Exam (elaborations)

Accounting Information Systems ISE Paperback by Rod E. Smith Vernon Richardson, Chengyee Janie Chang (Author), 4th Edition (International Edition) (Editor)

0 purchase

Course
Accounting Information Systems ISE Paperback by Ro

Institution
Accounting Information Systems ISE Paperback By Ro

Book
ACCOUNTING INFORMATION SYSTEMS

Accounting Information Systems ISE Paperback by Rod E. Smith Vernon Richardson, Chengyee Janie Chang (Author), 4th Edition (International Edition) (Editor) ISBN: 9781266188350 international edition of Accounting Information Systems 4th Edition by ernon Richardson, Chengyee Janie Chang, Rod E. Sm...

[Show more]

Preview 4 out of 277 pages

View example

Uploaded on October 29, 2024
Number of pages 277
Written in 2024/2025
Type Exam (elaborations)
Contains Questions & answers

accounting information systems ise paperback by ro
isbn 9781266188350 international edition of accou

Institution Accounting Information Systems ISE Paperback by Ro
Course Accounting Information Systems ISE Paperback by Ro

WhiteHouseTutor Member since 1 year 20 documents sold

$18.49

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

Accounting Information Systems 4e Vernon Richardson, Chengyee Chang, Rod Smith
l l l l l l l l l

(Solutions Manual All Chapters, 100% Original Verified, A+ Grade) All Chapters
l l l l l l l l l l l

Solutions Manual Supplement files download link at the end of this file.
l l l l l l l l l l l l

Chapter 1: Accounting Information Systems and Firm Value
l l l l l l l

Multiple Choice Questions
l l

1. (LO 1-1) Accounting information systems
l l l l

a. are always computerized. l l

b. report only financially related information. l l l l

c. are information systems that record, process, and report on transactions to provide financial
l l l l l l l l l l l l

and nonfinancial information for decision making and control.
l l l l l l l l

d. require a CITP designation to understand. l l l l l

Answer: C l

2. (LO 1-1) Which of the following is a characteristic of relevance?
l l l l l l l l l l

a. Materiality
b. Timeliness
c. Verifiable
d. Cost to generate l l

Answer: A
l l

3. (LO 1-2) Which of the following is considered to be mandatory information required by a regulatory
l l l l l l l l l l l l l l l

body?

a. 10-Q submission to the Securities and Exchange Commission
l l l l l l l

b. The cost to produce a Samsung Galaxy
l l l l l l

c. The number of organic bananas that are sold at Whole Foods on July 28
l l l l l l l l l l l l l

d. The cost to build an all-new Starbucks restaurant in Shenzhen, China
l l l l l l l l l l

Answer: A
l l

4. (LO 1-4) The correct order of events in the value chain is
l l l l l l l l l l l

a. Inbound logistics ➛Operations ➛Service. l l l l l

b. Inbound logistics ➛Outbound logistics ➛Marketing and sales. l l l l l l l l

c. Inbound logistics ➛Operations ➛Outbound logistics. l l l l l l

d. Inbound logistics ➛Operations ➛Marketing and Sales. l l l l l l l

Answer: C l

5. (LO 1-8) Which system contributes information on direct labor to a cost accounting system?
l l l l l l l l l l l l l

a. Supply chain management system (SCMS) l l l l

, End of Chapter Solutions Manual: Richardson, Chang, Smith, Accounting Information Systems, 4th edition

b. Financial reporting system (FRS) l l l

c. Customer Relational Management System (CRM) l l l l

d. Human resource management system (HRMS) l l l l

Answer: D
l l

6. (LO 1-7) A supply chain
l l l l

a. supplies jewelry chains. l l

b. refers to the flow of materials, information, payments, and services.
l l l l l l l l l

c. is similar in function and purpose to the value chain.
l l l l l l l l l

d. does not apply to a service firm like an accounting firm.
l l l l l l l l l l

Answer: B l

7. (LO 1-7) Customer relationship management software does not include information about
l l l l l l l l l l

a. current customers. l

b. prospective customers. l

c. former customers. l

d. current employees. l

Answer: D l

8. (LO 1-6) An information system that measures and records accounting transactions and reports
l l l l l l l l l l l l

them in the financial statements is called a
l l l l l l l l

a. financial reporting system (FRS). l l l

b. enterprise system (ES). l l

c. manufacturing system (MS). l l

d. cost accounting system. l l

Answer: A l

9. (LO 1-3) What is the name of the position for a person responsible for determining Information
l l l l l l l l l l l l l l l

needs of a business and designing a system to meet those needs?
l l l l l l l l l l l l

a. Chief information officer l l

b. Controller
c. IT auditor l

d. Systems analyst l

Answer: D
l l

, End of Chapter Solutions Manual: Richardson, Chang, Smith, Accounting Information Systems, 4th edition

