Ch1 Practise Q's - Intro Flashcards
- The role of the accountant has changed in recent times because:(LO1)
A professional bodies have sought to redefine and reposition the accounting function.
B computer systems have emerged to handle the classification and recording tasks traditionally associated with the accounting function.
C the accounting cycle is too complex and involved to be performed solely by the accountant.
D knowledge workers have increasingly replaced accountants in the performance of recording and classification tasks.
B computer systems have emerged to handle the classification and recording tasks traditionally associated with the accounting function.
- _____________ are one example of the way that the traditional accounting information system has been revolutionised and broadened in scope to encompass tasks beyond the traditional accounting functions.(LO1)
A The Microsoft suite of products
B The use of laptops and iPads
C Enterprise systems
D Innovative computer programs.
C Enterprise systems
Data becomes useful when:(LO2)
A it is subject to the application of rules or knowledge, which enables us to convert data into information.
B we have collected a large enough sample.
C an accountant uses it.
D it is collected by an AIS.
A it is subject to the application of rules or knowledge, which enables us to convert data into information.
Which of the following statements best indicates the difference between data and information?(LO2)
A Information and data are the same.
B Information is less useful than data.
C Information is always useful, whereas data is only sometimes useful.
D Information is data that has been processed and converted.
D Information is data that has been processed and converted.
A system can be defined as:(LO3)
A activities that are performed on inputs.
B any device used to capture data including manual keying and scanning.
C any process that an accountant is involved in.
D something that takes inputs, applies a set of rules or processes to the inputs and generates outputs.
D something that takes inputs, applies a set of rules or processes to the inputs and generates outputs.
Inputs can include:(LO3)
A receipts and invoices that are given to customers.
B data as well as other resources that are the starting point for the system.
C any process that an accountant is involved in.
D computer reports that are analysed by accountants.
B data as well as other resources that are the starting point for the system.
An example of an output from an accounting information system could be the screen:(LO3)
A for entering transactions.
B for selecting what report to produce.
C that lists updated and categorised account balances.
D for entering file saving locations.
C that lists updated and categorised account balances.
Over time, the relationship between accounting and information systems has seen:(LO4)
A accounting gain an increased role as the emphasis shifted from information systems to accounting.
B information systems gain an increased role as the emphasis shifted from accounting to information systems.
C information systems and accounting share the emphasis.
D both accounting and information systems become part of a wider organisational IT function.
B information systems gain an increased role as the emphasis shifted from accounting to information systems.
An accounting information system can best be defined as the application of technology to the:(LO4)
A capturing, storing, sorting and reporting of data.
B capturing, storing, sorting and reporting of information.
C capturing, verifying, storing, sorting and reporting of information relating to an organisation’s activities.
D capturing, verifying, storing, sorting and reporting of data relating to an organisation’s activities.
D capturing, verifying, storing, sorting and reporting of data relating to an organisation’s activities.
Remember - DATA!!!
Data mining is:(LO5)
A a technology that is used by large multinational resource companies such as BHP, Rio Tinto and Xstrata.
B declining in popularity with companies due to the emergence of newer technologies.
C a technology that analyses small pools of internally generated data and identifies possible cost savings.
D a technology that analyses large pools of data and identifies patterns in them that can then be used by organisations for decision making.
D a technology that analyses large pools of data and identifies patterns in them that can then be used by organisations for decision making.
Information is:(LO2)
a summarised version of data about an organisation’s activities.
prepared through the application of processing rules and procedures.
meant to be useful for those who receive it.
all of the above.
all of the above.
A system:(LO3)
is the combination of inputs, processes, outputs and controls.
is only influenced by internal factors.
addresses a specific process.
can be used to carry out any activity.
is the combination of inputs, processes, outputs and controls.
Data is:(LO2)
useful for decision making.
best captured using technology.
best used by an organisation when linked to the processes that generate or require them.
managed by data-mining technology.
best used by an organisation when linked to the processes that generate or require them.
An example of an external factor affecting an expenditure system is:(LO3)
how many suppliers the organisation uses.
the government’s requirement to record and pay Goods and Services Tax (GST) for some purchases.
a request by an employee for a new report to be added to the system.
a line employee requesting information about the current year’s expenditure.
the government’s requirement to record and pay Goods and Services Tax (GST) for some purchases.
MICR technology offers benefits to organisations that:(LO5)
want to ensure no fraudulent transactions occur.
need security in data processing.
make lots of payments by cheque.
are looking for an efficient means of processing data.
make lots of payments by cheque.
