Question 1

Data about which of the following facets of a business activity is most likely to be recorded in a transaction file?

Accepted Answer

A)   business activity
B)   resources affected by the business activity
C)   people who participate in the business activity
D)   place the business activity occursE) B) and C)
F) A) and C)

Question 2

Identify the statement below that is not true with regards to the accounts receivable subsidiary ledger.

Accepted Answer

A)   Every credit sale is entered individually into the subsidiary ledger.
B)   Debits and credits in the subsidiary ledger must always equal.
C)   The subsidiary ledgers play an important role in maintaining the accuracy of the data stored in the AIS.
D)   The total of the subsidiary ledgers must equal the control account.E) A) and D)
F) All of the above

Question 3

ERP stands for

Accepted Answer

A)   enterprise resource planning.
B)   enterprise resource program.
C)   enterprise reporting program.
D)   none of the aboveE) B) and D)
F) B) and C)

Question 4

Data must be collected about three facets of each business activity.What are they?

Accepted Answer

A)   the business activity, the resources it affects, the people who participate
B)   the business activity, the transactions it creates, the impact on the financial statements
C)   the inputs, outputs and processes used
D)   who is involved, what was sold, how much was paidE) B) and C)
F) All of the above A

Question 5

Antia Carmie is the largest collector and retailer of Japanese fans in the St.Louis area.Antia uses computer technology to provide superior customer service.The store's database system was designed to make detailed information about each Japanese fan easily accessible to her customers.Accordingly,the fan price and condition are provided for each fan,along with many pictures of each fan.In Antia's database,the data about each Japanese fan's price is stored in a(n)

Accepted Answer

A)   entity.
B)   attribute.
C)   field.
D)   record.E) B) and D)
F) All of the above

Question 6

Describe four advantages and four disadvantages of implementing an ERP system at a multinational corporation.

Accepted Answer

Advantages
Integrating information break...

Question 7

What is the first step in the data processing cycle?

Accepted Answer

A)   input
B)   output
C)   storage
D)   purchasingE) B) and C)
F) C) and D)

Question 8

All of the following are ERP vendors except

Accepted Answer

A)   Dell.
B)   SAP.
C)   Oracle.
D)   Microsoft.E) B) and D)
F) B) and C) A

Question 9

All of the following are reasons that implementing a new ERP may fail except

Accepted Answer

A)   employees may resist using the ERP system.
B)   ERPs can take years to fully implement.
C)   employees may refuse to share sensitive information with different departments.
D)   ERPs may require procedures and reports to be standardized across business units.E) All of the above
F) None of the above

Question 10

A purchase requisition is a common source document used to facilitate which business activity?

Accepted Answer

A)   customer sale
B)   receipt of goods
C)   inventory purchase
D)   purchase requestE) A) and B)
F) All of the above

Question 11

Antia Carmie is the largest collector and retailer of Japanese fans in the St.Louis area.Antia uses computer technology to provide superior customer service.The store's database system was designed to make detailed information about each Japanese fan easily accessible to her customers.Accordingly,the fan price and condition are provided for each fan,along with many pictures of each fan.In Antia's database,the price of the Japanese fans is a(n)

Accepted Answer

A)   entity.
B)   attribute.
C)   field.
D)   record.E) A) and D)
F) B) and C)

Question 12

The Cape Fear Rocket Club heads out to the dunes of Cape Fear,Oregon every August to pierce the sky with their fiery projectiles.An enterprising seller of t-shirts has devised a series of designs that capture the spirit of the event in silk-screened splendor.His employees can be found on many of the major intersections selling his products out of the backs of pickup trucks.What is the best way for this business to ensure that sales data entry is efficient and accurate?

Accepted Answer

A)   well-designed paper forms
B)   source data automation
C)   turnaround documents
D)   sequentially numbered formsE) A) and C)
F) A) and D) D

Question 13

The general ledger account that corresponds to a subsidiary ledger account is known as a(n)

Accepted Answer

A)   dependent account.
B)   control account.
C)   credit account.
D)   attribute account.E) A) and D)
F) B) and D)

Question 14

Traditionally,accounting information systems have been used to collect,process,store and report non-financial information.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements regarding special journals is not true?

Accepted Answer

A)   The balances in a special journal must always reconcile to the general ledger.
B)   Special journals are used to record large numbers of repetitive transactions.
C)   Special journals are periodically summarized and posted to the general ledger.
D)   Special journals provide a specialized format for recording similar transactions.E) A) and C)
F) A) and D)

Question 16

In Petaluma,California,electric power is provided to consumers by Pacific Power.Each month Pacific Power mails bills to 86,000 households and then processes payments as they are received.What is the best way for this business to ensure that payment data entry is efficient and accurate?

Accepted Answer

A)   well-designed paper forms
B)   source data automation
C)   turnaround documents
D)   sequentially numbered billsE) A) and C)
F) A) and B)

Question 17

Source documents generally help to improve accuracy in transaction processing because

Accepted Answer

A)   they specify which information to collect.
B)   logically related data can be grouped in the same area of the document.
C)   they provide directions and steps for completing the form.
D)   All of the above are correct.E) A) and B)
F) None of the above

Question 18

Which of the following statements is not correct?

