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Accounting Information Systems Vernon Richardson 2nd Edition - Test Bank
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True / False Answers 1. Conversion labor costs become part of cost of goods sold. Answer: True Chapter 07 Conversion Processes Answer Key AACSB: Analytical Thinking AICPA BB: Leveraging Technology AICPA FN: Leveraging Technology Blooms: Remember Difficulty: 1 Easy Learning Objective: 07-01 Des...

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  • August 18, 2023
  • 335
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • accounting test bank
  • all chapters included
  • accounting information systems vernon richardson 2

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Chapter 1
Accounting Information Systems: An Introduction
Answer Key

True / False Questions
1. Accounting and Finance is a primary activity in the value chain.

Answer: FALSE
AACSB: Reflective Thinking
AICPA BB: Industry
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Describe how business processes affect the firm’s value chain.
Topic: The Value Chain and Accounting Information Systems




2. Accounting Information Systems at this date are all computerized.

Answer: FALSE
AACSB: Reflective Thinking
AICPA BB: Industry
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Distinguish between data, information and an information system.
Topic: Data versus Information


3. Business value includes all those items, events and interactions that determine the financial health and
well-being of the firm.

Answer: TRUE
AACSB: Reflective Thinking
AICPA BB: Industry
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Describe how business processes affect the firm’s value chain.
Topic: The Value Chain and Accounting Information Systems




4. The Certified Information Technology Professional (CITP) is a professional designation for those with a
broad range of technology knowledge and does not require a CPA.

Answer: FALSE
AACSB: Reflective Thinking
AICPA BB: Industry
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish the roles of accountants in providing information and explain certifications related to accounting information
systems
Topic: Role of Accountants in Accounting Information Systems




© 2018 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

,5. The Certified Information Systems Auditor (CISA) is a professional designation generally sought by those
performing IT audits.

Answer: TRUE
AACSB: Reflective Thinking
AICPA BB: Industry
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish the roles of accountants in providing information and explain certifications related to accounting information
systems
Topic: Role of Accountants in Accounting Information Systems




© 2018 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

,6. Information is defined as being data organized in a meaningful way that is useful to the user.

Answer: TRUE
AACSB: Reflective Thinking
AICPA BB: Industry
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Distinguish between data, information and an information system.
Topic: Data versus Information




© 2018 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

, 7. Data is defined as being information organized in a meaningful way that is useful to the user.

Answer: FALSE
AACSB: Reflective Thinking
AICPA BB: Industry
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Distinguish between data, information and an information system.
Topic: Data versus Information




© 2018 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner.
This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

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