Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage with complete solution Grade A+
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Accounting Information Systems
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Accounting Information Systems
Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage with complete solution Grade A+ Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage with complete solution Grade A+ Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage w...
Accounting Information System 1st Edition frl frl frl frl
Chapter 01: Accounting as Information
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1) Accounting communicates to stakeholders frl frl frl
A) minimally required public financial data. frl frl frl frl
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 activities.
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Answer: B frl
Diff: 1 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Communication
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Bloom's: Comprehension frl frl
AICPA: AC: Reporting frl frl
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 correct.
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Answer: D frl
Diff: 1 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Communication
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Bloom's: Comprehension frl frl
AICPA: AC: Reporting frl frl
3) In what way do management teams use accounting data?
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A) Management teams use accounting data to make business decisions. frl frl frl frl frl frl frl frl
B) Management teams use accounting data to make and execute plans. frl frl frl frl frl frl frl frl frl
C) Management teams use economic and accounting data together to make decisions. frl frl frl frl frl frl frl frl frl frl
D) All of these answer choices are correct.
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Answer: D frl
Diff: 1 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Comprehension f r l
AICPA: AC: Risk Assessment, Analysis, and Management
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1
,4) Which statement is TRUE? frl frl frl
A) Accounting consists of rigid black and white rules. frl frl frl frl frl frl frl
B) Accountants crunch numbers, not make decisions. frl frl frl frl frl
C) Accounting helps support a prosperous society. frl frl frl frl frl
D) Accountants focus on debits and credits, not business activities. frl frl frl frl frl frl frl frl frl
Answer: C frl
Diff: 1 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Comprehension frl frl
AICPA: N/A frl
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 frl
Answer: C frl frl
Diff: 1 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Knowledge f 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. frl frl
C) reported information. frl
D) processed data. frl
Answer: A f r l
Diff: 1 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Knowledge f 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. frl frl frl frl frl
B) Output is information produced by processing data.
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C) Output is database facts and figures. frl frl frl frl frl
D) Output is information collected from users.frl frl frl frl frl frl
Answer: B frl
2
,Diff: 1 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Comprehension f 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 system.
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Answer: A frl
Diff: 1 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Comprehension f 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 accounting
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information system? frl
A) Sell goods to a customer on account
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B) Purchase supplies on credit frl frl frl
C) Prepay for six months of insurance frl frl frl frl frl
D) Receive a customer order frl frl frl frl
Answer: D frl
Diff: 2 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Application f r l
AICPA: AC: Systems and Process Management
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3
, 10) Which of the following activities results in a transaction an accounting information system?
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A) Sell goods to a customer frl frl frl frl
B) Submit an order to a vendor frl frl frl frl frl
C) Create estimates for a customer frl frl frl frl
D) Receive a customer order frl frl frl frl
Answer: A frl
Diff: 2 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinfor
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mation.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Application f r l
AICPA: AC: Systems and Process Management
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11) A business model is frl frl frl
A) a company's plan for operations.
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B) a company's plan for making a profit.
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C) a company's plan for identifying customers.
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D) a company's plan for production.
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Answer: B frl
Diff: 1 frl
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Knowledge f r l
AICPA: AC: Systems and Process Management
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12) What kind of business model should an entrepreneurial application developer consider for a
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new smartphone game that will allow users to pay for additional capabilities and/or lives during
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the game?
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A) Franchise
B) Subscription
C) Freemium
D) Peer-to-
peerAnswer: Cfrl frl f
Diff: 2
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Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
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tion.
Section Reference: Why is Accounting Information Important?AACS
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B: Analytic
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Bloom's: Application f r l
AICPA: AC: Systems and Process Management
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4
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