Question 1

During the acquisition and payment process, which areas are opportunities for additional data capture in the process approach for information systems?

Accepted Answer

A)   Monitor supplier performance
B)   Monitor employee performance
C)   Monitor cash flow
D)   All of these answer choices are correct.E) A) and C)
F) A) and B)

Question 2

Accounting communicates to stakeholders

Accepted Answer

A)   minimally required public financial data.
B)   the financial outcomes of operating, investing, and financing activities.
C)   the sales strategy for the operating, marketing, and sales activities.
D)   black and white details about the economics of operating activities.E) B) and C)
F) A) and D)

Question 3

Kobe manages a real-estate company. Recently, Kobe modified the process used to assign a list price by agents in the organization. In which management responsibility area was Kobe operating?

Accepted Answer

A)   Planning
B)   Implementing
C)   Monitoring
D)   Changing and ImprovingE) A) and D)
F) B) and C)

Question 4

Compare and contrast transaction-based accounting systems to process-based information systems.

Accepted Answer

Both types of information systems are wi...

Question 5

Which of the following management responsibility areas includes assigning employee tasks?

Accepted Answer

A)   Planning
B)   Implementing
C)   Monitoring
D)   Changing and ImprovingE) None of the above
F) A) and D)

Question 6

Which of the following activities results in a transaction an accounting information system?

Accepted Answer

A)   Sell goods to a customer
B)   Submit an order to a vendor
C)   Create estimates for a customer
D)   Receive a customer orderE) A) and D)
F) A) and C)

Question 7

Which statement is TRUE?

Accepted Answer

A)   Accounting consists of rigid black and white rules.
B)   Accountants crunch numbers, not make decisions.
C)   Accounting helps support a prosperous society.
D)   Accountants focus on debits and credits, not business activities.E) A) and B)
F) A) and C)

Question 8

Which of the following benefits may arise from management evaluating conversion process data captured by a process-based accounting information system?

Accepted Answer

A)   Reduced downtime
B)   Reduced employee turnover
C)   Increased customer satisfaction
D)   Increased customer engagementE) B) and D)
F) All of the above

Question 9

Tina, Tammy, and Toni opened a Pizza Hut franchise in the suburbs of a major metropolitan area. Tammy manages the cash drawer, credit card reconciliation, and payroll. Which of the following type of business events is Tammy's to manage?

Accepted Answer

A)   Operating events
B)   Financing events
C)   Investing events
D)   All of these answer choices are correct.E) A) and D)
F) A) and B)

Question 10

Which business event during the marketing, sales and collections processes would NOT be captured in a traditional accounting information system?

Accepted Answer

A)   Produce product
B)   Take customer order
C)   Deliver goods to a customer
D)   Collect payment from customerE) B) and C)
F) A) and B)

Question 11

Tina, Tammy, and Toni opened a Pizza Hut franchise in the suburbs of a major metropolitan area. Tina manages the team that takes orders and delivers pizzas. What process area demands most of Tina's focus?

Accepted Answer

A)   Acquisition and Payment
B)   Conversion
C)   Marketing, Sales, and Collections
D)   All of these answer choices are correct.E) None of the above
F) A) and D)

Question 12

A business model is

Accepted Answer

A)   a company's plan for operations.
B)   a company's plan for making a profit.
C)   a company's plan for identifying customers.
D)   a company's plan for production.E) C) and D)
F) A) and D)

Question 13

One of the most important data analytics skills for all new graduates is the ability to

Accepted Answer

A)   identify what data can be used to answer a business question.
B)   code advanced predictive analytics algorithms.
C)   manually calculate financial ratios from financial statements.
D)   identify and categorize accounting reports.E) B) and D)
F) None of the above

Question 14

Which characteristic refers to the completeness, accuracy, reliability, and consistency of data?

Accepted Answer

A)   Information integrity
B)   Information quality
C)   Data integrity
D)   Data qualityE) None of the above
F) B) and C)

Question 15

Which of the following statements most accurately reflects the relationship between reporting and data analytics?

Accepted Answer

A)   Data analytics uses reports and raw data to transform into useful information.
B)   Reports and data analytics are both created using an information system but are not related.
C)   Reports are visual displays of the information produced using data analytics.
D)   Data analytics and reporting both require specialized software to perform and produce similar results.E) All of the above
F) A) and B)

Question 16

Which of the following accounting data components is an acquisition and payment process?

Accepted Answer

A)   Production
B)   Revenue
C)   Financing
D)   All of these answer choices are correct.E) B) and C)
F) A) and D)

Question 17

In what way do management teams use accounting data?

Accepted Answer

A)   Management teams use accounting data to make business decisions.
B)   Management teams use accounting data to make and execute plans.
C)   Management teams use economic and accounting data together to make decisions.
D)   All of these answer choices are correct.E) All of the above
F) B) and C)

Question 18

The information system for WKRP, Inc. is very basic. WKRP management had a former employee with very little accounting knowledge build a report in the information system that generated key performance indicators (KPIs). WKRP's debt-to-equity ratio continues to be generated erroneously because the equation used for the ratio was programmed into the system incorrectly. Explain what key characteristic of data is violated with the error and how this error in data might affect WKRP?

Accepted Answer

The WKRP KPI report lacks data integrity...

