Exam 15: Dicision Making Models and Knowledge Management

Newspapers are easier to read than textbooks, illustrating which of the following causes of information overload?

Which of the following would precede the identifying phase of Steps for Better Thinking: (i) obtaining a college degree, (ii) reading the newspaper.

Steps for Better Thinking comprises four steps after its foundation level. Which of the following is most representative of Level Four?

Mike was auditing the accounting information system of FBN Corporation. He wanted to select a sample of transactions to verify; rather than considering all the possible choices, he used a sampling method he found easiest in school. Mike's behavior is an example of:

Denise had memorized rules about making adjusting entries in the accounting information system. She continued to use those rules, even when they failed to produce the best outcome possible. Her behavior is an example of:

Mike had recently finished his accounting degree, and was considering which professional journals he should subscribe to in his career. He purchased ten different journals and read the first article in each one, then made his decision. His behavior is an example of:

Kay was frustrated. She was auditing a new client for the first time, but the client's accounting information system was in complete disarray. The client, a multi-national corporation, had boxes and filing cabinets full of paper forms in at least three languages. She had been working very long days with her other clients, too. She needed to come up with a plan for making sense of the documents before she could proceed with any of the audit tasks. -Kay is suffering from a very common problem associated with decision making. Identify and define the problem; then, identify and describe at least three general causes of it.

Every year, David promises himself to file his taxes as soon as possible. But, inevitably, he waits until the last minute. David's behavior is an example of:

Which element of Steps for Better Thinking focuses on interpreting and organizing information?

Kay was frustrated. She was auditing a new client for the first time, but the client's accounting information system was in complete disarray. The client, a multi-national corporation, had boxes and filing cabinets full of paper forms in at least three languages. She had been working very long days with her other clients, too. She needed to come up with a plan for making sense of the documents before she could proceed with any of the audit tasks. -Kay is experiencing information overload. The text identified five common sources of information overload; explain which of the five are related to Kay's specific situation.

Steps for Better Thinking Indicate which level of Steps for Better Thinking is described by each of the following items. a. Acquire background knowledge and skills b. Choose and implement solutions. c. Deal with limitations to the solution. d. Identify the problem, relevant information and uncertainties. e. Interpret and organize the information.

Matt needed to estimate uncollectible receivables as part of a financial statement audit. According to Steps for Better Thinking, which of the following should Matt do first?

A student creates an online knowledge management system for evaluating professors at her university. Her system fulfills all the objectives of a knowledge management system except:

Betsy and Molly had identified three business goals for their company's knowledge management system. Their supervisor asked them which goal was most important. Betsy and Molly would use the ___ level of Steps for Better Thinking to answer the supervisor's question.

Which element of Steps for Better Thinking focuses on choosing and implementing solutions?

Kay was frustrated. She was auditing a new client for the first time, but the client's accounting information system was in complete disarray. The client, a multi-national corporation, had boxes and filing cabinets full of paper forms in at least three languages. She had been working very long days with her other clients, too. She needed to come up with a plan for making sense of the documents before she could proceed with any of the audit tasks. -Assume Kay has the background information and skills she needs to solve the problem. Use the first three levels of Steps for Better Thinking to advise Kay on how to proceed.

Which element of Steps for Better Thinking focuses on finding relevant information and acknowledging uncertainties?

Which element of Steps for Better Thinking focuses on acquiring background knowledge and skills?

Mike had recently finished his accounting degree, and was considering which professional journals he should subscribe to in his career. He purchased two journals and read all the articles in each one, then made his decision. His behavior is an example of:

Part of creating a knowledge management system is creating a visual map of its ideas. Create a visual map that depicts at least three major ideas related to internal control in accounting information systems.