Question 1

A supply chain:

Accepted Answer

A)  Refers to the supplies needed to build products.
B)  Refers to the flow of materials,information,payments and services.
C)  Refers to how costs are tracking in an AIS.
D)  Does not apply to a service firm like an accounting firm.E) A) and B)
F) B) and D)

Question 2

Which of the following is an example of information as opposed to just data:

Accepted Answer

A)  Number of dresses sold.
B)  Color of dresses sold.
C)  Dress sales in Michigan at Walmart Store #3458.
D)  Types of dresses sold per region and season.E) B) and D)
F) B) and C)

Question 3

The income statement line item most likely affected by an AIS investment in supply chain that would interface with suppliers would be:

Accepted Answer

A)  Revenues.
B)  Cost of Goods Sold.
C)  Selling,General and Administrative Expenses.
D)  Research and Development Expenses.E) B) and C)
F) A) and C)

Question 4

The Information Value Chain is defined as:

Accepted Answer

A)  The flow of materials,information,payments,and services.
B)  The use of computer technology to provide information about business activities to employees across the firm.
C)  The overall transformation of data from a business need to the ultimate decision.
D)  A centralized database that collects data from throughout the firm.E) B) and C)
F) A) and D)

Question 5

Production of a 1040 tax form from the AIS to be delivered to the Internal Revenue Service is an example of discretionary information.

Accepted Answer

A) True 
 B)False

Question 6

A value chain is defined as the cost of performing various activities inside a firm.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements is most true:

Accepted Answer

A)  Relevant information does not help predict the future.
B)  There are sometimes tradeoffs between information that is relevant and a faithful representation.
C)  Information must always be audited to be insightful an organization.
D)  Information does not need to be neutral or free from bias.E) None of the above
F) B) and D)

Question 8

The Certified Information Systems Auditor (CISA)is a professional designation generally sought by those performing IT audits.

Accepted Answer

A) True 
 B)False

Question 9

Information is defined as being data organized in a meaningful way that is useful to the user.

Accepted Answer

A) True 
 B)False

Question 10

The Sarbanes-Oxley Act of 2002 is a federal law in the United States that set new and enhanced standards for all U.S.public companies,their management and public accounting firms.

Accepted Answer

A) True 
 B)False

Question 11

One of the most important ways that ERPs benefit organizations and their business processes is:

Accepted Answer

A)  Current information is made available to all users involved in the activities and decisions associated with a company's business processes.
B)  Information is stored in many specialized,distributed databases that each serve separate business processes.
C)  Reducing the amount of time to complete business processes by eliminating all controls associated with the processes.
D)  Preventing external business partners from accessing the organization's data.E) A) and B)
F) None of the above

Question 12

Business value includes all those items,events and interactions that determine the financial health and well-being of the firm.

Accepted Answer

A) True 
 B)False

Question 13

The role of accountants in accounting information systems include all except:

Accepted Answer

A)  User.
B)  Manager.
C)  Coder.
D)  Evaluator.E) B) and C)
F) B) and D)

Question 14

The primary transformation of data into information takes place in which of the following activities?

Accepted Answer

A)  Input.
B)  Storage.
C)  Processing.
D)  Output.E) B) and D)
F) B) and C)

Question 15

The IT strategic roles of AIS investments are classified as:

Accepted Answer

A)  Automate,Informate,Transform.
B)  Value creation,Value Destruction,Value Neutral.
C)  Digitize,Report,Transform.
D)  Automate,Digitize,Transport.E) None of the above
F) B) and C)

Question 16

The main financial benefit of Customer Relationship Management practices reduces the cost of goods sold.

Accepted Answer

A) True 
 B)False

Question 17

Many fast food restaurants now have kiosks where customers can order without speaking to an employee.This is an example of the _____ strategic role.

Accepted Answer

A)  Automate
B)  Informate- up
C)  Transform
D)  Informate- downE) A) and B)
F) A) and C)

Question 18

Outbound logistics are the activities associated with receiving and storing raw materials as well as activities that transform these inputs into finished goods.

Accepted Answer

A) True 
 B)False

Question 19

When Uber (a ride sharing application) developed their unique platform to match drivers with riders,this was an example of _____ with IT Investments which fundamentally changed how people use car services.

Accepted Answer

A)  Automating
B)  Informating - up
C)  Transforming
D)  Informating - downE) B) and C)
F) None of the above

Question 20

According to a recent study,the transform IT strategic role is defined as systems that:

Accepted Answer

A)  Replace human labor in automating business processes.
B)  Provide information about business activities to all employees.
C)  Provide information about business activities to senior management.
D)  Fundamentally redefine business processes and relationships.E) All of the above
F) A) and C)

Exam 1: Accounting Information Systems and Firm Value

The role of accountants in accounting information systems include all except:

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One of the most important ways that ERPs benefit organizations and their business processes is:

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The main financial benefit of Customer Relationship Management practices reduces the cost of goods sold.

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The Certified Information Systems Auditor (CISA)is a professional designation generally sought by those performing IT audits.

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According to a recent study,the transform IT strategic role is defined as systems that:

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The Sarbanes-Oxley Act of 2002 is a federal law in the United States that set new and enhanced standards for all U.S.public companies,their management and public accounting firms.

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When Uber (a ride sharing application) developed their unique platform to match drivers with riders,this was an example of _____ with IT Investments which fundamentally changed how people use car services.

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The IT strategic roles of AIS investments are classified as:

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A supply chain:

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Information is defined as being data organized in a meaningful way that is useful to the user.

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Outbound logistics are the activities associated with receiving and storing raw materials as well as activities that transform these inputs into finished goods.

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Production of a 1040 tax form from the AIS to be delivered to the Internal Revenue Service is an example of discretionary information.

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Many fast food restaurants now have kiosks where customers can order without speaking to an employee.This is an example of the _____ strategic role.

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Which of the following statements is most true:

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The Information Value Chain is defined as:

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A value chain is defined as the cost of performing various activities inside a firm.

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The primary transformation of data into information takes place in which of the following activities?

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The income statement line item most likely affected by an AIS investment in supply chain that would interface with suppliers would be:

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Business value includes all those items,events and interactions that determine the financial health and well-being of the firm.

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Which of the following is an example of information as opposed to just data:

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