IAS

1. Which of the following is not a business resource?

Raw material, Labor, Information (All of the above)

Which level of management is responsible for short-term planning and coordination of activities necessary to accomplish organizational objectives?

Middle Management

Which level of management is responsible for controlling day-to-day operations?

Operations Management

The ability to achieve the goals of a system depends upon the effective functioning and harmonious interaction between its subsystems. This is called

Subsystem Interdependency

The value of information for users is determined by all of the following but

Convenience

An example of a nonfinancial transaction is

Log of customer calls

An example of a financial transaction is

The purchase of computer

Which subsystem is not part of the Accounting Information System?

Expert System

The major difference between the Financial Reporting System (FRS) and the Management Reporting System (MRS) is the

FRS provides information to internal and external users; the MRS provides information to internal users

The purpose of the Transaction Processing System includes all of the following except

measuring and reporting the status of financial resources and the changes in those resources

The Transaction Processing System includes all of the following cycles except

The Administrative Cycle

The primary input to the Transaction Processing System is

A Financial Transaction

When designing the data collection activity, which type of data should be avoided?

Data that is redundant

The most basic element of useful data in the database is

The Attribute

In a database, a complete set of attributes for a single occurrence of an entity class is called

A Record

Effective information has all of the following characteristics except

Structure

Database management tasks do not include

Summarization

The author distinguishes between the Accounting Information System and the management Information System based on

Whether the transactions are financial or nonfinancial

Which activity is not part of the finance function?

General Ledger

Market research and advertising are part of which business function?

Marketing

Which function manages the financial resources of the firm through portfolio management, banking, credit evaluation, and cash receipts and disbursements?

Finance

Which of the following is not part of the accounting function?

managing the physical information system of the firm

The term "accounting independence" refers to

separation of duties, such as record keeping and custody of physical resources

In the distributed data processing approach

computer services are organized into small information processing units under the control of end users

The data control group is responsible for

liaison between the end user and data processing

Data processing does not involve

System maintenance

Independent auditing is performed by

External Auditors

Which individual is least involved in new systems development?

Data Librarian

The objectives of all information systems include all of the following except

Evaluating transaction data

Which individuals may be involved in the Systems Development Life Cycle?

Accountants, Systems professionals, End Users (all of the above)

An appraisal function housed within the organization that performs a wide range of services for management is

internal auditing

Advantages of a database system include all of the following except

open access to all data by all users

Disadvantages of distributed data processing include all of the following except

cost reductions

Advantages of distributed data processing include each of the following except

better management of organization resources

Disadvantages of the distributed data processing approach include all of the following except

system is not responsive to the user's situation

ERP packages include all of the following modules except

Human resources, General Ledger, Inventory Management (All of the above)

All of the following are external end users except

Cost Accountants

Useful information must possess all of the following characteristics except

Timelessness

The objectives of an information system include each of the following except

furthering the financial interests of shareholders

Accountants play many roles relating to the accounting information system, including all of the following except

system converters