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Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage with complete solution Grade A+ $17.99   Add to cart

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Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage with complete solution Grade A+

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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...

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  • September 13, 2024
  • 756
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Accounting Information Systems
  • Accounting Information Systems
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DREAMS
TEST BANK frl




Accounting Information System 1st Edition frl frl frl frl




Chapter 01: Accounting as Information
frl f r l frl frl




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.
frl frl frl frl frl frl frl frl



C) the sales strategy for the operating, marketing, and sales activities.
frl frl frl frl frl frl frl frl frl



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
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Communication
frl



Bloom's: Comprehension frl frl



AICPA: AC: Reporting frl frl




2) Accounting communicates the financial outcomes of a business's activities for
frl frl frl frl frl frl frl frl frl



A) operating.
B) investing.
C) financing.
D) All of these answer choices are correct.
frl frl frl frl frl frl frl



Answer: D frl



Diff: 1 frl



Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Communication
frl



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
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



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
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



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
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



Bloom's: Knowledge f r l



AICPA: AC: Systems and Process Management
frlfrlf r l frl frl frl frl




6) Input to an information system consists of
frl frl frl frl frl frl



A) raw and unorganized data.
frl frl frl



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
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



Bloom's: Knowledge f r l



AICPA: AC: Systems and Process Management
f r l frl frl frl frl




7) Which of the following is a definition of output from an information system?
frl frl frl frl frl frl frl frl frl frl frl frl



A) Output is raw and unorganized data. frl frl frl frl frl



B) Output is information produced by processing data.
frl frl frl frl frl frl



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
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



Bloom's: Comprehension f r l



AICPA: AC: Systems and Process Management
f r l frl frl frl frl




8) Which statement concerning data is TRUE?
frl frl frl frl frl



A) Data is useless to a business until transformed into information.
frl frl frl frl frl frl frl frl frl



B) Data is the output from an information system.
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C) Data is organized into understandable formats.
frl frl frl frl frl



D) Data is processed before being input into the information system.
frl frl frl frl frl frl frl frl frl frl



Answer: A frl



Diff: 1 frl



Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



Bloom's: Comprehension f r l



AICPA: AC: Systems and Process Management
f r l frl frl frl frl




9) Which of the following activities would NOT result in a transaction in an accounting
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



information system? frl



A) Sell goods to a customer on account
frl frl frl frl frl frl



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
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



Bloom's: Application f r l



AICPA: AC: Systems and Process Management
f r l frl frl frl frl




3

, 10) Which of the following activities results in a transaction an accounting information system?
frl frl frl frl frl frl frl frl frl frl frl frl



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
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



mation.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



Bloom's: Application f r l



AICPA: AC: Systems and Process Management
f r l frl frl frl frl




11) A business model is frl frl frl



A) a company's plan for operations.
frl frl frl frl



B) a company's plan for making a profit.
frl frl frl frl frl frl



C) a company's plan for identifying customers.
frl frl frl frl frl



D) a company's plan for production.
frl frl frl frl frl



Answer: B frl



Diff: 1 frl



Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
frl frl frl frl frl frl frl frl frl frl frl fr l frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



Bloom's: Knowledge f r l



AICPA: AC: Systems and Process Management
f r l frl frl frl frl




12) What kind of business model should an entrepreneurial application developer consider for a
frl frl frl frl frl frl frl frl frl frl frl frl frl



new smartphone game that will allow users to pay for additional capabilities and/or lives during
frl frl frl frl frl frl frl frl frl frl frl frl frl frl frl



the game?
frl



A) Franchise
B) Subscription
C) Freemium
D) Peer-to-
peerAnswer: Cfrl frl f



Diff: 2
rl frl



Learning Objective: 1.1 Explain how accounting affects both the demand for and supply ofinforma
frl frl frl frl frl frl frl frl frl frl frl frl frl frl



tion.
Section Reference: Why is Accounting Information Important?AACS
frl frl frl frl frl frl frl



B: Analytic
frl



Bloom's: Application f r l



AICPA: AC: Systems and Process Management
f r l frl frl frl frl




4

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