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AccountingInformationSystem1st Edition
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Chapter01: AccountingaasaInformation

1) Accountingacommunicatesatoastakeholders
A) minimallyrequiredapublicafinancialadata.
B) thefinancialoutcomesofoperating,investing,a andfinancingactivities. oa




C) thesalesstrategyfortheoperating,marketing,a andsalesactivities.
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D) blackandwhitedetailsabouttheeconomicsofoperatingaa
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ctivities.Answer:aB
Diff:1
LearningObjective:a1.1Explain howaccountingaffects boththedemand forandsupplyaofi
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nformation.
SectionReference:Whyis Accounting InformationaImportant?AACSB:aCommunicatio
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n
Bloom's:
ComprehensionAICPA: rl



AC:Reporting

2) Accountingcommunicatesthefinancialoutcomesofabusiness'sactivitiesfor
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A) operating.
B) investing.
C) financing.
D) Alloftheseanswerchoicesarea
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correct.Answer:aD
Diff:1
LearningObjective:a1.1Explainhowaccountingaffects boththedemand forandsupplyaofi oa oa rl



nformation.
SectionReference:Whyis Accounting InformationaImportant?AACSB:aCommunicatio
oa oa




n
Bloom's:
ComprehensionAICPA: rl



AC:Reporting

3) Inawhatawaydoamanagementateamsuseaccountingdata?
A) Managementteamsuse accountingdatatomakebusinessdecisions.
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B) Managementteamsuseaccountingdatatomakeandexecuteplans.
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C) Managementteamsuseeconomicand accountingdatatogethertomake decisions.
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D) Alloftheseanswerchoicesarea
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correct.Answer:aD
Diff:1
LearningObjective:a1.1Explain howaccountingaffects boththedemand forandsupplyaofi
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nformation.
SectionReference:aWhyisAccountingInformationaImportant?AACSB:a
Analytic
Bloom's: Comprehension
AICPA: AC:RiskAssessment,Analysis,andManagement



1

,4) Whichstatementis TRUE?
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A) Accountingconsists ofrigidblack and whitea rules.
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B) Accountants crunchnumbers,notmakedecisions.
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C) Accountinghelpssupportaaprosperousasociety.
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D) Accountantsfocusondebitsand credits,notbusinessaa oa oa




ctivities.Answer:aC
Diff:1
LearningObjective:a1.1Explain howaccountingaffects boththedemand forandsupplyaofi oa oa oa rl



nformation.
SectionReference:WhyisAccounting InformationaImportant?AACSB:a oa




Analytic
Bloom's:
ComprehensionAICPA: rl



N/A

5) WhichofthefollowingisNOTacomponent ofa aninformation system?
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A) Hardware
B) Software
C) Input
D) Network
aAnswer:aCa

Diff:a1
LearningObjective:a1.1Explain howaccountingaffects boththedemand forandsupplyaofi oa oa oa rl



nformation.
SectionReference:WhyisAccounting InformationaImportant?AACSB:a oa




Analytic
Bloom's: Knowledge
AICPA: AC:Systemsand Process Management oa oa




6) Inputto an informationsystemconsists of
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A) rawand unorganized data.
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B) hardwareand software. oa




C) reportedainformation.
D) processeddata.
aAnswer:

AaDiff:a1
LearningObjective:a1.1Explain howaccountingaffects boththedemand forandsupplyaofi oa oa oa rl



nformation.
SectionReference:Whyis Accounting InformationaImportant?AACSB:a oa oa




Analytic
Bloom's: Knowledge
AICPA: AC:SystemsandProcessManagement

7) Whichofthefollowingis a definitionofoutputfroma aninformationsystem? a
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A) Outputis rawaand unorganizeddata.
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B) Outputisinformation produced byprocessingdata. oa




C) Output isdatabasefactsandfigures.
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D) Outputis informationacollectedfrom
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2

,users.Answer:a B




3

, Diff:1
LearningObjective:a1.1Explain howaccountingaffects boththedemand forandsupplyaofi
oa oa oa rl



nformation.
SectionReference:WhyisAccounting InformationaImportant?AACSB:a oa




Analytic
Bloom's: Comprehension
AICPA: AC:SystemsandProcessManagement

8) Whichstatement concerningdata is TRUE?
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A) Datais useless toaabusinessuntiltransformedinto information.
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B) Dataistheoutput from an informationsystem.
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C) Dataisorganizedintounderstandableformats.
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D) Dataisprocessedbeforebeinginputintotheinformationas
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ystem.Answer:aA
Diff:1
LearningObjective:a 1.1aExplain howaccounting affectsboththedemand forand supplyao
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finformation.
SectionReference:Whyis Accounting InformationaImportant?AACSB:a
oa oa




Analytic
Bloom's: Comprehension
AICPA: AC:SystemsandProcessManagement

9) Whichofthefollowingactivitieswould NOTresultina transaction inana a oa oa oa




ccountinginformationasystem?
A) Sellgoodstoacustomeronaccount
B) Purchasesuppliesoncredit
C) Prepayforsixa monthsaofainsurance
D) Receiveacustomera oa




orderAnswer:aDaDiff:
2
LearningObjective:a 1.1aExplainhowaccounting affectsboththedemand forand supplyao oa oa oa




finformation.
SectionReference:Whyis Accounting InformationaImportant?AACSB:a
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Analytic
Bloom's: Application
AICPA: AC:SystemsandProcessManagement




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