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Finance Expert, MBA
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Experience:  M. Phil (Business Admin. - Finance), MBA (Finance)
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Multiple choice-5 points each

1)      Which of the following is true?
A.      An AIS must be computerized to be useful
B.      An AIS always produces useful information
C.      An AIS always produces financial information
D.      none of these

2)      Which of the following is true about the terms “data” and “information” within the context of Chapter 1?
A.      The terms are exactly the same
B.      The terms are always exact opposites
C.      Some “data” can also be “information”
D.      none of these

3)      The essential steps in performing a systems study are (in order of occurrence):
A.      Analysis, design, implementation and initial operation, follow up
B.      Design, planning, follow up, analysis, and implementation
C.      Planning, system specification, analysis, production, implementation
D.      Planning, analysis, design, implementation, and follow up

4)      Most system flowcharting symbols:
A.      Have not been standardized
B.      Have been standardized by the Society of System Analysts
C.      Have been standardized by the National Bureau of Standards
D.      Are unique to the organization that uses them

5)      The textbook identified seven reasons why documentation of an AIS is important. For which of the following reasons would the user guides, procedure manuals and operating instructions be most important?
A.      Depicting how the system works
B.      Training user
C.      Designing new systems
D.      Standardizing communications with others

6)      According to the chapter, which of these statements is most accurate?
A.      Almost all computer crime is committed for personal gain
B.      Very little computer crime is committed for personal gain
C.      Most computer crime is just as easily described as “embezzlement
D.      We actually know very little about computer abuse

7)      The best explanation for the absence of complete information on computer crime would be:
A.      Abuse is handled as an internal matter
B.      Hesitant disclosure of abuse due to embarrassment
C.      Documentation of abuses hasn't caught up with actual abuses
D.      Most computer crime is not caught

8)      A general rule that should be followed when developing control procedures for a company's assets is:     
A.      The cost of the control procedure will likely exceed the procedure's benefit
B.      The procedure should not be designed and implemented unless an asset's cost exceeds $5,000
C.      The more liquid an asset is, the greater the risk of its misappropriation
D.      The procedure should not be designed and implemented in situations where a risk assessment has been previously performed

9)      Which of the following statements is true regarding preventive control procedures and detective control procedures?
A.      They should be interrelated
B.      If preventive controls exist, detective controls are unnecessary
C.      If detective controls exist, preventive controls are unnecessary
D.      Preventive controls should be cost effective, but detective controls do not need to be cost effective

10)      The least effective physical security control for a computer center is:
A.      Limited employee access
B.      Color-coded identification badges
C.      Insurance
D.      Strategic placement of computer center equipment

11)      The financial accounting cycle ends with:
A.      The production of financial statements
B.      Closing journal entries
C.      The production of an adjusted trial balance
D.      Development of cash forecasts

12)      Performance reports are:
A.      Reports that compare budgets with actual performance
B.      Reports that show any exception conditions in an organization
C.      Never presented in an exception format
D.      Transaction listings

13)      Job costing systems are most appropriate for:
A.      Home builders
B.      Textbook publishers
C.      Beverage companies
D.      both a and b are appropriate industries for job costing systems

14)      Third party billing refers to:
A.      Billing to clients by professional service organizations
B.      Billing to insurance companies by health care organizations
C.      The fact that the customer often does not pay directly for goods purchased in the health care industry
D.      both b and c are correct

15)      An intensive investigation of a company's present information system in order to discover systems weaknesses is termed a:
A.      Systems study
B.      Systems follow up
C.      Systems design
D.      Systems survey

16)      Which of these statements is true?
A.      Accountants need not bother with systems studies—they are mostly performed by IT specialists
B.      System studies enable bright accountants to express ideas for improving a system
C.      Systems studies rarely involve accounting information systems
D.      all of these are true

17)      Computer assisted audit techniques:
A.      Are never used in compliance testing
B.      May be used for substantive and compliance testing
C.      Are used primarily when auditing around the computer
D.      Are good tools for auditors who are lacking in technical computer skills

18)      These allow a user to access alternate web pages from an existing page:
A.      Hyperlinks
B.      Golf links
C.      html titles
D.      Firewalls

19)      All of the following are examples of EDI “documents” except:
A.      Purchase orders
B.      Sales invoices
C.      Customs documents
D.      Payroll checks

20)      A disadvantage of a manually-prepared source document is that it:
A.      Is not a good backup for damaged files
B.      Cannot serve as evidence of authenticity
C.      Is of no use tracing an audit trail
D.      Is not machine readable

21)      The control unit of a computer system:
A.      Is responsible for manipulating data     
B.      Is where all the application programs are stored
C.      Is where the operating system instructions are stored
D.      Determines the sequence in which computer program instructions are executed

22)      ---------means the computer-input device is connected to the CPU so that master files are updated as transactions data are entered.
A.      Report-time processing
B.      Batch processing
C.      Real time processing
D.      Data processing

23)      Application controls include:
A.      Separation of duties
B.      Validation of results
C.      Disaster recovery plans
D.      Accuracy of processing

Short essays-5 points each

1)     Do you agree or disagree with the statement that “a decision to acquire an accounting information system is a business decision not a systems decision”? What role does competitive advantage play in the decision to acquire an accounting information system?

2)     Discuss what you have learned in ACC 340 that will be most beneficial to you in your career.
Submitted: 8 years ago.
Category: Homework
Expert:  Finance Expert replied 8 years ago.

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