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Mastering ACCT 307 Test 1 Part Two: Comprehensive Study Guide with Verified Questions GRADEED A+
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Mastering ACCT 307 Test 1 Part Two: Comprehensive Study Guide with Verified Questions GRADEED A+
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Mastering ACCT 307 Test 1 Part Two: Comprehensive StudyGuide with Verified Questions 2024 2025
GRADEED A+
Which of the following is NOT true about accounting information systems (AISs)?
a) All AIS are computerized
b) AIS may report both financial and non-financial information
c) AIS, in addition to collecting and distributing large amounts of data and information, also organize and
store data for future uses
d) A student who has an interest in both accounting, and IT, will find many job opportunities that
combine these knowledge and skills areas
a) All AIS are computerized
Which of the following is likely to be information rather than data?
a) Sales Price
b) Customer Number
c) Net Profit
d) Employee Name
c) net profit
With respect to computerized AIS, computers:
a) Turn data into information in all cases
b) make audit trails easier to follow
c) cannot catch mistakes as well as humans
,d) do not generally process information more quickly than humans
c) cannot catch mistakes as well as humans
A dashboard is:
a) a computer screen used by data entry clerks for input tasks
b) a physical device dedicated to AIS processing tasks
c) a summary screen typically used by managers
d) a type of blackboard used by managers to present useful information to users
c) a summary screen typically used by managers
The Sarbanes-Oxley Act of 2002:
a) enables US officers to wiretap corporate phones if required
b) has led to a decrease in the amount of work done by auditors and accountants
c) forbids corporations from making personal loans to executives
d) requires the CEO of a public company to take responsibility for the reliability for its financial
statements
c) forbids corporations from making personal loans to executives
The acronym SAR stands for:
a) simple accounting receipts
b) suspicious accounting revenue
c) suspicious activity reporting
d) standard accounts receivable
c) suspicious activity reporting
,Which of the following is NOT true regarding assurance services?
a) auditors of public companies are no longer allowed to provide assurance services to any public
company as a result of the Sarbanes-Oxley Act of 2002
b) assurance services include online privacy evaluations
c) activity-based costing is not a type of assurance service
d) only CPAs can provide assurance services to clients
d) only CPAs can provide assurance services to clients
Which of these acronyms represents a law involving health assurance and privacy?
a) ABC
b) HIPAA
c) CPA
d) SOX
e) XBRL
b)HIPPA
Which of these acronyms stands for a computer language used for reporting business activities?
a) ABC
b) HIPAA
C) CPA
d) SOX
e) XBRL
e)XBRL
, Assigning overhead costs based on the resources, rather than only direct labor, used in manufacturing is
an example of:
a) Activity based costing (ABC)
b) budgeting
c) cost-plus accounting
d) financial, rather than managerial, accounting
a) Activity based costing (ABC)
Which of these acronyms is a certification for information professionals?
a) ABC
b) HIPAA
c) CBA
d) CITP
e) XBR
d) CITP
Which of the following describes "cloud computing"?
a) business applications over the internet
b) it is a subset of e-business
c) the ability of a company to exchange data with its subsidiaries
d) none of the above
a) business applications over the internet
How would you describe "big data"?
a) cloud computing can be used to support data analytics projects
b) a combination of large, complex data sets
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