systems that allow managers to use their data to improve performance 
C) It is a method used to prevent managers from overriding internal controls 
D) none of the above

Question 16

Most AISs perform all of these functions except:

Accepted Answer

A) Collect raw accounting data 
B) Store accounting data for future uses 
C) Process data into useful information 
D) AISs perform all of these functions 
A) Collect raw accounting data 
B) Store accounting data for future uses 
C) Process data into useful information 
D) AISs perform all of these functions

Question 17

Bernard Madoff is most closely associated with which of the following terms?

Accepted Answer

A) The father of activity-based costing systems 
B) SAR 
C) Ponzi scheme 
D) Sarbanes-Oxley Act of 2002 
E) Key sponsor of the Patriot Act 
A) The father of activity-based costing systems 
B) SAR 
C) Ponzi scheme 
D) Sarbanes-Oxley Act of 2002 
E) Key sponsor of the Patriot Act

Question 18

An example of an assurance service for a company engaged in electronic commerce is:

Accepted Answer

A) XBRL 
B) Trust US 
C) CITP 
D) CPA Trust Services 
A) XBRL 
B) Trust US 
C) CITP 
D) CPA Trust Services

Question 19

Predictive analytics use large data warehouses to help organizations improve performance.

Accepted Answer

A) True 
 B)False

Question 20

The process by which a financial transaction is recorded so that its flow through the system can be followed is called:

Accepted Answer

A) Financial shadowing 
B) Managerial trace technique 
C) Concatenation 
D) An audit trail 
A) Financial shadowing 
B) Managerial trace technique 
C) Concatenation 
D) An audit trail

Today's AIS is an enterprise-wide information system that focuses on interdepartmental business processes.

Sections of the Patriot Act mandate suspicious activity reporting.

As a result of corporate bankruptcies in 2002,some of the largest public accounting firms are no longer engaged in any consulting work.

Activity-based costing systems focus on allocating overhead on the basis of direct labor hours used.

Which of the following is not a component of the balanced scorecard?

The U.S.Patriot act:

Which of these businesses is not required to report suspicious activities under current federal laws?

A company's audit trail is normally easier to follow under a manual data processing system compared to a computerized information processing system.

An example of a value-added reseller (VAR)is a computer dealer that adds software to the hardware it sells.

In a responsibility accounting system,every person within a company takes responsibility for the performance of every business unit.

Which of the following is true about the terms "data" and "information" within the context of Chapter 1?

Which of these would be considered suspicious activities under current SAR rules?

One major difference between financial accounting and managerial accounting is that financial accountants use dashboards while managerial accountants do not.

The series of steps leading from data recorded in transaction records to the information reported on financial statements is called the accounting cycle.

Which of the following best describes "predictive analytics"?

Most AISs perform all of these functions except:

Bernard Madoff is most closely associated with which of the following terms?

An example of an assurance service for a company engaged in electronic commerce is:

Predictive analytics use large data warehouses to help organizations improve performance.

The process by which a financial transaction is recorded so that its flow through the system can be followed is called:

Information Technology and Aiss

Data Modeling

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Documenting Accounting Information Systems

Documenting Accounting Information Systems

Accounting Information Systems and Business Processes: Part II

Introduction to Internal Control Systems

Computer Controls for Organizations and Accounting Information Systems

Computer Crime,fraud,ethics,and Privacy

Information Technology Auditing

Developing and Implementing Effective Accounting Information Systems

Accounting on the Internet

Accounting on the Internet

Filters

Exam 1: Accounting Information Systems and the Accountant

Today's AIS is an enterprise-wide information system that focuses on interdepartmental business processes.

Sections of the Patriot Act mandate suspicious activity reporting.

As a result of corporate bankruptcies in 2002,some of the largest public accounting firms are no longer engaged in any consulting work.

Activity-based costing systems focus on allocating overhead on the basis of direct labor hours used.

Which of the following is not a component of the balanced scorecard?

The U.S.Patriot act:

Which of these businesses is not required to report suspicious activities under current federal laws?

A company's audit trail is normally easier to follow under a manual data processing system compared to a computerized information processing system.

An example of a value-added reseller (VAR)is a computer dealer that adds software to the hardware it sells.

In a responsibility accounting system,every person within a company takes responsibility for the performance of every business unit.

Which of the following is true about the terms "data" and "information" within the context of Chapter 1?

Which of these would be considered suspicious activities under current SAR rules?

One major difference between financial accounting and managerial accounting is that financial accountants use dashboards while managerial accountants do not.

The series of steps leading from data recorded in transaction records to the information reported on financial statements is called the accounting cycle.

Which of the following best describes "predictive analytics"?

Most AISs perform all of these functions except:

Bernard Madoff is most closely associated with which of the following terms?

An example of an assurance service for a company engaged in electronic commerce is:

Predictive analytics use large data warehouses to help organizations improve performance.

The process by which a financial transaction is recorded so that its flow through the system can be followed is called:

Information Technology and Aiss

Data Modeling

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Documenting Accounting Information Systems

Documenting Accounting Information Systems

Accounting Information Systems and Business Processes: Part II

Introduction to Internal Control Systems

Computer Controls for Organizations and Accounting Information Systems

Computer Crime,fraud,ethics,and Privacy

Information Technology Auditing

Developing and Implementing Effective Accounting Information Systems

Accounting on the Internet

Accounting on the Internet

Filters