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ACCT 320 - Accounting Information Systems - Exam 1, Chapters 1-3 questions with actual answers.
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ACCT 320 - Accounting Information Systems - Exam 1, Chapters 1-3 questions with actual answers.
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ACCT 320 - Accounting InformationSystems - Exam 1, Chapters 1-3
questions with actual answers.
Accounting Information Systems lacks a...? ANS - well-defined body of knowledge
What is an Information System? ANS - An information system is the set of formal procedures by which
data are collected, processed into information, and distributed to users.
Financial transactions ANS - economic events that affect the assets and equities of the organization (e.g.,
paying employees)
Nonfinancial activity ANS - all other events processed by the organization's information system (e.g.,
hiring of employees, changes in customer/vendor information)
Accounting Information System ANS - processes financial transactions; processes non-financial activity
that directly affects the processing of financial transactions; One form of non-financial activity that has
become a major challenge to process is referred to as Big Data
Big Data ANS - is "high-volume, high-velocity, and high variety information assets that demand cost-
effective, innovative forms of information processing for enhanced insight and decision making," as
noted in the Gartner IT Glossary.
data warehouse ANS - For many companies, data resides across multiple systems on different platforms.
As a result, many companies seek to consolidate the data into a ___________________________
Cloud computing ANS - refers to the delivery of computing services over a proprietary network or the
Internet.
On-demand, self-service
Available anytime, anywhere
, Pooling of provider resources
Service is scalable and elastic
Pay-as-you-go ANS - What are the characteristics associated with cloud computing?
Infrastructure-as-a-Service (IaaS)
Platform-as-a-Service (PaaS)
Software-as-a-Service (SaaS) ANS - What are the 3 different types of cloud computing?
Public, Private & Hybrid ANS - What are the 3 different delivery methods of cloud computing?
Less expensive
Fewer staff people
Increased Agility/Scalability
Remote access
Disaster Recovery
Easier to use
Improved service and performance ANS - What are the benefits of Cloud Computing?
Downtime
Device security
Data integrity
Privacy & confidentiality of data
Compliance ANS - What are the downfalls of Cloud Computing?
Domain Experts ANS - Accountants are the _________________ _____________________ and are
responsible for the conceptual design of the Accounting Information System; , the accountant
determines the nature of the information required, its sources, its destination, and the accounting rules
that need to be applied.
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