AIS Final Exam 2025 With 100%
Correct Answers
In which transaction cycle would information for retiring long-term debt be most likely to pass
between internal and external accounting information? - CORRECT ANSWER✔✔the financing
cycle
In which transaction cycle would information for inventory purchases be most likely to pass
between internal and external accounting information systems? - CORRECT ANSWER✔✔the
expenditure cycle
In which transaction cycle would information for paying dividends be most likely to pass
between internal and external accounting information systems? - CORRECT ANSWER✔✔the
financing cycle
What is a key decision that needs to be made with regards to selling merchandise? - CORRECT
ANSWER✔✔which credit cards to accept
An accounting information system requires at least one computer (T/F) - CORRECT
ANSWER✔✔False
Which of the following tradeoffs between characteristics of useful information is least
objectionable? - CORRECT ANSWER✔✔incomplete information received on a timely basis
Identify the party below that is not external to the firm.
CEO
Vendor
Government agencies
, Customer - CORRECT ANSWER✔✔CEO
The value of information can best be determined by - CORRECT ANSWER✔✔the benefits
associated with obtaining the information minus the cost of producing it
Identify the piece of information below that is typically needed to acquire inventory.
job descriptions
vendor performance
market coverage
capacity needs - CORRECT ANSWER✔✔capacity needs
In which transaction cycle would customer sales transaction information be most likely to pass
between internal and external accounting information systems? - CORRECT ANSWER✔✔the
revenue cycle
Data must be converted into information to be considered useful and meaningful for decision
making. There are 14 characteristics that make information both useful and meaningful. If
information is free from error or bias and fairly represents the events or activities of the
organization, it is representative of the characteristic of - CORRECT ANSWER✔✔accurate
identify the party below that is not internal to the firm
management
CEO
employees
customer - CORRECT ANSWER✔✔customer
a good example of how an AIS is used to share knowledge with an organization is - CORRECT
ANSWER✔✔the use of a corporate database to help staff identify the relevant experts who can
help with a particular client
Correct Answers
In which transaction cycle would information for retiring long-term debt be most likely to pass
between internal and external accounting information? - CORRECT ANSWER✔✔the financing
cycle
In which transaction cycle would information for inventory purchases be most likely to pass
between internal and external accounting information systems? - CORRECT ANSWER✔✔the
expenditure cycle
In which transaction cycle would information for paying dividends be most likely to pass
between internal and external accounting information systems? - CORRECT ANSWER✔✔the
financing cycle
What is a key decision that needs to be made with regards to selling merchandise? - CORRECT
ANSWER✔✔which credit cards to accept
An accounting information system requires at least one computer (T/F) - CORRECT
ANSWER✔✔False
Which of the following tradeoffs between characteristics of useful information is least
objectionable? - CORRECT ANSWER✔✔incomplete information received on a timely basis
Identify the party below that is not external to the firm.
CEO
Vendor
Government agencies
, Customer - CORRECT ANSWER✔✔CEO
The value of information can best be determined by - CORRECT ANSWER✔✔the benefits
associated with obtaining the information minus the cost of producing it
Identify the piece of information below that is typically needed to acquire inventory.
job descriptions
vendor performance
market coverage
capacity needs - CORRECT ANSWER✔✔capacity needs
In which transaction cycle would customer sales transaction information be most likely to pass
between internal and external accounting information systems? - CORRECT ANSWER✔✔the
revenue cycle
Data must be converted into information to be considered useful and meaningful for decision
making. There are 14 characteristics that make information both useful and meaningful. If
information is free from error or bias and fairly represents the events or activities of the
organization, it is representative of the characteristic of - CORRECT ANSWER✔✔accurate
identify the party below that is not internal to the firm
management
CEO
employees
customer - CORRECT ANSWER✔✔customer
a good example of how an AIS is used to share knowledge with an organization is - CORRECT
ANSWER✔✔the use of a corporate database to help staff identify the relevant experts who can
help with a particular client
