Question 1

Discuss the seven characteristics of useful information.

Accepted Answer

The answer of Discuss the seven characteristics of useful information....

Question 2

Budgeting and human resource practices are examples of

Accepted Answer

A) operational control 
B) management control 
C) strategic planning 
D) tactical planning

Question 3

Harvard professor Michael Porter contends that for a company to be successful in the long run it "must deliver greater value to customers or create comparable value at a lower cost,or do both" and suggests three strategic positions.Describe these strategic positions.How do these strategic positions relate to financial and managerial accounting information given?

Accepted Answer

The answer of Harvard professor Michael Porter contends that for...

Question 4

A strategic position is important to the success and growth of any organization.Harvard professor Michael Porter has identified three basic strategic positions.Which statement below is false regarding these basic strategic positions?

Accepted Answer

A) The three basic strategic positions are mutually exclusive of each other. 
B) Part of a needs-based strategic position is to identify a target market. 
C) An access-based strategic position involves serving a subset of customers who differ from other customers in terms of geographic location or size. 
D) A variety-based strategic position involves producing or providing a subset of the industry's products or services.

Question 5

How can an AIS become part of the firm's value chain and add value to the business?

Accepted Answer

The answer of How can an AIS become part of...

Question 6

Define data,information,and how the value of information is determined.

Accepted Answer

The answer of Define data,information,and how the value of information...

Question 7

An accounting information system (AIS)processes __________ to provide users with __________.

Accepted Answer

A) data; information 
B) data; transactions 
C) information; data 
D) data; benefits

Question 8

Data are

Accepted Answer

A) facts entered,stored,and processed by an information system. 
B) processed output that is useful to decision makers. 
C) another word for information. 
D) quantitative facts that are not qualitative by nature.

Question 9

Robinson Crusoe has formed a business that sells carved gourmet coconuts.He has hired five employees.The most senior is Friday,who manages the carving process.Monday is the newest employee.She collects the coconuts.Tuesday,as you might expect,takes calls from curstomers,oops,I mean customers,who are unhappy with their coconuts.Wednesday tosses finished coconuts into the sea,whereupon they drift to the wholesaler.Thursday sends smoke signals to the wholesaler extolling the virtues of the latest production run of nuts that are drifting across the bay. Which of the following functions in the value chain is Thursday performing?

Accepted Answer

A) Inbound logistics 
B) Operations 
C) Outbound logistics 
D) Marketing and sales 
E) Service

Question 10

The primary objective of accounting is to

Accepted Answer

A) implement strong internal controls. 
B) provide useful information to decision makers. 
C) prepare financial statements. 
D) ensure the profitability of an organization.

Question 11

An AIS is a system of six interrelated components that interact to achieve a goal.One of these components,which includes both manual and automated activities that involve collecting,processing,and storing data,is known as

Accepted Answer

A) Information or data 
B) Procedures and instructions 
C) Software 
D) Information technology infrastructure

Question 12

Robinson Crusoe has formed a business that sells carved gourmet coconuts.He has hired five employees.The most senior is Friday,who manages the carving process.Monday is the newest employee.She collects the coconuts.Tuesday,as you might expect,takes calls from curstomers,oops,I mean customers,who are unhappy with their coconuts.Wednesday tosses finished coconuts into the sea,whereupon they drift to the wholesaler.Thursday sends smoke signals to the wholesaler extolling the virtues of the latest production run of nuts that are drifting across the bay. Which of the following functions in the value chain is Wednesday performing?

Accepted Answer

A) Inbound logistics 
B) Operations 
C) Outbound logistics 
D) Marketing and sales 
E) Service

Question 13

An accounting information system in part consists of

Accepted Answer

A) People,hardware and programs. 
B) Information,programs and computers. 
C) People,procedures,data,software and information technology infrastructure. 
D) Internal controls and accounting records.

Question 14

A good example of how an AIS is used to share knowledge within an organization is

Accepted Answer

A) the use of an expert system to help staff identify the relevant experts who can help with a particular client. 
B) the use of laptop computers to access a network for messaging worldwide. 
C) the monitoring of production equipment to watch for defects. 
D) the use of point-of-sale data to determine hot-selling items.

