Justin Herrin
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Ch 1, 2, 4, & 12

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Justin Herrin
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ACCT 3324: AIS - Exam 1 Study

ACCT 3324: AIS - Exam 1 Study

Question 1 of 53

1

Data differ from information in which way?

Select one of the following:

  • Data are output and information is input.

  • Information is output and data are input.

  • Data are meaningful bits of information.

  • Press enter after select an option to check the answer

    There is no difference.

Explanation

Question 2 of 53

1

Which of the following is not a characteristic that makes information useful?

Select one of the following:

  • It is reliable.

  • It is timely.

  • It is inexpensive.

  • It is relevant.

Explanation

Question 3 of 53

1

Which of the following is a primary activity in the value chain?

Select one of the following:

  • Purchasing

  • Accounting

  • Post-sales service

  • Human resource management

Explanation

Question 4 of 53

1

Which transaction cycle includes interactions between an organization and its suppliers?

Select one of the following:

  • Revenue cycle

  • Expenditure

  • Human resources/payroll cycle

  • General ledger and reporting system

Explanation

Question 5 of 53

1

Which of the following is not a means by which information improves decision making?

Select one of the following:

  • Increases information overload

  • Reduces uncertainty

  • Provides feedback about the effectiveness of prior decisions

  • Identifies situations requiring management action

Explanation

Question 6 of 53

1

In the value chain concept, upgrading IT is considered what kind of activity?

Select one of the following:

  • Primary activity

  • Support activity

  • Service activity

  • Structured activity

Explanation

Question 7 of 53

1

In which cycle does a company ship goods to customers?

Select one of the following:

  • Production cycle

  • Financing cycle

  • Revenue cycle

  • Expenditure cycle

Explanation

Question 8 of 53

1

Which of the following is a function of an AIS?

Select one of the following:

  • Reducing the need to identify a strategy and strategic position

  • Transforming data into useful information

  • Allocating organizational resources

  • Automating all decision making

Explanation

Question 9 of 53

1

A firm, its suppliers, and its customers collectively form which of the following?

Select one of the following:

  • Supply chain

  • Value chain

  • ERP system

  • AIS

Explanation

Question 10 of 53

1

A report telling how well all approved vendors have performed in the prior 12 months is information that is MOST needed in which business process?

Select one of the following:

  • Paying vendors

  • Acquiring inventory

  • Selling merchandise

  • Paying employees

Explanation

Question 11 of 53

1

Which of the following is not a step in the data processing cycle?

Select one of the following:

  • Data collection

  • Data input

  • Data storage

  • Data processing

Explanation

Question 12 of 53

1

All of the information (e.g., name, GPA, major, etc.) about a particular student is stored in the same _______________.

Select one of the following:

  • file

  • record

  • attribute

  • field

Explanation

Question 13 of 53

1

Which of the following would contain the total value of all inventory owned by an organization?

Select one of the following:

  • Source document

  • General ledger

  • Cash budget

Explanation

Question 14 of 53

1

Which of the following is most likely to be a general ledger control account?

Select one of the following:

  • Accounts receivable

  • Petty cash

  • Prepaid rent

  • Retained earnings

Explanation

Question 15 of 53

1

Which of the following documents is most likely to be used in the expenditure cycle?

Select one of the following:

  • Sales order

  • Credit memo

  • Receiving report

  • Job time ticket

Explanation

Question 16 of 53

1

Which of the following is least likely to be a specialized journal?

Select one of the following:

  • Sales journal

  • Cash receipts journal

  • Prepaid insurance journal

  • Cash disbursements journal

Explanation

Question 17 of 53

1

How does the chart of accounts list general ledger accounts?

Select one of the following:

  • Alphabetical order

  • Chronological order

  • Size order

  • The order in which they appear in financial statements

Explanation

Question 18 of 53

1

Which of the following is not an advantage of an ERP system?

Select one of the following:

  • Better access control

  • Standardization of procedures and reports

  • Improved monitoring capabilities

  • Simplicity and reduced costs

Explanation

Question 19 of 53

1

Records of company data sent to an external party and then returned to the system as input are called _________.

