Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage ;complete study solution guide.
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Course
Accounting Information Systems
Institution
Accounting Information Systems
Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage ;complete study solution guide.Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage ;complete study solution guide.Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage ;...
Accounting Information System 1st Edition rl rl rl rl
Chapter 01: Accounting as Information
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1) Accounting communicates to stakeholders rl rl rl
A) minimally required public financial data. rl rl rl rl
B) the financial outcomes of operating, investing, and financing activities.
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C) the sales strategy for the operating, marketing, and sales activities.
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D) black and white details about the economics of operating
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activities.Answer: B
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Diff: 1 rl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
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ofinformation.
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Section Reference: Why is Accounting Information
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Important?AACSB: Communication
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Bloom's:
ComprehensionAICPA:
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AC: Reporting
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2) Accounting communicates the financial outcomes of a business's activities for
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A) operating.
B) investing.
C) financing.
D) All of these answer choices are
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correct.Answer: D
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Diff: 1 rl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
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ofinformation.
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Section Reference: Why is Accounting Information
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Important?AACSB: Communication
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Bloom's:
ComprehensionAICPA:
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AC: Reporting
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3) In what way do management teams use accounting data?
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A) Management teams use accounting data to make business decisions. rl rl rl rl rl rl rl rl
B) Management teams use accounting data to make and execute plans. rl rl rl rl rl rl rl rl rl
C) Management teams use economic and accounting data together to make decisions. rl rl rl rl rl rl rl rl rl rl
D) All of these answer choices are
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correct.Answer: D
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Diff: 1 rl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
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ofinformation.
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Section Reference: Why is Accounting Information
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Important?AACSB: Analytic
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Bloom's: Comprehension r l
AICPA: AC: Risk Assessment, Analysis, and Management
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1
,4) Which statement is TRUE? rl rl rl
A) Accounting consists of rigid black and white rules. rl rl rl rl rl rl rl
B) Accountants crunch numbers, not make decisions. rl rl rl rl rl
C) Accounting helps support a prosperous society. rl rl rl rl rl
D) Accountants focus on debits and credits, not business rl rl rl rl rl rl rl
activities.Answer: C
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Diff: 1 rl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
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ofinformation.
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Section Reference: Why is Accounting Information
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Important?AACSB: Analytic
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Bloom's:
ComprehensionAICPA:
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N/A
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5) Which of the following is NOT a component of an information system?
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A) Hardware
B) Software
C) Input
D) Network rl
Answer: C rl
Diff: 1
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Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
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ofinformation.
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Section Reference: Why is Accounting Information
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Important?AACSB: Analytic
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Bloom's: Knowledge r l
AICPA: AC: Systems and Process Management
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6) Input to an information system consists of
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A) raw and unorganized data.
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B) hardware and software. rl rl
C) reported information. rl
D) processed data. rl
Answer: A r l
Diff: 1 rl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
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ofinformation.
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Section Reference: Why is Accounting Information
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Important?AACSB: Analytic
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Bloom's: Knowledge r l
AICPA: AC: Systems and Process Management
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7) Which of the following is a definition of output from an information system?
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A) Output is raw and unorganized data. rl rl rl rl rl
B) Output is information produced by processing data.
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C) Output is database facts and figures. rl rl rl rl rl
D) Output is information collected from rl rl rl rl
2
, users.Answer: B
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3
, Diff: 1 rl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
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ofinformation.
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Section Reference: Why is Accounting Information
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Important?AACSB: Analytic
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Bloom's: Comprehension r l
AICPA: AC: Systems and Process Management
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8) Which statement concerning data is TRUE?
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A) Data is useless to a business until transformed into information.
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B) Data is the output from an information system.
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C) Data is organized into understandable formats.
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D) Data is processed before being input into the information
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system.Answer: A
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Diff: 1 rl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
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ofinformation.
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Section Reference: Why is Accounting Information
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Important?AACSB: Analytic
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Bloom's: Comprehension r l
AICPA: AC: Systems and Process Management
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9) Which of the following activities would NOT result in a transaction in an
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accountinginformation system?
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A) Sell goods to a customer on account
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B) Purchase supplies on credit rl rl rl
C) Prepay for six months of insurance rl rl rl rl rl
D) Receive a customer rl rl
orderAnswer: D
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Diff: 2 rl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
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ofinformation.
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Section Reference: Why is Accounting Information
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Important?AACSB: Analytic
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Bloom's: Application r l
AICPA: AC: Systems and Process Management
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4
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