,
, Accounting Information Systems 1st Edition Savage Test Bank WQ WQ WQ WQ WQ WQ WQ
Instant Access WQ W
Accounting Information Systems, 1e (Savage)
WQ WQ WQ WQ W
Chapter 1 Accounting as Information
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All Chapters
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1) Accounting communicates to stakeholders WQ WQ WQ
A) minimally required public financial data. WQ WQ WQ WQ
B) the financial outcomes of operating, investing, and financing activities.
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C) the sales strategy for the operating, marketing, and sales activities.
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D) black and white details about the economics of operating activities.
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Answer: B
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Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Communication
W Q
Bloom's: Comprehension W Q
AICPA: AC: Reporting
WQ W Q WQ
2) Accounting communicates the financial outcomes of a business's activities for
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A) operating.
B) investing.
C) financing.
D) All of these answer choices are correct.
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Answer: D
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Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Communication
W Q
Bloom's: Comprehension W Q
AICPA: AC: Reporting
WQ W Q WQ
3) In what way do management teams use accounting data?
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A) Management teams use accounting data to make business decisions.WQ WQ WQ WQ WQ WQ WQ WQ
B) Management teams use accounting data to make and execute plans.WQ WQ WQ WQ WQ WQ WQ WQ WQ
C) Management teams use economic and accounting data together to make decisions.
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D) All of these answer choices are correct.
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Answer: D
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Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Analytic
W Q
Bloom's: Comprehension W Q
AICPA: AC: Risk Assessment, Analysis, and Management
W Q WQ WQ WQ WQ WQ
1
, 4) Which statement is TRUE? WQ WQ WQ
A) Accounting consists of rigid black and white rules. WQ WQ WQ WQ WQ WQ WQ
B) Accountants crunch numbers, not make decisions. WQ WQ WQ WQ WQ
C) Accounting helps support a prosperous society. WQ WQ WQ WQ WQ
D) Accountants focus on debits and credits, not business activities.
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Answer: C
WQ W Q
Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Analytic
W Q
Bloom's: Comprehension W Q
AICPA: N/A
WQ W Q
5) Which of the following is NOT a component of an information system?
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A) Hardware
B) Software
C) Input
D) Network
Answer: C
WQ WQ W
Diff: 1
Q WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Analytic
W Q
Bloom's: Knowledge W Q
AICPA: AC: Systems and Process Management
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6) Input to an information system consists of
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A) raw and unorganized data.
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B) hardware and software. WQ WQ
C) reported information. WQ
D) processed data. WQ
Answer: A
WQ W Q
Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Analytic
W Q
Bloom's: Knowledge W Q
AICPA: AC: Systems and Process Management
W Q WQ WQ WQ WQ
7) Which of the following is a definition of output from an information system?
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A) Output is raw and unorganized data.
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B) Output is information produced by processing data.
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C) Output is database facts and figures.
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D) Output is information collected from users.
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Answer: B
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2
, Accounting Information Systems 1st Edition Savage Test Bank WQ WQ WQ WQ WQ WQ WQ
Instant Access WQ W
Accounting Information Systems, 1e (Savage)
WQ WQ WQ WQ W
Chapter 1 Accounting as Information
Q WQ WQ WQ
All Chapters
Q WQ
1) Accounting communicates to stakeholders WQ WQ WQ
A) minimally required public financial data. WQ WQ WQ WQ
B) the financial outcomes of operating, investing, and financing activities.
WQ WQ WQ WQ WQ WQ WQ WQ
C) the sales strategy for the operating, marketing, and sales activities.
WQ WQ WQ WQ WQ WQ WQ WQ WQ
D) black and white details about the economics of operating activities.
WQ WQ WQ WQ WQ WQ WQ WQ WQ
Answer: B
WQ W Q
Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Communication
W Q
Bloom's: Comprehension W Q
AICPA: AC: Reporting
WQ W Q WQ
2) Accounting communicates the financial outcomes of a business's activities for
WQ WQ WQ WQ WQ WQ WQ WQ WQ
A) operating.
B) investing.
C) financing.
D) All of these answer choices are correct.
WQ WQ WQ WQ WQ WQ W
Answer: D
Q W Q
Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Communication
W Q
Bloom's: Comprehension W Q
AICPA: AC: Reporting
WQ W Q WQ
3) In what way do management teams use accounting data?
WQ WQ WQ WQ WQ WQ WQ WQ
A) Management teams use accounting data to make business decisions.WQ WQ WQ WQ WQ WQ WQ WQ
B) Management teams use accounting data to make and execute plans.WQ WQ WQ WQ WQ WQ WQ WQ WQ
C) Management teams use economic and accounting data together to make decisions.
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D) All of these answer choices are correct.
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Answer: D
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Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Analytic
W Q
Bloom's: Comprehension W Q
AICPA: AC: Risk Assessment, Analysis, and Management
W Q WQ WQ WQ WQ WQ
1
, 4) Which statement is TRUE? WQ WQ WQ
A) Accounting consists of rigid black and white rules. WQ WQ WQ WQ WQ WQ WQ
B) Accountants crunch numbers, not make decisions. WQ WQ WQ WQ WQ
C) Accounting helps support a prosperous society. WQ WQ WQ WQ WQ
D) Accountants focus on debits and credits, not business activities.
WQ WQ WQ WQ WQ WQ WQ WQ
Answer: C
WQ W Q
Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Analytic
W Q
Bloom's: Comprehension W Q
AICPA: N/A
WQ W Q
5) Which of the following is NOT a component of an information system?
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A) Hardware
B) Software
C) Input
D) Network
Answer: C
WQ WQ W
Diff: 1
Q WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Analytic
W Q
Bloom's: Knowledge W Q
AICPA: AC: Systems and Process Management
W Q WQ WQ WQ WQ
6) Input to an information system consists of
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A) raw and unorganized data.
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B) hardware and software. WQ WQ
C) reported information. WQ
D) processed data. WQ
Answer: A
WQ W Q
Diff: 1 WQ
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inform
WQ W Q WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ WQ
ation.
Section Reference: Why is Accounting Information Important? AAC
WQ W Q WQ WQ WQ WQ WQ
SB: Analytic
W Q
Bloom's: Knowledge W Q
AICPA: AC: Systems and Process Management
W Q WQ WQ WQ WQ
7) Which of the following is a definition of output from an information system?
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A) Output is raw and unorganized data.
WQ WQ WQ WQ WQ
B) Output is information produced by processing data.
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C) Output is database facts and figures.
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D) Output is information collected from users.
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Answer: B
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2
