ACCT 3543 AIS
Exam Chapters 1
Through 5
Richardson Edition
Complete Review
Guide 2026 2027
with Verified
Questions and
Correct Answers
, 1 An accounting information system is defined as - correct answer = a system that records,
m m m m m m m m m m m m m m m m
processes, summarizes and reports on business transactions to provide financial and m m m m m m m m m m m
nonfinancial information to facilitate decision making m m m m m
2.Benefits of enterprise system or enterprise resource planning - correct answer = a
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centralized database that collects data from throughout the firm m m m m m m m m m
Can significantly lower the cost of support processes included in sales, general and admin
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expenses
m3. As business analysts and info providers, accountants understand what data is needed to
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solve a problem and are, thus, in a unique position to serve as a ____ of accounting
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information systems - correct answer = designer m m m m m m
Certified Information Systems Auditor (CISA) - correct answer = professionals in IT audit,
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control, and security skills m m m
(will perform IT audits to evaluate the accounting info system's internal control design)
m m m m m m m m m m m m
m Information - correct answer = data organized in a meaningful way to be useful to the user m m m m m m m m m m m m m m m m
mdata - correct answer = raw facts that describe the characteristics of an event that, in
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isolation, have little meaning m m m
m Discretionary Information - correct answer = information that is generated according to one's m m m m m m m m m m m m
m own judgement m
mManagerial accounting information (activity based costing) is generally produced for m m m m m m m m m m
internal information purposes and would be considered - correct answer = discretionary
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information
Mandatory Information - correct answer = information that is required to be generated or
m m m m m m m m m m m m m m m
provided by law or regulation m m m m m
(usually produced at the lowest possible cost to comply with the laws and regulators)
m m m m m m m m m m m m m
a corporate tax return and information produced for investors, banks, the SEC and the IRS
m m m m m m m m m m m m m m m m
would be considered to be - correct answer = mandatory info
m m m m m m m m m m
m because discretionary info is not required, - correct answer = management must determine if
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m the benefits of receiving that info are greater than the costs of producing it
m m m m m m m m m m m m m
m Storage - correct answer = recorded transactions that are saved in the cloud
m m m m m m m m m m m m
m input - correct answer = sales recorded in a cash register or point of sale terminal
m m m m m m m m m m m m m m m
m output - correct answer = a monthly sales report produced by an IS
m m m m m m m m m m m m
Exam Chapters 1
Through 5
Richardson Edition
Complete Review
Guide 2026 2027
with Verified
Questions and
Correct Answers
, 1 An accounting information system is defined as - correct answer = a system that records,
m m m m m m m m m m m m m m m m
processes, summarizes and reports on business transactions to provide financial and m m m m m m m m m m m
nonfinancial information to facilitate decision making m m m m m
2.Benefits of enterprise system or enterprise resource planning - correct answer = a
m m m m m m m m m m m m m m
centralized database that collects data from throughout the firm m m m m m m m m m
Can significantly lower the cost of support processes included in sales, general and admin
m m m m m m m m m m m m m m
expenses
m3. As business analysts and info providers, accountants understand what data is needed to
m m m m m m m m m m m m m m
solve a problem and are, thus, in a unique position to serve as a ____ of accounting
m m m m m m m m m m m m m m m m m
information systems - correct answer = designer m m m m m m
Certified Information Systems Auditor (CISA) - correct answer = professionals in IT audit,
m m m m m m m m m m m m m m
control, and security skills m m m
(will perform IT audits to evaluate the accounting info system's internal control design)
m m m m m m m m m m m m
m Information - correct answer = data organized in a meaningful way to be useful to the user m m m m m m m m m m m m m m m m
mdata - correct answer = raw facts that describe the characteristics of an event that, in
m m m m m m m m m m m m m m m m
isolation, have little meaning m m m
m Discretionary Information - correct answer = information that is generated according to one's m m m m m m m m m m m m
m own judgement m
mManagerial accounting information (activity based costing) is generally produced for m m m m m m m m m m
internal information purposes and would be considered - correct answer = discretionary
m m m m m m m m m m m m
information
Mandatory Information - correct answer = information that is required to be generated or
m m m m m m m m m m m m m m m
provided by law or regulation m m m m m
(usually produced at the lowest possible cost to comply with the laws and regulators)
m m m m m m m m m m m m m
a corporate tax return and information produced for investors, banks, the SEC and the IRS
m m m m m m m m m m m m m m m m
would be considered to be - correct answer = mandatory info
m m m m m m m m m m
m because discretionary info is not required, - correct answer = management must determine if
m m m m m m m m m m m m m
m the benefits of receiving that info are greater than the costs of producing it
m m m m m m m m m m m m m
m Storage - correct answer = recorded transactions that are saved in the cloud
m m m m m m m m m m m m
m input - correct answer = sales recorded in a cash register or point of sale terminal
m m m m m m m m m m m m m m m
m output - correct answer = a monthly sales report produced by an IS
m m m m m m m m m m m m