Question 15

A variety-based strategic position involves

Accepted Answer

A) trying to serve most or all of the needs of a particular group of customers. 
B) serving a subset of customers who differ from other customers. 
C) providing a subset of the industry's products or services. 
D) serving all needs of all customers.

Question 16

The objective of the majority of organizations is to provide value to their customers.The activities that support such an objective can be conceptualized as forming a value chain.Within this value chain,logistics plays an important role.Logistics is both inbound and outbound in nature.An example of inbound logistics would consist of

Accepted Answer

A) the activities that transform inputs into final products or services. 
B) the activities that help customers to buy the organization's products or services. 
C) the activities that provide post-sale support to customers. 
D) the activities that consist of receiving,storing,and distributing the materials used as inputs by the organization to create goods and/or services it sells.

Question 17

Within the value chain conceptual framework,organizations also perform a number of other support activities that enable the five primary value chain activities to be performed efficiently and effectively.One such support activity is research and development.This activity can be identified as a

Accepted Answer

A) firm infrastructure activity. 
B) human resources activity. 
C) technology activity. 
D) purchasing activity.

Question 18

Business activities that pertain to product pricing,discount and credit terms,and identifying the most and least profitable items are part of the __________ activity in the organization's value chain.

Accepted Answer

A) service 
B) marketing and sales 
C) operations 
D) inbound logistics

Question 19

What is the CITP designation and why is it important to AIS?

Accepted Answer

The answer of What is the CITP designation and why...

Question 20

Differentiate between an AIS course and other accounting courses.

Accepted Answer

The answer of Differentiate between an AIS course and other...

Exam 1: Accounting Information Systems

Discuss the seven characteristics of useful information.

Budgeting and human resource practices are examples of

A strategic position is important to the success and growth of any organization.Harvard professor Michael Porter has identified three basic strategic positions.Which statement below is false regarding these basic strategic positions?

How can an AIS become part of the firm's value chain and add value to the business?

Define data,information,and how the value of information is determined.

An accounting information system (AIS) processes to provide users with .

Data are

The primary objective of accounting is to

An AIS is a system of six interrelated components that interact to achieve a goal.One of these components,which includes both manual and automated activities that involve collecting,processing,and storing data,is known as

An accounting information system in part consists of

A good example of how an AIS is used to share knowledge within an organization is

A variety-based strategic position involves

Within the value chain conceptual framework,organizations also perform a number of other support activities that enable the five primary value chain activities to be performed efficiently and effectively.One such support activity is research and development.This activity can be identified as a

Business activities that pertain to product pricing,discount and credit terms,and identifying the most and least profitable items are part of the __________ activity in the organization's value chain.

What is the CITP designation and why is it important to AIS?

Differentiate between an AIS course and other accounting courses.

Exam 1: Accounting Information Systems

Discuss the seven characteristics of useful information.

Budgeting and human resource practices are examples of

A strategic position is important to the success and growth of any organization.Harvard professor Michael Porter has identified three basic strategic positions.Which statement below is false regarding these basic strategic positions?

How can an AIS become part of the firm's value chain and add value to the business?

Define data,information,and how the value of information is determined.

An accounting information system (AIS) processes __________ to provide users with __________.

Data are

The primary objective of accounting is to

An AIS is a system of six interrelated components that interact to achieve a goal.One of these components,which includes both manual and automated activities that involve collecting,processing,and storing data,is known as

An accounting information system in part consists of

A good example of how an AIS is used to share knowledge within an organization is

A variety-based strategic position involves

Within the value chain conceptual framework,organizations also perform a number of other support activities that enable the five primary value chain activities to be performed efficiently and effectively.One such support activity is research and development.This activity can be identified as a

Business activities that pertain to product pricing,discount and credit terms,and identifying the most and least profitable items are part of the __________ activity in the organization's value chain.

What is the CITP designation and why is it important to AIS?

Differentiate between an AIS course and other accounting courses.

An accounting information system (AIS) processes to provide users with .