ACG 3401 EXAM 1 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. system
Answer:
A __ is a set of interdependent elements that together accomplish specific objectives.
Question:
2. collect, store, manage, information
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
Question:
3. recording, summarizing,
Answer:
What is accounting? Accounting is the system of ___ and ___ business and financial transactions and
analyzing, verifying, and reporting the results.
Question:
4. collects, records, stores, processes data, information, decision-making.
Answer:
An accounting information system (AIS) is a system (set of interdependent elements) that ___ & ___, ___,
and ___ ___ to produce ___for ___ ___.
Question:
5. integrates core functional areas into one
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).
Question:
6. People, Policies and Procedures, Data, Software, IT infrastructure, Internal Controls
Answer:
What are the components of an AIS? 1. 2. 3. 4. 5. 6.
Question:
7. Operations and Management The AIS and its components fulfill two important business
Answer:
functions:
Question:
8. effectively, efficiently
, Answer:
Operations: Complete the operations of the business __ and __
Question:
9. make decisions, stewardship of resources
Answer:
Management: Transform data to information so management can plan, execute, control, and evaluate - ___
___ - and provide controls to safeguard organization's assets and data - ___ ___ ___ Tactical: Strategic:
Question:
10. raw facts, events, resources, agents
Answer:
Data: ___ ___; measurements or observations of activities (_______) and the affected objects (__________)
as well as the people (_________)
Question:
11. useful, decision-making
Answer:
Information: data presented in a form that is ___ in a ___ ___ activity
Question:
12. Identify the problem, Identify the alternatives, gather data/info about alternatives, make a decision,
implement, evaluate, and learn
Answer:
Steps in decision Making; 1. 2. 3. 4. 5.
Question:
13. Structure, Scope
Answer:
Types of Decisions: __ and __
Question:
14. Input, Process<->Storage, Output
Answer:
The IPO Model
Question:
15. operations
Answer:
The ___ process is a man-made system consisting of the people, equipment, organization, policies, and
procedures whose objectives is to accomplish the work of the organization.
Question:
16. management
CORRECT ANSWERS
Question:
1. system
Answer:
A __ is a set of interdependent elements that together accomplish specific objectives.
Question:
2. collect, store, manage, information
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
Question:
3. recording, summarizing,
Answer:
What is accounting? Accounting is the system of ___ and ___ business and financial transactions and
analyzing, verifying, and reporting the results.
Question:
4. collects, records, stores, processes data, information, decision-making.
Answer:
An accounting information system (AIS) is a system (set of interdependent elements) that ___ & ___, ___,
and ___ ___ to produce ___for ___ ___.
Question:
5. integrates core functional areas into one
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).
Question:
6. People, Policies and Procedures, Data, Software, IT infrastructure, Internal Controls
Answer:
What are the components of an AIS? 1. 2. 3. 4. 5. 6.
Question:
7. Operations and Management The AIS and its components fulfill two important business
Answer:
functions:
Question:
8. effectively, efficiently
, Answer:
Operations: Complete the operations of the business __ and __
Question:
9. make decisions, stewardship of resources
Answer:
Management: Transform data to information so management can plan, execute, control, and evaluate - ___
___ - and provide controls to safeguard organization's assets and data - ___ ___ ___ Tactical: Strategic:
Question:
10. raw facts, events, resources, agents
Answer:
Data: ___ ___; measurements or observations of activities (_______) and the affected objects (__________)
as well as the people (_________)
Question:
11. useful, decision-making
Answer:
Information: data presented in a form that is ___ in a ___ ___ activity
Question:
12. Identify the problem, Identify the alternatives, gather data/info about alternatives, make a decision,
implement, evaluate, and learn
Answer:
Steps in decision Making; 1. 2. 3. 4. 5.
Question:
13. Structure, Scope
Answer:
Types of Decisions: __ and __
Question:
14. Input, Process<->Storage, Output
Answer:
The IPO Model
Question:
15. operations
Answer:
The ___ process is a man-made system consisting of the people, equipment, organization, policies, and
procedures whose objectives is to accomplish the work of the organization.
Question:
16. management
