ACC 564 Quiz 1 – Strayer New
ACC 564 Week 3 Quiz 1 Chapter 1,
2, 3 and 5
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Chapter
1 Accounting Information Systems: An
Overview
1)
Which of the following statements below shows the contrast between data and
information?
A)
Data is the output of an AIS.
B)
Information is the primary output of an AIS.
C)
Data is more useful in decision-making than information.
D)
Data and information are the same.
Answer:
Page
Ref: 4
Objective: Learning Objective 1
Difficulty
: Easy
AACSB: Analytic
2)
Information is
A)
basically the same as data.
B)
raw facts about transactions.
C)
potentially useful facts when processed in a timely manner.
D)
data that has been organized and processed so that it's meaningful.
Answer:
Page
Ref: 4
Objective: Learning Objective 1
Difficulty
: Easy
AACSB: Analytic
3)
The value of information can best be defined as
A)
how useful it is to decision makers.
B)
the benefits produced by possessing and using the information minus the cost of
producing it.
C)
how relevant it is.
D)
the extent to which it maximizes the value chain.
Answer:
Page
Ref: 4
Objective: Learning Objective 1
Difficulty
: Moderate
AACSB:
Analytic
4)
An accounting information system (AIS) processes ________ to provide users with
________.
A)
data; information
B)
data; transactions
C)
information; data
D)
data; benefits
Answer:
Page
Ref: 10
Objective: Learning Objective 1
Difficulty
: Easy
AACSB: Analytic
5)
Information that reduces uncertainty, improves decision makers' ability to make
predictions, or confirms or corrects their prior expectations, is said to be
A)
complete.
B)
relevant.
C)
reliable.
D)
timely.
Answer:
Page
Ref: 5
Objective: Learning Objective 1
Difficulty
: Easy
AACSB: Analytic
6)
Information that is free from error or bias and accurately represents the
events or activities of the organization is
A)
relevant.
B)
reliable.
C)
verifiable.
D)
timely.
Answer:
Page
Ref: 5
Objective: Learning Objective 1
Difficulty
: Easy
AACSB:
Analytic
7)
Information that does not omit important aspects of the underlying events or
activities that it measures is
A)
complete.
B)
accessible.
C)
relevant.
D)
timely.
Answer:
Page
Ref: 5
Objective: Learning Objective 1
Difficulty
: Easy
AACSB: Analytic
8)
When two knowledgeable people acting independently each produce the same
information, this information is said to be
A)
complete.
B)
relevant.
C)
reliable.
D)
verifiable.
Answer:
Page
Ref: 5
Objective: Learning Objective 1
Difficulty
: Easy
AACSB: Analytic
9)
Data must be converted into information to be considered useful and meaningful
for decision-making. There are six characteristics that make information both
useful and meaningful. If information is free from error or bias and accurately
represents the events or activities of the organization, it is representative
of the characteristic of
A)
relevancy.
B)
timeliness.
C)
understandability.
D)
reliability.
Answer:
Page
Ref: 5
Objective: Learning Objective 1
Difficulty
: Easy
AACSB:
Analytic
10)
An accounting information system must be able to perform which of the following
tasks?
A)
collect transaction data
B)
process transaction data
C)
provide adequate controls
D)
all of the above
Answer:
Page
Ref: 10
Objective: Learning Objective 5
Difficulty
: Easy
AACSB: Analytic
11)
Which of the following is not an example of a common activity in an AIS?
A)
buy and pay for goods and services
B)
sell goods and services and collect cash
C)
summarize and report results to interested parties
D)
recording of sales calls for marketing purposes
Answer:
Page
Ref: 8
Objective: Learning Objective 5
Difficulty
: Easy
AACSB: Analytic
12)
Which of the following is not one of the components of an AIS?
A)
Internal controls and security measures
B)
People
C)
Procedures and instructions
D)
Hardware
Answer:
Page
Ref: 10
Objective: Learning Objective 5
Difficulty
: Easy
AACSB: Analytic
13)
One group that relies on both the adequate collection and transformation of
data for decision-making purposes for an organization is
A)
management.
