Test Bank For Accounting Information Systems 10e Ulric Gelinas Richard Dull Patrick Wheeler

Test Bank For Accounting Information Systems 10e Ulric Gelinas Richard Dull Patrick Wheeler-The three themes of the text are operating systems, e-business, and internal control. ANS: F PTS: 1 2. It is critical for accountants to understand enterprise resource planning (ERP) systems. ANS: T PTS: 1 3. Information systems reliability and electronic commerce have been identified by the AICPA as potential assurance services. ANS: T PTS: 1 4. E-business is the application of electronic networks to undertake business processes among the functional areas in an organization. ANS: F PTS: 1 5. The role of the accountant has evolved to include non-financial information and information technology. ANS: T PTS: 1 6. Enterprise systems integrate an organization's business processes and information from all of an organization's functional areas. ANS: T PTS: 1 7. An information system consists of an integrated set of computer-based and manual components established to provide information to users. ANS: T PTS: 1 8. Internal control is a process that provides complete assurance that the organization is meeting its objectives, such as efficiency and effectiveness of operations and reliable reporting. ANS: F PTS: 1 9. The Sarbanes-Oxley Act of 2002 has dramatically changed the daily work of financial accountants and auditors. ANS: T PTS: 1 10. According to the Sarbanes-Oxley Act of 2002, management must identify, document, and evaluate significant internal controls. ANS: T PTS: 1 11. According to the Sarbanes-Oxley Act of 2002 and PCAOB Auditing Standard No. 5, management must audit and report on auditors' assertions about the organizations' systems of internal controls. ANS: F PTS: 1 12. According to the Sarbanes-Oxley Act's Section 409, material changes in the organization's financial condition must be disclosed to the public on a rapid and current basis. ANS: T PTS: 1 13. The Sarbanes-Oxley Act's Section 404 creates changes in both how companies document and evaluate internal control and how auditors audit and report on internal control. ANS: T PTS: 1 14. Sarbanes-Oxley Section 404 compliance is a major line of business for the biggest accounting firms. ANS: T PTS: 1 15. The Sarbanes Oxley Act of 2002 applies to publicly traded companies and not-for-profit entities. ANS: F PTS: 1 16. Historically the purpose of an accounting information system is to collect, process, and report financial aspects of business events. ANS: T PTS: 1 17. The MIS is a subsystem of the AIS. ANS: F PTS: 1 18. Sales/marketing information system is traditionally part of the AIS. ANS: F PTS: 1 19. Billing/accounts receivable is traditionally part of the AIS. ANS: T PTS: 1 20. Production and personnel are part of the operations process. ANS: T PTS: 1 21. The management process includes marketing and sales. ANS: F PTS: 1 22. Information that is capable of making a difference in a decision-making situation, by reducing uncertainty or increasing knowledge for that particular decision, has the quality of relevance. ANS: T PTS: 1 23. Information about a customer's credit history that is received after the decision to grant additional credit lacks completeness. ANS: F PTS: 1 24. The consistency principle is violated when a firm uses straight-line depreciation one year and changes to declining balance depreciation the next year. ANS: T PTS: 1 25. Accuracy is the correspondence or agreement between the information and the actual events or objects that the information represents. ANS: T PTS: 1