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Chapter 1 quiz 2
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Questions in this quiz (25)
121) Wisconsin Dells, Wisconsin, is a popular tourist destination. During the winter months, the
population dwindles to a meager few, but when summer comes, the size of the town surges.
Hunter Jackson is the town sanitation engineer. When the size of the town surges, so do his
responsibilities. Among them is management of the sewage processing volume.
In an interview with the local paper, Hunter complained that a report on tourist population that
he uses to adjust processing volume refers to data that was not always accurate and it is really
giving him a hard time to make adjustments.
Which of the following characteristics of useful information is absent in the situation described
above?- AA) relevant
- BB) reliable
- CC) complete
- DD) timely
222) A frantic Barney Rubble lost a large sale because he could not access the system to verify the inventory was in stock and ready to be shipped. Which of the following characteristics of useful information is absent in the situation described above?
- AG) accessible
- BF) verifiable
- CE) understandable
- DD) timely
323) Message left on voicemail: "Hi Nikki! Just landed at the airport. How about dinner this evening if you're available. Call me!" Which of the following characteristics of useful information is absent in the situation described above?
- AA) relevant
- BB) reliable
- CC) complete
- DD) timely
424) Chopra, Limited, is an Indian company operating in New York state. It offers stylized,
boutique public relations services to upscale retailers in quaint New England towns. A major
source of revenue is a weekly newsletter that reports on current and projected tourist travel and
spending patterns. Preparation of the newsletter requires study and analysis of weather
conditions, economic activity, and travel costs. It is available at an annual subscription rate of
$299.99. There are currently 190 subscribers. Preparation and distribution of the newsletter costs
$12,000 annually. The value of information to subscribers is- AA) $236.83.
- BB) $44,998.10.
- CC) less than $63.16.
- DD) at least $300.00.
525) Chopra, Limited, is an Indian company operating in New York state. It offers stylized,
boutique public relations services to upscale retailers in quaint New England towns. A major
source of revenue is a weekly newsletter that reports on current and projected tourist travel and
spending patterns. Preparation of the newsletter requires study and analysis of weather
conditions, economic activity, and travel costs. It is available at an annual subscription rate of
$299.99. There are currently 190 subscribers. Preparation and distribution of the newsletter costs $12,000 annually. Chopra has always been able to manage to keep its newsletter operation above their breakeven point. The value of information to Chopra is- AA) $236.83.
- BB) $44,998.10.
- CC) less than $63.16.
- DD) at least $12,000.
626) Baggins Incorporated identifies new product development and product improvement as the top corporate goals. An employee developed an innovation that will correct a shortcoming in one of the company's products. Although Baggins current Return on Investment (ROI) is 12%, the
product innovation is expected to generate ROI of only 10%. As a result, awarding bonuses to
employees based on ROI resulted in- AA) goal conflict.
- BB) information overload.
- CC) goal congruence.
- DD) decreased value of information.
727) Baggins Incorporated identifies new product development and product improvement as the
top corporate goals. An employee developed an innovation that will correct a shortcoming in one
of the company's products. Although Baggins current Return on Investment (ROI) is 10%, the product innovation is expected to generate ROI of 15%. As a result, awarding bonuses to employees based on ROI resulted in- AA) goal conflict.
- BB) information overload.
- CC) goal congruence.
- DD) decreased value of information.
828) Which of the following tradeoffs between characteristics of useful information is least objectionable?
- AA) incomplete information received on a timely basis
- BB) irrelevant information received in an understandable format
- CC) unreliable information easily accessible
- DD) verifiable information received in unreadable format
929) Which of the following is not one of the three basic types of data about a specific sales transaction that should be captured by an Accounting Information System?
- AA) name of the employee who completed the sale
- BB) daily sales quota
- CC) product sold
- DD) date
101) Paid time-off policies, job descriptions, and procedures manuals are examples of information needed to support key decisions in what business process?o
- AA) hire and train employees
- BB) acquire inventory
- CC) sell merchandise
- DD) collect payment from customers
112) Before a firm can identify the information needed to effectively manage a process, the firm must
- AA) hire an outside consultant.
- BB) understand the process.
- CC) purchase computers and/or workstations.
- DD) obtain internet access.
123) Identify the piece of information below that is typically needed to acquire a building.
- AA) job descriptions
- BB) vendor performance
- CC) market coverage
- DD) capacity needs
134) Identify the piece of information below that is typically needed to acquire inventory.
- AA) job descriptions
- BB) vendor performance
- CC) market coverage
- DD) capacity needs
145) Identify the piece of information below that is typically needed to hire and train employees.
- AA) job descriptions
- BB) vendor performance
- CC) market coverage
- DD) capacity needs
156) How can query languages be used to help make better decisions?
- AA) They can suggest a course of action.
- BB) They can gather relevant data for decision making.
- CC) They can help the decision maker to interpret results.
- DD) They can model choose among alternative courses of action.
167) What is a key decision that needs to be made with regards to selling merchandise?
- AA) which banking institution to use
- BB) which employees to hire
- CC) which public accounting firm to employ
- DD) which credit cards to accept
178) What is a key decision that needs to be made with regards to paying vendors for goods and
services?- AA) which credit cards to accept
- BB) which employees to hire
- CC) which vendors to pay
- DD) how much capital to acquire
189) What is a key decision that needs to be made with regards to borrowing money from lenders?
- AA) the location
- BB) pro forma income statement
- CC) how much capital to acquire
- DD) job descriptionsH
1910) One group that relies on both the adequate collection and transformation of data for decision making purposes for an organization .
- AA) management.
- BB) interested outsiders.
- CC) competitors.
- DD) the government.
2011) Who of the following is not a stakeholder with whom an accounting information system typically communicates directly?
- AA) The federal government.
- BB) Venture capitalist.
- CC) Company that supplies raw material.
- DD) Company that purchases finished goods for resale to consumerso
2112) In which transaction cycle would customer sales transaction information be most likely to
pass between internal and external accounting information systems?- AA) the revenue cycle
- BB) the expenditure cycle
- CC) the human resources / payroll cycle
- DD) the financing cyclensumerso
2213) In which transaction cycle would information for inventory purchases be most likely to pass
between internal and external accounting information systems?- AA) the revenue cycle
- BB) the expenditure cycle
- CC) the human resources / payroll cycle
- DD) the financing cycles
2314) In which transaction cycle would information relating to employees benefit be most likely to
pass between internal and external accounting information systems?- AA) the revenue cycle
- BB) the expenditure cycle
- CC) the human resources / payroll cycle
- DD) the financing cyclemerso
2415) In which transaction cycle would information for paying dividends be most likely to pass between internal and external accounting information systems?
- AA) the revenue cycle
- BB) the expenditure cycle
- CC) the human resources / payroll cycle
- DD) the financing cyclecles
2516) In which transaction cycle would information for retiring long-term debt be most likely to pass between internal and external accounting information systems?
- AA) the revenue cycle
- BB) the expenditure cycle
- CC) the human resources / payroll cycle
- DD) the financing cycle
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- AIS - 166 Quiz on Chapter 1 quiz 2, created by Mahmoud Hemood on 15/10/2019.
- Author
- Mahmoud Hemood
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- English
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