Select one of the following:

  • Turnaround documents

  • Source data automation documents

  • Source documents

  • External input documents

Explanation

Question 20 of 53

1

Recording and processing information about a transaction at the time it takes place is referred to as which of the following?

Select one of the following:

  • Batch processing

  • Online, real-time processing

  • Captured transaction processing

  • Chart of accounts processing

Explanation

Question 21 of 53

1

The relational data model portrays data as being stored in __________.

Select one of the following:

  • hierarchies

  • tables

  • objects

  • files

Explanation

Question 22 of 53

1

How a user conceptually organizes and understands data is referred to as the __________.

Select one of the following:

  • physical view

  • logical view

  • data model view

  • data organization view

Explanation

Question 23 of 53

1

What is each row in a relational database table called?

Select one of the following:

  • Relation

  • Attribute

  • Anomaly

  • Tuple

Explanation

Question 24 of 53

1

Which of the following is an individual user’s view of the database?

Select one of the following:

  • Conceptual-level schema

  • External-level schema

  • Internal-level schema

  • Logical-level schema

Explanation

Question 25 of 53

1

Which of the following would managers most likely use to retrieve information about sales during the month of October?

Select one of the following:

  • DML

  • DSL

  • DDL

  • DQL

Explanation

Question 26 of 53

1

Which of the following attributes would most likely be a primary key?

Select one of the following:

  • Supplier name

  • Supplier number

  • Supplier zip code

  • Supplier account balance

Explanation

Question 27 of 53

1

Which of the following is a software program that runs a database system?

Select one of the following:

  • DQL

  • DBMS

  • DML

  • DDL

Explanation

Question 28 of 53

1

The constraint that all primary keys must have non-null data values is referred to as which of the following?

Select one of the following:

  • Referential integrity rule

  • Entity integrity rule

  • Normalization rule

  • Relational data model rule

Explanation

Question 29 of 53

1

The constraint that all foreign keys must have either null values or the value of a primary key in another table is referred to as which of the following?

Select one of the following:

  • Referential integrity rule

  • Entity integrity rule

  • Foreign key value rule

  • Null value rule

Explanation

Question 30 of 53

1

Which of the following attributes in the Cash Receipts table (representing payments received from customers) would most likely be a foreign key?

Select one of the following:

  • Cash receipt number

  • Customer check number

  • Customer number

  • Cash receipt date

Explanation

Question 31 of 53

1

Which activity is part of the sales order entry process?

Select one of the following:

  • Setting customer credit limits

  • Preparing a bill of lading

  • Checking customer credit

  • Approving sales returns

Explanation

Question 32 of 53

1

Which document often accompanies merchandise shipped to a customer?

Select one of the following:

  • Picking ticket

  • Packing slip

  • Credit memo

  • Sales order

Explanation

Question 33 of 53

1

Which method is most likely used when a company offers customers discounts for prompt payment?

Select one of the following:

  • Open-invoice method

  • Balance-forward method

  • Accounts receivable aging method

  • Cycle billing method

Explanation

Question 34 of 53

1

Which of the following techniques is the most efficient way to process customer payments and update accounts receivable?

Select one of the following:

  • EFT

  • UPIC

  • FEDI

  • ACH

Explanation

Question 35 of 53

1

Which of the following revenue cycle activities can potentially be eliminated by technology?

Select one of the following:

  • Sales order entry

  • Shipping

  • Billing

  • Cash collections

Explanation

Question 36 of 53

1

The integrated database underlying an ERP system results in which of the following general threats to the revenue cycle?

Select one of the following:

  • Inaccurate or invalid master data

  • Unauthorized disclosure of sensitive information

  • Loss or destruction of data

  • All of the above

Explanation

Question 37 of 53

1

Which document is used to authorize the release of merchandise from the inventory control (warehouse) to shipping?

Select one of the following:

  • Picking ticket

  • Packing slip

  • Shipping order

  • Sales invoice

Explanation

Question 38 of 53

1

Which of the following provides a means to both improve the efficiency of processing customer payments and to enhance control over those payments?

