MC -->BP Exam 1 Chapter 1 with all Correct & 100%
Verified Answers |Latest Version |Already Graded A+
(Just Released)
1. Which of the following is not a business resource?
a.
raw material
b.
labor
c.
information
d.
all are business resources ✔Correct Answer-D
2. Which level of management is responsible for short-term planning and coordination of activities
necessary to accomplish organizational objectives?
a.
operations management
b.
middle management
c.
top management
d.
line management ✔Correct Answer-B
3. Which level of management is responsible for controlling day-to-day operations?
a.
top management
b.
middle management
c.
operations management
d.
executive management ✔Correct Answer-C
4. The ability to achieve the goals of a system depends upon the effective functioning and
harmonious interaction between its subsystems. This is called
a.
system decomposition
b.
system redundancy
c.
backup system
d.
subsystem interdependency ✔Correct Answer-D
5. The value of information for users is determined by all of the following but
a.
, reliability
b.
relevance
c.
convenience
d.
completeness ✔Correct Answer-C
6. An example of a nonfinancial transaction is
a.
sale of products
b.
cash disbursement
c.
log of customer calls
d.
purchase of inventory ✔Correct Answer-C
7. An example of a financial transaction is
a.
the purchase of computer
b.
a supplier's price list
c.
a delivery schedule
d.
an employee benefit brochure ✔Correct Answer-A
8. Which subsystem is not part of the Accounting Information System?
a.
Transaction Processing System
b.
Expert System
c.
General Ledger/Financial Reporting System
d.
Management Reporting System ✔Correct Answer-B
9. The major difference between the Financial Reporting System (FRS) and the Management
Reporting System (MRS) is the
a.
FRS provides information to internal and external users; the MRS provides information to internal
users
b.
FRS provides discretionary information; the MRS provides nondiscretionary information
c.
FRS reports are prepared using information provided by the General Ledger System; the MRS
provides information to the General Ledger System
d.
FRS reports are prepared in flexible, nonstandardized formats; the MRS reports are prepared in
standardized, formal formats ✔Correct Answer-A
Verified Answers |Latest Version |Already Graded A+
(Just Released)
1. Which of the following is not a business resource?
a.
raw material
b.
labor
c.
information
d.
all are business resources ✔Correct Answer-D
2. Which level of management is responsible for short-term planning and coordination of activities
necessary to accomplish organizational objectives?
a.
operations management
b.
middle management
c.
top management
d.
line management ✔Correct Answer-B
3. Which level of management is responsible for controlling day-to-day operations?
a.
top management
b.
middle management
c.
operations management
d.
executive management ✔Correct Answer-C
4. The ability to achieve the goals of a system depends upon the effective functioning and
harmonious interaction between its subsystems. This is called
a.
system decomposition
b.
system redundancy
c.
backup system
d.
subsystem interdependency ✔Correct Answer-D
5. The value of information for users is determined by all of the following but
a.
, reliability
b.
relevance
c.
convenience
d.
completeness ✔Correct Answer-C
6. An example of a nonfinancial transaction is
a.
sale of products
b.
cash disbursement
c.
log of customer calls
d.
purchase of inventory ✔Correct Answer-C
7. An example of a financial transaction is
a.
the purchase of computer
b.
a supplier's price list
c.
a delivery schedule
d.
an employee benefit brochure ✔Correct Answer-A
8. Which subsystem is not part of the Accounting Information System?
a.
Transaction Processing System
b.
Expert System
c.
General Ledger/Financial Reporting System
d.
Management Reporting System ✔Correct Answer-B
9. The major difference between the Financial Reporting System (FRS) and the Management
Reporting System (MRS) is the
a.
FRS provides information to internal and external users; the MRS provides information to internal
users
b.
FRS provides discretionary information; the MRS provides nondiscretionary information
c.
FRS reports are prepared using information provided by the General Ledger System; the MRS
provides information to the General Ledger System
d.
FRS reports are prepared in flexible, nonstandardized formats; the MRS reports are prepared in
standardized, formal formats ✔Correct Answer-A
