85 test bank for accounting information systems the crossroads of accounting and IT 1st edition

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85 Test Bank for Accounting Information Systems The Crossroads of Accounting and IT 1st Edition

True - False Questions

A database may have two or more tables with the exact same name

1 True

2 False

The enterprise-wide view of accounting enables the accountant

to see how the accounting system interacts with other

subsystems in the enterprise system

A Supply Chain Management (SCM) system is a subsystem of

Enterprise Resource Planning (ERP) software focuses on

integrating information flows across an entire enterprise

1 True

2 False

An IT auditor must understand the terms and definitions used

by accounting and IT professionals

1 True

2 False

Private companies (companies that are not publicly traded) are not required to have their internal controls assessed by an independent CPA firm

An IT audit includes auditing the System Development Life Cycle (SDLC)

Multiple Choice Questions - Page 1

Which of the following is the best way to protect information assets?

1 A) Limit the number of users that can access the data at the same time to 5 people.

2 B) Implement policies and procedures for data deletion (destruction).

3 C) Limit the amount of time a user may access the data.

4 D) Require an ID and password to access data in the databases.

Which of the following data is shared between a Customer relationship management system and an accounting system?

1 A) Employee information

2 B) The advertising costs

3 C) The cost of goods sold

4 D) Vendor information

The module in the Baseline Accounting System consists of transactions such as the purchasing of goods or services from a vendor

1 A) Accounting information available to internal users, primarily management

2 B) Detailed information recorded in the accounting system

3 C) An enterprise-wide view of an organization showing the entire accounting system

4 D) Information available on the tax reports for the Internal Revenue Service and other tax agencies

To record an inventory order, the information would be entered

in a screen that looks similar to which paper form?

1 A) Check

2 B) Sales Receipt

3 C) Purchase Order

4 D) Invoice

What is an alternative to "hard keyed" data?

1 A) Using variables in the program, such as cell addresses in a spreadsheet

2 B) Creating the program in a way that does not require data

3 C) If user requirements are correctly defined, the data will not change and may be

"hard keyed."

4 D) Alternatives to "hard keyed" data is not possible All data must be "hard keyed."

When data is "hard keyed" into the program, which of the

following is true?

1 A) Changing the data is cost efficient and may be accomplished in a matter of minutes.

2 B) Changing the data is costly and may take days or weeks.

3 C) Changing the data requires purchasing additional computer storage and may take days or weeks.

4 D) Changing the data requires recreating (recoding) the entire program.

Which transactions are usually performed in the Customers module of the Baseline Accounting System?

1 A) Pay Bills

2 B) Create Purchase Order

3 C) Create Invoice

1 A) Accounting information available to internal users, primarily management

2 B) Detailed information recorded in the accounting system

3 C) An enterprise-wide view of an organization showing the entire accounting system

4 D) Information available on the tax reports for the Internal Revenue Service and other tax agencies

Which accounting software is designed for a large-scale

company?

1 A) SAP Business All-in-One

2 B) SAP Business One

3 C) Oracle's JD Edwards EnterpriseOne

4 D) Oracle's PeopleSoft Enterprise

Which of the following data is shared between a

operations/production system and an accounting system?

1 A) The cost of the raw materials

2 B) The monthly sales levels

3 C) The current inventory levels of the finished product

4 D) Customer information

The three basic functions of an enterprise system are

1 A) Processing, Output, and Reports

2 B) Input, Data, and Reports

3 C) Input, Processing, and Output

4 D) Business Intelligence, Processing, and Output

What is the main benefit of a company giving vendors access to the enterprise system?

1 A) To suggest new products to sell

2 B) To help test the system security

3 C) To provide suggestions on improving the enterprise system

4 D) To coordinate inventory deliveries

The reports module produces for the following people except

4 D) All the above except C.

The purchasing cycle consists of transactions between which entities?

1 A) A company and vendors

2 B) A company and employees

3 C) A company and customers

4 D) A company and a bank

The module consists of transactions for payroll

1 A) The sale price of the finished product

2 B) The current inventory levels of the raw materials

3 C) The product delivery costs

4 D) The number of hours employees worked to create the product

What is the purpose of an onscreen entry form?

