WGU D217 ACCOUNTING INFORMATION SYSTEMS
EXAM QUESTIONS AND ANSWERS VERIFIED
The primary input to the transaction processing system is
a financial transaction
The major difference between the financial reporting system (FRS) and the
management reporting system (MRS) is the
FRS provides information to external users; the MRS provides information to internal
users.
The author distinguishes between the accounting information system and the
management information system based on
whether the transactions are financial or nonfinancial that directly affect the processing
of financial transactions
An example of a financial transactions is
the purchase of computer
An example of a nonfinancial transaction is
log of customer calls
,The transaction processing system includes which of the following
the conversion cycle
The goal of data processing is
the production of useful information
Which of the following is an external end user?
tax authorities
An appraisal function housed within the organization that performs a wide range of
services for management is
internal auditing
What factor conceptually distinguishes external auditing and internal auditing?
constituents
What system is part of the expenditure cycle?
cash disbursements
,Both the revenue and the expenditure cycle can be viewed as having two parts. These
key parts are
physical and financial
System flowcharts do which one of the following?
represent relationships between key elements of both manual and computer systems
Which symbol is used to represent a data source or destination of documents and
reports in a system flowchart?
oval
Which accounting application is least suited to batch processing?
Sales Order Processing
In contrast to a real-time system, in a batch processing system
there is a lag between the time when the economic event occurs, and the financial
records are updated.
In contrast to a batch processing system, in a real-time system
processing takes place when the economic event occurs.
The coding scheme most appropriate for a chart of accounts is
, block code
When a firm wants its coding system to convey meaning without reference to any other
document, it would choose
a mnemonic code
The most important advantage of sequential coding is that
missing or unrecorded documents can be identified.
Li has implemented a new accounting information system (AIS) to help him manage his
construction company. Li uses the information captured by the system to plan each
project, forecasting the requirements for raw materials and the cash flow expected.
Which AIS subsystem helps Li in planning?
Management Reporting System (MRS)
Which information does the management reporting system (MRS) provide?
Variance reports
Useful information has the following characteristics: relevance, timeliness, accuracy,
completeness, and summarization. What happens if the information is old?
The decision maker wastes resources analyzing outdated information.
EXAM QUESTIONS AND ANSWERS VERIFIED
The primary input to the transaction processing system is
a financial transaction
The major difference between the financial reporting system (FRS) and the
management reporting system (MRS) is the
FRS provides information to external users; the MRS provides information to internal
users.
The author distinguishes between the accounting information system and the
management information system based on
whether the transactions are financial or nonfinancial that directly affect the processing
of financial transactions
An example of a financial transactions is
the purchase of computer
An example of a nonfinancial transaction is
log of customer calls
,The transaction processing system includes which of the following
the conversion cycle
The goal of data processing is
the production of useful information
Which of the following is an external end user?
tax authorities
An appraisal function housed within the organization that performs a wide range of
services for management is
internal auditing
What factor conceptually distinguishes external auditing and internal auditing?
constituents
What system is part of the expenditure cycle?
cash disbursements
,Both the revenue and the expenditure cycle can be viewed as having two parts. These
key parts are
physical and financial
System flowcharts do which one of the following?
represent relationships between key elements of both manual and computer systems
Which symbol is used to represent a data source or destination of documents and
reports in a system flowchart?
oval
Which accounting application is least suited to batch processing?
Sales Order Processing
In contrast to a real-time system, in a batch processing system
there is a lag between the time when the economic event occurs, and the financial
records are updated.
In contrast to a batch processing system, in a real-time system
processing takes place when the economic event occurs.
The coding scheme most appropriate for a chart of accounts is
, block code
When a firm wants its coding system to convey meaning without reference to any other
document, it would choose
a mnemonic code
The most important advantage of sequential coding is that
missing or unrecorded documents can be identified.
Li has implemented a new accounting information system (AIS) to help him manage his
construction company. Li uses the information captured by the system to plan each
project, forecasting the requirements for raw materials and the cash flow expected.
Which AIS subsystem helps Li in planning?
Management Reporting System (MRS)
Which information does the management reporting system (MRS) provide?
Variance reports
Useful information has the following characteristics: relevance, timeliness, accuracy,
completeness, and summarization. What happens if the information is old?
The decision maker wastes resources analyzing outdated information.
