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Exam (elaborations)
ACTG 313 Exam 2 Questions With Correct Answers 100% Verified.
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---9February 20252024/2025A+
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ACTG 313 Exam 2 Questions With Correct 
Answers 100% Verified. 
Why document systems? - Answer-Accountants must be able to read documentation and 
understand how a system works (e.g., auditors need to assess risk) 
-Sarbanes-Oxley Act (SOX) requires management to assess internal controls and auditors to 
evaluate the assessment 
-Used for systems development and changes 
business process diagrams - Answer-visual way to represent act...
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Exam (elaborations)
ACTG 313 Test Exam Questions With Correct Answers 100% Verified.
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--223February 20252024/2025A+
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ACTG 313 Test Exam Questions With 
Correct Answers 100% Verified. 
1.1 Information is best described as 
a)raw facts about transactions. 
b)A set of related, coordinated, and structured data. 
c)facts that are collected, recorded, stored, and processed by an information system. 
d)data that have been organized and processed to provide meaning and improve decision 
making. - Answerd)data that have been organized and processed to prov...
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Exam (elaborations)
ACTG 313 Final Exam Questions With Correct Answers 100% Verified.
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---36February 20252024/2025A+
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ACTG 313 Final Exam Questions With 
Correct Answers 100% Verified. 
Data - Answerfacts collected, recorded, and stored in the system 
Information - AnswerData converted into a meaningful and useful context 
Example of data - Answer2/22/14 
ABC Company 
123, 99, 3, 20, 60 
Example of information - Answerbest-selling product, best customer, worst-selling product, 
worst customer 
Decision Quality - Answer• Information helps us make ...
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Exam (elaborations)
ACTG 313 Chapter 7+ Test Questions With Correct Answers 100% Verified.
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---34February 20252024/2025A+
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ACTG 313 Chapter 7+ Test Questions With 
Correct Answers 100% Verified. 
7-1.1 What is the name of the law that Congress passed to prevent financial statement fraud, 
make financial reports more transparent, protect investors, strengthen internal controls, and 
punish executives who perpetrate fraud? 
a)COSO ERM Act 
b)COBIT Act 
c)Foreign Corrupt Practices Act 
d)Sarbanes Oxley Act 
e)COSO Internal Control Act - Answerd 
7-1.2 What...
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Exam (elaborations)
ACTG 313 Practice Question With Correct Answers 100% Verified.
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---11February 20252024/2025A+
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ACTG 313 Practice Question With Correct 
Answers 100% Verified. 
A management information system - Answersupports the operations, management, and 
decision-making functions in an organization 
What s false about AIS? - AnswerAn AIS is best suited to solve problems where there is great 
uncertainty and ill-defined reporting requirements 
Your firm has recently converted its purchasing cycle from a manual process to an online 
compute...
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