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Trang 169 Free Test Bank for Accounting Information Systems 13th Edition
by Romney Multiple Choice Questions - Page 1
In which transaction cycle would information for hiring employees
be most likely to pass between internal and external accounting information systems?
1 A) the revenue cycle
2 B) the expenditure cycle
3 C) the human resources / payroll cycle
4 D) the financing cycle
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?
1 A) relevant
2 B) reliable
3 C) complete
4 D) timely
5 E) understandable
6 F) verifiable
7 G) accessible
Identify the piece of information below that is typically needed to acquire inventory
1 A) job descriptions
2 B) vendor performance
3 C) market coverage
4 D) capacity needs
Information that does not omit important aspects of the underlying events or activities that it measures is
Trang 21 A) complete.
2 B) accessible
3 C) relevant
4 D) timely
Identify the party below that is not internal to the firm
1 A) customer
2 B) management
3 C) employees
4 D) CEO
The value of information can best be determined by
1 A) its usefulness to decision makers
2 B) its relevance to decision makers
3 C) the benefits associated with obtaining the information minus the cost of producing it
4 D) the extent to which it optimizes the value chain
information reduces uncertainty, improves decision
makers' ability to make predictions, or confirms expectations
1 A) Timely
2 B) Reliable
3 C) Relevant
4 D) Complete
Inventory information is provided in real time by a firm's accounting information system The accuracy of this information is
questionable, however, since the production manager often reports stock outs of components that the system indicates are in stock Which of the following characteristics of useful information is absent
in the situation described above?
1 A) relevant
2 B) reliable
3 C) complete
4 D) timely
Trang 35 E) understandable
6 F) verifiable
7 G) accessible
Which of the following statements below shows the contrast
between data and information?
1 A) Data is the output of an AIS
2 B) Information is the primary output of an AIS
3 C) Data is more useful in decision making than information
4 D) Data and information are the same
Information is when two knowledgeable people
independently produce the same information
1 A) verifiable
2 B) relevant
3 C) reliable
4 D) complete
Information that is free from error or bias and accurately represents the events or activities of the organization is
1 A) relevant
2 B) reliable
3 C) verifiable
4 D) timely
In which transaction cycle would information for paying interest be most likely to pass between internal and external accounting
information systems?
1 A) the revenue cycle
2 B) the expenditure cycle
3 C) the human resources / payroll cycle
4 D) the financing cycle
Who of the following is not a stakeholder with whom an accounting information system typically communicates directly?
Trang 41 A) Wall Street industry analyst
2 B) venture capitalist
3 C) company that supplies raw materials
4 D) company that purchases finished goods for resale to consumers
In which transaction cycle would information for borrowing money
be most likely to pass between internal and external accounting information systems?
1 A) the revenue cycle
2 B) the expenditure cycle
3 C) the human resources / payroll cycle
4 D) the financing cycle
How can query languages be used to help make better decisions?
1 A) They can suggest a course of action
2 B) They can gather relevant data for decision making
3 C) They can help the decision maker to interpret results
4 D) They can model choose among alternative courses of action
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
1 A) relevancy
2 B) timeliness
3 C) understandability
4 D) reliability
Which of the following tradeoffs between characteristics of useful information is least objectionable?
1 A) incomplete information received on a timely basis
2 B) irrelevant information received in an understandable format
3 C) unreliable information easily accessible
Trang 54 D) verifiable information received in unreadable format
Identify the piece of information below that is typically needed to hire and train employees
1 A) job descriptions
2 B) vendor performance
3 C) market coverage
4 D) capacity needs
In which transaction cycle would information for inventory
purchases be most likely to pass between internal and external accounting information systems?
1 A) the revenue cycle
2 B) the expenditure cycle
3 C) the human resources / payroll cycle
4 D) the financing cycle
An accounting information system (AIS) processes to provide users with
1 A) data; information
2 B) data; transactions
3 C) information; data
4 D) data; benefits
Identify the piece of information below that is typically needed to acquire a building
1 A) job descriptions
2 B) vendor performance
3 C) market coverage
4 D) capacity needs
What is a key decision that needs to be made with regards to selling merchandise?