1 A) Onscreen entry forms help ensure information is entered only once in the database.

2 B) Onscreen entry forms provide a familiar interface for entering information into a database.

3 C) Onscreen entry forms allow you perform data analysis that is cumbersome in a relational database.

4 D) Onscreen entry forms provide predictive modeling to gain insights from data to improve business decisions.

Which event is part of the Purchasing Cycle?

1 A) Enter Bill

2 B) Pay Bill

3 C) Make Deposit

4 D) Create Invoice

What modules comprise a baseline accounting system?

1 A) Vendors, Employees, Sales, Banking, Financial, and Reports

2 B) Inventory, Employees, Sales, Banking, Financial, and Reports

3 C) Inventory, Employees, Sales, Banking, Accounting, and Reports

4 D) Vendors, Employees, Customers, Banking, Financial, and Reports

Which event is part of the Sales Cycle?

1 A) Receive Item

2 B) Enter Time

3 C) Make Deposit

4 D) Create Purchase Order

What is the purpose of Enterprise Resource Planning (ERP) software?

1 A) Identify new trends in consumer purchasing

2 B) Help managers control organizational resources

3 C) Help identify the end of a product's life cycle

4 D) Analyze an organization's sales projections

Which of the following professionals is the most important group an IT auditor must be able to communicate?

1 A) Accounting and Human Resource professionals

2 B) IT and Sales professionals

3 C) Accounting and IT professionals

4 D) Sales and Human Resource professionals

50 Free Test Bank for Accounting Information Systems The Crossroads of Accounting and IT 1st Edition by Kay Multiple Choice Questions - Page 2

Which of the following agents is internal to a company?

When designing a database, which field would not belong in a table storing customer information?

1 A) Zip Code

2 B) Street Address

3 C) Last Name

4 D) Order Number

Online Analytical Processing (OLAP) cubes allow you to

1 A) View the same data from just one perspective

2 B) Manipulate data in a spreadsheet

3 C) View the same data from different perspectives

4 D) Add data to the database

Spreadsheets containing data extracted from a relational

database are called what?

2 B) Architecture

3 C) Technology

4 D) Network

In a relational database, how are tables connected?

1 A) By fields that are common in two or more tables

2 B) By the table names

3 C) By a query statement

4 D) By network addresses

Which act requires publicly traded companies to assess the effectiveness of their internal controls and have an independent CPA firm audit this assessment?

1 A) Wheat Commission

2 B) Sarbanes-Oxley Act of 2002

3 C) Security Exchange Commission Act of 1934

4 D) The GAAP Act of 1932

Which of the following processes are performed in the

Designing Phase of the SDLC?

1 A) Identify the requirements for the new system

2 B) Test the new system

3 C) Identify the new business processes

4 D) Install the new system

In an accounting system database, which field belongs in a table containing inventory information?

1 A) Invoice Number

2 B) Purchase Order

3 C) Vendor ID

1 A) People, Processes, and Technology

2 B) People, Budget, and Time

3 C) Processes, Budget, and Time

4 D) Time, Processes, and Technology

How much time do accountants spend using spreadsheets?

The following field names are part of a table for a company's inventory Which field name could be the primary key for this table?

1 A) With the outcome in mind

2 B) The accounting software

3 C) The paper forms

4 D) The development phase of the software development life cycle

What is the purpose of a database query?

1 A) To provide a format for viewing data

2 B) To search the database to answer a specific question

3 C) To connect related tables

4 D) To uniquely identify a record in a database table

In an accounting system database, which field belongs in a table containing customer information?

2 B) Security and controls are to prevent data analysis.

3 C) Security and controls are to frustrate employees with legitimate need to access information assets.

4 D) Security and controls are to ensure all the information assets are available to all employees.

A is a collection of related database tables

1 A) Field

2 B) Relational Database

3 C) Operational Database

4 D) Primary Key

Free Text Questions

What types of data does an operations/production system and

an accounting system need to share? How does each system use that data?

Answer Given

An operations/production system and an accounting system would share production employee information, work in process, and the current level of finished product (The student may provide additional types of data.) The operations/production system usesthe employee information to estimate production capacity The work in process and current level of finished product issued to calculate needed production rate The accounting system uses the employee data to run payroll The work in process and current level of finished product is used in various financial reports

What types of data does a Supply Chain Management system and an accounting system need to share? How does each

system use that data?