Select one of the following:

  • CRM

  • Lockboxes

  • Aging accounts receivable

  • EDI

Explanation

Question 39 of 53

1

For good internal control, who should approve credit memos?

Select one of the following:

  • Credit manager

  • Sales manager

  • Billing manager

  • Controller

Explanation

Question 40 of 53

1

For good internal control over customer remittances, the mailroom clerk should separate the checks from the remittance advices and send the customer payments to which department?

Select one of the following:

  • Billing

  • Accounts receivable

  • Cashier

  • Sales

Explanation

Question 41 of 53

1

What are the 6 interrelated components of an AIS system?

Select one or more of the following:

  • people

  • procedures and instructions

  • data

  • software

  • information technology infrastructure

  • internal controls

  • accounts receivable

  • database management

Explanation

Question 42 of 53

1

Which of the following are characteristics of useful information?

Select one or more of the following:

  • relevant

  • timely

  • inexpensive

  • simple

Explanation

Question 43 of 53

1

Which of the following activities are part of the expenditure cycle?

Select one or more of the following:

  • Purchase raw materials

  • Payoff mortgage on factory

  • Establish a $10,000 credit limit for XYZ company

  • Pay for raw materials

Explanation

Question 44 of 53

1

Which of the following activities are part of the financing cycle?

Select one or more of the following:

  • Hire a new assistant controller

  • Payoff mortgage on factory

  • Draw on line-of-credit

  • Pay utility bills

Explanation

Question 45 of 53

1

Which of the following are part of the human resources/payroll cycle?

Select one or more of the following:

  • Hire a new assistant controller

  • Decide how many units to make next month

  • Sell concert tickets

  • Record factory employee timecards

Explanation

Question 46 of 53

1

Which of the following are part of the revenue cycle?

Select one or more of the following:

  • Pay federal payroll taxes

  • Sell concert tickets

  • Decide how many units to make next month

  • Collect payments on customer accounts

Explanation

Question 47 of 53

1

Select from the dropdown list to complete the text.

Which of the 7 characteristics of information does the following situation represent? An accounts receivable aging report used in credit granting decisions. ( Relevant, Reliable, Complete, Timely, Understandable, Verifiable, Accessible ).

Explanation

Question 48 of 53

1

Select from the dropdown list to complete the text.

Which of the 7 characteristics of information does the following situation represent? A report checked by 3 different people for accuracy. ( Reliable, Relevant, Complete, Timely, Understandable, Verifiable, Accessible ).

Explanation

Question 49 of 53

1

Select from the dropdown list to complete the text.

Which of the 7 characteristics of information does the following situation represent? An accounts receivable aging report that included all customer accounts. ( Complete, Relevant, Reliable, Timely, Understandable, Verifiable, Accessible ).

Explanation

Question 50 of 53

1

Select from the dropdown list to complete the text.

Which of the 7 characteristics of information does the following situation represent? An accounts receivable aging report was received before the credit manager had to make a decision whether to extend customer credit. ( Timely, Relevant, Reliable, Complete, Understandable, Verifiable, Accessible ).

Explanation

Question 51 of 53

1

Select from the dropdown list to complete the text.

Which of the 7 characteristics of information does the following situation represent? The report was carefully designed so that the data contained on the report became information to the reader. ( Understandable, Relevant, Reliable, Complete, Timely, Verifiable, Accessible ).

Explanation

Question 52 of 53

1

Select from the dropdown list to complete the text.

Which of the 7 characteristics of information does the following situation represent? The data on a report was checked by two clerks working independently. ( Verifiable, Relevant, Reliable, Complete, Timely, Understandable, Accessible ).

Explanation

Question 53 of 53

1

Select from the dropdown list to complete the text.

Which of the 7 characteristics of information does the following situation represent? The manager was working one weekend and needed to find some information about production requests for a certain customer. He was able to find the report on the company’s network. ( Accessible, Relevant, Reliable, Complete, Timely, Understandable, Verifiable ).

Explanation

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