ACG 3401 - Ch. 1 SmartBook Exam
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Accounting information systems provide decision makers _____________________. - CORRECT
ANSWER financial and nonfinancial information
An accounting information system is defined as a system that _____. - CORRECT ANSWER
records, processes, summarizes and reports on business transactions
Sales recorded in a cash register would be an example of a(n) ____________ activity in an
information system. - CORRECT ANSWER input
To be useful to decision makers, information from an AIS must be both relevant and __________. -
CORRECT ANSWER be a faithful representation
An attribute of relevant information is: the information is _________. - CORRECT ANSWER
timely
An accounting information system is defined as a system that records, processes and reports on
business [blank] (decisions/transactions). - CORRECT ANSWER transactions
Attributes of faithful representation include complete, free from error and [blank]. - CORRECT
ANSWER neutrality or unbiased
Accounting Information Systems include _________________. - CORRECT ANSWER either
manual or computerized systems
Information which helps users predict what will happen in the future would be an attribute of
__________. - CORRECT ANSWER relevant information
Recorded transactions that are saved in the cloud would be an example of a(n) ____________ activity
in an information system. - CORRECT ANSWER storage
, As part of the faithful representation attribute of useful information, the information that contains all
monetary transactions and doesn't miss any would be _____. - CORRECT ANSWER complete
Neutrality, or information without bias, would be considered a component of ________, which are
critical for providing useful accounting information. - CORRECT ANSWER faithful
representation
True or false: Data that simply collects the characteristics of different transactions has great value to
an organization. - CORRECT ANSWER False
Reason:
Without context, data has little meaning and little value to an organization.
An attribute of relevant information is: the information provides _________. - CORRECT ANSWER
predictive value
True or false: To produce data, information is often processed and then combined with the appropriate
context. - CORRECT ANSWER False
Reason:
Data is processed to produce information.
An attribute of faithful representation is the information is ______________. - CORRECT ANSWER
free from error
Information which helps users evaluate how past decisions actually worked would be an attribute of
__________. - CORRECT ANSWER relevant information
True or false: Too much information is not possible. - CORRECT ANSWER False
Reason:
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Accounting information systems provide decision makers _____________________. - CORRECT
ANSWER financial and nonfinancial information
An accounting information system is defined as a system that _____. - CORRECT ANSWER
records, processes, summarizes and reports on business transactions
Sales recorded in a cash register would be an example of a(n) ____________ activity in an
information system. - CORRECT ANSWER input
To be useful to decision makers, information from an AIS must be both relevant and __________. -
CORRECT ANSWER be a faithful representation
An attribute of relevant information is: the information is _________. - CORRECT ANSWER
timely
An accounting information system is defined as a system that records, processes and reports on
business [blank] (decisions/transactions). - CORRECT ANSWER transactions
Attributes of faithful representation include complete, free from error and [blank]. - CORRECT
ANSWER neutrality or unbiased
Accounting Information Systems include _________________. - CORRECT ANSWER either
manual or computerized systems
Information which helps users predict what will happen in the future would be an attribute of
__________. - CORRECT ANSWER relevant information
Recorded transactions that are saved in the cloud would be an example of a(n) ____________ activity
in an information system. - CORRECT ANSWER storage
, As part of the faithful representation attribute of useful information, the information that contains all
monetary transactions and doesn't miss any would be _____. - CORRECT ANSWER complete
Neutrality, or information without bias, would be considered a component of ________, which are
critical for providing useful accounting information. - CORRECT ANSWER faithful
representation
True or false: Data that simply collects the characteristics of different transactions has great value to
an organization. - CORRECT ANSWER False
Reason:
Without context, data has little meaning and little value to an organization.
An attribute of relevant information is: the information provides _________. - CORRECT ANSWER
predictive value
True or false: To produce data, information is often processed and then combined with the appropriate
context. - CORRECT ANSWER False
Reason:
Data is processed to produce information.
An attribute of faithful representation is the information is ______________. - CORRECT ANSWER
free from error
Information which helps users evaluate how past decisions actually worked would be an attribute of
__________. - CORRECT ANSWER relevant information
True or false: Too much information is not possible. - CORRECT ANSWER False
Reason:
