18 Free Test Bank for Accounting Information Systems A Practitioner Emphasis 7th Edition by Heagy

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For decision-making purposes, managers require data from which source(s) and in which terms?

•  A. Internal and external sources in only monetary terms
•  B. Internal sources in non-monetary terms and external sources in monetary terms
•  C. Internal sources in non-monetary terms and external sources in monetary terms
•  D. Internal and external sources in both monetary and non-monetary terms

Which of the following statements about a manual accounting system is not correct?

•  A. Very little data beyond the basic elements are included.
•  B. Data are stored in only one location.
•  C. Errors and inconsistencies are common.
•  D. Data are processed for external reporting.

In what terms can accounting information be expressed?

•  A. Units, percentages, and money
•  B. Money, ratios, and text
•  C. Money, percentages, and text
•  D. Units, percentages, and text

Which of the following statements does not apply to accounting information?

•  A. Accounting information meets the legitimate needs of external users.
•  B. Accounting information is generated by only external activities.
•  C. Accounting information communicates among parties transacting business with one another.
•  D. Accounting information provides a basis for informed management decision making.

Which of the following certifications is specifically designed for internal auditors?

•  A. Certified information systems auditor
•  B. Certified internal auditor
•  C. Certified public accountant
•  D. Certified fraud examiner

Who are the users of accounting systems?

•  A. Financial accountants, managerial accountants, and system developers
•  B. Financial accountants, managerial accountants, system developers, and tax accountants
•  C. Financial accountants, managerial accountants, system developers, and governmental accountants
•  D. Financial accountants, managerial accountants, governmental accountants, and tax accountants

What essential functions are performed by computer hardware?

•  A. Input, processing, output, and instruction of data
•  B. Input, storage, and instruction of data, and decision making
•  C. Input, processing, storage, and output of data
•  D. Input, storage, and output of data and decision making

Which of the following statements is not true?

•  A. Trustworthy accounting information and reliable computer equipment can prevent the failure of an organization, even if incompetent and dishonest people carry out the accounting function.
•  B. A good accounting system may not guarantee an organization’s success, but a bad one can destroy an organization.
•  C. The difference between good and bad accounting systems lies in the way they are developed, operated, and controlled.
•  D. An accounting system is expected to carry out its tasks without the need for upper management’s day-to-day concern.

Which of the following statements is false?

•  A. Internal auditors lack the necessary independence to express opinions about the financial statements of the organizations for which they work.
•  B. Internal auditors ensure that an organization’s accounting system is properly designed to meet the organization’s present and future needs.
•  C. An external auditor who performs a financial statement audit is not required by professional standards to gain an understanding of the client’s accounting information system before expressing an opinion.
•  D. If an external auditor finds the controls over the accounting system to be adequate, he or she may be able to reduce the amount of testing of transactions and account balances necessary to support an opinion on the fairness of the financial statements.

From what do accounting transactions result?

•  A. Both external and internal activities
•  B. External activities
•  C. Internal activities
•  D. Neither external nor internal activities

Which of the following is not accounting information?

•  A. Total direct/indirect labor hours
•  B. Delivery equipment cost
•  C. Computer training schedule
•  D. Next year’s sales budget

Which of the following groups requires accounting data with the broadest perspective?

•  A. Entry-level managers
•  B. First-level managers
•  C. Middle-level managers
•  D. Upper-level managers

Which of the following best describes a manual accounting system?

•  A. Slow and prone to error
•  B. Limited in the volume of data it can process
•  C. Fast and accurate
•  D. A and C, but not B
•  E. A and B, but not C

Which of the following statements is not true?

•  A. An accounting system deals primarily with economic events that affect an organization’s accounting equation.
•  B. Some accounting events may mature into accounting transactions while others may not.
•  C. Only accounting events that have matured into accounting transactions must be captured and reported by the accounting system.
•  D. Most accounting transactions result from an organization’s day-to-day operations.

Who is most responsible for operation of the accounting system in an organization?

•  A. The controller and the chief executive officer
•  B. The controller and the chief financial officer
•  C. The controller and the board of directors
•  D. A and B, but not C
•  E. B and C, but not A

What are the roles of people in computerized accounting systems?

•  A. To monitor the processing of data and to interpret data
•  B. To manufacture hardware, write software, and maintain the accounting system
•  C. To supervise and control the accounting function
•  D. A and B, but not C
•  E. A, B, and C.