Mid-Term Review: Accounting Information Systems
Mid-term Review
Accounting Information Systems
XP
Chapter 1:
Accounting Information Systems and
Accountant
Midterm Review - Accounting Information Systems
2
Question 1
XP
• Which of the following is not a means by which information improves decision making?
A. Increasing information overload
B. Reducing uncertainty
C. Providing feedback about the effectiveness of prior decisions.
D. Identifying situations requiring management action Midterm Review - Accounting Information Systems
3
Question 2
XP
• The Financial Accounting Standards Board (FASB), in its Statement of Financial Accounting Concepts No. 2, has defined accounting as
A. An information identification, development, measurement, and communication process.
B. A way to provide adequate controls to safeguard an organization's assets
C. Being an information system.
D. A way to collect and transform data into useful information. Midterm Review - Accounting Information Systems
4
Question 3
XP
• An AIS provides value by
A. Improving products or services through information that increases quality and reduces costs. B. Providing timely and reliable information to decision makers.
C. Creating new products.
D. Both A and B
Midterm Review - Accounting Information Systems
5
Question 4
XP
• An accounting information system (AIS) processes __________ to provide users with
________.
A.
B.
C.
D.
Data; Information
Data; Transactions
Information; Data
Data; Benefits
Midterm Review - Accounting Information Systems
6
Question 5
XP
• Humans can absorb and process only so much information. Information _______ occurs when those limits are passed
A.
B.
C.
D.
Overload
Excess
Anxiety
Discretion
Midterm Review - Accounting Information Systems
7
XP
Chapter 3:
Documenting Accounting Information Systems
Midterm Review - Accounting Information Systems
8
Question 7
XP
• Which
Accounting Information Systems
XP
Chapter 1:
Accounting Information Systems and
Accountant
Midterm Review - Accounting Information Systems
2
Question 1
XP
• Which of the following is not a means by which information improves decision making?
A. Increasing information overload
B. Reducing uncertainty
C. Providing feedback about the effectiveness of prior decisions.
D. Identifying situations requiring management action Midterm Review - Accounting Information Systems
3
Question 2
XP
• The Financial Accounting Standards Board (FASB), in its Statement of Financial Accounting Concepts No. 2, has defined accounting as
A. An information identification, development, measurement, and communication process.
B. A way to provide adequate controls to safeguard an organization's assets
C. Being an information system.
D. A way to collect and transform data into useful information. Midterm Review - Accounting Information Systems
4
Question 3
XP
• An AIS provides value by
A. Improving products or services through information that increases quality and reduces costs. B. Providing timely and reliable information to decision makers.
C. Creating new products.
D. Both A and B
Midterm Review - Accounting Information Systems
5
Question 4
XP
• An accounting information system (AIS) processes __________ to provide users with
________.
A.
B.
C.
D.
Data; Information
Data; Transactions
Information; Data
Data; Benefits
Midterm Review - Accounting Information Systems
6
Question 5
XP
• Humans can absorb and process only so much information. Information _______ occurs when those limits are passed
A.
B.
C.
D.
Overload
Excess
Anxiety
Discretion
Midterm Review - Accounting Information Systems
7
XP
Chapter 3:
Documenting Accounting Information Systems
Midterm Review - Accounting Information Systems
8
Question 7
XP
• Which