Test Bank for Accounting Information Systems, 1st Edition by Arline A. Savage Latest 2024

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Banks

Test Bank for Accounting Information Systems, 1st
Edition by Arline A. Savage Latest 2024
Chapter0401:04Accounting04as04Information
1) Accounting04communicates04to04stakeholders
A) minimally04required04public04financial04data.
B) the04financial04outcomes04of04operating,04investing,04and04financing04activities.
C) the04sales04strategy04for04the04operating,04marketing,04and04sales04activities.
D) black04and04white04details04about04the04economics04of04operating04activ
ities.04Answer:04B04Diff:041
Learning04Objective:041.104Explain04how04accounting04affects04both04the04demand04for04
and04supply04of04information.
Section04Reference:04Why04is04Accounting04Information04Important?04AACSB:04Commun
ication04Bloom's:04Comprehension04AICPA:04AC:04Reporting


2) Accounting04communicates04the04financial04outcomes04of04a04business's04activities
04for
A) operating.
B) investing.
C) financing.
D) All04of04these04answer04choices04are04correct.
04Answer:04D04Diff:041
Learning04Objective:041.104Explain04how04accounting04affects04both04the04demand04for04
and04supply04of04information.
Section04Reference:04Why04is04Accounting04Information04Important?04AACSB:04Commun
ication04Bloom's:04Comprehension04AICPA:04AC:04Reporting


3) In04what04way04do04management04teams04use04accounting04data?
A) Management04teams04use04accounting04data04to04make04business04decisions.
B) Management04teams04use04accounting04data04to04make04and04execute04plans.
C) Management04teams04use04economic04and04accounting04data04together04to04make0
4decisions.
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D) All04of04these04answer04choices04are04correct.04Answer:04D




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Diff:041
Learning04Objective:041.104Explain04how04accounting04affects04both04the04demand04for04
and04supply04of04information.
Section04Reference:04Why04is04Accounting04Information04Important?04AACSB:04A
nalytic04Bloom's:0 4 Comprehension
AICPA:0 4 AC:04Risk04Assessment,04Analysis,04and04Management


4) Which04statement04is04TRUE?
A) Accounting04consists04of04rigid04black04and04white04rules.
B) Accountants04crunch04numbers,04not04make04decisions.
C) Accounting04helps04support04a04prosperous04society.
D) Accountants04focus04on04debits04and04credits,04not04business04activit
ies.04Answer:04C04Diff:041
Learning04Objective:041.104Explain04how04accounting04affects04both04the04demand04for04
and04supply04of04information.
Section04Reference:04Why04is04Accounting04Information04Important?04AACSB:04A
nalytic04Bloom's:04Comprehension04AICPA:04N/A


5) Which04of04the04following04is04NOT04a04component04of04an04information04syste
m?
A) Hardware
B) Software
C) Input
D) Network04Answer:04C04Diff:041
Learning04Objective:041.104Explain04how04accounting04affects04both04the04demand04for04
and04supply04of04information.
Section04Reference:04Why04is04Accounting04Information04Important?04AACSB:04A
nalytic04Bloom's:0 4 Knowledge
AICPA:0 4 AC:04Systems04and04Process04Management


6) Input04to04an04information04system04consists04of
A) raw04and04unorganized04data.
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B) hardware04and04software.
C) reported04information.
D) processed04da
ta.
Answer:0 4 A
Diff:041
Learning04Objective:041.104Explain04how04accounting04affects04both04the04demand04for04
and04supply04of04information.
Section04Reference:04Why04is04Accounting04Information04Important?04AACSB:04A
nalytic04Bloom's:0 4 Knowledge
AICPA:0 4 AC:04Systems04and04Process04Management
7) Which04of04the04following04is04a04definition04of04output04from04an04information
04system?
A) Output04is04raw04and04unorganized04data.
B) Output04is04information04produced04by04processing04data.
C) Output04is04database04facts04and04figures.
D) Output04is04information04collected04from04users.04Answer:04B


Diff:041
Learning04Objective:041.104Explain04how04accounting04affects04both04the04demand04for04
and04supply04of04information.
Section04Reference:04Why04is04Accounting04Information04Important?04AACSB:04A
nalytic04Bloom's:0 4 Comprehension
AICPA:0 4 AC:04Systems04and04Process04Management


8) Which04statement04concerning04data04is04TRUE?
A) Data04is04useless04to04a04business04until04transformed04into04information.
B) Data04is04the04output04from04an04information04system.
C) Data04is04organized04into04understandable04formats.
D) Data04is04processed04before04being04input04into04the04information04sy
stem.04Answer:04A04Diff:041
Learning04Objective:041.104Explain04how04accounting04affects04both04the04demand04for04

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