Accepted Answer

A)   The audit trail is intended to verify the validity and accuracy of transaction recording.
B)   The audit trail consists of records stored sequentially in an audit file.
C)   The audit trail provides the means for locating and examining source documents.
D)   The audit trail is created with document numbers and posting references.E) B) and C)
F) A) and B)

Question 19

Which statement below regarding the AIS and managerial reports is false?

Accepted Answer

A)   The AIS is best utilized for financial data while the management information system is best utilized for operational data.
B)   The AIS must be able to provide managers with detailed operational information about the organization's performance.
C)   Both financial and nonfinancial data are required for proper and complete evaluation of organizational performance.
D)   Most source documents capture both financial and nonfinancial data about business transactions.E) None of the above
F) A) and B)

Question 20

What is the purpose of source documents? What controls are embedded in source documents? Give two examples of source documents.

Accepted Answer

The primary purpose of source documents ...

Exam 2: Overview of Transaction Processing and Enterprise Resource Planning Systems

Data about which of the following facets of a business activity is most likely to be recorded in a transaction file?

Correct Answer
verified

Identify the statement below that is not true with regards to the accounts receivable subsidiary ledger.

Correct Answer
verified

ERP stands for

Correct Answer
verified

Data must be collected about three facets of each business activity.What are they?

Correct Answer
verified
A

Correct Answer
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Describe four advantages and four disadvantages of implementing an ERP system at a multinational corporation.

Correct Answer
verified
Advantages
Integrating information break...
View Answer

What is the first step in the data processing cycle?

Correct Answer
verified

All of the following are ERP vendors except

Correct Answer
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A

All of the following are reasons that implementing a new ERP may fail except

Correct Answer
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A purchase requisition is a common source document used to facilitate which business activity?

Correct Answer
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Correct Answer
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Correct Answer
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D

The general ledger account that corresponds to a subsidiary ledger account is known as a(n)

Correct Answer
verified

Traditionally,accounting information systems have been used to collect,process,store and report non-financial information.

Correct Answer
verified

Which of the following statements regarding special journals is not true?

Correct Answer
verified

In Petaluma,California,electric power is provided to consumers by Pacific Power.Each month Pacific Power mails bills to 86,000 households and then processes payments as they are received.What is the best way for this business to ensure that payment data entry is efficient and accurate?

Correct Answer
verified

Source documents generally help to improve accuracy in transaction processing because

Correct Answer
verified

Which of the following statements is not correct?

Correct Answer
verified

Which statement below regarding the AIS and managerial reports is false?

Correct Answer
verified

What is the purpose of source documents? What controls are embedded in source documents? Give two examples of source documents.

Correct Answer
verified
The primary purpose of source documents ...
View Answer

Exam 2: Overview of Transaction Processing and Enterprise Resource Planning Systems

Data about which of the following facets of a business activity is most likely to be recorded in a transaction file?

Correct AnswerverifiedShow Answer

Identify the statement below that is not true with regards to the accounts receivable subsidiary ledger.

Correct AnswerverifiedShow Answer

ERP stands for

Correct AnswerverifiedShow Answer

Data must be collected about three facets of each business activity.What are they?

Correct AnswerverifiedA

Correct AnswerverifiedShow Answer

Describe four advantages and four disadvantages of implementing an ERP system at a multinational corporation.

Correct AnswerverifiedAdvantagesIntegrating information break...View AnswerShow Answer

What is the first step in the data processing cycle?

Correct AnswerverifiedShow Answer

All of the following are ERP vendors except

Correct AnswerverifiedA

All of the following are reasons that implementing a new ERP may fail except

Correct AnswerverifiedShow Answer

A purchase requisition is a common source document used to facilitate which business activity?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedD

The general ledger account that corresponds to a subsidiary ledger account is known as a(n)

Correct AnswerverifiedShow Answer

Traditionally,accounting information systems have been used to collect,process,store and report non-financial information.

Correct AnswerverifiedShow Answer

Which of the following statements regarding special journals is not true?

Correct AnswerverifiedShow Answer

In Petaluma,California,electric power is provided to consumers by Pacific Power.Each month Pacific Power mails bills to 86,000 households and then processes payments as they are received.What is the best way for this business to ensure that payment data entry is efficient and accurate?

Correct AnswerverifiedShow Answer

Source documents generally help to improve accuracy in transaction processing because

Correct AnswerverifiedShow Answer

Which of the following statements is not correct?

Correct AnswerverifiedShow Answer

Which statement below regarding the AIS and managerial reports is false?

Correct AnswerverifiedShow Answer

What is the purpose of source documents? What controls are embedded in source documents? Give two examples of source documents.

Correct AnswerverifiedThe primary purpose of source documents ...View AnswerShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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A

Correct Answer
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Correct Answer
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Advantages
Integrating information break...
View Answer

Correct Answer
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Correct Answer
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A

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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D

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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The primary purpose of source documents ...
View Answer