Accounting Information Systems Connecting Careers, Systems and Analytics, 1st Edition

Accounting Information Systems, 1e (Savage) Chapter 1 Accounting as Information 1) Accounting communicates to stakeholders A) minimally required public financial data. B) the financial outcomes of operating, investing, and financing activities. C) the sales strategy for the operating, marketing, and sales activities. D) black and white details about the economics of operating activities. Answer: B Diff: 1 Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of information. Section Reference: Why is Accounting Information Important? AACSB: Communication Bloom's: Comprehension AICPA: AC: Reporting 2) Accounting communicates the financial outcomes of a business's activities for A) operating. B) investing. C) financing. D) All of these answer choices are correct. Answer: D Diff: 1 Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of information. Section Reference: Why is Accounting Information Important? AACSB: Communication Bloom's: Comprehension AICPA: AC: Reporting 3) In what way do management teams use accounting data? A) Management teams use accounting data to make business decisions. B) Management teams use accounting data to make and execute plans. C) Management teams use economic and accounting data together to make decisions. D) All of these answer choices are correct. Answer: D Diff: 1 Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of information. Section Reference: Why is Accounting Information Important? AACSB: Analytic Bloom's: Comprehension AICPA: AC: Risk Assessment, Analysis, and Management