ACG 3401 Exam 1 2026 Questions and
Answers Graded A+
system - Correct answer-A __ is a set of interdependent elements that together
accomplish specific objectives.
collect, store, manage, information - Correct answer-An information system (or
management information system) consists of an integrated set of computer-based
and manual components established to ___________, ___________, and
__________ data and to provide _____________________________ to users
recording, summarizing, - Correct answer-What is accounting?
Accounting is the system of ___ and ___ business and financial transactions and
analyzing, verifying, and reporting the results.
collects, records, stores, processes data, information, decision-making. - Correct
answer-An accounting information system (AIS) is a system (set of interdependent
elements) that ___ & ___, ___, and ___ ___ to produce ___for ___ ___.
, integrates core functional areas into one - Correct answer-Historically, an AIS was
separate or a subsystem of the IS, but now it is most likely an integrated part of the
enterprise resource planning system, which is a system that ___ ___ ___ ___ ___
___system (SAP, Oracle).
People, Policies and Procedures, Data, Software, IT infrastructure, Internal
Controls - Correct answer-What are the components of an AIS?
1.
2.
3.
4.
5.
6.
Operations and Management - Correct answer-The AIS and its components fulfill
two important business functions:
effectively, efficiently - Correct answer-Operations: Complete the operations of the
business __ and __
make decisions, stewardship of resources - Correct answer-Management:
Transform data to information so management can plan, execute, control, and
Answers Graded A+
system - Correct answer-A __ is a set of interdependent elements that together
accomplish specific objectives.
collect, store, manage, information - Correct answer-An information system (or
management information system) consists of an integrated set of computer-based
and manual components established to ___________, ___________, and
__________ data and to provide _____________________________ to users
recording, summarizing, - Correct answer-What is accounting?
Accounting is the system of ___ and ___ business and financial transactions and
analyzing, verifying, and reporting the results.
collects, records, stores, processes data, information, decision-making. - Correct
answer-An accounting information system (AIS) is a system (set of interdependent
elements) that ___ & ___, ___, and ___ ___ to produce ___for ___ ___.
, integrates core functional areas into one - Correct answer-Historically, an AIS was
separate or a subsystem of the IS, but now it is most likely an integrated part of the
enterprise resource planning system, which is a system that ___ ___ ___ ___ ___
___system (SAP, Oracle).
People, Policies and Procedures, Data, Software, IT infrastructure, Internal
Controls - Correct answer-What are the components of an AIS?
1.
2.
3.
4.
5.
6.
Operations and Management - Correct answer-The AIS and its components fulfill
two important business functions:
effectively, efficiently - Correct answer-Operations: Complete the operations of the
business __ and __
make decisions, stewardship of resources - Correct answer-Management:
Transform data to information so management can plan, execute, control, and
