Question 1

Processes are related activities or events that create value.

Accepted Answer

A) True 
 B)False

Question 2

When looking at an accounting system using the zoom view, you see

Accepted Answer

A) An enterprise-wide view of an organization showing the entire accounting system 
B) Information available on the tax reports for the Internal Revenue Service and other tax agencies 
C) Detailed information recorded in the accounting system 
D) Accounting information available to internal users, primarily management 
A) An enterprise-wide view of an organization showing the entire accounting system 
B) Information available on the tax reports for the Internal Revenue Service and other tax agencies 
C) Detailed information recorded in the accounting system 
D) Accounting information available to internal users, primarily management

Question 3

The Vendors module in the Baseline Accounting System corresponds to which transaction cycle?

Accepted Answer

A) Sales cycle 
B) Financial cycle 
C) Payroll cycle 
D) Purchasing cycle 
A) Sales cycle 
B) Financial cycle 
C) Payroll cycle 
D) Purchasing cycle

Question 4

An event that does not involve an exchange, for example accrued interest expense, does not need to be recorded in the accounting system.

Accepted Answer

A) True 
 B)False

Question 5

What modules comprise a baseline accounting system?

Accepted Answer

A) Vendors, Employees, Sales, Banking, Financial, and Reports 
B) Inventory, Employees, Sales, Banking, Financial, and Reports 
C) Inventory, Employees, Sales, Banking, Accounting, and Reports 
D) Vendors, Employees, Customers, Banking, Financial, and Reports 
A) Vendors, Employees, Sales, Banking, Financial, and Reports 
B) Inventory, Employees, Sales, Banking, Financial, and Reports 
C) Inventory, Employees, Sales, Banking, Accounting, and Reports 
D) Vendors, Employees, Customers, Banking, Financial, and Reports

Question 6

The Banking Module of a baseline accounting system includes bill paying transactions.

Accepted Answer

A) True 
 B)False

Question 7

Match the following cycles with their corresponding accounting system module.
-Financial Cycle

Accepted Answer

A) Customers Module 
B) Vendors Module 
C) Banking Module 
D) Financial Module 
E) Employees Module 
A) Customers Module 
B) Vendors Module 
C) Banking Module 
D) Financial Module 
E) Employees Module

Question 8

Match the following accounting cycles to the appropriate subsystems.
-Purchasing Cycle

Accepted Answer

A) Operations/Production System 
B) Supply Chain Management 
C) Customer Relationship Management 
A) Operations/Production System 
B) Supply Chain Management 
C) Customer Relationship Management

Question 9

In an accounting system database, which field belongs in a table containing customer information?

Accepted Answer

A) Street Address 
B) Cost 
C) Item Number 
D) Invoice Number 
A) Street Address 
B) Cost 
C) Item Number 
D) Invoice Number

Question 10

Match the following cycles with their corresponding accounting system module.
-Purchasing Cycle

Accepted Answer

A) Customers Module 
B) Vendors Module 
C) Banking Module 
D) Financial Module 
E) Employees Module 
A) Customers Module 
B) Vendors Module 
C) Banking Module 
D) Financial Module 
E) Employees Module

Question 11

Which of the following statements about data warehouses is false?

Accepted Answer

A) Data warehouses store vast amounts of enterprise data. 
B) Data warehouses permit extensive data analytics to provide business intelligence tools for improved decision quality. 
C) Data warehouses store current and historical data. 
D) Data warehouses are not considered an information asset and do not need to be safeguarded. 
A) Data warehouses store vast amounts of enterprise data. 
B) Data warehouses permit extensive data analytics to provide business intelligence tools for improved decision quality. 
C) Data warehouses store current and historical data. 
D) Data warehouses are not considered an information asset and do not need to be safeguarded.

Question 12

Which of the following processes are performed in the Designing Phase of the SDLC?

Accepted Answer

A) Identify the new business processes 
B) Install the new system 
C) Test the new system 
D) Identify the new requirements for the system 
A) Identify the new business processes 
B) Install the new system 
C) Test the new system 
D) Identify the new requirements for the system

Question 13

The Value Chain begins with which activity?

Accepted Answer

A) Selling items to customers 
B) Creating the products 
C) Purchasing items from vendors 
D) Providing support to customers 
A) Selling items to customers 
B) Creating the products 
C) Purchasing items from vendors 
D) Providing support to customers

Question 14

What may be classified as an information asset? Please provide an example.

Accepted Answer

Data contained in the information system

Question 15

What is the purpose of Enterprise Resource Planning (ERP)software?

Accepted Answer

A) Help identify the end of a product's life cycle 
B) Identify new trends in consumer purchasing 
C) Analyze an organization's sales projections 
D) Help managers control organizational resources 
A) Help identify the end of a product's life cycle 
B) Identify new trends in consumer purchasing 
C) Analyze an organization's sales projections 
D) Help managers control organizational resources

Question 16

The following field names are part of a table for a company's inventory. Which field name could be the primary key for this table?

