ACCT 3324: AIS - Exam 1 Study

Descripción

Ch 1, 2, 4, & 12
Justin Herrin
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Justin Herrin
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Resumen del Recurso

Pregunta 1

Pregunta
Data differ from information in which way?
Respuesta
  • 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.

Pregunta 2

Pregunta
Which of the following is not a characteristic that makes information useful?
Respuesta
  • It is reliable.
  • It is timely.
  • It is inexpensive.
  • It is relevant.

Pregunta 3

Pregunta
Which of the following is a primary activity in the value chain?
Respuesta
  • Purchasing
  • Accounting
  • Post-sales service
  • Human resource management

Pregunta 4

Pregunta
Which transaction cycle includes interactions between an organization and its suppliers?
Respuesta
  • Revenue cycle
  • Expenditure
  • Human resources/payroll cycle
  • General ledger and reporting system

Pregunta 5

Pregunta
Which of the following is not a means by which information improves decision making?
Respuesta
  • Increases information overload
  • Reduces uncertainty
  • Provides feedback about the effectiveness of prior decisions
  • Identifies situations requiring management action

Pregunta 6

Pregunta
In the value chain concept, upgrading IT is considered what kind of activity?
Respuesta
  • Primary activity
  • Support activity
  • Service activity
  • Structured activity

Pregunta 7

Pregunta
In which cycle does a company ship goods to customers?
Respuesta
  • Production cycle
  • Financing cycle
  • Revenue cycle
  • Expenditure cycle

Pregunta 8

Pregunta
Which of the following is a function of an AIS?
Respuesta
  • Reducing the need to identify a strategy and strategic position
  • Transforming data into useful information
  • Allocating organizational resources
  • Automating all decision making

Pregunta 9

Pregunta
A firm, its suppliers, and its customers collectively form which of the following?
Respuesta
  • Supply chain
  • Value chain
  • ERP system
  • AIS

Pregunta 10

Pregunta
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?
Respuesta
  • Paying vendors
  • Acquiring inventory
  • Selling merchandise
  • Paying employees

Pregunta 11

Pregunta
Which of the following is not a step in the data processing cycle?
Respuesta
  • Data collection
  • Data input
  • Data storage
  • Data processing

Pregunta 12

Pregunta
All of the information (e.g., name, GPA, major, etc.) about a particular student is stored in the same _______________.
Respuesta
  • file
  • record
  • attribute
  • field

Pregunta 13

Pregunta
Which of the following would contain the total value of all inventory owned by an organization?
Respuesta
  • Source document
  • General ledger
  • Cash budget

Pregunta 14

Pregunta
Which of the following is most likely to be a general ledger control account?
Respuesta
  • Accounts receivable
  • Petty cash
  • Prepaid rent
  • Retained earnings

Pregunta 15

Pregunta
Which of the following documents is most likely to be used in the expenditure cycle?
Respuesta
  • Sales order
  • Credit memo
  • Receiving report
  • Job time ticket

Pregunta 16

Pregunta
Which of the following is least likely to be a specialized journal?
Respuesta
  • Sales journal
  • Cash receipts journal
  • Prepaid insurance journal
  • Cash disbursements journal

Pregunta 17

Pregunta
How does the chart of accounts list general ledger accounts?
Respuesta
  • Alphabetical order
  • Chronological order
  • Size order
  • The order in which they appear in financial statements

Pregunta 18

Pregunta
Which of the following is not an advantage of an ERP system?
Respuesta
  • Better access control
  • Standardization of procedures and reports
  • Improved monitoring capabilities
  • Simplicity and reduced costs

Pregunta 19

Pregunta
Records of company data sent to an external party and then returned to the system as input are called _________.
Respuesta
  • Turnaround documents
  • Source data automation documents
  • Source documents
  • External input documents

Pregunta 20

Pregunta
Recording and processing information about a transaction at the time it takes place is referred to as which of the following?
Respuesta
  • Batch processing
  • Online, real-time processing
  • Captured transaction processing
  • Chart of accounts processing

Pregunta 21

Pregunta
The relational data model portrays data as being stored in __________.
Respuesta
  • hierarchies
  • tables
  • objects
  • files

Pregunta 22

Pregunta
How a user conceptually organizes and understands data is referred to as the __________.
Respuesta
  • physical view
  • logical view
  • data model view
  • data organization view

Pregunta 23

Pregunta
What is each row in a relational database table called?
Respuesta
  • Relation
  • Attribute
  • Anomaly
  • Tuple

Pregunta 24

Pregunta
Which of the following is an individual user’s view of the database?
Respuesta
  • Conceptual-level schema
  • External-level schema
  • Internal-level schema
  • Logical-level schema

Pregunta 25

Pregunta
Which of the following would managers most likely use to retrieve information about sales during the month of October?
Respuesta
  • DML
  • DSL
  • DDL
  • DQL

Pregunta 26

Pregunta
Which of the following attributes would most likely be a primary key?
Respuesta
  • Supplier name
  • Supplier number
  • Supplier zip code
  • Supplier account balance

Pregunta 27

Pregunta
Which of the following is a software program that runs a database system?
Respuesta
  • DQL
  • DBMS
  • DML
  • DDL

Pregunta 28

Pregunta
The constraint that all primary keys must have non-null data values is referred to as which of the following?
Respuesta
  • Referential integrity rule
  • Entity integrity rule
  • Normalization rule
  • Relational data model rule

Pregunta 29

Pregunta
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?
Respuesta
  • Referential integrity rule
  • Entity integrity rule
  • Foreign key value rule
  • Null value rule

