Copy and Edit

ACCT 3324: AIS - Exam 1 Study

Description

Ch 1, 2, 4, & 12
Justin Herrin
Quiz by Justin Herrin, updated more than 1 year ago
Justin Herrin
Created by Justin Herrin about 5 years ago
122
0
0

Resource summary

Question 1

Question
Data differ from information in which way?
Answer
  • Data are output and information is input.
  • Information is output and data are input.
  • Data are meaningful bits of information.
  • Press enter after select an option to check the answer There is no difference.

Question 2

Question
Which of the following is not a characteristic that makes information useful?
Answer
  • It is reliable.
  • It is timely.
  • It is inexpensive.
  • It is relevant.

Question 3

Question
Which of the following is a primary activity in the value chain?
Answer
  • Purchasing
  • Accounting
  • Post-sales service
  • Human resource management

Question 4

Question
Which transaction cycle includes interactions between an organization and its suppliers?
Answer
  • Revenue cycle
  • Expenditure
  • Human resources/payroll cycle
  • General ledger and reporting system

Question 5

Question
Which of the following is not a means by which information improves decision making?
Answer
  • Increases information overload
  • Reduces uncertainty
  • Provides feedback about the effectiveness of prior decisions
  • Identifies situations requiring management action

Question 6

Question
In the value chain concept, upgrading IT is considered what kind of activity?
Answer
  • Primary activity
  • Support activity
  • Service activity
  • Structured activity

Question 7

Question
In which cycle does a company ship goods to customers?
Answer
  • Production cycle
  • Financing cycle
  • Revenue cycle
  • Expenditure cycle

Question 8

Question
Which of the following is a function of an AIS?
Answer
  • Reducing the need to identify a strategy and strategic position
  • Transforming data into useful information
  • Allocating organizational resources
  • Automating all decision making

Question 9

Question
A firm, its suppliers, and its customers collectively form which of the following?
Answer
  • Supply chain
  • Value chain
  • ERP system
  • AIS

Question 10

Question
A report telling how well all approved vendors have performed in the prior 12 months is information that is MOST needed in which business process?
Answer
  • Paying vendors
  • Acquiring inventory
  • Selling merchandise
  • Paying employees

Question 11

Question
Which of the following is not a step in the data processing cycle?
Answer
  • Data collection
  • Data input
  • Data storage
  • Data processing

Question 12

Question
All of the information (e.g., name, GPA, major, etc.) about a particular student is stored in the same _______________.
Answer
  • file
  • record
  • attribute
  • field

Question 13

Question
Which of the following would contain the total value of all inventory owned by an organization?
Answer
  • Source document
  • General ledger
  • Cash budget

Question 14

Question
Which of the following is most likely to be a general ledger control account?
Answer
  • Accounts receivable
  • Petty cash
  • Prepaid rent
  • Retained earnings

Question 15

Question
Which of the following documents is most likely to be used in the expenditure cycle?
Answer
  • Sales order
  • Credit memo
  • Receiving report
  • Job time ticket

Question 16

Question
Which of the following is least likely to be a specialized journal?
Answer
  • Sales journal
  • Cash receipts journal
  • Prepaid insurance journal
  • Cash disbursements journal

Question 17

Question
How does the chart of accounts list general ledger accounts?
Answer
  • Alphabetical order
  • Chronological order
  • Size order
  • The order in which they appear in financial statements

Question 18

Question
Which of the following is not an advantage of an ERP system?
Answer
  • Better access control
  • Standardization of procedures and reports
  • Improved monitoring capabilities
  • Simplicity and reduced costs

Question 19

Question
Records of company data sent to an external party and then returned to the system as input are called _________.
Answer
  • Turnaround documents
  • Source data automation documents
  • Source documents
  • External input documents

Question 20

Question
Recording and processing information about a transaction at the time it takes place is referred to as which of the following?
Answer
  • Batch processing
  • Online, real-time processing
  • Captured transaction processing
  • Chart of accounts processing

Question 21

Question
The relational data model portrays data as being stored in __________.
Answer
  • hierarchies
  • tables
  • objects
  • files

Question 22

Question
How a user conceptually organizes and understands data is referred to as the __________.
Answer
  • physical view
  • logical view
  • data model view
  • data organization view

Question 23

Question
What is each row in a relational database table called?
Answer
  • Relation
  • Attribute
  • Anomaly
  • Tuple

Question 24

Question
Which of the following is an individual user’s view of the database?
Answer
  • Conceptual-level schema
  • External-level schema
  • Internal-level schema
  • Logical-level schema

Question 25

Question
Which of the following would managers most likely use to retrieve information about sales during the month of October?
Answer
  • DML
  • DSL
  • DDL
  • DQL

Question 26

Question
Which of the following attributes would most likely be a primary key?
Answer
  • Supplier name
  • Supplier number
  • Supplier zip code
  • Supplier account balance

Question 27

Question
Which of the following is a software program that runs a database system?
Answer
  • DQL
  • DBMS
  • DML
  • DDL

Question 28

Question
The constraint that all primary keys must have non-null data values is referred to as which of the following?
Answer
  • Referential integrity rule
  • Entity integrity rule
  • Normalization rule
  • Relational data model rule

Question 29

Question
The constraint that all foreign keys must have either null values or the value of a primary key in another table is referred to as which of the following?
Answer
  • Referential integrity rule
  • Entity integrity rule
  • Foreign key value rule
  • Null value rule

Question 30

Question
Which of the following attributes in the Cash Receipts table (representing payments received from customers) would most likely be a foreign key?
Answer
  • Cash receipt number
  • Customer check number
  • Customer number
  • Cash receipt date

Question 31

Question
Which activity is part of the sales order entry process?
Answer
  • Setting customer credit limits
  • Preparing a bill of lading
  • Checking customer credit
  • Approving sales returns

