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    Chapter 1 - Quiz

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    Persephoneeei
    This document contains 25 multiple choice questions testing knowledge of business resources, management levels, accounting and information systems concepts, business functions, accounting principles, and cloud computing models. The questions cover topics such as the responsibilities of different management levels, examples of financial and non-financial transactions, the components of an accounting information system, characteristics of effective data and databases, business functions like finance and marketing, accounting principles like independence and distributed data processing approaches.

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    Chapter 1 - Quiz

    Uploaded by

    Persephoneeei
    151 views4 pages
    This document contains 25 multiple choice questions testing knowledge of business resources, management levels, accounting and information systems concepts, business functions, accounting principles, and cloud computing models. The questions cover topics such as the responsibilities of different management levels, examples of financial and non-financial transactions, the components of an accounting information system, characteristics of effective data and databases, business functions like finance and marketing, accounting principles like independence and distributed data processing approaches.

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    This document contains 25 multiple choice questions testing knowledge of business resources, management levels, accounting and information systems concepts, business functions, accounting principles, and cloud computing models. The questions cover topics such as the responsibilities of different management levels, examples of financial and non-financial transactions, the components of an accounting information system, characteristics of effective data and databases, business functions like finance and marketing, accounting principles like independence and distributed data processing approaches.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    151 views4 pages

    Chapter 1 - Quiz

    Uploaded by

    Persephoneeei
    This document contains 25 multiple choice questions testing knowledge of business resources, management levels, accounting and information systems concepts, business functions, accounting principles, and cloud computing models. The questions cover topics such as the responsibilities of different management levels, examples of financial and non-financial transactions, the components of an accounting information system, characteristics of effective data and databases, business functions like finance and marketing, accounting principles like independence and distributed data processing approaches.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    MULTIPLE CHOICE

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


    a. raw material
    b. labor
    c. information
    d. all are business resources
    2. Which level of management is responsible for short-term planning and coordination of activities
    necessary to accomplish organizational objectives?
    a. operations management
    b. middle management
    c. top management
    d. line management
    3. Which level of management is responsible for controlling day-to-day operations?
    a. top management
    b. middle management
    c. operations management
    d. executive management
    4. Location-independent computing in which shared data centers deliver hosted IT services over the
    Internet.
    a. IT outsourcing
    b. Network administration
    c. Cloud computing
    d. Custom software
    5. The value of information for users is determined by all of the following but
    a. reliability
    b. relevance
    c. convenience
    d. completeness
    6. An example of a nonfinancial transaction is
    a. sale of products
    b. cash disbursement
    c. log of customer calls
    d. purchase of inventory

    7. An example of a financial transaction is


    a. the purchase of computer
    b. a supplier’s price list
    c. a delivery schedule
    d. an employee benefit brochure
    8. Which subsystem is not part of the Accounting Information System?
    a. Transaction Processing System
    b. Expert System
    c. General Ledger/Financial Reporting System
    d. Management Reporting System
    9. The major difference between the Financial Reporting System (FRS) and the Management Reporting
    System (MRS) is the
    a. FRS provides information to internal and external users; the MRS provides information to
    internal users
    b. FRS provides discretionary information; the MRS provides nondiscretionary information
    c. FRS reports are prepared using information provided by the General Ledger System; the
    MRS provides information to the General Ledger System
    d. FRS reports are prepared in flexible, nonstandardized formats; the MRS reports are
    prepared in standardized, formal formats
    10. The purpose of the Transaction Processing System includes all of the following except
    a. converting economic events into financial transactions
    b. recording financial transactions in the accounting records
    c. distributing essential information to operations personnel to support their daily operations
    d. measuring and reporting the status of financial resources and the changes in those
    resources
    11. The Transaction Processing System includes all of the following cycles except
    a. the revenue cycle
    b. the administrative cycle
    c. the expenditure cycle
    d. the conversion cycle

    12. The primary input to the Transaction Processing System is


    a. a financial transaction
    b. an accounting record
    c. an accounting report
    d. a nonfinancial transaction

    13. When designing the data collection activity, which type of data should be avoided?
    a. data that is relevant
    b. data that is efficient
    c. data that is redundant
    d. data that is accurate
    14. The most basic element of useful data in the database is
    a. the record
    b. the key
    c. the file
    d. the attribute
    15. In a database, a complete set of attributes for a single occurrence of an entity class is called
    a. a key
    b. a file
    c. a record
    d. a character
    16. Effective information has all of the following characteristics except
    a. relevance
    b. completeness
    c. summarization
    d. structure
    17. Database management tasks do not include
    a. summarization
    b. storage
    c. retrieval
    d. deletion
    18. The author distinguishes between the Accounting Information System and the management Information
    System based on
    a. whether the transactions are financial or nonfinancial
    b. whether discretionary or nondiscretionary reports are prepared
    c. the end users of the reports
    d. the organizational structure of the business
    19. Which activity is not part of the finance function?
    a. cash receipts
    b. portfolio management
    c. credit
    d. general ledger
    20. Market research and advertising are part of which business function?
    a. materials management
    b. finance
    c. marketing
    d. production
    21. Which function manages the financial resources of the firm through portfolio management, banking,
    credit evaluation, and cash receipts and disbursements?
    a. accounting
    b. finance
    c. materials management
    d. distribution
    22. Which of the following is not part of the accounting function?
    a. managing the financial information resource of the firm
    b. capturing and recording transactions in the database
    c. distributing transaction information to operations personnel
    d. managing the physical information system of the firm
    23. The term “accounting independence” refers to
    a. data integrity
    b. separation of duties, such as record keeping and custody of physical resources
    c. generation of accurate and timely information
    d. business segmentation by function
    24. In the distributed data processing approach
    a. computer services are consolidated and managed as a shared organization resource
    b. the computer service function is a cost center
    c. the end users are billed using a charge-back system
    d. computer services are organized into small information processing units under the control
    of end users
    25. Which of the following is not a cloud computing service?
    a. Software as a service
    b. Infrastructure as a service
    c. Network as a service
    d. Platform as a service

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