1 A) which credit cards to accept
Trang 62 B) which employees to hire
3 C) which public accounting firm to employ
4 D) how much capital to acquire
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?
1 A) name of the employee who completed the sale
2 B) daily sales quota
3 C) product sold
4 D) date
What is a key decision that needs to be made with regards to
acquiring equipment?
1 A) the location
2 B) pro forma income statement
3 C) how much capital to acquire
4 D) job descriptions
One group that relies on both the adequate collection and
transformation of data for decision-making purposes for an
organization is
1 A) management
2 B) interested outsiders
3 C) competitors
4 D) the government
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?
1 A) relevant
2 B) reliable
3 C) complete
4 D) timely
Trang 75 E) understandable
6 F) verifiable
7 G) accessible
Information is best described as
1 A) raw facts about transactions
2 B) data that has been organized and processed so that it is meaningful to the user
3 C) facts that are useful when processed in a timely manner
4 D) the same thing as data
In which transaction cycle would information for paying employees
be most likely to pass between internal and external accounting information systems?
1 A) the revenue cycle
2 B) the expenditure cycle
3 C) the human resources / payroll cycle
4 D) the financing cycle
Identify the party below that is not external to the firm
1 A) customer
2 B) vendor
3 C) government agencies
4 D) CEO
Before a firm can identify the information needed to effectively manage a process, the firm must
1 A) understand the process
2 B) hire programmers
3 C) purchase computers and/or workstations
4 D) obtain internet access
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
Trang 8the company's products Although Baggins current Return on
Investment (ROI) is 15%, the product innovation is expected to generate ROI of only 12% As a result, the employee fails to follow
up As a result, awarding bonuses to employees based on ROI resulted in
1 A) goal conflict
2 B) information overload
3 C) goal congruence
4 D) decreased value of information
What is a key decision that needs to be made with regards to
acquiring inventory?
1 A) which credit cards to accept
2 B) which employees to hire
3 C) which vendors to use
4 D) how much capital to acquire
In which transaction cycle would customer sales transaction
information be most likely to pass between internal and external accounting information systems?
1 A) the revenue cycle
2 B) the expenditure cycle
3 C) the human resources / payroll cycle
4 D) the financing cycle
Paid time-off policies, job descriptions, and procedures manuals are examples of information needed to support key decisions in what business process?
1 A) hire and train employees
2 B) acquire inventory
3 C) sell merchandise
4 D) collect payment from customers
Trang 969 Free Test Bank for Accounting Information Systems 13th Edition by Romney Multiple Choice Questions - Page 2
The primary objective of accounting is to
1 A) implement strong internal controls
2 B) provide useful information to decision makers
3 C) prepare financial statements
4 D) ensure the profitability of an organization
The process of creating value for customers is the result of nine activities that form a
1 A) value chain
2 B) capitalist operation
3 C) profitable business
4 D) information system
The is not a transaction cycle
1 A) general ledger and reporting cycle
2 B) expenditure cycle
3 C) revenue cycle
4 D) human resources cycle
An AIS that makes information more easily accessible and more widely available is likely to increase pressure for
1 A) centralization and defined procedures
2 B) centralization and autonomy
3 C) decentralization and defined procedures
4 D) decentralization and autonomy
Groups of related business activities such as the acquisition of merchandise and payment of vendors are called
1 A) transaction cycles
2 B) economic cycles
Trang 103 C) business events.
