Accounting Information Systems, 3rd Edition TEST BANK by
Vernon Richardson, Verified Chapters 1 - 18, Complete Newest
Version
Information Systems - ANSWER:consist of interrelated components that work
together to achieve an objective
Accounting Information Systems - ANSWER:preforms the same data collection,
transformation, and reporting as all information systems, but it is specific to
accounting and financial data
Business Model - ANSWER:A company's plan for making a profit
Business Processes - ANSWER:a group of related business events designed to
accomplish the strategic objectives of the businesses
Four Business Events - ANSWER:Operating, Financing, Investing, and Information
Key performance indicators (KPIs) - ANSWER:The quantifiable metrics a company
uses to evaluate progress toward critical success factors
Relevance - ANSWER:The quality of information that indicates the information
makes a difference in a decision.
Faithful Representation - ANSWER:information that is complete, neutral, and free
from error
Verifiability - ANSWER:occurs when independent measurers, using the same
methods, obtain similar results
timeliness - ANSWER:Information is available prior to the decision
Understandability - ANSWER:Information presented in a clear and concise fashion so
that users can interpret it and comprehend its meaning.
decision context - ANSWER:the preferences, constraints, and other factors that
affect how a decision is made
Reporting - ANSWER:the process of aggregating data into information on the
activities and performance in a company
Data analytics - ANSWER:is the process of using technology to transform raw data, or
facts, into useful information
Vernon Richardson, Verified Chapters 1 - 18, Complete Newest
Version
Information Systems - ANSWER:consist of interrelated components that work
together to achieve an objective
Accounting Information Systems - ANSWER:preforms the same data collection,
transformation, and reporting as all information systems, but it is specific to
accounting and financial data
Business Model - ANSWER:A company's plan for making a profit
Business Processes - ANSWER:a group of related business events designed to
accomplish the strategic objectives of the businesses
Four Business Events - ANSWER:Operating, Financing, Investing, and Information
Key performance indicators (KPIs) - ANSWER:The quantifiable metrics a company
uses to evaluate progress toward critical success factors
Relevance - ANSWER:The quality of information that indicates the information
makes a difference in a decision.
Faithful Representation - ANSWER:information that is complete, neutral, and free
from error
Verifiability - ANSWER:occurs when independent measurers, using the same
methods, obtain similar results
timeliness - ANSWER:Information is available prior to the decision
Understandability - ANSWER:Information presented in a clear and concise fashion so
that users can interpret it and comprehend its meaning.
decision context - ANSWER:the preferences, constraints, and other factors that
affect how a decision is made
Reporting - ANSWER:the process of aggregating data into information on the
activities and performance in a company
Data analytics - ANSWER:is the process of using technology to transform raw data, or
facts, into useful information
