TEST BANK For Accounting Information Systems, 3rd Edition by Vernon Richardson,

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Test Bank for Accounting Information Systems, 1st Edit
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ion by Arline A. Savage Latest 2024
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Chapterx01:xAccountingxasxInformation
1) Accountingxcommunicatesxtoxstakeholders
A) minimallyxrequiredxpublicxfinancialxdata.
B) thexfinancialxoutcomesxofxoperating,xinvesting,xandxfinancingxactivities.
C) thexsalesxstrategyxforxthexoperating,xmarketing,xandxsalesxactivities.
D) blackxandxwhitexdetailsxaboutxthexeconomicsxofxoperatingxactivities.xAnswer:xB
Diff:x1
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xCommunication
Bloom's:xComprehensionxAICPA:xAC:xReporting


2) Accountingxcommunicatesxthexfinancialxoutcomesxofxaxbusiness'sxactivitiesxfor
A) operating.
B) investing.
C) financing.
D) Allxofxthesexanswerxchoicesxarexcorrect.xAnswer:xD
Diff:x1
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xCommunication
Bloom's:xComprehensionxAICPA:xAC:xReporting


3) Inxwhatxwayxdoxmanagementxteamsxusexaccountingxdata?
A) Managementxteamsxusexaccountingxdataxtoxmakexbusinessxdecisions.
B) Managementxteamsxusexaccountingxdataxtoxmakexandxexecutexplans.
C) Managementxteamsxusexeconomicxandxaccountingxdataxtogetherxtoxmakexdecisions.
D) Allxofxthesexanswerxchoicesxarexcorrect.xAnswer:xD

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Diff:x1
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xAnalytic
Bloom's:xxComprehension
AICPA:xxAC:xRiskxAssessment,xAnalysis,xandxManagement
x

4) WhichxstatementxisxTRUE?
A) Accountingxconsistsxofxrigidxblackxandxwhitexrules.
B) Accountantsxcrunchxnumbers,xnotxmakexdecisions.
C) Accountingxhelpsxsupportxaxprosperousxsociety.
D) Accountantsxfocusxonxdebitsxandxcredits,xnotxbusinessxactivities.xAnswer:xC
Diff:x1
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xAnalytic
Bloom's:xComprehensionxAICPA:xN/A


5) WhichxofxthexfollowingxisxNOTxaxcomponentxofxanxinformationxsystem?
A) Hardware
B) Software
C) Input
D) NetworkxAnswer:xCxDiff:x1
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xAnalytic
Bloom's:xxKnowledge
AICPA:xxAC:xSystemsxandxProcessxManagement


6) Inputxtoxanxinformationxsystemxconsistsxof
A) rawxandxunorganizedxdata.
B) hardwarexandxsoftware.

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C) reportedxinformation.
D) processedxdata.
Answer:xxA
Diff:x1
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xAnalytic
Bloom's:xxKnowledge
AICPA:xxAC:xSystemsxandxProcessxManagement
7) Whichxofxthexfollowingxisxaxdefinitionxofxoutputxfromxanxinformationxsystem?
A) Outputxisxrawxandxunorganizedxdata.
B) Outputxisxinformationxproducedxbyxprocessingxdata.
C) Outputxisxdatabasexfactsxandxfigures.
D) Outputxisxinformationxcollectedxfromxusers.xAnswer:xB
x


Diff:x1
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xAnalytic
Bloom's:xxComprehension
AICPA:xxAC:xSystemsxandxProcessxManagement


8) WhichxstatementxconcerningxdataxisxTRUE?
A) Dataxisxuselessxtoxaxbusinessxuntilxtransformedxintoxinformation.
B) Dataxisxthexoutputxfromxanxinformationxsystem.
C) Dataxisxorganizedxintoxunderstandablexformats.
D) Dataxisxprocessedxbeforexbeingxinputxintoxthexinformationxsystem.xAnswer:xA
Diff:x1
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xAnalytic
Bloom's:xxComprehension

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AICPA:xxAC:xSystemsxandxProcessxManagement


9)
WhichxofxthexfollowingxactivitiesxwouldxNOTxresultxinxaxtransactionxinxanxaccountingxinfor
mationxsystem?
A) Sellxgoodsxtoxaxcustomerxonxaccount
B) Purchasexsuppliesxonxcredit
C) Prepayxforxsixxmonthsxofxinsurance
D) ReceivexaxcustomerxorderxAnswer:xD
Diff:x2
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xAnalytic
Bloom's:xxApplication
AICPA:xxAC:xSystemsxandxProcessxManagement
x


10)
Whichxofxthexfollowingxactivitiesxresultsxinxaxtransactionxanxaccountingxinformationxsystem
?
A) Sellxgoodsxtoxaxcustomer
B) Submitxanxorderxtoxaxvendor
C) Createxestimatesxforxaxcustomer
D) ReceivexaxcustomerxorderxAnswer:xA
Diff:x2
LearningxObjective:x1.1xExplainxhowxaccountingxaffectsxbothxthexdemandxforxandxsupplyxofxinform
ation.
SectionxReference:xWhyxisxAccountingxInformationxImportant?xAACSB:xAnalytic
Bloom's:xxApplication
AICPA:xxAC:xSystemsxandxProcessxManagement


11) Axbusinessxmodelxis
A) axcompany'sxplanxforxoperations.

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