Accepted Answer

A) Sales Prices 
B) Cost 
C) Item ID 
D) Vendor ID 
A) Sales Prices 
B) Cost 
C) Item ID 
D) Vendor ID

Question 17

In a relational database, how are tables connected?

Accepted Answer

A) By a query statement 
B) By network addresses 
C) By the tables names 
D) By fields that are common in two or more tables 
A) By a query statement 
B) By network addresses 
C) By the tables names 
D) By fields that are common in two or more tables

Question 18

To obtain a deep understanding of the underlying business of an enterprise system servers, you need to ask key questions. What are those questions?

Accepted Answer

- How does the enterprise create value?

Question 19

IFRS is an acronym for

Accepted Answer

A) Integrated Financial Reporting Services 
B) International Financial Reporting Standards 
C) Integrated Federal Recording Standards 
D) International Financial Regulated Services 
A) Integrated Financial Reporting Services 
B) International Financial Reporting Standards 
C) Integrated Federal Recording Standards 
D) International Financial Regulated Services

Question 20

Identify the people involved in an accounting system. What type of transactions do they generate?

Accepted Answer

Vendors - Purchase transactions resultin

Processes are related activities or events that create value.

When looking at an accounting system using the zoom view, you see

The Vendors module in the Baseline Accounting System corresponds to which transaction cycle?

An event that does not involve an exchange, for example accrued interest expense, does not need to be recorded in the accounting system.

What modules comprise a baseline accounting system?

The Banking Module of a baseline accounting system includes bill paying transactions.

Match the following cycles with their corresponding accounting system module. -Financial Cycle

Match the following accounting cycles to the appropriate subsystems. -Purchasing Cycle

In an accounting system database, which field belongs in a table containing customer information?

Match the following cycles with their corresponding accounting system module. -Purchasing Cycle

Which of the following statements about data warehouses is false?

Which of the following processes are performed in the Designing Phase of the SDLC?

The Value Chain begins with which activity?

What may be classified as an information asset? Please provide an example.

What is the purpose of Enterprise Resource Planning (ERP)software?

The following field names are part of a table for a company's inventory. Which field name could be the primary key for this table?

In a relational database, how are tables connected?

To obtain a deep understanding of the underlying business of an enterprise system servers, you need to ask key questions. What are those questions?

IFRS is an acronym for

Identify the people involved in an accounting system. What type of transactions do they generate?

Accounting Databases

Accounting Interface: Database Forms, Queries, and Reports

Accounting Systems and Business Processes

Business Processes: Purchasing, Sales, and Payroll Cycles

Integrated Enterprise Systems and Cloud Computing

Accounting and Business Intelligence

Accounting and Sustainability Intelligence

XBRL: Intelligent Business Reporting

Fraud and Internal Control

Cybersecurity

The Risk Intelligent Enterprise: Enterprise Risk Management

Accounting System Development

Database Design: ERD, REA, and SQL

Filters

Exam 1: Accounting Systems Insights

Processes are related activities or events that create value.

When looking at an accounting system using the zoom view, you see

The Vendors module in the Baseline Accounting System corresponds to which transaction cycle?

An event that does not involve an exchange, for example accrued interest expense, does not need to be recorded in the accounting system.

What modules comprise a baseline accounting system?

The Banking Module of a baseline accounting system includes bill paying transactions.

Match the following cycles with their corresponding accounting system module. -Financial Cycle

Match the following accounting cycles to the appropriate subsystems. -Purchasing Cycle

In an accounting system database, which field belongs in a table containing customer information?

Match the following cycles with their corresponding accounting system module. -Purchasing Cycle

Which of the following statements about data warehouses is false?

Which of the following processes are performed in the Designing Phase of the SDLC?

The Value Chain begins with which activity?

What may be classified as an information asset? Please provide an example.

What is the purpose of Enterprise Resource Planning (ERP)software?

The following field names are part of a table for a company's inventory. Which field name could be the primary key for this table?

In a relational database, how are tables connected?

To obtain a deep understanding of the underlying business of an enterprise system servers, you need to ask key questions. What are those questions?

IFRS is an acronym for

Identify the people involved in an accounting system. What type of transactions do they generate?

Accounting Databases

Accounting Interface: Database Forms, Queries, and Reports

Accounting Systems and Business Processes

Business Processes: Purchasing, Sales, and Payroll Cycles

Integrated Enterprise Systems and Cloud Computing

Accounting and Business Intelligence

Accounting and Sustainability Intelligence

XBRL: Intelligent Business Reporting

Fraud and Internal Control

Cybersecurity

The Risk Intelligent Enterprise: Enterprise Risk Management

Accounting System Development

Database Design: ERD, REA, and SQL

Filters