AIS EXAM Ch 1-5 Richardson exam with correct answers

AIS EXAM Ch 1-5 Richardson exam with ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




correct answers ||\\||\\




1 An accounting information system is defined as - correct
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answers✔✔a system that records, processes, summarizes and ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




reports on business transactions to provide financial and ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




nonfinancial information to facilitate decision making ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




2.Benefits of enterprise system or enterprise resource planning - ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




correct answers✔✔a centralized database that collects data
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from throughout the firm ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




Can significantly lower the cost of support processes included in
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sales, general and admin expenses ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




3. As business analysts and info providers, accountants
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




understand what data is needed to solve a problem and are, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




thus, in a unique position to serve as a ____ of accounting
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information systems - correct answers✔✔designer ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




Certified Information Systems Auditor (CISA) - correct ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




answers✔✔professionals in IT audit, control, and security skills ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\

,(will perform IT audits to evaluate the accounting info system's
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internal control design) ||\\||\\ ||\\||\\




Information - correct answers✔✔data organized in a ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




meaningful way to be useful to the user ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




data - correct answers✔✔raw facts that describe the
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characteristics of an event that, in isolation, have little meaning ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




Discretionary Information - correct answers✔✔information that ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




is generated according to one's own judgement
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Managerial accounting information (activity based costing) is ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




generally produced for internal information purposes and would ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




be considered - correct answers✔✔discretionary information
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Mandatory Information - correct answers✔✔information that is ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




required to be generated or provided by law or regulation
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(usually produced at the lowest possible cost to comply with the ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




laws and regulators)
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, a corporate tax return and information produced for investors,
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banks, the SEC and the IRS would be considered to be - correct ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




answers✔✔mandatory info ||\\||\\




because discretionary info is not required, - correct ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




answers✔✔management must determine if the benefits of ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




receiving that info are greater than the costs of producing it ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




Storage - correct answers✔✔recorded transactions that are ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




saved in the cloud ||\\||\\ ||\\||\\ ||\\||\\




input - correct answers✔✔sales recorded in a cash register or
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point of sale terminal ||\\||\\ ||\\||\\ ||\\||\\




output - correct answers✔✔a monthly sales report produced by ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




an IS
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information from an AIS must be - correct answers✔✔relevant, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




and reliable to be useful to decision makers
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