ISA 235 EXAM 1 MCGUIRE ACTUAL TEST
PAPER 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◉ Value Chain: Primary Vs. Support. Answer: Views a firm as a series
of business processes that each add value. Primary: The firm
acquiring raw materials, manufacturing, delivering, marketing and
selling. Support: Actual firm infrastructure such as HR, Management,
Tech. Dept.
◉ Data. Answer: Raw facts that describe the characteristics of an
event or object
◉ Information. Answer: Data converted into meaningful and useful
context
◉ Metrics. Answer: Measurements that evaluate results to
determine whether a project is meeting its goals
◉ BI. Answer: Information collected from multiple sources such as
suppliers, customers, competitors, partners, and industries that
analyze patterns, trends, and relationships for strategic decision
making
,◉ Analytics. Answer: The science of fact based decision making
◉ Knowledge. Answer: Skills, experience, and expertise coupled
with information and intelligence that creates a person's intellectual
resources
◉ System. Answer: a collection of parts that link to achieve a
common purpose
◉ Systems Thinking. Answer: A way of monitoring the entire system
by viewing multiple inputs being processes or transformed to
produce outputs while continuously gathering feedback on each part
◉ Porters 5 forces. Answer: Evaluates 5 forces: Buyer, Supplier,
Threat of New Entrants, Substitute Products/Services, and Rivalry
◉ Porters 3 generic strategies. Answer: Generic business strategies
that are neither organziation nor industry specific and can be
applied to an business, product, or service
◉ CIO. Answer: Responsible for (1) overseas all uses of MIS and (2)
ensuring that MIS strategically aligns with business goals and
objectives
, ◉ SWOT. Answer: Evaluates Strengths (inside), Weaknesses (inside),
Opportunities (outside), and Threats (outside)
◉ Model. Answer: A simplified representation of reality
◉ Transactional Info. Answer: Encompasses all of the info contained
within a single business process or unit of work and its purpose is to
support the daily operations or structured decisions
◉ Analytical Info. Answer: Encompasses all organization
information and its primary purpose is to support the performing of
managerial analysis or semistructured decisions
◉ Business Process. Answer: Standardized set of activities that
accomplish a specific task
◉ Ganularity. Answer: Refers to the level of detail in the model or
the decision making process
◉ Visualization. Answer: Produces graphical displays of patterns
and complex relationships in large amounts of data
◉ Artificial Intelligence. Answer: Simulates human thinking and
behavior such as the ability to reason and learn
PAPER 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◉ Value Chain: Primary Vs. Support. Answer: Views a firm as a series
of business processes that each add value. Primary: The firm
acquiring raw materials, manufacturing, delivering, marketing and
selling. Support: Actual firm infrastructure such as HR, Management,
Tech. Dept.
◉ Data. Answer: Raw facts that describe the characteristics of an
event or object
◉ Information. Answer: Data converted into meaningful and useful
context
◉ Metrics. Answer: Measurements that evaluate results to
determine whether a project is meeting its goals
◉ BI. Answer: Information collected from multiple sources such as
suppliers, customers, competitors, partners, and industries that
analyze patterns, trends, and relationships for strategic decision
making
,◉ Analytics. Answer: The science of fact based decision making
◉ Knowledge. Answer: Skills, experience, and expertise coupled
with information and intelligence that creates a person's intellectual
resources
◉ System. Answer: a collection of parts that link to achieve a
common purpose
◉ Systems Thinking. Answer: A way of monitoring the entire system
by viewing multiple inputs being processes or transformed to
produce outputs while continuously gathering feedback on each part
◉ Porters 5 forces. Answer: Evaluates 5 forces: Buyer, Supplier,
Threat of New Entrants, Substitute Products/Services, and Rivalry
◉ Porters 3 generic strategies. Answer: Generic business strategies
that are neither organziation nor industry specific and can be
applied to an business, product, or service
◉ CIO. Answer: Responsible for (1) overseas all uses of MIS and (2)
ensuring that MIS strategically aligns with business goals and
objectives
, ◉ SWOT. Answer: Evaluates Strengths (inside), Weaknesses (inside),
Opportunities (outside), and Threats (outside)
◉ Model. Answer: A simplified representation of reality
◉ Transactional Info. Answer: Encompasses all of the info contained
within a single business process or unit of work and its purpose is to
support the daily operations or structured decisions
◉ Analytical Info. Answer: Encompasses all organization
information and its primary purpose is to support the performing of
managerial analysis or semistructured decisions
◉ Business Process. Answer: Standardized set of activities that
accomplish a specific task
◉ Ganularity. Answer: Refers to the level of detail in the model or
the decision making process
◉ Visualization. Answer: Produces graphical displays of patterns
and complex relationships in large amounts of data
◉ Artificial Intelligence. Answer: Simulates human thinking and
behavior such as the ability to reason and learn