10. (LO 1-9) The balance sheet account most likely affected by an AIS investment in supply chain
l l l l l l l l l l l l l l l

management software would be
l l l l

a. inventories.
b. fixed assets. l

c. cash and cash equivalents.
l l l

d. unearned revenue. l

Answer: A l

11. (LO 1-7) The software/system that helps make sure the retail firm doesn’t have a stockout is
l l l l l l l l l l l l l l l

a. supply chain management software. l l l

b. customer relationship management software. l l l

c. enterprise systems. l

d. human resource systems. l l

Answer: A l

12. (LO 1-9) Data analytics performed to identify the most profitable customers would be most likely to
l l l l l l l l l l l l l l l

affect which income statement account?
l l l l l

a. Selling, general, and administrative expenses (SG&A)
l l l l l

b. Interest expense l

c. Revenues
d. Cost of goods sold l l l

Answer: C
l l

13. (LO 1-7, LO 1-9) Customer relationship management systems would generally be considered to be
l l l l l l l l l l l l l

an

a. internal business process. l l

b. external business process. l l

c. interior business process. l l

d. exterior business process. l l

Answer: B l

14. (LO 1-3) An auditor testing internal controls would generally be considered to fill which role with
l l l l l l l l l l l l l l l

respect to accounting information systems?
l l l l l

a. User
b. Manager
c. Designer

, End of Chapter Solutions Manual: Richardson, Chang, Smith, Accounting Information Systems, 4th edition

d. Evaluator

Answer: D
l l

15. (LO 1-2) Which of these represents the proper transformation from data to decision according to the
l l l l l l l l l l l l l l l

information value chain? l l

a. Data ➛Information ➛Knowledge ➛Decision
l l l l l l

b. Data ➛Knowledge ➛Information ➛Decision
l l l l l l

c. Data ➛Business event ➛Information ➛Decision
l l l l l l l

d. Data ➛Analysis ➛Information ➛Decision
l l l l l l

Answer: A
l l

Discussion Questions l

1. Brainstorm a list of discretionary information that might be an output of an accounting l l l l l l l l l l l l l

information system and be needed by Starbucks. Prioritize which items might be most
l l l l l l l l l l l l l

important and provide support.
l l l l

Answers will vary. Here are some potential answers:
l l l l l l l

The cost of a cup of coffee, by type: Breakfast blend, Cafe estima, caffe Verona, espresso roast,
l l l l l l l l l l l l l l l l

Ethiopia sidamo, French roast, Gold Coast blend, Guatemala Antigua, house blend, Italian roast,
l l l l l l l l l l l l l

Kenya coffee, komodo dragon blend, organic Serena blend, organic shade grown Mexico,
l l l l l l l l l l l l

Sumatra, decaf caffe Verona, decaf espresso roast, decaf house blend, and decaf Sumatra!
l l l l l l l l l l l l l

Monthly Sales per square foot of retail space.
l l l l l l l

Employee cost for each operating hour.
l l l l l l

Advertising expenditures per dollar of sales. l l l l l

The cost of condiments per dollar sales of coffee. Condiments might include sweeteners, liquid
l l l l l l l l l l l l l

creamers, cream canisters, sugar packets, sugar canisters, stir sticks!
l l l l l l l l l

The cost of electricity per operating hour each month of the year.
l l l l l l l l l l l

2. Explain the information value chain. How do business events turn into data then into information
l l l l l l l l l l l l l l

and then into knowledge? Give an example starting with the business event of thepurchase of a
l l l l l l l l l l l l l l l l l

Super Smash Bros. Nintendo Switch Game at GameStop all the way to giving useful information
l l l l l l l l l l l l l l l

for the CEO and other decision makers.
l l l l l l l

The information value chain represents the overall transformation from a business need and
l l l l l l l l l l l l

business event (like each individual sale of U.S. flag) to an ultimate decision. The information
l l l l l l l l l l l l l l l

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller WhiteHouseTutor. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $18.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67479 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Exam (elaborations)

Accounting Information Systems ISE Paperback by Rod E. Smith Vernon Richardson, Chengyee Janie Chang (Author), 4th Edition (International Edition) (Editor)

Document information

Subjects

Connected book

More summaries for

Written for

Seller

Reviews received

Content preview