WGU D561 INFORMATION
SYSTEMS FOR ACCOUNTING
AND CONTROL - CHAPTER 1-24
POWERPOINTS EXAM
QUESTIONS AND ANSWERS 2026
- 2027
Data - ANSWERS-Facts collected, recorded, and stored in a system
(e.g., numbers, dates, names) that alone have no meaning without
context.
Information - ANSWERS-Data that has been organized and given
context to make it meaningful and useful for decision making.
Information overload - ANSWERS-A condition where too much
information reduces the quality of decision making.
Information Technology (IT) - ANSWERS-Technology used to help
decision makers more effectively filter and condense information.
Value of information - ANSWERS-Information is valuable when the
benefits of having it exceed the costs of gathering, maintaining, and
storing it.
,Accurate (information characteristic) - ANSWERS-Information that is
correct and free of error.
Complete (information characteristic) - ANSWERS-Information that
does not omit important aspects of events or activities.
Relevant (information characteristic) - ANSWERS-Information that
reduces uncertainty and improves decision making.
Timely (information characteristic) - ANSWERS-Information
provided in time for a decision maker to act on it.
Verifiable (information characteristic) - ANSWERS-Information that
two independent people can produce the same result from the same
data.
Machine-readable format - ANSWERS-A data format that can be read
and processed by a computer; XBRL is an example.
Business process - ANSWERS-A set of related, coordinated, and
structured activities performed by people or machines to achieve a
specific organizational goal.
Transaction - ANSWERS-An agreement between two entities to
exchange goods, services, or any other event measurable in economic
terms.
,Transaction processing - ANSWERS-Using transaction data to create
financial statements and records.
Give-get exchange - ANSWERS-The fundamental nature of business
transactions: one party gives something and gets something in return.
Revenue cycle - ANSWERS-The business process: give
goods/services — get cash.
Expenditure cycle - ANSWERS-The business process: get
goods/services — give cash.
Production cycle (business process) - ANSWERS-The business
process: give labor and raw materials — get finished goods.
Payroll cycle (business process) - ANSWERS-The business process:
give cash — get labor.
Financing cycle - ANSWERS-The business process: give cash — get
cash (borrowing and repaying).
Accounting Information System (AIS) - ANSWERS-A system that
collects, records, stores, and processes data to produce information for
decision makers; includes people, processes, technology, and controls.
, How does an AIS add value? - ANSWERS-By improving
product/service quality, improving efficiency, sharing knowledge,
improving supply chain, strengthening internal controls, and
improving decision making.
Artificial Intelligence (AI) - ANSWERS-The use of computer systems
to simulate human intelligence processes such as learning, reasoning,
and self-improvement.
Data analytics - ANSWERS-The use of software and algorithms to
find and solve problems and improve business performance.
Cloud computing - ANSWERS-The use of a browser to remotely
access software, data storage, hardware, and applications.
Virtualization - ANSWERS-Running multiple systems simultaneously
on one physical computer.
Internet of Things (IoT) - ANSWERS-The embedding of sensors in
devices so they can connect to the Internet.
Value chain - ANSWERS-Links together the different activities within
an organization that provide value to the customer; includes primary
and support activities.
Primary activities (value chain) - ANSWERS-Value chain activities
that provide direct value to the customer.
SYSTEMS FOR ACCOUNTING
AND CONTROL - CHAPTER 1-24
POWERPOINTS EXAM
QUESTIONS AND ANSWERS 2026
- 2027
Data - ANSWERS-Facts collected, recorded, and stored in a system
(e.g., numbers, dates, names) that alone have no meaning without
context.
Information - ANSWERS-Data that has been organized and given
context to make it meaningful and useful for decision making.
Information overload - ANSWERS-A condition where too much
information reduces the quality of decision making.
Information Technology (IT) - ANSWERS-Technology used to help
decision makers more effectively filter and condense information.
Value of information - ANSWERS-Information is valuable when the
benefits of having it exceed the costs of gathering, maintaining, and
storing it.
,Accurate (information characteristic) - ANSWERS-Information that is
correct and free of error.
Complete (information characteristic) - ANSWERS-Information that
does not omit important aspects of events or activities.
Relevant (information characteristic) - ANSWERS-Information that
reduces uncertainty and improves decision making.
Timely (information characteristic) - ANSWERS-Information
provided in time for a decision maker to act on it.
Verifiable (information characteristic) - ANSWERS-Information that
two independent people can produce the same result from the same
data.
Machine-readable format - ANSWERS-A data format that can be read
and processed by a computer; XBRL is an example.
Business process - ANSWERS-A set of related, coordinated, and
structured activities performed by people or machines to achieve a
specific organizational goal.
Transaction - ANSWERS-An agreement between two entities to
exchange goods, services, or any other event measurable in economic
terms.
,Transaction processing - ANSWERS-Using transaction data to create
financial statements and records.
Give-get exchange - ANSWERS-The fundamental nature of business
transactions: one party gives something and gets something in return.
Revenue cycle - ANSWERS-The business process: give
goods/services — get cash.
Expenditure cycle - ANSWERS-The business process: get
goods/services — give cash.
Production cycle (business process) - ANSWERS-The business
process: give labor and raw materials — get finished goods.
Payroll cycle (business process) - ANSWERS-The business process:
give cash — get labor.
Financing cycle - ANSWERS-The business process: give cash — get
cash (borrowing and repaying).
Accounting Information System (AIS) - ANSWERS-A system that
collects, records, stores, and processes data to produce information for
decision makers; includes people, processes, technology, and controls.
, How does an AIS add value? - ANSWERS-By improving
product/service quality, improving efficiency, sharing knowledge,
improving supply chain, strengthening internal controls, and
improving decision making.
Artificial Intelligence (AI) - ANSWERS-The use of computer systems
to simulate human intelligence processes such as learning, reasoning,
and self-improvement.
Data analytics - ANSWERS-The use of software and algorithms to
find and solve problems and improve business performance.
Cloud computing - ANSWERS-The use of a browser to remotely
access software, data storage, hardware, and applications.
Virtualization - ANSWERS-Running multiple systems simultaneously
on one physical computer.
Internet of Things (IoT) - ANSWERS-The embedding of sensors in
devices so they can connect to the Internet.
Value chain - ANSWERS-Links together the different activities within
an organization that provide value to the customer; includes primary
and support activities.
Primary activities (value chain) - ANSWERS-Value chain activities
that provide direct value to the customer.
