AIS EXAM Ch 1-5 Richardson || QUESTIONS WITH
100% CORRECT ANSWERS; SCORED A+
1 An accounting information system is defined as correct answers a system that records,
processes, summarizes and reports on business transactions to provide financial and
nonfinancial information to facilitate decision making
2.Benefits of enterprise system or enterprise resource planning correct answers a centralized
database that collects data from throughout the firm
Can significantly lower the cost of support processes included in sales, general and admin
expenses
3. As business analysts and info providers, accountants understand what data is needed to
solve a problem and are, thus, in a unique position to serve as a ____ of accounting
information systems correct answers designer
Certified Information Systems Auditor (CISA) correct answers professionals in IT audit,
control, and security skills
(will perform IT audits to evaluate the accounting info system's internal control design)
Information correct answers data organized in a meaningful way to be useful to the user
data correct answers raw facts that describe the characteristics of an event that, in isolation,
have little meaning
Discretionary Information correct answers information that is generated according to one's
own judgement
Managerial accounting information (activity based costing) is generally produced for internal
information purposes and would be considered correct answers discretionary information
Mandatory Information correct answers information that is required to be generated or
provided by law or regulation
(usually produced at the lowest possible cost to comply with the laws and regulators)
a corporate tax return and information produced for investors, banks, the SEC and the IRS
would be considered to be correct answers mandatory info
because discretionary info is not required, correct answers management must determine if the
benefits of receiving that info are greater than the costs of producing it
Storage correct answers recorded transactions that are saved in the cloud
input correct answers sales recorded in a cash register or point of sale terminal
output correct answers a monthly sales report produced by an IS
information from an AIS must be correct answers relevant, and reliable to be useful to
decision makers
, information value chain correct answers overall transformation from a business need and
business event to the collection of data and info to an ultimate decision
when auditors assess the internal controls in an AIS as part of the Sarbanes-Oxley Act, they
are serving in their role as correct answers evaluators of the system
supply chain correct answers the flow of materials, information, payments, and services from
raw materials suppliers, thru factories and warehouses, all the way to the final customers of
the firm's products
Supply chain refers to a network of processes that correct answers deliver a finished good or
service to the final customer
(includes the firms and processes that create and deliver products, information, and services
to the final customer)
enterprise system correct answers serves as a central depository for information from orders,
customers, sales, inventory and employees
Attributes of reliable information include correct answers verifiable, representational
faithfulness, neutrality
attributes of relevant information include correct answers predictive value, feedback value,
timeliness
supporting activities of the value chain correct answers firm infrastructure
human resource management
technology
procurement
Primary activities of the value chain correct answers inbound logistics
operations
outbound logistics
marketing and sales activities
service activities
accountants gather info relevant in solving business problems, create or extract that
information and then correct answers analyze the information to solve the problem
certified info technology professional (CTIP) correct answers identifies accountants with a
broad range of technology knowledge and experience.
Certified Internal Auditor (CIA) correct answers the only globally accepted certification for
internal auditors and is the standard to demonstrate their competency and professionalism in
the internal audit field.
value chain correct answers when a product passes thru value-enhancing activities
a chain of business processes for a firm that creates value
automate correct answers replace human labor in automating business processes
100% CORRECT ANSWERS; SCORED A+
1 An accounting information system is defined as correct answers a system that records,
processes, summarizes and reports on business transactions to provide financial and
nonfinancial information to facilitate decision making
2.Benefits of enterprise system or enterprise resource planning correct answers a centralized
database that collects data from throughout the firm
Can significantly lower the cost of support processes included in sales, general and admin
expenses
3. As business analysts and info providers, accountants understand what data is needed to
solve a problem and are, thus, in a unique position to serve as a ____ of accounting
information systems correct answers designer
Certified Information Systems Auditor (CISA) correct answers professionals in IT audit,
control, and security skills
(will perform IT audits to evaluate the accounting info system's internal control design)
Information correct answers data organized in a meaningful way to be useful to the user
data correct answers raw facts that describe the characteristics of an event that, in isolation,
have little meaning
Discretionary Information correct answers information that is generated according to one's
own judgement
Managerial accounting information (activity based costing) is generally produced for internal
information purposes and would be considered correct answers discretionary information
Mandatory Information correct answers information that is required to be generated or
provided by law or regulation
(usually produced at the lowest possible cost to comply with the laws and regulators)
a corporate tax return and information produced for investors, banks, the SEC and the IRS
would be considered to be correct answers mandatory info
because discretionary info is not required, correct answers management must determine if the
benefits of receiving that info are greater than the costs of producing it
Storage correct answers recorded transactions that are saved in the cloud
input correct answers sales recorded in a cash register or point of sale terminal
output correct answers a monthly sales report produced by an IS
information from an AIS must be correct answers relevant, and reliable to be useful to
decision makers
, information value chain correct answers overall transformation from a business need and
business event to the collection of data and info to an ultimate decision
when auditors assess the internal controls in an AIS as part of the Sarbanes-Oxley Act, they
are serving in their role as correct answers evaluators of the system
supply chain correct answers the flow of materials, information, payments, and services from
raw materials suppliers, thru factories and warehouses, all the way to the final customers of
the firm's products
Supply chain refers to a network of processes that correct answers deliver a finished good or
service to the final customer
(includes the firms and processes that create and deliver products, information, and services
to the final customer)
enterprise system correct answers serves as a central depository for information from orders,
customers, sales, inventory and employees
Attributes of reliable information include correct answers verifiable, representational
faithfulness, neutrality
attributes of relevant information include correct answers predictive value, feedback value,
timeliness
supporting activities of the value chain correct answers firm infrastructure
human resource management
technology
procurement
Primary activities of the value chain correct answers inbound logistics
operations
outbound logistics
marketing and sales activities
service activities
accountants gather info relevant in solving business problems, create or extract that
information and then correct answers analyze the information to solve the problem
certified info technology professional (CTIP) correct answers identifies accountants with a
broad range of technology knowledge and experience.
Certified Internal Auditor (CIA) correct answers the only globally accepted certification for
internal auditors and is the standard to demonstrate their competency and professionalism in
the internal audit field.
value chain correct answers when a product passes thru value-enhancing activities
a chain of business processes for a firm that creates value
automate correct answers replace human labor in automating business processes