Question 32

Question
Which document often accompanies merchandise shipped to a customer?
Answer
  • Picking ticket
  • Packing slip
  • Credit memo
  • Sales order

Question 33

Question
Which method is most likely used when a company offers customers discounts for prompt payment?
Answer
  • Open-invoice method
  • Balance-forward method
  • Accounts receivable aging method
  • Cycle billing method

Question 34

Question
Which of the following techniques is the most efficient way to process customer payments and update accounts receivable?
Answer
  • EFT
  • UPIC
  • FEDI
  • ACH

Question 35

Question
Which of the following revenue cycle activities can potentially be eliminated by technology?
Answer
  • Sales order entry
  • Shipping
  • Billing
  • Cash collections

Question 36

Question
The integrated database underlying an ERP system results in which of the following general threats to the revenue cycle?
Answer
  • Inaccurate or invalid master data
  • Unauthorized disclosure of sensitive information
  • Loss or destruction of data
  • All of the above

Question 37

Question
Which document is used to authorize the release of merchandise from the inventory control (warehouse) to shipping?
Answer
  • Picking ticket
  • Packing slip
  • Shipping order
  • Sales invoice

Question 38

Question
Which of the following provides a means to both improve the efficiency of processing customer payments and to enhance control over those payments?
Answer
  • CRM
  • Lockboxes
  • Aging accounts receivable
  • EDI

Question 39

Question
For good internal control, who should approve credit memos?
Answer
  • Credit manager
  • Sales manager
  • Billing manager
  • Controller

Question 40

Question
For good internal control over customer remittances, the mailroom clerk should separate the checks from the remittance advices and send the customer payments to which department?
Answer
  • Billing
  • Accounts receivable
  • Cashier
  • Sales

Question 41

Question
What are the 6 interrelated components of an AIS system?
Answer
  • people
  • procedures and instructions
  • data
  • software
  • information technology infrastructure
  • internal controls
  • accounts receivable
  • database management

Question 42

Question
Which of the following are characteristics of useful information?
Answer
  • relevant
  • timely
  • inexpensive
  • simple

Question 43

Question
Which of the following activities are part of the expenditure cycle?
Answer
  • Purchase raw materials
  • Payoff mortgage on factory
  • Establish a $10,000 credit limit for XYZ company
  • Pay for raw materials

Question 44

Question
Which of the following activities are part of the financing cycle?
Answer
  • Hire a new assistant controller
  • Payoff mortgage on factory
  • Draw on line-of-credit
  • Pay utility bills

Question 45

Question
Which of the following are part of the human resources/payroll cycle?
Answer
  • Hire a new assistant controller
  • Decide how many units to make next month
  • Sell concert tickets
  • Record factory employee timecards

Question 46

Question
Which of the following are part of the revenue cycle?
Answer
  • Pay federal payroll taxes
  • Sell concert tickets
  • Decide how many units to make next month
  • Collect payments on customer accounts

Question 47

Question
Which of the 7 characteristics of information does the following situation represent? An accounts receivable aging report used in credit granting decisions. [blank_start]Relevant[blank_end].
Answer
  • Relevant
  • Reliable
  • Complete
  • Timely
  • Understandable
  • Verifiable
  • Accessible

Question 48

Question
Which of the 7 characteristics of information does the following situation represent? A report checked by 3 different people for accuracy. [blank_start]Reliable[blank_end].
Answer
  • Reliable
  • Relevant
  • Complete
  • Timely
  • Understandable
  • Verifiable
  • Accessible

Question 49

Question
Which of the 7 characteristics of information does the following situation represent? An accounts receivable aging report that included all customer accounts. [blank_start]Complete[blank_end].
Answer
  • Complete
  • Relevant
  • Reliable
  • Timely
  • Understandable
  • Verifiable
  • Accessible

Question 50

Question
Which of the 7 characteristics of information does the following situation represent? An accounts receivable aging report was received before the credit manager had to make a decision whether to extend customer credit. [blank_start]Timely[blank_end].
Answer
  • Timely
  • Relevant
  • Reliable
  • Complete
  • Understandable
  • Verifiable
  • Accessible

Question 51

Question
Which of the 7 characteristics of information does the following situation represent? The report was carefully designed so that the data contained on the report became information to the reader. [blank_start]Understandable[blank_end].
Answer
  • Understandable
  • Relevant
  • Reliable
  • Complete
  • Timely
  • Verifiable
  • Accessible

Question 52

Question
Which of the 7 characteristics of information does the following situation represent? The data on a report was checked by two clerks working independently. [blank_start]Verifiable[blank_end].
Answer
  • Verifiable
  • Relevant
  • Reliable
  • Complete
  • Timely
  • Understandable
  • Accessible

Question 53

Question
Which of the 7 characteristics of information does the following situation represent? The manager was working one weekend and needed to find some information about production requests for a certain customer. He was able to find the report on the company’s network. [blank_start]Accessible[blank_end].
Answer
  • Accessible
  • Relevant
  • Reliable
  • Complete
  • Timely
  • Understandable
  • Verifiable
Show full summary Hide full summary

Want to create your own Quizzes for free with GoConqr? Learn more.

Similar

CPA Exam Topics and breakdown
joemontin
CPA Exam Flashcards
joemontin
CPA Exam Sample Questions Pt. 1
nedtuohy
Accounting Definitions
Tess Morris
Accounting I - Objective 2 Keller
Kathleen Keller
Exam Bank 2
Valek
Specific Order Costing
Natalie Gray
COSTING SYSTMES
Francia o
Glossary of Accounting Terms
racheloucks
Unit 4 The Accounting Cycle
a.j.hemphill
Chapter One: Introduction to Accounting
charlotte.power9
Browse Library