AIS EXAM BUDLE 2024

AIS Exam Review Questions and Answers An accounting information system (AIS) processes ________ to provide users with ________ data; information data; transactions information; data data; benefits data; information Accounting information plays major roles in managerial decisio...

AIS Exam Questions and Answers 100% correct Which of the folliwing is NOT true about accounting information systems? All AIS are computerized Which of the following is likely to be information rather than data? Net Profit With respect to a computerized AIS, computers cannot catch m...

AIS Exam 1 Questions with correct Answers Accounting What is: The systematic and comprehensive recording of an organization's financial transactions, including summarizing, analyzing, and reporting these transactions to all users Accounting Information System (AIS) What is: A system tha...

AIS exam 1 Questions and Answers Graded A+ Given the following REA model snippet: Sale Order (0,N) - (1,N) Shipment - which of the following are true (circle all that are correct): 1. Every item on a Sale Order must be shipped on the same Shipment 2. Some items on a Sale Order can be shipped on...

AIS Chapter 1 Multiple Choice Questions and Answers Data differ from information in which way? Information is output and data is input Which of the following is NOT a characteristic that makes information useful? a.) It is reliable b.) It is timely c.) It is inexpensive d.) It is releva...

AIS Questions and Answers Horizontal flows information used primarily at the operations level to capture transaction and operations data Vertical flows of information downward flows — instructions, quotas, and budgets upward flows — aggregated transaction and operations data Ac...

AIS Questions and Answers graded A+ A set of two or more interrelated components that interact to achieve a goal. Most systems are composed of smaller subsystems that support the larger system. System When a subsystem's goals are inconsistent with the goals of another subsystem or the syst...

AIS EXAM 1 Questions and Answers A system that contains only human resources is referred to as a manual system. T The operation system as a subsystem is designed to accomplish the work of the organization. T Efficiency concerns the provision of information through the optimal use of...

AIS Midterm Questions and Answers Information is best described as: a. raw facts about transactions b. data that has been organized and processed so that it is meaningful to the user c. raw data that will be processed d. computerized data e. verbally communicated data b. data that has been...

AIS Final Exam Textbook Review Questions and Answers describe the activities associated with a manual accounting process there are four activities associated with doing the accounting process manually: 1. Journalize- this records the business event in an original entry that contains the business ...

Unit 1 AIS Exam Questions and Answers CH1: Which of these business events does not result in an accounting transaction? a. Declare a dividend b. Pay a dividend c. Order supplies from vendor d. Deliver product to customer c. Order supplies from vendor CH1: A tire company is evaluating ...

Chap 1 AIS Questions and Answers What are the two major functions of an information system? -Assists management with daily operations -supports all activities undertaken by management What factors distinguish data from information? Data is bare form of fact and figures. Information takes...

AIS Discussion Questions Exam #1 and Answers How would an AIS help a company identify the products with the highest profit margins? Why is it important to a company? AIS collects important information for companies to help decision makers compare products with the highest profit margins. AIS is ve...

AIS Chapter 8 Questions and Answers The coding scheme most appropriate for a chart of accounts is a. sequential code b. block code c. group code d. mnemonic code B A common use for sequential coding is a. creating the chart of accounts b. identifying inventory items c. identify...

AIS Final Study Guide Questions and Answers Graded A+ Which of the following is not essential to the definition of AIS? A. Software B. Documents C. Decision Makers D. Financial Data A The FASB conceptual framework links AIS with that other area of accounting? A. Taxation B. Auditi...

AIS Exam 2 Study Guide Questions and Answers Requires some memorization a. flowchart b. narrative c. both ? Is more helpful with complex systems a. flowchart b. narrative c. both ? Shows all the documents and what happens to them a. flowchart b. narrative c. both a ...

AIS Exam 3 Questions and Answers graded A+ Which of the following is a benefit of clear documentation of systems and processes? a. management override of controls b. longer training of employees c. hiring of consultants d. systematic repetition and consistency in operations d. systematic repet...

Accounting Information Systems Questions and Answers Graded A+ What is a system? A system is an organised set of principles or procedures created and used to carry out a specific activity. What is an Accounting Information system A system that captures, records processes and reports accoun...

AIS Long Answers 15.1 Questions and Answers 100% correct a purchasing agent orders materials from a supplier he partially owns kickbacks - job rotation and mandatory vacations - requiring purchasing agent to disclose financial and personal interests in suppliers receiving- dock personnel ...

AIS Final Exam Questions and Answers 1. An accounting information system serves many functions - which of the following is NOT one of those functions? (2 Points) a) Capture the details of a transaction b) Implement the start of a transaction c) Provide reports of transactions d) Process the tra...

