mi mi mi
s Test Bank for Accounting Information Systems, 1st E
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dition by Arline A. Savage Latest 2024
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Test Bank
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,Created By: Test Bank
mi mi mi
s Test Bank for Accounting Information Systems, 1st E
mi mi mi mi mi mi mi
dition by Arline A. Savage Latest 2024
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Chapter 01: Accounting as Information
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1) Accounting communicates to stakeholders mi mi mi
A) minimally required public financial data.
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B) the financial outcomes of operating, investing, and financing activities.
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C) the sales strategy for the operating, marketing, and sales activities.
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D) black and white details about the economics of operating activities. Answer:
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B Diff: 1
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Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inf
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ormation.
Section Reference: Why is Accounting Information Important? AACSB: Communication Bloo
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m's: Comprehension AICPA: AC: Reporting
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2) Accounting communicates the financial outcomes of a business's activities for
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A) operating.
B) investing.
C) financing.
D) All of these answer choices are correct. Answer:
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D Diff: 1
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Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inf
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ormation.
Section Reference: Why is Accounting Information Important? AACSB: Communication Bloo
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m's: Comprehension AICPA: AC: Reporting
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3) In what way do management teams use accounting data?
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A) Management teams use accounting data to make business decisions.
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B) Management teams use accounting data to make and execute plans.
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C) Management teams use economic and accounting data together to make decisions.
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D) All of these answer choices are correct. Answer: D
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mi mi mi
s Test Bank for Accounting Information Systems, 1st E
mi mi mi mi mi mi mi
dition by Arline A. Savage Latest 2024
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Diff: 1 mi
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inf
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ormation.
Section Reference: Why is Accounting Information Important? AACSB: Analytic Bloo
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m's: Comprehension
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AICPA: AC: Risk Assessment, Analysis, and Management
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4) Which statement is TRUE?
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A) Accounting consists of rigid black and white rules.
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B) Accountants crunch numbers, not make decisions.
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C) Accounting helps support a prosperous society.
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D) Accountants focus on debits and credits, not business activities. Answer:
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C Diff: 1
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Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inf
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ormation.
Section Reference: Why is Accounting Information Important? AACSB: Analytic Bloo
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m's: Comprehension AICPA: N/A
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5) Which of the following is NOT a component of an information system?
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A) Hardware
B) Software
C) Input
D) Network Answer: C Diff: 1mi mi mi mi
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply of inf
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ormation.
Section Reference: Why is Accounting Information Important? AACSB: Analytic Bloo
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m's: Knowledge
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AICPA: AC: Systems and Process Management
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, Created By: Test Bank
mi mi mi
s Test Bank for Accounting Information Systems, 1st E
mi mi mi mi mi mi mi
dition by Arline A. Savage Latest 2024
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6) Input to an information system consists of
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A) raw and unorganized data.
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