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TEST BANK FOR Accounting Information /Actual Questions And 100% Verified Correct Chapter ( Version )

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Uploaded on September 19, 2024
Number of pages 7
Written in 2024/2025
Type Exam (elaborations)
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test bank for accounting information actual quest
test bank for accounting information actual
test bank for accounting information

Institution FOR Accounting Information
Course FOR Accounting Information

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TEST BANK FOR Accounting Information /Actual
Questions And 100% Verified Correct Chapter ( 2024 -
2025 Version )

Revenue Cycle - CORRECT ANSWERS-Sales order processing, credit granting,
shipment, billing, cash receipts, and bank deposits

Expenditure Cycle - CORRECT ANSWERS-Acquisition of physical inventory,
authorizing payment, disbursing funds

Cost accounting system - CORRECT ANSWERS-Monitors the flow of cost information
related to production.

Expenditure cycle - CORRECT ANSWERS-Involves purchases/accounts payable,
acquisition of physical inventory, payment authorization, fund disbursement, labor
monitoring, and paycheck disbursement.

Conversion cycle - CORRECT ANSWERS-Includes releasing raw materials for
manufacturing, determining raw material amounts to order, and production subsystem.

Sequential Coding - CORRECT ANSWERS-A common use is identifying documents

Alphabetic Code - CORRECT ANSWERS-Meaning is readily conveyed to users

Cardinality - CORRECT ANSWERS-One to many connection

Virtual Storage Access Method - CORRECT ANSWERS-Disadvantage: It cannot insert
new records efficiently

Revenue cycle - CORRECT ANSWERS-Comprises cash receipts subsystem and sales
order processing subsystem.

Entity relationship diagram - CORRECT ANSWERS-Represents relationships between
entities in a system, used in database design.

Time lag - CORRECT ANSWERS-Characteristic distinguishing batch and real-time
systems; batch processing has a delay between event and recording, while real-time
systems process transactions instantly.

Resource use - CORRECT ANSWERS-Distinguishing feature between batch and real-
time systems; batch processing requires fewer resources compared to real-time
systems.

, System flowchart - CORRECT ANSWERS-Portrays relationships between source data,
files, programs, and output media.

Program flowchart - CORRECT ANSWERS-Illustrates the logic of a program with
symbols representing computer instructions.

DFD - CORRECT ANSWERS-Shows tasks performed but not who performs them,
depicting the logical system.

Flowchart - CORRECT ANSWERS-Effective for identifying who or what performs a
task, illustrating the physical system.

Batch processing - CORRECT ANSWERS-Used to improve operational efficiency by
updating non-critical accounts in batches, reducing processing delays.

Real-time processing - CORRECT ANSWERS-Works best for systems with high
transaction volumes, updating unique transaction records instantly and common
accounts in batch mode.

Program flowchart for auditing - CORRECT ANSWERS-Provides internal logic details
for designing audit tests during application program testing.

Correct Answer - CORRECT ANSWERS-When testing an application program, the
auditor needs details about its internal logic provided by the program flowchart to design
the audit tests.

Computer system flowcharts and program flowcharts relationship - CORRECT
ANSWERS-The system flowchart shows the relationship between two computer
programs, the files they use, and the outputs they produce. However, for assessing a
program's logic, a program flowchart is needed.

Key distinguishing features of legacy systems - CORRECT ANSWERS-Legacy systems
are mainframe-based, batch-oriented applications that use structured storage systems,
promoting a single-user environment.

Information provided by a record layout diagram - CORRECT ANSWERS-Record layout
diagrams reveal the internal structure of records in a file or database table, showing
attributes' names, data types, and lengths.

Master file backup procedure importance - CORRECT ANSWERS-Master file backup
maintains file integrity in case of errors or disasters, allowing reconstruction of the
current version from backups.

Reasons for using coding schemes in AISs - CORRECT ANSWERS-Coding schemes
in AISs represent complex information concisely, ensure transaction completeness,
identify unique transactions/accounts, and support auditing.

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