This study source was downloaded by 100000839236746 from CourseHero com on 07 27 2022 23 39 47 GMT 05 00 https www coursehero com file 30561091 AIS Quiz 1docx Accounting Information SystemsQuiz 1 Chapter 1 and 2 Name Carmen OrtizDate 04 24 181 An accounting information system is a set of interrelated A Activities and documents only B Activities and technologies only C Documents and technologies only D Activities documents and technologies 2 An accounting information system is a set of interrelated A Activities and documents only B Activities and technologies only C Documents and technologies only D Activities documents and technologies 3 The components of an accounting information system are designed to collect and report A Data informationB Data dataC Information informationD Information data4 Which of the following best fits the definition of an accounting information system explained in the text A A checkbook registerB A publicly traded corporation s financial statementsC Processed source documents leading to the general purpose financial statementsD An Excel spreadsheet of financial statementratios This study source was downloaded by 100000839236746 from CourseHero com on 07 27 2022 23 39 47 GMT 05 00 https www coursehero com file 30561091 AIS Quiz 1docx 5 Claudia borrowed money from her bank signing a five year note payable She then calculated the monthly payment needed to pay off the loan within three years Based on the definition of an accounting information system provided in the text the five year note payable could be considered i an input ii an output iii a document A I and II onlyB I and III onlyC II and III onlyD I II andIII6 Accounting information systems is an important area of study for future accountants because a well designed AIS can respond to many elements of the FASB Conceptual Framework All of the following are parts of the conceptual framework except A Principles of debit and creditB Objective of financial reportingC Elements of financial statementsD Qualitative characteristics of accounting information7 Which of the following best explains why AIS is an important area of study for future accountants A AIS connects other areas of accounting such as intermediate and cost accounting B AIS connects accounting with other subjects such as finance and management C Both AIS connects other areas of accounting such as intermediate and cost accounting and AIS connects accounting with other subjects such as finance and management D Neither AIS connects other areas of accounting such as intermediate and cost accounting nor AIS connects accounting with other subjects such as finance and management 8 VTR Corporation s accounting information system recently reported the following information Cost of goods sold 1 500 Inventory 15 000 Unearned service fees 3 000 Service fees earned 8 000 Which element of financial statements is not included in the preceding data A AssetsB Equity This study source was downloaded by 100000839236746 from CourseHero com on 07 27 2022 23 39 47 GMT 05 00 https www coursehero com file 30561091 AIS Quiz 1docx C ExpenseD Liabilities This study source was downloaded by 100000839236746 from CourseHero com on 07 27 2022 23 39 47 GMT 05 00 https www coursehero com file 30561091 AIS Quiz 1docx 9 Which of the following elements of the conceptual framework fit within the same category A Economic entity historical costB Conservatism historical costC Economic entity conservatismD Conservatism materiality10 Which of the following statements best demonstrates a difference between AIS and other areas of study in accounting A General ledger software can only be used in AIS B The matching principle is less important in AIS than in other areas of accounting C AIS often looks at the big picture of accounting D Topics studied in AIS courses are not typically included on accounting professional exams 11 In management accounting students learn to prepare budgets calculate cost variances and interpret those variances Which of the following best links those topics with AIS study A Use of professional judgmentB Journal entry preparationC Both use of professional judgment and journal entry preparationD Neither use of professional judgment nor journal entry preparation12 The generic structure of most accounting information systems comprises elements A ThreeB FourC FiveD More than five13 Which of the following is an example of an AIS output This study source was downloaded by 100000839236746 from CourseHero com on 07 27 2022 23 39 47 GMT 05 00 https www coursehero com file 30561091 AIS Quiz 1docx A Journal entriesB Statement of cashflowsC Sales transaction fileD General ledger software14 Most accounting information systems comprise five parts Which of the following must beused as a processing tool in the AIS A SpreadsheetsB Relational databasesC Both spreadsheets and relational databasesD Neither spreadsheets nor relationaldatabases15 Which of the following statements about accounting and bookkeeping is most true A The FASB Conceptual Framework is relevant in accounting but not in bookkeeping B The FASB Conceptual Framework is relevant in bookkeeping but not in accounting C As an element of the AIS internal controls are irrelevant to bookkeeping D As an element of the AIS outputs are relevant to accounting 16 As an internal control for source documents transaction limits are most likely to an error A PreventB DetectC CorrectD Eliminate This study source was downloaded by 100000839236746 from CourseHero com on 07 27 2022 23 39 47 GMT 05 00 https www coursehero com file 30561091 AIS Quiz 1docx 17 Which type of coding system helps people remember the meaning of the code A SequentialB BlockC HierarchicalD Mnemonic18 The accounting department at a local university uses the prefix ACC for all its courses thus exemplifying which type of coding system A SequentialB BlockC HierarchicalD Mnemonic19 Most organizations use purchase orders to authorize inventory and other purchases If a company s purchase order contains a field labeled purchase order number it most likely uses what kind of coding A SequentialB BlockC HierarchicalD Mnemonic20 As an internal control measure in the accounting cycle physical security most clearly applies to A Source documentsB The balance sheetC The income statementD The statement of cash flows21 An accounting information system is defined by the text as a set of three interrelated elements Which of the following choices best gives an example of each