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AIS Final Exam Questions and Answers correct
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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 mos...

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  • August 4, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ais final exam questions and answers correct
  • in which transaction cycle would information for r
  • in which transaction cycle would information for i
  • in which transaction cycle would information for p

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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? - answer the financing
cycle

In which transaction cycle would information for inventory purchases be most likely to
pass between internal and external accounting information systems? - answer the
expenditure cycle

In which transaction cycle would information for paying dividends be most likely to pass
between internal and external accounting information systems? - answer the
financing cycle

What is a key decision that needs to be made with regards to selling merchandise? -
answer which credit cards to accept

An accounting information system requires at least one computer (T/F) - answer
False

Which of the following tradeoffs between characteristics of useful information is least
objectionable? - answer incomplete information received on a timely basis

Identify the party below that is not external to the firm.
CEO
Vendor
Government agencies
Customer - answer CEO

The value of information can best be determined by - answer the benefits associated
with obtaining the information minus the cost of producing it

Identify the piece of information below that is typically needed to acquire inventory.
job descriptions
vendor performance
market coverage
capacity needs - answer capacity needs

In which transaction cycle would customer sales transaction information be most likely
to pass between internal and external accounting information systems? - answer the
revenue cycle

, Data must be converted into information to be considered useful and meaningful for
decision making. There are 14 characteristics that make information both useful and
meaningful. If information is free from error or bias and fairly represents the events or
activities of the organization, it is representative of the characteristic of - answer
accurate

identify the party below that is not internal to the firm
management
CEO
employees
customer - answer customer

a good example of how an AIS is used to share knowledge with an organization is -
answer the use of a corporate database to help staff identify the relevant experts
who can help with a particular client

_____ information reduces uncertainty, improves decision makers' ability to make
predictions, or confirms expectations. - answer relevant

Information that does not omit important aspects of the underlying events or activities
that it measures is - answer complete

Information can help reduce uncertainty, improves decision making, or confirms or
corrects prior expectations, it is representative of the characteristic of - answer
relevance

Paying off debts for the organization is part of which activity? - answer financing

checking the credit of a potential customer is part of which cycle? - answer revenue

inventory information for Sun Corp. is provided in real time by a firm's accounting
information system. However, the accuracy of this information is questionable. Many
store managers often report 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? - answer reliable

a change in the AIS that makes information more easily accessible and widely available
within an organization is most likely to first influence the - answer organizational
culture

Which of the following statements below shoes the contrast between data and
information - answer information is the primary output of an accounting information
system

the value of information can best be determined by - answer the benefits associated
with obtaining the information minus the cost of producing it

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