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AIS Exam 1 Chapters 1-4 Questions and Answers Graded A+
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AIS Exam 1 Chapters 1-4 Questions and Answers Graded A+ A set of two or more interrelated components that interact to achieve a goal is a system This results when a subsystem achieves its goals while contributing to the organization's overall goal. goal congruence Facts that are co...

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  • August 3, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ais exam 1 chapters 1 4 questions and answers grad
  • a set of two or more interrelated components that
  • this results when a subsystem achieves its goals w
  • facts that are collected recorded stored and pro

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AIS Exam 1 Chapters 1-4 Questions and
Answers Graded A+
A set of two or more interrelated components that interact to achieve a goal is - answer
a system

This results when a subsystem achieves its goals while contributing to the
organization's overall goal. - answer goal congruence

Facts that are collected, recorded, stored and processed by an information system. -
answer data

Data that have been organized and processes to provide meaning to a user is - answer
information

Humans can absorb and process only so much information. Information _____ occurs
when those limits are passed. - answer overload

An accounting information system (AIS) processes ____ to provide users with _____. -
answer data; information

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 - answer
reliability

An accounting information system must be able to perform which of the following tasks?
- answer Process transaction data, collect transaction data, provide adequate
controls

The primary objective of accounting is to - answer provide useful information to
decision makers

The primary focus of an AIS course, as opposed to other IS courses, is on - answer
understanding how information technology can be used to improve AIS processes

An agreement between two entities to exchange goods or services or any other event
that can be measured in economic terms by an organization is - answer transaction

Groups of related business activities such as the acquisition of merchandise and
payment of vendors are called - answer transaction cycles

, Which of the following is not a transaction cycle? - answer general ledger and
reporting

All transaction cycles feed information directly into the - answer general ledger and
reporting system

A typical source document could be - answer in some paper form and a computer
data entry screen

Certain documents or forms are generated and/or processed with each transaction
cycle. The issuing of a purchase order is part of which transaction cycle? - answer
the expenditure cycle

The general ledger account that corresponds to a subsidiary ledger account is known as
a - answer control account

A listing of general ledger accounts by account number is called the - answer chart
of accounts

Federal Express stated in one of its mission statements that "positive control of each
package will be maintained by utilizing.... electronic tracking and tracing systems." This
is an example of which type of data processing? - answer real-time processing which
features immediate updating as to the location of packages

Name the major transaction cycles - answer Revenue, expenditure, production, HR
Payroll, and financing

What is the purpose of source documents? what controls are embedded in source
documents? Give two examples of source documents? - answer to record data
about business activities. Source documents standardize data collection procedures for
an organization and provide better control and accuracy. Source documents are
generally pre-numbered, which helps to verify that all transactions have been recorded
and there is no missing document; if a document is missing, then which one can be
determined. Proper design of source documents ensures which information to collect,
preprints standard information such as addresses, and provides directions for
completing the form. Examples: INVOICES, TIMECARDS, SALES ORDERS, AND
PURCHASE ORDERS.

What is an audit trail? - answer a means to check the accuracy and validity of
postings to the ledger. The posting references and document numbers help provide the
audit trail. An audit trail exists when company transactions can be traced through the
AIS from where originate to where they end up on the financial statements.

What operational information should an AIS be capable of providing to management? -
answer reports about inventory status, relative profitability of products, percentage of
revenue generated by new products, relative performance of each salesperson, cash

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