B)
interested outsiders.
C)
competitors.
D)
the government.
Answer:
Page
Ref: 12
Objective: Learning Objective 3
Difficulty
: Easy
AACSB:
Analytic
14)
The primary objective of accounting is to
A)
implement strong internal controls.
B)
provide useful information to decision makers.
C)
prepare financial statements.
D)
ensure the profitability of an organization.
Answer:
Page
Ref: 12
Objective: Learning Objective 5
Difficulty
: Moderate
AACSB: Analytic
15)
The American Institute of Certified Public Accountants (AICPA) has recognized
the importance of AIS and the major impact information technology has on the
area of accounting. To recognize individual CPAs who have met educational and
experiential requirements in this area, the group formally created the
designation known as
A)
the Certified Management Accountant.
B)
the Certified Information Technology Professional.
C)
the Certified Internal Auditor.
D)
the Certified Data Processing Professional.
Answer:
Page
Ref: 11
Objective: Learning Objective 6
Difficulty
: Moderate
AACSB: Analytic
16)
The AIS must include controls to ensure
A)
safety and availability of data.
B)
marketing initiatives match corporate goals.
C)
information produced from data is accurate.
D)
both A and C
Answer:
Page
Ref: 10
Objective: Learning Objective 6
Difficulty
: Easy
AACSB:
Analytic
17)
A change in the AIS that makes information more easily accessible and widely
available within an organization is most likely to first influence the
A)
organizational culture.
B)
customer base.
C)
external financial statement users.
D)
production activity.
Answer:
Page
Ref: 13
Objective: Learning Objective 7
Difficulty
: Easy
AACSB: Analytic
18)
The process of creating value for customers is the result of nine activities
that form a
A)
value chain.
B)
profitable operation.
C)
successful business.
D)
support system.
Answer:
Page
Ref: 13
Objective: Learning Objective 8
Difficulty
: Easy
AACSB: Analytic
19)
The value chain concept is composed of two types of activities known as
A)
primary and support.
B)
primary and secondary.
C)
support and value.
D)
technology and support.
Answer:
Page
Ref: 13-14
Objective: Learning Objective 8
Difficulty
: Moderate
AACSB: Analytic
20)
Which of the following is a primary activity in the value chain?
A)
infrastructure
B)
technology
C)
purchasing
D)
marketing and sales
Answer:
Page
Ref: 14
Objective: Learning Objective 8
Difficulty
: Easy
AACSB:
Analytic
21)
In value chain analysis, what is the activity of arranging the delivery of
products to customers called?
A)
outbound logistics
B)
inbound logistics
C)
shipping
D)
delivery
Answer:
Page
Ref: 14
Objective: Learning Objective 8
Difficulty
: Moderate
AACSB: Analytic
22)
An AIS provides value by
A)
improving products or services through information that increases quality and
reduces costs.
B)
providing timely and reliable information to decision makers.
C)
creating new products.
D)
both A and B
Answer:
Page
Ref: 11
Objective: Learning Objective 6
Difficulty
: Easy
AACSB: Analytic
23)
In Chapter 1, Figure 1-4 shows the factors that influence the design of AIS.
The diagram shows a bi-directional arrow between the organizational culture and
the AIS. The reason for this two-way interchange between organizational culture
and AIS is
A)
that the AIS should not influence the values of the organizational culture.
B)
because the organization's culture influences the AIS, and likewise the AIS
influences the organization's culture by controlling the flow of information
within the organization.
C)
due to the transfer of managers between the two corporate elements.
D)
the AIS impacts the organization's key strategies.
Answer:
Page
Ref: 13
Objective: Learning Objective 7
Difficulty
: Easy
AACSB:
Analytic
24)
An example of inbound logistics would consist of
A)
the activities that transform inputs into final products or services.
B)
the activities that help customers to buy the organization's products or
services.
C)
the activities that provide post-sale support to customers.
D)
the activities that consist of receiving, storing, and distributing the
materials used as inputs by the organization to create goods and/or services it
sells.
Answer:
Page
Ref: 13
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