4 D) transactions
A good example of how an AIS is used to share knowledge within
an organization is
1 A) the use of a corporate database to help staff identify the relevant experts who can help with a particular client
2 B) the use of tablets to access a network for messaging worldwide
3 C) the monitoring of production equipment to watch for defects
4 D) the use of point-of-sale data to determine hot-selling items
Identify the false statement below
1 A) Retail stores do not have a production cycle
2 B) Financial institutions have installment-loan cycles
3 C) Every organization should implement every transaction cycle module
4 D) A service company does not have an inventory system
When the AIS provides information in a timely and accurate
manner, it stands as an example of
1 A) improved decision making
2 B) improving the quality and reducing the costs of products or services
3 C) improving efficiency
4 D) all of the above
The transaction cycle that includes the events of hiring employees and paying them is known as the
1 A) revenue cycle
2 B) expenditure cycle
3 C) human resources cycle
4 D) financing cycle
Arranging delivery of products to customers constitutes
in value chain analysis
1 A) shipping
2 B) inbound logistics
Trang 113 C) outbound logistics
4 D) delivery
Paying state payroll taxes is part of which transaction cycle?
1 A) human resources/payroll
2 B) expenditure
3 C) financing
4 D) revenue
Which of the following is a primary activity in the value chain?
1 A) infrastructure
2 B) technology
3 C) purchasing
4 D) marketing and sales
A change in the AIS that makes information more easily accessible and widely available within an organization is most likely to first influence the
1 A) organizational culture
2 B) customer base
3 C) external financial statement users
4 D) production activity
Identify how firms use predictive analysis
1 A) to provide an educated guess regarding what is expected to occur in the near future
2 B) to engage in data warehousing
3 C) to engage in a low-cost strategy
4 D) to design the most effective accounting information system
Accounting information plays major roles in managerial decision making by
1 A) identifying situations requiring management action
2 B) reducing uncertainty
3 C) providing a basis for choosing among alternative actions
Trang 124 D) all of the above
are examples of activities that constitute inbound
logistics
1 A) Activities that transform inputs into final products or services
2 B) Activities that consist of receiving, storing, and distributing the materials used as inputs by the organization to create goods and/or services it sells
3 C) Activities that provide post-sale support to customers
4 D) Activities that help customers to buy the organization's products or services
Transaction cycles can be summarized on a high level as "give-get" transactions An example of "give-get" in the revenue cycle would
be
1 A) give cash, get goods
2 B) give goods, get cash
3 C) give cash, get labor
4 D) give cash, get cash
The value chain concept is composed of two types of activities known as
1 A) primary and support
2 B) primary and secondary
3 C) support and value
4 D) technology and support
An AIS provides value by
1 A) improving products or services through information that increases quality and reduces costs
2 B) providing timely and reliable information to decision makers
3 C) creating new products
4 D) both A and B
The transaction cycle approach yields efficiencies when processing
of a large number of transactions because
Trang 131 A) a large number of transactions within a given cycle can be categorized into
a relatively small number of distinct types
2 B) transaction cycles are easier to computerize
3 C) the transaction cycle approach represents the natural order of business
4 D) transaction cycles are easy to understand
Which of the following is not one of the components of an AIS?
1 A) internal controls and security measures
2 B) people
3 C) procedures and instructions
4 D) hardware
In Chapter 1, Figure 1-4 shows the factors that influence the design
of AIS The diagram shows a bi-directional arrow between the
organizational culture and the AIS The reason for this two-way interchange between organizational culture and AIS is
1 A) that the AIS should not influence the values of the organizational culture
2 B) because the organization's culture influences the AIS, and likewise the AIS influences the organization's culture by controlling the flow of information within the organization
3 C) due to the transfer of managers between the two corporate elements
4 D) the AIS impacts the organization's key strategies
Many modern accounting software packages offer separate
transaction cycle modules What is the reason for this?
1 A) Every organization does not need to implement all of the available
transaction cycle modules
2 B) Most businesses do not need the revenue cycle module as part of their AIS
3 C) The nature of a given transaction cycle is the same irrespective of the type
of organization
4 D) A properly designed AIS does not use the concept of separate business transaction cycles to process transactions
Identify a recent technological advance that provides an opportunity
to gain a competitive advantage