ACTG 313 Final Exam Question and
answers already passed 2026
Which of the following statements below shows the contrast between data and information?
Data is more useful in decision making than information.
Data and information are the same.
Information is the primary output of an accounting information system.
Data is the primary output of an accounting information system. - correct answer ✔Information is the
primary output of an accounting information system.
When a subsystem's goals are inconsistent with the goals of another subsystem or with the system as a
whole, it creates
goal inconsistence.
system inconsistence.
goal conflict.
system conflict. - correct answer ✔goal conflict
The value of information can best be determined by
,the benefits associated with obtaining the information minus the cost of producing it.
its relevance to decision makers.
the extent to which it optimizes the value chain.
its usefulness to decision makers. - correct answer ✔the benefits associated with obtaining the
information minus the cost of producing it.
Information is ________ when two knowledgeable people independently produce the same
information.
reliable
verifiable
relevant
complete - correct answer ✔verifiable
Transaction cycles can be summarized on a high level as "give-get" transactions. An example of "give-
get" in the revenue cycle would be
give goods, get cash.
give cash, get goods.
give cash, get cash.
,give cash, get labor. - correct answer ✔give goods, get cash.
Many modern accounting software packages offer separate transaction cycle modules. What is the
reason for this?
Most businesses do not need the revenue cycle module as part of their AIS.
Every organization does not need to implement all of the available transaction cycle modules.
A properly designed AIS does not use the concept of separate business transaction cycles to process
transactions.
The nature of a given transaction cycle is the same irrespective of the type of organization. - correct
answer ✔Every organization does not need to implement all of the available transaction cycle
modules.
A good example of how an AIS is used to share knowledge within an organization is
the use of a corporate database to help staff identify the relevant experts who can help with a particular
client.
the use of point-of-sale data to determine hot-selling items.
the use of tablets to access a network for messaging worldwide.
the monitoring of production equipment to watch for defects. - correct answer ✔the use of a
corporate database to help staff identify the relevant experts who can help with a particular client.
, Which of the following is not an example of how an AIS adds value to an organization?
All employees at a hospital can access and update patient records from any computer terminal in the
hospital.
Client tax files are encrypted and made available on the CPA firm's network to any employee with an
access code.
A customer service representative can find a customer's account data, purchase history, payment
history, and salesperson's name while on the phone with the customer, to resolve issues quickly.
Suppliers are able to access sales data directly from the point-of-sale system of a retailer and deliver
inventory automatically when needed. - correct answer ✔All employees at a hospital can access and
update patient records from any computer terminal in the hospital.
Which of the following is a primary activity in the value chain?
marketing and sales
purchasing
infrastructure
technology - correct answer ✔marketing and sales
Clemente Santiago has formed a business that sells carved gourmet coconuts. He has hired five
employees. The most senior is Mary, who manages the carving process. Jane is the newest employee.
She collects the coconuts. Joe takes calls from unhappy customers. Tom tosses finished coconuts into
the sea, sending them to the wholesaler. Annie sends letters to the wholesaler extolling the virtues of
the latest production run of nuts that are drifting across the bay. Which of the following functions in the
value chain is Mary performing?
answers already passed 2026
Which of the following statements below shows the contrast between data and information?
Data is more useful in decision making than information.
Data and information are the same.
Information is the primary output of an accounting information system.
Data is the primary output of an accounting information system. - correct answer ✔Information is the
primary output of an accounting information system.
When a subsystem's goals are inconsistent with the goals of another subsystem or with the system as a
whole, it creates
goal inconsistence.
system inconsistence.
goal conflict.
system conflict. - correct answer ✔goal conflict
The value of information can best be determined by
,the benefits associated with obtaining the information minus the cost of producing it.
its relevance to decision makers.
the extent to which it optimizes the value chain.
its usefulness to decision makers. - correct answer ✔the benefits associated with obtaining the
information minus the cost of producing it.
Information is ________ when two knowledgeable people independently produce the same
information.
reliable
verifiable
relevant
complete - correct answer ✔verifiable
Transaction cycles can be summarized on a high level as "give-get" transactions. An example of "give-
get" in the revenue cycle would be
give goods, get cash.
give cash, get goods.
give cash, get cash.
,give cash, get labor. - correct answer ✔give goods, get cash.
Many modern accounting software packages offer separate transaction cycle modules. What is the
reason for this?
Most businesses do not need the revenue cycle module as part of their AIS.
Every organization does not need to implement all of the available transaction cycle modules.
A properly designed AIS does not use the concept of separate business transaction cycles to process
transactions.
The nature of a given transaction cycle is the same irrespective of the type of organization. - correct
answer ✔Every organization does not need to implement all of the available transaction cycle
modules.
A good example of how an AIS is used to share knowledge within an organization is
the use of a corporate database to help staff identify the relevant experts who can help with a particular
client.
the use of point-of-sale data to determine hot-selling items.
the use of tablets to access a network for messaging worldwide.
the monitoring of production equipment to watch for defects. - correct answer ✔the use of a
corporate database to help staff identify the relevant experts who can help with a particular client.
, Which of the following is not an example of how an AIS adds value to an organization?
All employees at a hospital can access and update patient records from any computer terminal in the
hospital.
Client tax files are encrypted and made available on the CPA firm's network to any employee with an
access code.
A customer service representative can find a customer's account data, purchase history, payment
history, and salesperson's name while on the phone with the customer, to resolve issues quickly.
Suppliers are able to access sales data directly from the point-of-sale system of a retailer and deliver
inventory automatically when needed. - correct answer ✔All employees at a hospital can access and
update patient records from any computer terminal in the hospital.
Which of the following is a primary activity in the value chain?
marketing and sales
purchasing
infrastructure
technology - correct answer ✔marketing and sales
Clemente Santiago has formed a business that sells carved gourmet coconuts. He has hired five
employees. The most senior is Mary, who manages the carving process. Jane is the newest employee.
She collects the coconuts. Joe takes calls from unhappy customers. Tom tosses finished coconuts into
the sea, sending them to the wholesaler. Annie sends letters to the wholesaler extolling the virtues of
the latest production run of nuts that are drifting across the bay. Which of the following functions in the
value chain is Mary performing?
