WGU D561 Information Systems for
Accounting and Control Objective
Assessment QUESTIONS AND VERIFIED
ANSWERS WITH RATIONALES JUST
RELEASED. 100% Verified Solutions |
Updated Per Latest Guidelines | Graded
A+
SECTION 1: ACCOUNTING INFORMATION SYSTEMS (AIS) FUNDAMENTALS
Question 1
Which of the following best describes the primary purpose of an Accounting
Information System (AIS)?
A. To replace all management functions
B. To collect, process, store, and report financial information for decision-making
C. To eliminate all business risks
D. To increase tax liabilities
Correct Answer: B
,Rationale: An Accounting Information System (AIS) integrates people, processes,
data, and technology to collect, process, store, and communicate financial and
accounting information. The system supports operational activities, management
decision-making, regulatory compliance, and financial reporting. Options A, C, and
D are incorrect as an AIS does not replace management functions, eliminate all
risks, or increase tax liabilities.
Question 2
Which of the following is NOT a core component of an AIS?
A. People
B. Procedures and instructions
C. Data
D. Marketing strategies
Correct Answer: D
Rationale: Core AIS components include people, procedures and instructions,
data, software, IT infrastructure, and internal controls. Marketing strategies are not
a core component of an AIS but rather a function of the marketing department.
Question 3
The main goal of integrating AIS with Enterprise Resource Planning (ERP) systems is
to:
A. Eliminate all manual journal entries
B. Share data across functional areas for real-time information
,C. Remove the need for audits
D. Focus only on external reporting
Correct Answer: B
Rationale: ERP integration enables cross-functional data flow and timely reporting.
It allows different departments to share information seamlessly, improving
coordination and decision-making.
Question 4
Which business process records transactions involving customers purchasing
goods or services on credit?
A. Expenditure cycle
B. Production cycle
C. Revenue cycle
D. Financing cycle
Correct Answer: C
Rationale: The revenue cycle encompasses activities such as receiving customer
orders, shipping products, billing customers, collecting payments, and maintaining
accounts receivable.
Question 5
Which document typically initiates the revenue (sales) cycle?
, A. Purchase order
B. Receiving report
C. Customer order / sales order
D. Vendor invoice
Correct Answer: C
Rationale: A customer order triggers the sales process in the revenue cycle by
initiating the sequence of activities from order entry to cash collection.
Question 6
What is the primary objective of internal controls?
A. Maximizing sales
B. Eliminating employee responsibility
C. Safeguarding assets and ensuring reliable financial reporting
D. Increasing profits
Correct Answer: C
Rationale: The primary objective of internal controls is to safeguard assets and
ensure the reliability of financial reporting. Internal controls also promote
operational efficiency and compliance with laws and regulations.
Question 7
What is the primary purpose of a three-way match?
Accounting and Control Objective
Assessment QUESTIONS AND VERIFIED
ANSWERS WITH RATIONALES JUST
RELEASED. 100% Verified Solutions |
Updated Per Latest Guidelines | Graded
A+
SECTION 1: ACCOUNTING INFORMATION SYSTEMS (AIS) FUNDAMENTALS
Question 1
Which of the following best describes the primary purpose of an Accounting
Information System (AIS)?
A. To replace all management functions
B. To collect, process, store, and report financial information for decision-making
C. To eliminate all business risks
D. To increase tax liabilities
Correct Answer: B
,Rationale: An Accounting Information System (AIS) integrates people, processes,
data, and technology to collect, process, store, and communicate financial and
accounting information. The system supports operational activities, management
decision-making, regulatory compliance, and financial reporting. Options A, C, and
D are incorrect as an AIS does not replace management functions, eliminate all
risks, or increase tax liabilities.
Question 2
Which of the following is NOT a core component of an AIS?
A. People
B. Procedures and instructions
C. Data
D. Marketing strategies
Correct Answer: D
Rationale: Core AIS components include people, procedures and instructions,
data, software, IT infrastructure, and internal controls. Marketing strategies are not
a core component of an AIS but rather a function of the marketing department.
Question 3
The main goal of integrating AIS with Enterprise Resource Planning (ERP) systems is
to:
A. Eliminate all manual journal entries
B. Share data across functional areas for real-time information
,C. Remove the need for audits
D. Focus only on external reporting
Correct Answer: B
Rationale: ERP integration enables cross-functional data flow and timely reporting.
It allows different departments to share information seamlessly, improving
coordination and decision-making.
Question 4
Which business process records transactions involving customers purchasing
goods or services on credit?
A. Expenditure cycle
B. Production cycle
C. Revenue cycle
D. Financing cycle
Correct Answer: C
Rationale: The revenue cycle encompasses activities such as receiving customer
orders, shipping products, billing customers, collecting payments, and maintaining
accounts receivable.
Question 5
Which document typically initiates the revenue (sales) cycle?
, A. Purchase order
B. Receiving report
C. Customer order / sales order
D. Vendor invoice
Correct Answer: C
Rationale: A customer order triggers the sales process in the revenue cycle by
initiating the sequence of activities from order entry to cash collection.
Question 6
What is the primary objective of internal controls?
A. Maximizing sales
B. Eliminating employee responsibility
C. Safeguarding assets and ensuring reliable financial reporting
D. Increasing profits
Correct Answer: C
Rationale: The primary objective of internal controls is to safeguard assets and
ensure the reliability of financial reporting. Internal controls also promote
operational efficiency and compliance with laws and regulations.
Question 7
What is the primary purpose of a three-way match?
