WGU D217 Accounting Information Systems
Exam Questions With Correct Answers
The |primary |input |to |the |transaction |processing |system |is |- |CORRECT |ANSWER✔✔-a |financial |
transaction
The |major |difference |between |the |financial |reporting |system |(FRS) |and |the |management |
reporting |system |(MRS) |is |the |- |CORRECT |ANSWER✔✔-FRS |provides |information |to |external |
users; |the |MRS |provides |information |to |internal |users.
The |author |distinguishes |between |the |accounting |information |system |and |the |management |
information |system |based |on |- |CORRECT |ANSWER✔✔-whether |the |transactions |are |financial |
or |nonfinancial |that |directly |affect |the |processing |of |financial |transactions
An |example |of |a |financial |transactions |is |- |CORRECT |ANSWER✔✔-the |purchase |of |computer
An |example |of |a |nonfinancial |transaction |is |- |CORRECT |ANSWER✔✔-log |of |customer |calls
The |transaction |processing |system |includes |which |of |the |following |- |CORRECT |ANSWER✔✔-
the |conversion |cycle
The |goal |of |data |processing |is |- |CORRECT |ANSWER✔✔-the |production |of |useful |information
Which |of |the |following |is |an |external |end |user? |- |CORRECT |ANSWER✔✔-tax |authorities
An |appraisal |function |housed |within |the |organization |that |performs |a |wide |range |of |services |
for |management |is |- |CORRECT |ANSWER✔✔-internal |auditing
,What |factor |conceptually |distinguishes |external |auditing |and |internal |auditing? |- |CORRECT |
ANSWER✔✔-constituents
What |system |is |part |of |the |expenditure |cycle? |- |CORRECT |ANSWER✔✔-cash |disbursements
Both |the |revenue |and |the |expenditure |cycle |can |be |viewed |as |having |two |parts. |These |key |
parts |are |- |CORRECT |ANSWER✔✔-physical |and |financial
System |flowcharts |do |which |one |of |the |following? |- |CORRECT |ANSWER✔✔-represent |
relationships |between |key |elements |of |both |manual |and |computer |systems
Which |symbol |is |used |to |represent |a |data |source |or |destination |of |documents |and |reports |in |a
|system |flowchart? |- |CORRECT |ANSWER✔✔-oval
Which |accounting |application |is |least |suited |to |batch |processing? |- |CORRECT |ANSWER✔✔-
Sales |Order |Processing
In |contrast |to |a |real-time |system, |in |a |batch |processing |system |- |CORRECT |ANSWER✔✔-there |
is |a |lag |between |the |time |when |the |economic |event |occurs, |and |the |financial |records |are |
updated.
In |contrast |to |a |batch |processing |system, |in |a |real-time |system |- |CORRECT |ANSWER✔✔-
processing |takes |place |when |the |economic |event |occurs.
The |coding |scheme |most |appropriate |for |a |chart |of |accounts |is |- |CORRECT |ANSWER✔✔-block |
code
, When |a |firm |wants |its |coding |system |to |convey |meaning |without |reference |to |any |other |
document, |it |would |choose |- |CORRECT |ANSWER✔✔-a |mnemonic |code
The |most |important |advantage |of |sequential |coding |is |that |- |CORRECT |ANSWER✔✔-missing |or
|unrecorded |documents |can |be |identified.
Li |has |implemented |a |new |accounting |information |system |(AIS) |to |help |him |manage |his |
construction |company. |Li |uses |the |information |captured |by |the |system |to |plan |each |project, |
forecasting |the |requirements |for |raw |materials |and |the |cash |flow |expected. |Which |AIS |
subsystem |helps |Li |in |planning? |- |CORRECT |ANSWER✔✔-Management |Reporting |System |
(MRS)
Which |information |does |the |management |reporting |system |(MRS) |provide? |- |CORRECT |
ANSWER✔✔-Variance |reports
Useful |information |has |the |following |characteristics: |relevance, |timeliness, |accuracy, |
completeness, |and |summarization. |What |happens |if |the |information |is |old? |- |CORRECT |
ANSWER✔✔-The |decision |maker |wastes |resources |analyzing |outdated |information.
Useful |information |has |the |following |characteristics: |relevance, |timeliness, |accuracy, |
completeness, |and |summarization. |What |happens |if |the |information |is |inaccurate? |- |CORRECT |
ANSWER✔✔-The |decision |maker |receives |materially |wrong |information.
Which |important |information |does |external |feedback |about |the |level |of |uncollected |customer |
accounts |indicate |to |the |management |information |system? |- |CORRECT |ANSWER✔✔-The |
organization |needs |to |review |its |credit-granting |policies.
What |is |a |type |of |data |source |for |the |accounting |information |system |(AIS)? |- |CORRECT |
ANSWER✔✔-Raw |material |is |moved |into |work-in |process.
