Accy 310 (Midterm And Final) Updated Actual Questions And Correct Answers

ACCY 310 (MIDTERM AND FINAL) UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. Accounting Information System (AIS)

Answer:
records, processes, and reports data

Question:
2. data

Answer:
raw facts

Question:
3. information

Answer:
data processed in a meaningful way

Question:
4. attributes of useful information

Answer:
relevance and faithful representation

Question:
5. relevance

Answer:
confirmatory value, predictive value, materiality

Question:
6. faithful representation

Answer:
complete, free from bias, free from error

Question:
7. business process

Answer:
organized activities or task a company does to achieve a goal

, Question:
8. Enterprise Resource Planning (ERP)

Answer:
centralized database that collects orders, customers, sales inventory

Question:
9. key business processes

Answer:
sales, purchases, conversion, HR

Question:
10. documentation

Answer:
required by SOX, provide an audit trail, help determine WCGW

Question:
11. SOX 404

Answer:
Management assessment of internal controls

Question:
12. audit

Answer:
independent examination of a company's financial statements

Question:
13. business processing diagram

Answer:
includes events that change the flow, activities and tasks, sequence of flow, and
decision points

Question:
14. elements of BPMN

Answer:
events, activities, sequence of flows, gateways

Question:
15. BPMN pool

Answer:
organization as a whole