CAS1501 Chapter 1 the
Information
System: An
Accountant's
Perspective
PROWRITERS2016
, Chapter 1 The Information System: An Accountant's Perspective
1. Are specialized subset of information systems that processes financial
transactions.: Accounting Information System
2. Are the flows of information intro and out of an organization.: Information
Flows
3. Is a category of external user, including customer sales and billing informa-
tion, purchase information for suppliers, and inventory receipts information.-
: Trading Partners
4. Are entities either inside or outside an organization that have a direct or
indirect interest in the firm.: Stakeholders
5. Is the set of formal procedures by which data are collected, processed into
information, and distributed to users.: Information System
6. Is a system that processes nonfinancial transactions not normally
processed by traditional accounting information systems.: Management Infor-
mation System
7. Is an event that affects or is of interest to the organization and is processed
by its information system as unit of work.: Transaction
8. Is an economic event that affects the assets and equities of the organiza-
tion, is measured in financial terms, and is reflected in the accounts of the
firm: Financial Transaction
9. Are events that do not meet the narrow definition of a financial transaction-
: Nonfinancial Transaction
10. Is an activity composed of three major subsytems-the revenue cycle, the
expenditure cycle, and the conversion cycle.: Transaction Processing System
11. Is a system that produces traditional financial statements, such as income
statements, balance sheets, statements of cash flows, tax returns, and other
reports required by law.: General Ledger/ Financial Reporting System
12. Is a system that provides the internal financial information needed to
manage a business.: Management Reporting System
13. Is a type of reporting in which the organization has few or no choices in
the information it provides.: Nondiscretionary Reporting
14. Is a type of recording in which the organization can choose what informa-
tion to report and how to present it.: Discretionary Reporting
15. Is a model that describes all information systems, regardless of their
technological architecture: General Model for AIS
16. Are users for whom the system is built: End Users
17. Include creditors, stockholders, potential investors, regulatory agencies,
tax authorities, suppliers, and customers: External Users
18. Include management at all levels of the organization as well as operations
personnel.: Internal Users
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Information
System: An
Accountant's
Perspective
PROWRITERS2016
, Chapter 1 The Information System: An Accountant's Perspective
1. Are specialized subset of information systems that processes financial
transactions.: Accounting Information System
2. Are the flows of information intro and out of an organization.: Information
Flows
3. Is a category of external user, including customer sales and billing informa-
tion, purchase information for suppliers, and inventory receipts information.-
: Trading Partners
4. Are entities either inside or outside an organization that have a direct or
indirect interest in the firm.: Stakeholders
5. Is the set of formal procedures by which data are collected, processed into
information, and distributed to users.: Information System
6. Is a system that processes nonfinancial transactions not normally
processed by traditional accounting information systems.: Management Infor-
mation System
7. Is an event that affects or is of interest to the organization and is processed
by its information system as unit of work.: Transaction
8. Is an economic event that affects the assets and equities of the organiza-
tion, is measured in financial terms, and is reflected in the accounts of the
firm: Financial Transaction
9. Are events that do not meet the narrow definition of a financial transaction-
: Nonfinancial Transaction
10. Is an activity composed of three major subsytems-the revenue cycle, the
expenditure cycle, and the conversion cycle.: Transaction Processing System
11. Is a system that produces traditional financial statements, such as income
statements, balance sheets, statements of cash flows, tax returns, and other
reports required by law.: General Ledger/ Financial Reporting System
12. Is a system that provides the internal financial information needed to
manage a business.: Management Reporting System
13. Is a type of reporting in which the organization has few or no choices in
the information it provides.: Nondiscretionary Reporting
14. Is a type of recording in which the organization can choose what informa-
tion to report and how to present it.: Discretionary Reporting
15. Is a model that describes all information systems, regardless of their
technological architecture: General Model for AIS
16. Are users for whom the system is built: End Users
17. Include creditors, stockholders, potential investors, regulatory agencies,
tax authorities, suppliers, and customers: External Users
18. Include management at all levels of the organization as well as operations
personnel.: Internal Users
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