Exam Questions With Correct Answers
The |primary |input |to |the |transaction |processing |system |is |- |CORRECT |ANSWER✔✔-a |financial |
transaction
The |major |difference |between |the |financial |reporting |system |(FRS) |and |the |management |
reporting |system |(MRS) |is |the |- |CORRECT |ANSWER✔✔-FRS |provides |information |to |external |
users; |the |MRS |provides |information |to |internal |users.
The |author |distinguishes |between |the |accounting |information |system |and |the |management |
information |system |based |on |- |CORRECT |ANSWER✔✔-whether |the |transactions |are |financial |
or |nonfinancial |that |directly |affect |the |processing |of |financial |transactions
An |example |of |a |financial |transactions |is |- |CORRECT |ANSWER✔✔-the |purchase |of |computer
An |example |of |a |nonfinancial |transaction |is |- |CORRECT |ANSWER✔✔-log |of |customer |calls
The |transaction |processing |system |includes |which |of |the |following |- |CORRECT |ANSWER✔✔-
the |conversion |cycle
The |goal |of |data |processing |is |- |CORRECT |ANSWER✔✔-the |production |of |useful |information
Which |of |the |following |is |an |external |end |user? |- |CORRECT |ANSWER✔✔-tax |authorities
An |appraisal |function |housed |within |the |organization |that |performs |a |wide |range |of |services |
for |management |is |- |CORRECT |ANSWER✔✔-internal |auditing
,What |factor |conceptually |distinguishes |external |auditing |and |internal |auditing? |- |CORRECT |
ANSWER✔✔-constituents
What |system |is |part |of |the |expenditure |cycle? |- |CORRECT |ANSWER✔✔-cash |disbursements
Both |the |revenue |and |the |expenditure |cycle |can |be |viewed |as |having |two |parts. |These |key |
parts |are |- |CORRECT |ANSWER✔✔-physical |and |financial
System |flowcharts |do |which |one |of |the |following? |- |CORRECT |ANSWER✔✔-represent |
relationships |between |key |elements |of |both |manual |and |computer |systems
Which |symbol |is |used |to |represent |a |data |source |or |destination |of |documents |and |reports |in |a
|system |flowchart? |- |CORRECT |ANSWER✔✔-oval
Which |accounting |application |is |least |suited |to |batch |processing? |- |CORRECT |ANSWER✔✔-
Sales |Order |Processing
In |contrast |to |a |real-time |system, |in |a |batch |processing |system |- |CORRECT |ANSWER✔✔-there |
is |a |lag |between |the |time |when |the |economic |event |occurs, |and |the |financial |records |are |
updated.
In |contrast |to |a |batch |processing |system, |in |a |real-time |system |- |CORRECT |ANSWER✔✔-
processing |takes |place |when |the |economic |event |occurs.
The |coding |scheme |most |appropriate |for |a |chart |of |accounts |is |- |CORRECT |ANSWER✔✔-block |
code
, When |a |firm |wants |its |coding |system |to |convey |meaning |without |reference |to |any |other |
document, |it |would |choose |- |CORRECT |ANSWER✔✔-a |mnemonic |code
The |most |important |advantage |of |sequential |coding |is |that |- |CORRECT |ANSWER✔✔-missing |or
|unrecorded |documents |can |be |identified.
Li |has |implemented |a |new |accounting |information |system |(AIS) |to |help |him |manage |his |
construction |company. |Li |uses |the |information |captured |by |the |system |to |plan |each |project, |
forecasting |the |requirements |for |raw |materials |and |the |cash |flow |expected. |Which |AIS |
subsystem |helps |Li |in |planning? |- |CORRECT |ANSWER✔✔-Management |Reporting |System |
(MRS)
Which |information |does |the |management |reporting |system |(MRS) |provide? |- |CORRECT |
ANSWER✔✔-Variance |reports
Useful |information |has |the |following |characteristics: |relevance, |timeliness, |accuracy, |
completeness, |and |summarization. |What |happens |if |the |information |is |old? |- |CORRECT |
ANSWER✔✔-The |decision |maker |wastes |resources |analyzing |outdated |information.
Useful |information |has |the |following |characteristics: |relevance, |timeliness, |accuracy, |
completeness, |and |summarization. |What |happens |if |the |information |is |inaccurate? |- |CORRECT |
ANSWER✔✔-The |decision |maker |receives |materially |wrong |information.
Which |important |information |does |external |feedback |about |the |level |of |uncollected |customer |
accounts |indicate |to |the |management |information |system? |- |CORRECT |ANSWER✔✔-The |
organization |needs |to |review |its |credit-granting |policies.
What |is |a |type |of |data |source |for |the |accounting |information |system |(AIS)? |- |CORRECT |
ANSWER✔✔-Raw |material |is |moved |into |work-in |process.