Pregunta 30

Pregunta
Which of the following attributes in the Cash Receipts table (representing payments received from customers) would most likely be a foreign key?
Respuesta
  • Cash receipt number
  • Customer check number
  • Customer number
  • Cash receipt date

Pregunta 31

Pregunta
Which activity is part of the sales order entry process?
Respuesta
  • Setting customer credit limits
  • Preparing a bill of lading
  • Checking customer credit
  • Approving sales returns

Pregunta 32

Pregunta
Which document often accompanies merchandise shipped to a customer?
Respuesta
  • Picking ticket
  • Packing slip
  • Credit memo
  • Sales order

Pregunta 33

Pregunta
Which method is most likely used when a company offers customers discounts for prompt payment?
Respuesta
  • Open-invoice method
  • Balance-forward method
  • Accounts receivable aging method
  • Cycle billing method

Pregunta 34

Pregunta
Which of the following techniques is the most efficient way to process customer payments and update accounts receivable?
Respuesta
  • EFT
  • UPIC
  • FEDI
  • ACH

Pregunta 35

Pregunta
Which of the following revenue cycle activities can potentially be eliminated by technology?
Respuesta
  • Sales order entry
  • Shipping
  • Billing
  • Cash collections

Pregunta 36

Pregunta
The integrated database underlying an ERP system results in which of the following general threats to the revenue cycle?
Respuesta
  • Inaccurate or invalid master data
  • Unauthorized disclosure of sensitive information
  • Loss or destruction of data
  • All of the above

Pregunta 37

Pregunta
Which document is used to authorize the release of merchandise from the inventory control (warehouse) to shipping?
Respuesta
  • Picking ticket
  • Packing slip
  • Shipping order
  • Sales invoice

Pregunta 38

Pregunta
Which of the following provides a means to both improve the efficiency of processing customer payments and to enhance control over those payments?
Respuesta
  • CRM
  • Lockboxes
  • Aging accounts receivable
  • EDI

Pregunta 39

Pregunta
For good internal control, who should approve credit memos?
Respuesta
  • Credit manager
  • Sales manager
  • Billing manager
  • Controller

Pregunta 40

Pregunta
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?
Respuesta
  • Billing
  • Accounts receivable
  • Cashier
  • Sales

Pregunta 41

Pregunta
What are the 6 interrelated components of an AIS system?
Respuesta
  • people
  • procedures and instructions
  • data
  • software
  • information technology infrastructure
  • internal controls
  • accounts receivable
  • database management

Pregunta 42

Pregunta
Which of the following are characteristics of useful information?
Respuesta
  • relevant
  • timely
  • inexpensive
  • simple

Pregunta 43

Pregunta
Which of the following activities are part of the expenditure cycle?
Respuesta
  • Purchase raw materials
  • Payoff mortgage on factory
  • Establish a $10,000 credit limit for XYZ company
  • Pay for raw materials

Pregunta 44

Pregunta
Which of the following activities are part of the financing cycle?
Respuesta
  • Hire a new assistant controller
  • Payoff mortgage on factory
  • Draw on line-of-credit
  • Pay utility bills

Pregunta 45

Pregunta
Which of the following are part of the human resources/payroll cycle?
Respuesta
  • Hire a new assistant controller
  • Decide how many units to make next month
  • Sell concert tickets
  • Record factory employee timecards

Pregunta 46

Pregunta
Which of the following are part of the revenue cycle?
Respuesta
  • Pay federal payroll taxes
  • Sell concert tickets
  • Decide how many units to make next month
  • Collect payments on customer accounts

Pregunta 47

Pregunta
Which of the 7 characteristics of information does the following situation represent? An accounts receivable aging report used in credit granting decisions. [blank_start]Relevant[blank_end].
Respuesta
  • Relevant
  • Reliable
  • Complete
  • Timely
  • Understandable
  • Verifiable
  • Accessible

Pregunta 48

Pregunta
Which of the 7 characteristics of information does the following situation represent? A report checked by 3 different people for accuracy. [blank_start]Reliable[blank_end].
Respuesta
  • Reliable
  • Relevant
  • Complete
  • Timely
  • Understandable
  • Verifiable
  • Accessible

Pregunta 49

Pregunta
Which of the 7 characteristics of information does the following situation represent? An accounts receivable aging report that included all customer accounts. [blank_start]Complete[blank_end].
Respuesta
  • Complete
  • Relevant
  • Reliable
  • Timely
  • Understandable
  • Verifiable
  • Accessible

Pregunta 50

Pregunta
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. [blank_start]Timely[blank_end].
Respuesta
  • Timely
  • Relevant
  • Reliable
  • Complete
  • Understandable
  • Verifiable
  • Accessible

Pregunta 51

Pregunta
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. [blank_start]Understandable[blank_end].
Respuesta
  • Understandable
  • Relevant
  • Reliable
  • Complete
  • Timely
  • Verifiable
  • Accessible

Pregunta 52

Pregunta
Which of the 7 characteristics of information does the following situation represent? The data on a report was checked by two clerks working independently. [blank_start]Verifiable[blank_end].
Respuesta
  • Verifiable
  • Relevant
  • Reliable
  • Complete
  • Timely
  • Understandable
  • Accessible

Pregunta 53

Pregunta
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. [blank_start]Accessible[blank_end].
Respuesta
  • Accessible
  • Relevant
  • Reliable
  • Complete
  • Timely
  • Understandable
  • Verifiable
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