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Exam 1: Accounting Information Systems: an Overview

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Question 41

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How are "Give and Take" transactions classified in business today and what impact does this have on AIS?

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The concept of "Give and Take" transacti...

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Question 42

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Many modern accounting software packages offer separate transaction cycle modules.What is the reason for this?

A) Every organization does not need to implement all of the available transaction cycle modules.
B) Most businesses do not need the revenue cycle module as part of their AIS.
C) The nature of a given transaction cycle is the same irrespective of the type of organization.
D) A properly designed AIS does not use the concept of separate business transaction cycles to process transactions.

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Question 43

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Differentiate between an AIS course and other accounting courses.

Who of the following would not be involved in the revenue cycle?

Accounting information plays major roles in managerial decision making by

In 2003,Custer Manufacturing implemented a Web-based information system that allows all employees to access mission-critical information.The intention was to increase production efficiency.Unfortunately,it had the opposite effect,as deliveries fell behind schedule and costs increased.Jeff Akspen,the director of information technology services,asked Joyce Jenkins to come in and talk with him about the system.Joyce is a long-time employee of Custer,and her opinion is valued by her peers and by her supervisor."So Joyce,how's it going down there in the shop?""Not so good,Jeff.Used to be we got a weekly pick list so we knew how to plan production.Now,we got that computer system.Most of us can't figure out how to use it to do our jobs.Is there some way to print out a pick list?"Jeff thought for a while before responding."Well,Joyce,to tell you the truth,I'm not so sure how to do it myself,but there must be a way.We'll bring in the consultants that helped us build the system.Maybe they can help." Which of the following characteristics of useful information is absent in the situation described above?

A frantic Stro Frinzel called the home office from Des Moines."You have got to help me.I am about to close a great sale,but I have to be able to guarantee delivery by the fourteenth.I can't get through to the company Web site to verify delivery!""Thank you for calling.Your call is very important to us.However,all of our lines are currently in use.Please try again later."Which of the following characteristics of useful information is absent in the situation described above? A) Relevant B) Reliable C) Complete D) Timely E) Understandable F) Verifiable G) Accessible

One activity within the value chain is research and development.This activity can be identified as a

Paying federal payroll taxes is part of which transaction cycle?

Paid time-off policies,job descriptions,and procedures manuals are examples of information needed to support key decisions in what business process?

The process of creating value for customers is the result of nine activities that form a

The transaction cycle that includes the events of hiring employees and paying them is known as the

Information is

Which of the following is not a transaction cycle?

The business owners obtain financing from outside investors,which results in an inflow of cash into the company.This transaction is considered to be part of which cycle?

Which of the following statements below shows the contrast between data and information?

One group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is

In value chain analysis,what is the activity of arranging the delivery of products to customers called?

Information that is free from error or bias and accurately represents the events or activities of the organization is