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Unit 1 AIS Exam Questions and Answers
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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...

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  • August 4, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ch1 in which
  • unit 1 ais exam questions and answers
  • ch1 which of these business events does not resul
  • ch1 in which of the three types of business proce
  • ch1 in which of the three types of business proce

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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 - answer c. Order supplies from vendor

CH1: A tire company is evaluating the following measures: customer lifetime value (the
value the company realizes from each customer), customer acquisition cost (cost of
acquiring each customer), customer satisfaction and retention, and number of new and
existing customers. Which of the following best describes this initiative?

a. Data analytics
b. KPIs
c. Audit data analytics
d. Decision making - answer b. KPIs

CH1: In which of the three types of business processes in the basic business model
does a business deliver products to its customers?

a. Sales and collections
b. Acquisitions and payments
c. Conversion
d. Delivery contracts - answer a. Sales and collections

CH1: In which of the three types of business processes in the basic business model
does a business interact with vendors?

a. Sales and collections
b. Acquisitions and payments
c. Conversion
d. Accounts receivable - answer b. Acquisitions and payments

CH1: In which of the three types of business processes in the basic business model
does a business transform resources into a product or service that customers want?

a. Sales and collections
b. Acquisitions and payments
c. Conversion
d. Accounts receivable - answer c. Conversion

CH1: Which of these business events results in an accounting transaction?

, a. Monitor production defects
b. Receive damaged goods back from customer
c. Evaluate employee performance
d. Measure carbon footprint - answer b. Receive damaged goods back from
customer

CH1: McDonald's could have avoided massive financial losses from changing its
conversion processes if it had:

a. used data to analyze market trends and customer desires
b. used robots to create the made-to-order meals
c. spent more money on marketing
d. changed them sooner - answer a. used data to analyze market trends and
customer desires

CH1: Which of the following is not a characteristic that makes information useful?

a. Relevant
b. Cost-effective
c. Timely
d. Neutral - answer b. Cost-effective

CH1: In the iterative relationship of data-drive decision making, what occurs after
business events create data?

a. Management decision making
b. Business process updates
c. Transformation of raw data into useful information
d. Control activities through monitoring - answer c. Transformation of raw data into
useful information

CH1: The information quality characteristic that refers to knowledgeable and
independent people reaching agreement about whether information is representative of
a real-world fact or occurrence is ______.

a. relevance
b. faithful representation
c. verifiability
d. reliability - answer c. verifiability

CH1: Within the context of qualitative characteristic of accounting information, which of
the following is a fundamental qualitative characteristic?

a. Relevance
b. Timeliness

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