Solutions for Accounting Information Systems, 4th Edition by Vernon Richardson
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Solution Manual for Accounting Information Systems, 4th Edition by Vernon Richardson. Chapter 1: Accounting Information Systems and Firm Value Chapter 2: Data Analytics: Addressing Accounting Questions with Data Chapter 3: Data Analytics: Data Visualizations Chapter 4: Accountants as Business Analy...
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End of Chapter Solutions Manual: Richardson, Chang, Smith, Accounting Information Systems, 4 edition
Chapter 1: Accounting Information Systems and Firm Value
Multiple Choice Questions
1. (LO 1-1) Accounting information systems
a. are always computerized.
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b. report only financially related information.
c. are information systems that record, process, and report on transactions to provide
financial and nonfinancial information for decision making and control.
d. require a CITP designation to understand.
ED
Answer: C
2. (LO 1-1) Which of the following is a characteristic of relevance?
SO
a. Materiality
b. Timeliness
c. Verifiable
d. Cost to generate
LU
Answer: A
3. (LO 1-2) Which of the following is considered to be mandatory information required by a
regulatory body?
TI
a. 10-Q submission to the Securities and Exchange Commission
b. The cost to produce a Samsung Galaxy
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c. The number of organic bananas that are sold at Whole Foods on July 28
d. The cost to build an all-new Starbucks restaurant in Shenzhen, China
Answer: A
4. (LO 1-4) The correct order of events in the value chain is
S?
a. Inbound logistics ➛ Operations ➛ Service.
b. Inbound logistics ➛ Outbound logistics ➛ Marketing and sales.
c. Inbound logistics ➛ Operations ➛ Outbound logistics.
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d. Inbound logistics ➛ Operations ➛ Marketing and Sales.
Answer: C
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5. (LO 1-8) Which system contributes information on direct labor to a cost accounting system?
a. Supply chain management system (SCMS)
b. Financial reporting system (FRS)
c. Customer Relational Management System (CRM)
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End of Chapter Solutions Manual: Richardson, Chang, Smith, Accounting Information Systems, 4 edition
d. Human resource management system (HRMS)
Answer: D
6. (LO 1-7) A supply chain
a. supplies jewelry chains.
b. refers to the flow of materials, information, payments, and services.
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c. is similar in function and purpose to the value chain.
d. does not apply to a service firm like an accounting firm.
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Answer: B
7. (LO 1-7) Customer relationship management software does not include information about
a. current customers.
SO
b. prospective customers.
c. former customers.
d. current employees.
Answer: D
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8. (LO 1-6) An information system that measures and records accounting transactions and
reports them in the financial statements is called a
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a. financial reporting system (FRS).
b. enterprise system (ES).
c. manufacturing system (MS).
d. cost accounting system.
ON
Answer: A
9. (LO 1-3) What is the name of the position for a person responsible for determining
Information needs of a business and designing a system to meet those needs?
S?
a. Chief information officer
b. Controller
c. IT auditor
??
d. Systems analyst
Answer: D
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10. (LO 1-9) The balance sheet account most likely affected by an AIS investment in supply
chain management software would be
a. inventories.
b. fixed assets.
c. cash and cash equivalents.
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End of Chapter Solutions Manual: Richardson, Chang, Smith, Accounting Information Systems, 4 edition
d. unearned revenue.
Answer: A
11. (LO 1-7) The software/system that helps make sure the retail firm doesn’t have a stockout is
a. supply chain management software.
b. customer relationship management software.
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c. enterprise systems.
d. human resource systems.
ED
Answer: A
12. (LO 1-9) Data analytics performed to identify the most profitable customers would be
most likely to affect which income statement account?
SO
a. Selling, general, and administrative expenses (SG&A)
b. Interest expense
c. Revenues
d. Cost of goods sold
LU
Answer: C
13. (LO 1-7, LO 1-9) Customer relationship management systems would generally be considered
to be an
TI
a. internal business process.
b. external business process.
c. interior business process.
ON
d. exterior business process.
Answer: B
14. (LO 1-3) An auditor testing internal controls would generally be considered to fill which
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role with respect to accounting information systems?
a. User
b. Manager
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c. Designer
d. Evaluator
Answer: D
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15. (LO 1-2) Which of these represents the proper transformation from data to decision
according to the information value chain?
a. Data ➛ Information ➛ Knowledge ➛ Decision
b. Data ➛ Knowledge ➛ Information ➛ Decision
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