AIS Exam 1 Question and answers Accounting Information Systems Defined A set of interrelated activities, documents, and technologies designed to collect data, process it, and report information to a diverse group of internal and external decision makers in organizations. AIS -No "right" ...

AIS exam #1 Questions and Answers 100 % correct This is a collection of data items organized as a set of formally-described tables from which data can be accessed or reassembled in many different ways without having to reorganize the database tables. a. Dataflow diagram b. Matrix c. data warehou...

AIS exam 3 review Questions and Answers Activities of the Revenue Cycle Sales order entry shipping billing cash collections Revenue Cycle giving goods or services, in return gets cash Primary Objective of the Revenue Cycle to provide the right product in the right place at the r...

AIS Chapter 5 Questions and answers graded A+ What is the term that companies use to describe the massive amounts of data they now capture, store, and analyze for their daily operations? Big Data The scope of the data revolution includes which of the following four V's of big data? all of...

AIS FINAL Questions and Answers Completely identify 5 specific reasons why the amounts of computer fraud and the accounting information systems are increasing. 1) People who break into corporate databases can steal, destroy, or alter massive amounts of data in very little time, often leaving lit...

AIS Questions and Answers 100% correct You can edit the data or a label in a cell by double-clicking the cell and then positioning the insertion point within the cell. True You must select ________ on a worksheet to create a pie chart. two ranges In a map chart, each region displays...

AIS Chapter 10 Control & Accounting Information Systems Questions and Answers Which of the following is not one of the risk responses identified in the COSO Enterprise Risk Management Framework? Monitoring A control procedure designed so that the employee that records cash received from cus...

AIS Exam 1 Ch. 1, 2 and 16 Questions and Answers Which of the following statements below shows the contrast between data and information? a. Information is the primary output of an accounting information system. b. Data is more useful in decision making than information. c. Data is the primary...

AIS Questions and Answers graded A+ Match the IMA Management Accounting Competency Framework skill area with a matching skill. Strategic management <---- Reporting and control <---- Technology and analytics <---- Leadership <----. Professional ethics and values <---- ---> ...

AIS - Exam 2 - Ch. 9 AIS Development Strategies Questions and Answers Identify the statement below that is FALSE with regards to the development of an AIS. A) A newly designed AIS always meets user needs for a time period. B) Changes to the AIS are often difficult to make after requirements have...

AIS Final Questions and Answers What is the primary purpose of an Accounting Information System (AIS)? Collecting, storing, and processing financial data Which of the following is NOT a component of AIS? Animals How do AIS and MIS differ? AIS is a subset of MIS. Who are th...

AIS: Chapters 1-4 (Missing Questions Due to Images) Questions and Answers 1.1 Distinguish data from information, discuss the characteristics of useful information, and explain how to determine the value of information. 1) Which of the following statements below shows the contrast between dat...

AIS 25 Questions with correct Answers Quality Revolution A broad term used to describe the shift in outlook among managers and executives in all organizations that arose with the growing realization that quality can be equated with customer satisfaction This movement recognizes the need for conti...

AIS Final Exam Review Questions (Extensive) D) Activities, documents, and technologies An accounting information system is a set of interrelated: A) Activities and documents only B) Activities and technologies only C) Documents and technologies only D) Activities, documents, and technologies ...

AIS- Systems Documentation Techniques Questions and Answers correct Documentation narratives, flowcharts, diagrams, and other written materials that explain how a system works narrative description written, step-by-step explanation of system components and how they interact Data Flo...

AIS Final Exam Questions and Answers correct In which transaction cycle would information for retiring long-term debt be most likely to pass between internal and external accounting information? the financing cycle In which transaction cycle would information for inventory purchases be most...

AIS ch 1 &2 Questions and Answers right the Accounting Cycle 1 source document 2 journal 3 ledger 4 trial balance 5 adjustments 6 adjusted trial balance 7 closing entries 8 financial statements Seven general characteristics that make information useful Relevant: information needed t...

AIS FINAL Questions and Answers correct Which of the following is one of the four steps in the data processing cycle? a. Data storage b. Deposit cash receipts c. Take customer order d. Data collection A Providing the right product in the right place at the right time for the right p...

CHAPTER 10 AIS Questions and Answers right Processing Integrity Principle that states that a reliable system is one that produces information that is accurate, complete, timely, and valid. What three areas must be controlled in order to obtain processing integrity? Input, Processing, and O...

Midterm Exam 1: Chapters 1-5 AIS Questions and answers correct A specialized subsystem of the IS that collects, processes, and reports information related to the financial aspects if business events. A. Management Information Systems (MIS) B. Accounting Information Systems (AIS) C. Enterprise Sy...

