100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
AIS Midterm Questions and Answers CA$17.95   Add to cart
Quickly navigate to
Preview
  2.  
  3. Ais
  4.  
  5. Ais

Exam (elaborations)

AIS Midterm Questions and Answers

 8 views  0 purchase
  • Course
  • Ais
  • Institution
  • Ais

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 bee...

[Show more]

Preview 3 out of 22  pages

Document information

  • August 4, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ais midterm questions and answers
  • information is best described as a raw facts abo
  • an accounting information system ais processes
  • information may increase uncertainty and

Written for

  • Ais
  • Ais

Seller

avatar-seller
Pogba119

Reviews received

Content preview

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 - answer b. 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
________.
a. data; information
b. data; transactions
c. information; data
d. data; benefits
e. outputs; inputs - answer a. data; information

_________ information may increase uncertainty and inhibit decision makers' ability to
make predictions.
a. timely
b. reliable
c. too much
d. complete
e. relevant - answer c. too much

Information that is free from error or bias and accurately represents the events or
activities of the organization is
a. irrelevant
b. reliable
c. incomplete
d. untimely
e. inaccurate - answer b. reliable

Information that does not omit important aspects of the underlying events or activities
that it measures is
a. complete
b. accessible
c. relevant
d. timely
e. incomplete - answer a. complete

Information is _________ when two knowledgable people independently produce the
same information.
a. verifiable

,b. relevant
c. reliable
d. complete
e. inconsistent - answer a. verifiable

Inventory information is provided in real time by a firm's accounting information system.
The accuracy of this information is questionable, however, since the production
manager often reports stock outs of components that the system indicates are in stock.
Which of the following characteristics of useful information is absent in the situation
described above?
a. relevant
b. reliable
c. complete
d. timely
e. accessible - answer b. reliable

Wisconsin Dells, Wisconsin, is a popular tourist destination. During the winter months,
the population dwindles to a meager few, but when summer comes, the size of the town
surges. Hunter Jackson is the town sanitation engineer. When the size of the town
surges, so do his responsibilities. Among them is management of the sewage
processing volume.
In an interview with the local paper, Hunter complained that a report on tourist
population that he uses to adjust processing volume refers to data that was collected
four days ago and it takes him a week to make adjustments.
Which of the following characteristics of useful information is absent in the situation
described above?
a. relevant
b. reliable
c. complete
d. timely
e. understandable - answer d. timely

All of the following are business processing cycles EXCEPT
a. online transaction processing cycle
b. the expenditure cycle
c. the human resources / payroll cycle
d. the production cycle
e. the revenue cycle - answer a. online transaction processing cycle

In which transaction cycle would information for inventory purchases be most likely to
pass between internal and external accounting information systems?
a. the revenue cycle
b. the expenditure cycle
c. the human resources / payroll cycle
d. the financing cycle
e. the batch processing cycle - answer b. the expenditure cycle

, Transaction cycles can be summarized on a high level as "give-get" transactions. An
example of "give-get" in the revenue cycle would be
a. give labor, get goods
b. give goods, get cash
c. give cash, get labor
d. give cash, get cash
e. turnaround document - answer b. give goods, get cash

The transaction cycle that includes the events of hiring employees and paying them is
known as the
a. revenue cycle
b. expenditure cycle
c. human resources cycle
d. financing cycle
e. pay as you go cycle - answer c. human resources cycle

Who of the following would NOT be involved in the revenue cycle?
a. accounts payable clerk
b. customer
c. cashier
d. credit manager
e. salesperson - answer a. accounts payable clerk

An accounting information system must be able to perform all of the following tasks
EXCEPT
a. collect transaction data
b. process transaction data
c. provide adequate controls
d. provide users with unrestricted access to all screens in the accounting information
system
e. produce the financial statements - answer d. provide users with unrestricted
access to all screens in the accounting information system

Which of the following is NOT an example of a common activity in an AIS?
a. buy and pay for goods and services
b. sell goods and services and collect cash
c. summarize and report results to interested parties
d. office automation, such as users' emails
e. maintain the general ledger and automatically generate the financial statements -
answer d. office automation, such as users' emails

Many modern accounting software packages offer separate transaction cycle modules.
What is the reason for this?
a. Every organization does not need to implement all of the available transaction cycle
modules.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Pogba119. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$17.95. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81113 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$17.95
  • (0)
  Add to cart