Chapter 1: AIS overview1.Data differs from information in which way?a.Data are output, and information is inputb.Information is output, and data are inputc.Data are meaningful bits of informationd.There is no difference
2.The business process that includes goods storage, receiving vendor invoices, and updating payable accounts iscalled
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3.Which of the following is a primary activity in the value chain?
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4.Which transaction cycle includes interactions between an organization and its suppliers?
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5.Which of the following is NOT a means by which information improves decision making?a.increased information overloadb.reduces uncertaintyc.provides feedback about the effectiveness of prior decisionsd.identifies situations requiring management action
6.In the value chain concept, upgrading IT is considered what kind of activity?
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7.When a subsystem’s goals are inconsistent with the goals of another subsystem, or with the system as a whole,it is called
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8.Which of the following is a function of an AIS?
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9.A firm, its suppliers, and its customers collectively form which of the following?a.supply chainb.ERP systemc.value chaind.AIS
10.A report telling how well all approved vendors have performed in the prior 12 months is information that isMOST needed in which business process?
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Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…
A: Accrual basis of accounting: Accrual basis of accounting refers to recognizing the expenses and…
Q: Explain the accounting processing cycle.
A: Click to see the answer
Q: Which entity is most likely to be part of both the payroll cycle Pand the expenditure cycle اختواحد…
A: Cash disbursement represents the distribution of cash from one party to another. It is the cash…
Q: The subsidiary ledger that includes customer account activity is called the a. asset ledger b.…
A: Under subsidiary ledger, all activities related to customer is recorded.
Q: Identify an activity base that could be used to charge user divisions for services for each…
A: Concept Introduction: Activity Based Costing (ABC): ABC costing method is generally used to allocate…
Q: Explain whether the cost of accounting systems primarily support internal or external reporting
A: Cost Accounting System: Cost accounting system can be defined as a framework designed by the…
Q: How do an organization's activities and lines of business impact the design of an Accounting…
A: Accounting Information Systems or AIS is the system which includes processing, gathering and storing…
Q: which internal users need the accounting information
A: Accounting information data is the data that emerges from business exchanges. When distinguished,…
Q: Users of accounting information can be identified as internal and external users. List two of users…
A: The 4 financial statement A balance sheet is a financial statement that represents the financial…
Q: Identify the following users of accounting information as either an (a) external or (b) internal…
A: Click to see the answer
Q: Prepare an entity relationship diagram, in good form, for the expenditure cycle, which consists of…
A: Click to see the answer
Q: plogically record a business's
A: To explain the record of business debit and credit transactions.
Q: Individual customer accounts are kept in a ledger O purchase ledger O sales ledger O general ledger…
A: Solution: Individual customer accounts are kept in a ledger called a "Subsidiary ledger".
Q: Identify the following users of accounting information as either an (a) external or (b) internal…
A: Internal users: Internal users of the financial statement are the inside individuals or the members…
Q: Use the flowchart to answer these questions:a. What accounting document is represented by symbol…
A: Click to see the answer
Q: What is the first step in the accounting processing cycle? What role do source documents fulfill in…
A: Accounting Processing Cycle: Accounting processing cycle refers to the process of recording a…
Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…
A: Identifying function: helps the organization to select from its business activities, the…
Q: is the segment of activity of a business which is responsible for both revenue and expenses. a.…
A: The segment which is responsible for revenue and expenses is the profit center but it is not…
Q: Describe the internal role of accounting for organizations.
A: Accounting refers to the method of communicating financial information to users such as investors,…
Q: are the main activities and please explain how each of those activities are performed in the…
A: Transaction Process: Transaction process system helps a business to process all the transactions…
Q: Accounting is the information system that Measures business activities. Communicates the results to…
A: " All of the above is the correct option" as accounting is the information system that examines the…
Q: Components of an accounting information system Measures working people hardware all of the above
A: The accounting information systems records and process both the financial and non financial…
Q: Identifying users of accounting information For each of the users of accounting information,…
A: Click to see the answer
Q: Define accounting cycle
A: Accounting: It can be defined as the process of summarizing and recording the financial events and…
Q: An accounting clerk would take first which of the following steps? A. Post individual amounts to the…
A: Option B is correct.
Q: What are the key activities and the logical tasks, sources and uses of information, and movement of…
A: The spending or the expenditure cycle also known as the buy and pay cycle, invoices all processes…
Q: Explain accounting process cycle.
A: Accounting Cycle: The accounting cycle refers to the process of recording a business transaction in…
Q: An organization needs to keep flow of information with various internal and external parties.…
A: Accounting is defined as the procedure for recording, interpreting as well as summarizing the…
Q: Discuss what is meant by the statement, “The accounting system is a conceptual flow of…
A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…
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