AIS CHAPTER 1 Questions and Answers right 1) Which of the following statements below shows the contrast between data and information? A) Data is the output of an AIS. B) Information is the primary output of an AIS. C) Data is more useful in decision-making than information. D) Data and informat...

AIS Quiz 1 Ch 1 Questions and Answers correct Define an Accounting Information System A system that collects, records, stores, and processes data to produce information for decision makers. It includes people, procedures and instructions, data, software, information technology infrastructure, and ...

AIS Chapter 22 Questions and Answers right Systems Implementation Consists of implementation tasks, expected completion dates, cost estimates, and who is responsible for each task. Identifies factors that may decrease the likelihood of successful implementation, and strategies for coping with each...

Accounting Information System (AIS) Questions and Answers correct what is information? 1. facts provided or learned about something or someone 2. what is conveyed or represented by a particular arrangement or sequence of things what is a system? 1. a set of things working together as part...

AIS Chapter 1 Questions and Answers precise Seven characteristics that make information useful for decision making: Reliability, Verifiable, Timeliness, Relevance, Complete, Understandable, Accessible Data differ from information in which way? a) Data are output and information is input b...

AIS Quiz 1 Questions and Answers right System Set of two or more interrelated components that interact to achieve a goal. Key Characteristics of Information 1. Relevant 2. Reliable 3. Complete 4. Timely 5. Understandable 6. Verifiable 7. Accessible Relevant Information needed...

AIS Application Controls Questions and Answers correct turnaround document record of company data sent to an external party and then returned by the external party to the system as input field check whether characters in a field are the proper type (field of only numeric values are just nu...

AIS - Chapter 1 Questions and Answers right accounting information system (AIS) A system that records, processes, and reports on transactions to provide financial and nonfinancial information to make decisions and have appropriate levels of internal controls for those transactions. automate...

Chapter 1 (AIS EXAM 1) Questions and Answers 100% correct system set of two or more interrelated components that interact to achieve a goal (pg.3) information data that has been organized and processed to provide meaning and improve the decision making process (pg.3) data facts...

AIS - Chapter 1 Questions and Answers graded A+ 1) Which of the following statements below shows the contrast between data and information? A) Data is the output of an AIS. B) Information is the primary output of an AIS. C) Data is more useful in decision-making than information. D) Dat...

AIS Midterm Questions and Answers correct Information is best described as_________. data that has been organized and processed so that it is meaningful to the user. An accounting information system (AIS) processes ________ to provide users with ________. data; information _____ inf...

AIS Chapter 7 Questions and Answers Threat/Event Any potential adverse occurrence or unwanted event that could injure the AIS or the organization Exposure/Impact The potential dollar loss should a particular threat become a reality Likelihood The probability that a threat will come...

AIS final exam Questions and Answers graded A+ Which of the following is not essential to the definition of an accounting information system? a. Software b. Documents c. Decision makers d. Financial data a. Software All of the following are facts about an Accounting Information System (...

AIS Test 1 terms Questions and Answers right documentation explains how a system works, including the who, what, when, where, why and how of data entry narrative description a written step-by-step explanation of system components and interactions business process diagram a visual w...

AIS: Exam 1 Quiz Questions and Answers correct Which of the following is not an example of how an AIS adds value to an organization? A. Suppliers are able to access sales data directly from the point-of-sale system of a retailer and deliver inventory automatically when needed B. Client tax fi...

AIS Questions and Answers graded A+ Database organized collection of data Entity a thing you want to remember - resource/thing - event - agent/person - location What are the 4 steps to database design? 1) identify entities 2) identify attributes 3) identify relationships betw...

AIS chapter 1 Hall Questions and Answers 100% correct AIS Specialized subset of information systems that process financial transactions attest function function performed by an expert who expresses an opinion regarding the presentation of financial statements. performed by Certified Publ...

AIS CHAPTER 5 Questions and Answers Graded A+ Big Data massive amounts of data they now capture, store, and analyze Data Volume amount of data created and stored by an organization Data velocity pace at which data is created and stored Data Variety different forms data can ...

AIS EXAM 1 Questions and Answers correct Which of the following statements below shows the contrast between data and information? -Data is more useful in decision making than information. -Information is the primary output of an accounting information system. -Data is the primary output of an ...

AIS Chapter 2: Introduction to Transaction Processing Questions and Answers graded A+ Financial Transaction an economic event that affects the assets and equities of the firm, is reflected in its accounts, and is measured in monetary terms. the expenditure cycle the conversion cycle the...