Exam (elaborations)
WGU D217 Accounting Information Systems exam review
- Course
- Institution
WGU D217 Accounting Information Systems exam review
[Show more]
Content preview
WGU D217 Accounting Information Systemsexam review
a financial transaction - The primary input to the transaction processing system is
FRS provides information to external users; the MRS provides information to
internal users. - The major difference between the financial reporting system (FRS)
and the management reporting system (MRS) is the
whether the transactions are financial or nonfinancial that directly affect the
processing of financial transactions - The author distinguishes between the
accounting information system and the management information system based
on
the purchase of computer - An example of a financial transactions is
log of customer calls - An example of a nonfinancial transaction is
the conversion cycle - The transaction processing system includes which of the
following
the production of useful information - The goal of data processing is
,WGU D217 Accounting Information Systems
exam review
tax authorities - Which of the following is an external end user?
internal auditing - An appraisal function housed within the organization that
performs a wide range of services for management is
constituents - What factor conceptually distinguishes external auditing and
internal auditing?
cash disbursements - What system is part of the expenditure cycle?
physical and financial - Both the revenue and the expenditure cycle can be viewed
as having two parts. These key parts are
represent relationships between key elements of both manual and computer
systems - System flowcharts do which one of the following?
oval - Which symbol is used to represent a data source or destination of
documents and reports in a system flowchart?
,WGU D217 Accounting Information Systems
exam review
Sales Order Processing - Which accounting application is least suited to batch
processing?
there is a lag between the time when the economic event occurs, and the
financial records are updated. - In contrast to a real-time system, in a batch
processing system
processing takes place when the economic event occurs. - In contrast to a batch
processing system, in a real-time system
block code - The coding scheme most appropriate for a chart of accounts is
a mnemonic code - When a firm wants its coding system to convey meaning
without reference to any other document, it would choose
missing or unrecorded documents can be identified. - The most important
advantage of sequential coding is that
Management Reporting System (MRS) - Li has implemented a new accounting
information system (AIS) to help him manage his construction company. Li uses
, WGU D217 Accounting Information Systems
exam review
the information captured by the system to plan each project, forecasting the
requirements for raw materials and the cash flow expected. Which AIS subsystem
helps Li in planning?
Variance reports - Which information does the management reporting system
(MRS) provide?
The decision maker wastes resources analyzing outdated information. - Useful
information has the following characteristics: relevance, timeliness, accuracy,
completeness, and summarization. What happens if the information is old?
The decision maker receives materially wrong information. - Useful information
has the following characteristics: relevance, timeliness, accuracy, completeness,
and summarization. What happens if the information is inaccurate?
The organization needs to review its credit-granting policies. - Which important
information does external feedback about the level of uncollected customer
accounts indicate to the management information system?
Raw material is moved into work-in process. - What is a type of data source for the
accounting information system (AIS)?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Ellah1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72349 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now