Answer Given

A Supply Chain Management system and an accounting system would share vendor information (company name, primary contact, address, and phone number), items supplied by the vendor, purchase orders, delivery dates, delivery receipt., and current raw material inventory levels (The student may provide additional types of data.) The Supply Chain Management system uses this information to order more supplies and verify delivery content Raw material inventory levels are used to calculate when to order more raw materials The accounting system uses this data to know which vendor

to pay, how much to pay the vendor, and when to pay the vendor Raw material

inventory is used in various financial reports

You are an accountant and one of your clients is a small

business that sells only over the Internet How would you

convince the owner to purchase an integrated enterprise

system?

Answer Given

The answer should include the following information: - SCM: items are automatically removed from inventory and calculations made for reordering from vendors, identify fast moving items (keep reordering from vendor ) or slow moving items (consider removing from inventory); - CRM: the purchase is analyze for trends, products

purchased at a particular time of day and/or day of the week, analyze for more

targeted marketing (coupons); - Operations/Production System: track shipping

supplies; - Human Resources Planning: track appropriate personnel positions

(more/less people for gathering items in the purchase, more/less people for packaging the purchase, more/less people in the shipping department, etc.)

How can data in an accounting information system improve decision making? Provide examples of these decisions.

Answer Given

Data in an accounting information system can improve decision making by being transformed into information With further analysis, that information is transformed in tobusiness intelligence Business intelligence can help a business predict what type of new product customers will buy next year and/or what type of existing product

customers will stop buying next year It can help a business increase sales and reducereturns Business intelligence can help investors decide if they should invest in the company or sell any existing investments in company Business intelligence can help banks decide if they should loan the company money

If you were the person entering transactions into an accounting system, why would you want the input screens to look like

paper forms?

Answer Given

Input screens that mirror paper forms provide a familiar interface for entering data This reduces the amount of time needed to learn how to enter data and learn the system The familiarity also helps the user to become comfortable with the system

You are an intern at a small mom-and-pop type corner grocery store The owner's accountant is trying to talk the owners into purchasing an integrated enterprise system for small

businesses The owner thinks the accountant is just trying find

a way to charge more money How would you convince the owner each piece of the integrated enterprise system would help the business?

Answer Given

The answer should include the following information: - Supply Chain Management: items are automatically removed from inventory and calculations made for reordering from vendors, identify fast moving items (keep reordering from vendor ) or slow

moving items (consider removing from inventory); - Customer Relationship

Management: the purchase is analyze for trends, products purchased at a particular time of day and/or day of the week, analyze for more targeted marketing (coupons); - Operations/Production System : track items from the meat counter/deli/bakery to knowwhen to order inputs (flour, sugar, various meat products, etc.); - Human Resources Management: track appropriate personnel positions (more/less bakers, more/less butchers, more/less sales clerks, more/less stockers, etc.)

How are database tables connected in a relational database? How does this help prevent entering data multiple times?

Please provide an example.

Answer Given

Database tables in a relational database are connected by fields that are common to two or more tables The common field is usually the primary key for one of the tables This connection helps prevent entering data multiple times by associating data in one table with data in another table For example, customer information is usually stored in

a table (Customer) with a primary key (Customer ID) and sales order (Order)

information are stored in another table with a primary key (Order NO) By including a field for Customer ID in the Order table, the Order table and Customer table are connected (The student may provide a different example.)

Identify the six modules in the baseline accounting system Which transaction cycle is associated with each module? What type of transactions are associated with each module?

Answer Given

- Vendor module — consists of transactions with vendors; this module relates to the purchasing cycle; - Customer module — consists of transactions with customers; this module relates to the sales cycle; - Employee module — consists of transactions with employees for payroll; this module relates to the payroll cycle; - Banking module — involves cash received (deposits) and cash paid (checks/withdrawals) with the

enterprise's bank; this modules does not relate to a transaction cycle; - Financial module — consists of other transactions that are not part of the other modules; for example, adjusting entries, correcting entries, and closing entries; this module relates

to the financial cycle; - Reports module — consists of output from the Accounting system (hard copies and soft copies); for example financial reports, tax reports, and management reports; this module does not relate to a transaction cycle