ACC 340 Final Exam (30/30) - 89564

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1.) Which of the following is true? An AIS must be computerized to be useful An AIS always produces useful information An AIS always produces financial information none of these 2.) Which of the following is true about the terms “data” and “information” within the context of Chapter 1? The terms are exactly the same The terms are always exact opposites Some “data” can also be “information” none of these 3.) Most AISs perform all of these functions except: Collect raw accounting data Store accounting data for future uses Process data into useful information AISs perform all of these functions 4.) Which of the following is one of the five interacting components of an accounting information system? Fuzzy logic Testing Certification Procedures Internet 5.) A computer network spanning regional, national, or global areas best describes which of the following? LAN WAN ESPN DSL ISDN 6.). Documentation includes: All flowcharts, narratives, and other written communications associated with the information system All written communications associated with an accounting information system except flowcharts and data flow diagrams All flowcharts, narratives, and other written communications associated with an accounting information system, except for program flowcharts, decision tables, and pseudocode Flowcharts and data flow diagrams only 7.) A system flowchart is a block diagram that: Is used only by auditors Is used primarily when document flowcharts cannot be used Depicts the flow of computer systems in an organization Depicts the flow of data through a computerized accounting information system 8.) The financial accounting cycle ends with: The production of financial statements Closing journal entries The production of an adjusted trial balance Development of cash forecasts 9.). Which of the following is not usually a design consideration in coding systems? Consistency Standardization Government regulation Plans for future expansion 10.) The primary objective of a manufacturing organization’s production process is to: Maintain inventories at a zero level Convert raw materials into finished goods as efficiently as possible Make sure that there are no product defects Maintain the documentation and report on an organization’s manufacturing process 11.) Which of the following is not a concern of the financing process? Effective cash management Optimizing an organization’s cost of capital Minimizing an organization’s borrowings Projecting cash flows 12.) Business process reengineering efforts sometimes fail because: Management gets too involved in the process Management is too optimistic regarding its expectations from its implementation Management support can never overcome employee resistance Employees will never accept change 13.) Resource Management Process includes which of the following? Human resource management and fixed asset management Human resource management, inventory management, and fixed asset management Human resource management only Personnel management, payroll management, and fixed asset management 14.) All of these are reasons why we think that computer crime is rising except: Some Internet web sites now instruct users how to perform certain types of computer abuse More people now know how to use computers Computer usage continues to grow all of these are reasons 15.) Thwarting computer abuse can be enhanced by all of the following except: Enlisting top-management support Increasing employee awareness Allowing only 10% of employees access to computers Identifying computer criminals 16.) Three objectives of a company’s internal control system should be safeguarding assets, checking the accuracy and reliability of accounting data, and promoting operational efficiency. A fourth objective of a company’s internal control system should be: Preventing embezzlement of assets Encouraging adherence to prescribed managerial policies Avoiding the payment of overtime to company employees Revising standards for production costs on a weekly basis 17.) The control environment is a component of a company’s internal control system that: Influences the control awareness of a company’s employees Stresses the development of control procedures in a company Directly affects the accuracy and reliability of a company’s accounting data Can be ignored when establishing a company’s internal control system 18.) The principal function of an accounting system's computerized controls is: Detecting computer frauds Preventing computer frauds Encouraging programmer honesty none of the above 19.) When a company is setting up its accounting information system, it is important for management to select: A standard set of com¬puter control mechanisms Only those controls which appear to serve its needs Controls whose benefits exceed their costs b and c only 20.) The four phases of the systems development life cycle end with this phase: Analysis Design Implementation, follow-up, and maintenance Development 21.) According to the chapter, which of these comes closest in meaning to the term “systems approach?” Narrow point of view Broad point of view Focus on achieving those goals important to computerized systems Focus first and foremost on computerization 22.) The primary purpose of an internal audit is: To verify the accuracy of a firm’s financial statements To punish employees for inefficient performance To meet the requirements of the accounting profession To ascertain employee adherence to organizational policies and procedures 23.) A computerized AIS is harder to audit than a manual system for all of the following reasons except: The file information is not human readable The volume of transaction records and master file records is usually much larger in computerized systems than in manual systems An audit trail does not exist in a computerized AIS Computerized systems often use remote real-time data processing, thus complicating the tracing of transaction records to their sources 24.) An advantage of an extranet is that: It can disseminate information corporate-wide It can be accessed by selected trading partners Users can employ common web browsers to access information in them all of the above 25.) Those companies which prefer VANs to the Internet for implementing EDI do so for what main reason? Cost - VANs are cheaper than the Internet Speed - VANs are faster than the Internet Security - VANs are thought to be more secure Convenience - VANs are everywhere 26.) In the REA framework, which of these would be recorded as an “event?” Hiring a new president of the company Taking an initial sales order from a customer Buying a piece of equipment for cash all of these would be recorded as events 27.) In the REA framework, an account receivable would be classified as a(n): Asset Event Resource none of these 28.) In the context of databases, the term data redundancy refers to: Storing the same information in several records Repeating data on multiple reports Using foreign keys which duplicate the values of primary keys all of these are possible examples of data redundancy 29.) A disadvantage of database management systems is that: They are not flexible They cannot be implemented on microcomputers They rarely support file inquiries They are often machine dependent (e.g., not all DBMSs can run on all types of computers) 30.) The purpose of an input mask is to: Disguise data when it is first input into a database Transform data from alphabetic to numeric formats Help users avoid data input errors Hide sensitive data such as passwords onscreen
Solution Description

1.)  Which of the following is true?

An AIS must be computerized to be useful

An AIS always produces useful information

 An AIS always produces financial information

 none of these

 2.)        Which of the following is true about the terms “data” and “information” within the context of Chapter 1?

The terms are exactly the same

The terms are always exact opposites

Some “data” can also be “information”

none of these

3.)        Most AISs perform all of these functions except: 

Collect raw accounting data

Store accounting data for future uses

Process data into useful information

AISs perform all of these functions

 4.)        Which of the following is one of the five interacting components of an accounting information system?

Fuzzy logic

Testing

Certification

Procedures

Internet

 

5.)        A computer network spanning regional, national, or global areas best describes which of the following?

LAN

WAN

ESPN

DSL

ISDN

6.).       Documentation includes:

All flowcharts, narratives, and other written communications associated with the information system

All written communications associated with an accounting information system except flowcharts and data flow diagrams

All flowcharts, narratives, and other written communications associated with an accounting information system, except for program flowcharts, decision tables, and pseudocode

Flowcharts and data flow diagrams only

7.)        A system flow

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