Question 19

What additional data could be captured during the conversion processes to help corporate management improve business efficiency or effectiveness?

Accepted Answer

A)   Quality testing data
B)   Downtime data
C)   Waste data
D)   All of these answer choices are correct.E) B) and D)
F) A) and C)

Question 20

Fast-food chains that allow individuals to purchase and operate a location for that chain are operating under what kind of business model?

Accepted Answer

A)   Franchise
B)   Subscription
C)   Freemium
D)   Peer-to-peerE) A) and B)
F) C) and D)

Exam 1: Accounting As Information

Accounting communicates to stakeholders

Correct Answer
verified

Compare and contrast transaction-based accounting systems to process-based information systems.

Correct Answer
verified
Both types of information systems are wi...
View Answer

Which business event during the marketing, sales and collections processes would NOT be captured in a traditional accounting information system?

Correct Answer
verified

Which of the following benefits may arise from management evaluating conversion process data captured by a process-based accounting information system?

Correct Answer
verified

Fast-food chains that allow individuals to purchase and operate a location for that chain are operating under what kind of business model?

Correct Answer
verified

Tina, Tammy, and Toni opened a Pizza Hut franchise in the suburbs of a major metropolitan area. Tina manages the team that takes orders and delivers pizzas. What process area demands most of Tina's focus?

Correct Answer
verified

Which of the following management responsibility areas includes assigning employee tasks?

Correct Answer
verified

Which of the following activities results in a transaction an accounting information system?

Correct Answer
verified

In what way do management teams use accounting data?

Correct Answer
verified

Tina, Tammy, and Toni opened a Pizza Hut franchise in the suburbs of a major metropolitan area. Tammy manages the cash drawer, credit card reconciliation, and payroll. Which of the following type of business events is Tammy's to manage?

Correct Answer
verified

A business model is

Correct Answer
verified

One of the most important data analytics skills for all new graduates is the ability to

Correct Answer
verified

What additional data could be captured during the conversion processes to help corporate management improve business efficiency or effectiveness?

Correct Answer
verified

Which characteristic refers to the completeness, accuracy, reliability, and consistency of data?

Correct Answer
verified

Correct Answer
verified
The WKRP KPI report lacks data integrity...
View Answer

Which of the following statements most accurately reflects the relationship between reporting and data analytics?

Correct Answer
verified

Which statement is TRUE?

Correct Answer
verified

Kobe manages a real-estate company. Recently, Kobe modified the process used to assign a list price by agents in the organization. In which management responsibility area was Kobe operating?

Correct Answer
verified

During the acquisition and payment process, which areas are opportunities for additional data capture in the process approach for information systems?

Correct Answer
verified

Which of the following accounting data components is an acquisition and payment process?

Correct Answer
verified

Exam 1: Accounting As Information

Accounting communicates to stakeholders

Correct AnswerverifiedShow Answer

Compare and contrast transaction-based accounting systems to process-based information systems.

Correct AnswerverifiedBoth types of information systems are wi...View AnswerShow Answer

Which business event during the marketing, sales and collections processes would NOT be captured in a traditional accounting information system?

Correct AnswerverifiedShow Answer

Which of the following benefits may arise from management evaluating conversion process data captured by a process-based accounting information system?

Correct AnswerverifiedShow Answer

Fast-food chains that allow individuals to purchase and operate a location for that chain are operating under what kind of business model?

Correct AnswerverifiedShow Answer

Tina, Tammy, and Toni opened a Pizza Hut franchise in the suburbs of a major metropolitan area. Tina manages the team that takes orders and delivers pizzas. What process area demands most of Tina's focus?

Correct AnswerverifiedShow Answer

Which of the following management responsibility areas includes assigning employee tasks?

Correct AnswerverifiedShow Answer

Which of the following activities results in a transaction an accounting information system?

Correct AnswerverifiedShow Answer

In what way do management teams use accounting data?

Correct AnswerverifiedShow Answer

Tina, Tammy, and Toni opened a Pizza Hut franchise in the suburbs of a major metropolitan area. Tammy manages the cash drawer, credit card reconciliation, and payroll. Which of the following type of business events is Tammy's to manage?

Correct AnswerverifiedShow Answer

A business model is

Correct AnswerverifiedShow Answer

One of the most important data analytics skills for all new graduates is the ability to

Correct AnswerverifiedShow Answer

What additional data could be captured during the conversion processes to help corporate management improve business efficiency or effectiveness?

Correct AnswerverifiedShow Answer

Which characteristic refers to the completeness, accuracy, reliability, and consistency of data?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThe WKRP KPI report lacks data integrity...View AnswerShow Answer

Which of the following statements most accurately reflects the relationship between reporting and data analytics?

Correct AnswerverifiedShow Answer

Which statement is TRUE?

Correct AnswerverifiedShow Answer

Kobe manages a real-estate company. Recently, Kobe modified the process used to assign a list price by agents in the organization. In which management responsibility area was Kobe operating?

Correct AnswerverifiedShow Answer

During the acquisition and payment process, which areas are opportunities for additional data capture in the process approach for information systems?

Correct AnswerverifiedShow Answer

Which of the following accounting data components is an acquisition and payment process?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Both types of information systems are wi...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The WKRP KPI report lacks data integrity...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified