Accounting

Which of the following symbols depicts an activity? Multiple Choice An arrow. A circle with a double line perimeter. A rectangle. A circle with a wide single line perimeter.

A rectangle

Which of the following best describes a business model? Multiple Choice A simple, abstract representation of a business process or processes. A sequence of business activities. An evaluation of potential business process improvements. None of the options are correct.

A simple, abstract representation of a business process or processes.

Customer Relationship Management is defined as: Multiple Choice A system used to manage and nurture a firm's interactions with its current and potential customers. A system used to track a customer's past purchases. A system used to connect a firm's suppliers with a firm's customers. A system used to advertise current items on sale to customers.

A system used to manage and nurture a firm's interactions with its current and potential customers.

Which of the following is not a Business Management Support role of the Accounting/Finance Function in Business? Multiple Choice Management information. Planning, budgeting and forecasting. Financial consolidation, reporting and analysis. Investment appraisal.

Financial consolidation, reporting and analysis

Which of the following best describes the purpose of a primary key? Multiple Choice Allows linking two or more tables. Indicates the minimum multiplicities for an association. Matches values of foreign keys in other classes. Uniquely identifies each instance of the class.

Uniquely identifies each instance of the class.

Which of the following is not part of the business analysis process? Multiple Choice Ascertaining information about current and future business processes. Using business process modeling tools. Using IT to make finance and accounting processes more efficient and effective

Using IT to make finance and accounting processes more efficient and effective.

Which of following are possible options for minimum multiplicities? Multiple Choice 0 and 1. 0 and *. * and 1. 0, 1, and *.

0 and 1.

Which of the following symbols depicts an intermediate event? Multiple Choice An arrow. A circle with a double line perimeter. A rectangle. A circle with a wide single line perimeter.

A circle with a double line perimeter.

Which of the following statements about foreign keys is not true? Multiple Choice A foreign key can be a combination of attributes. A foreign key cannot be NULL. Foreign key must match values of the linked primary key. Foreign keys support a defined association.

A foreign key cannot be NULL.

Support activities in the value chain do not include: Multiple Choice Firm Infrastructure. Human Resource Management. Procurement. Accounting and Finance.

Accounting and Finance.

Which of the following best describes the purpose of an event in a Business Process Modeling Notation (BPMN) activity diagram? Multiple Choice Shows where the work takes place. Describes the sequence of workflow. Affects the flow of the business process. Controls branching and merging.

Affects the flow of the business process

Which of the following is a well-formed business rule? Multiple Choice Customers must be over 18 years of age. Customers may not be under 18 years of age. Customers must pay in U. S. dollars. All of these are well-formed business rules.

All of these are well-formed business rules.

Which of the following best describes how business models help companies manage complexity? Multiple Choice Because business models can't exceed one page, managers can understand how the business works at a glance. Although business models are a simplification of the actual processes they represent, they incorporate the processes' essential elements. Business models' limitations force managers to simplify the company's actual processes. Business models must display every detailed task and activity, which allows managers to visualize the complexity inherent in its business processes.

Although business models are a simplification of the actual processes they represent, they incorporate the processes' essential elements.

Which of the following best describes the purpose of an activity model? Multiple Choice An activity model describes the sequence of workflow in a business process. An activity model constrains and guides process operations. An activity model depicts data structures. None of the options are correct.

An activity model describes the sequence of workflow in a business process.

A pool in a BPMN activity model represents: Multiple Choice An entire organization/entity. A department or functional area. A specific individual. A logical activity.

An entire organization/entity.

Entity-relationship diagrams (ERDs) are similar in content and purpose to Unified Modeling Language (UML) Class diagrams. Which of the following is not a basic building block of ERDs? Multiple Choice Relationships Associations Attributes Entities

Associations

Which of the following is not a building block for Business Process Modeling Notation (BPMN) diagrams? Multiple Choice Associations. Events. Gateways. Sequence flows.

Associations

The IT strategic roles of AIS investments are classified as: Multiple Choice Automate, Informate, Transform. Value creation, Value Destruction, Value Neutral. Digitize, Report, Transform. Automate, Digitize, Transport.

Automate, Informate, Transform.

Many hospitals and doctor's offices are beginning to digitize the medical records of their patients. This is an example of the ____________ strategic role. Multiple Choice Automate. Informate - up. Transform. Informate - down.

Automate.

Which of the following is a difference between Business Process Modeling Notation (BPMN) activity diagrams and flowcharts? Multiple Choice BPMN symbols can show a variety of intermediate events that affect the sequence flow. Flowcharts have symbols to represent the start and end of a process. BPMN diagrams show the sequence flow of activities. Flowcharts can be annotated with text.

BPMN symbols can show a variety of intermediate events that affect the sequence flow.

Which of the following systems would a company be most likely to employ for the primary purpose of generating additional sales revenue? Multiple Choice MDBMS. CRM. SCM. OCR.

CRM.

Which designation would be most appropriate for those professionals possessing IT audit, control and security skills? Multiple Choice Certified Internal Auditor (CIA). Certified Public Accountant (CPA). Certified Information Technology Professional (CITP). Certified Information Systems Auditors (CISA).

Certified Information Systems Auditors (CISA).

Which designation is for CPAs with a broad range of technology knowledge and experience? Multiple Choice Certified Internal Auditor (CIA). Certified Public Accountant (CPA). Certified Information Technology Professional (CITP). Certified Information Systems Auditors (CISA).

Certified Information Technology Professional (CITP).

Which of the following is not a form of business rules? Multiple Choice Compulsory. Obligatory. Prohibited. Allowed.

Compulsory.

Which of the following best describes the purpose of a gateway in a Business Process Modeling Notation (BPMN) activity diagram? Multiple Choice Shows where the work takes place. Describes the sequence of workflow. Affects the flow of the business process. Controls branching and merging.

Controls branching and merging.

The income statement line item most likely affected by an AIS investment in supply chain that would interface with suppliers would be: Multiple Choice Revenues. Cost of Goods Sold. Selling, General and Administrative Expenses. Research and Development Expenses.

Cost of Goods Sold.

Consider an association between a Sales class and an Inventory class in a Unified Modeling Language (UML) Class diagram. The multiplicities next to the Sales class are 0..* and the multiplicities next to the Inventory class are 1..*. Which of the following is the best way to implement that association in your database? Multiple Choice Post the primary key of Sales as a foreign key in Inventory. Post the primary key of Inventory as a foreign key in Sales. Create a linking table. None of the options are correct.

Create a linking table.

Consider an association indicating professional licensing status between an Accountant class and a States class in a Unified Modeling Language (UML) Class diagram. The multiplicities next to the Accountants class are 0..* and the multiplicities next to the States class are 0..*. Which of the following is the best way to implement that association in your database? Multiple Choice Post the primary key of Accountants as a foreign key in States. Post the primary key of States as a foreign key in Accountants. Create a linking table. None of the options are correct.

Create a linking table.

One of the most important ways that ERPs benefit organizations and their business processes is: Multiple Choice Current information is made available to all users involved in the activities and decisions associated with a company's business processes. Information is stored in many specialized, distributed databases that each serve separate business processes. Reducing the amount of time to complete business processes by eliminating all controls associated with the processes. Preventing external business partners from accessing the organization's data.

Current information is made available to all users involved in the activities and decisions associated with a company's business processes.

Which of the following best describes the purpose of swimlanes (or lanes)? Multiple Choice Depict different organizations involved in a process. Depict different departments of the same organization in a process. Depict interactions between organizations in a process. Depict the sequence of tasks in a process.

Depict different departments of the same organization in a process.

Which of the following is not a purpose of documentation? Multiple Choice Training. Determining staffing. Describing current processes. Establishing accountability.

Determining staffing

When creating a BPMN activity model, which of the following is most accurate? Multiple Choice Modeling is an artistic endeavor; therefore different modelers given the same set of facts about a business process will likely develop very different models of the process. The resulting BPMN activity model should closely match the structure of the subsequent database. All activity models should include gateways. Different modelers given the same set of facts about a business process should develop similar models of the process.

Different modelers given the same set of facts about a business process should develop similar models of the process.

Activity-based costing is an example of: Multiple Choice Information overload. Mandatory information. Discretionary information. Enterprise System.

Discretionary information.

Which of the following is not a characteristic of useful information? Multiple Choice Easy to understand. Feedback value. Timeliness. Representational Faithfulness.

Easy to understand.

Business models provide value in all of the following areas except which one? Multiple Choice Employee performance appraisal. Managing complexity. Specifying systems requirements. Eliciting requirements for new systems.

Employee performance appraisal

An example of an AIS that primarily addresses internal business processes includes: Multiple Choice Supply chain software. Customer relationship management software. B2B transaction software. Enterprise systems.

Enterprise systems.

The Sarbanes-Oxley Act of 2002 requires that a company's attest auditors be able to perform which of the following activities? Multiple Choice Evaluate the internal controls in an AIS. Assess the value of a company's IT assets. Take over the company's AIS if necessary. Design and implement the controls used in the AIS.

Evaluate the internal controls in an AIS.

Which of the following is not one of the building blocks used for creating UML Class Diagrams? Multiple Choice Classes. Events. Associations. None of the other options are used in UML Class Diagrams.

Events.

Process documentation does not include which of the following? Multiple Choice Process models. Business rules. User manuals. External audit workpapers.

External audit workpapers

Which of the following are considered to be mandatory information required by a regulatory body? Multiple Choice Financial reports for the Securities and Exchange Commission. The amount of taxes saved by a merger. The total dollar value of fireworks that are sold on July 4.

Financial reports for the Securities and Exchange Commission.

0.42 points Return to questionItem 12Item 12 0.42 points According to a recent study, the transform IT strategic role is defined as systems that: Multiple Choice Replace human labor in automating business processes. Provide information about business activities to all employees. Provide information about business activities to senior management. Fundamentally redefine business processes and relationships.

Fundamentally redefine business processes and relationships.

In order to perform their required roles and be valuable business partners, accountants must understand all of the following except: Multiple Choice How the business identifies and designs its products and services. How the business collects data, summarizes it, and communicates business information. How the business delivers value, interacts with other businesses, and is a good corporate citizen. What risks the business faces, and how internal controls can mitigate those risks.

How the business identifies and designs its products and services.

Which of the following is not a Stewardship and Reporting role of the Accounting/Finance Function in Business? Multiple Choice Human Resource management. Regulatory compliance. Tax returns. Statutory reporting.

Human Resource Management

The correct order of effects in the value chain are: Multiple Choice Inbound Logistics → Operations → Service. Inbound Logistics → Outbound Logistics → Marketing & Sales. Inbound Logistics → Operations → Outbound Logistics. Inbound Logistics → Operations → Shipping.

Inbound Logistics → Operations → Outbound Logistics.

Accounting information systems: Are always computerized. Report only accounting information. Include records, processes and reports. Are for computer games.

Include records, processes and reports.

A dental practice implemented an upgrade to its AIS that provides the dentists with daily and weekly patient and financial summaries. The practice's upgrade is an example of which IT strategic role? Multiple Choice Automate. Informate - up. Transform. Informate - down.

Informate - up.

Which of the following is not a primary activity in the Value Chain? Multiple Choice Outbound Logistics. Marketing. Inbound Logistics. Information Technology.

Information Technology.

Bob's manager complains that Bob suffers from "Analysis Paralysis;" that is, he spends too much time reviewing endless reports and is reluctant to make decisions. Bob most likely suffers from ____________. Multiple Choice Data gridlock. Discretionary information. Information overload. Data redundancy.

Information overload.

A boundary event in a BPMN activity model: Multiple Choice Takes place at the edge of a swimlane. Occurs at the border of a pool. Is attached to the edge of an activity. Occurs as a message leaves a pool.

Is attached to the edge of an activity.

Which of the following most accurately describes IFAC's description of accounting and IT? Multiple Choice IT is an important peripheral discipline to accounting. Accounting and IT are indistinguishable from one another. It is difficult to conceive of accounting independent from IT.

It is difficult to conceive of accounting independent from IT.

Business Value is defined as: Multiple Choice The monetary value of a business. Items, events and interactions that determine the financial health and well-being of the firm. The cost to acquire a business by an outsider. The overall value of taking data and transforming it in to information needed for decision making.

Items, events and interactions that determine the financial health and well-being of the firm.

Consider the non-profit organization Doctors without Borders (Médecins Sans Frontières), a Nobel Peace Prize winning organization that provides medical services in war zones and developing countries. For this type of organization, which of the following would likely be the best measure of business value? Multiple Choice Fund balance (i.e., the net of revenues less expenditures). Lives saved. Donations raised. Volunteers deployed.

Lives Saved

Which of the following is not a criterion for selection of a primary key? Multiple Choice The primary key cannot be NULL (blank). The primary key should be controlled by the organization assigning it. Primary keys with sequential values make it easier to spot gaps in the data. Longer key values are better than shorter key values.

Longer key values are better than shorter key values.

Discretionary information is most likely to be used in which of the following activities? Multiple Choice Preparing required Environmental Protection Agency emissions reports. Filing a 10-K with the SEC. Management decision-making. Payroll tax reporting.

Management decision-making.

Which of the following is not a step in using a Unified Modeling Language (UML) Class model to prepare a database? Multiple Choice Map Classes to Tables. Map Attributes to Table Fields. Map Associations to Primary Keys. Map Associations to Foreign Keys.

Map Associations to Primary Keys.

Which of the following is usually the primary objective for companies when creating mandatory information? Multiple Choice The value of the information exceeds the cost to produce it. Minimize cost. Improve business decisions. Ensure proper controls over business processes.

Minimize Cost

Which of the following is not a best practice in preparing Unified Modeling Language (UML) Class diagrams? Multiple Choice Opt for simplicity. Model each process separately. Avoid crossing lines whenever possible. Avoid confusing abbreviations.

Model each process separately.

Which of the following is not a common element of activity models regardless of the specific modeling notation? Multiple Choice Events to start and stop the workflow. Sequence of flow between tasks. Multiplicities. Decision points that affect the process flow.

Multiplicities

The role of accountants in accounting information systems include all except: Multiple Choice User. Manager. Operator. Evaluator.

Operator.

Message flows in BPMN activity diagrams indicate an exchange between: Multiple Choice Activities in the same swimlane. Participants in different pools. Gateways in different swimlanes. Events in the same pool.

Participants in different pools.

Which of the following symbols is used to depict different organizations in one Business Process Modeling Notation (BPMN) diagram? Multiple Choice Gateway. Message flow. Pool. Intermediate event.

Pool

Consider an association between a Cash Disbursements class and a Cash Accounts class in a Unified Modeling Language (UML) Class diagram. The multiplicities next to the Cash Disbursements class are 0..* and the multiplicities next to the Cash Accounts class are 1..1. Which of the following is the best way to implement that association in your database? Multiple Choice Post the primary key of Cash Disbursements as a foreign key in Cash Accounts. Post the primary key of Cash Accounts as a foreign key in Cash Disbursements. Create a linking table. None of the options are correct.

Post the primary key of Cash Accounts as a foreign key in Cash Disbursements.

Consider an association between a Cities class and a Neighborhoods class in a Unified Modeling Language (UML) Class diagram. The multiplicities next to the Cities class are 1..1 and the multiplicities next to the Neighborhoods class are 1..*. Which of the following is the best way to implement that association in your database? Multiple Choice Post the primary key of Cities as a foreign key in Neighborhoods. Post the primary key of Neighborhoods as a foreign key in Cities. Create a linking table. None of the options are correct.

Post the primary key of Cities as a foreign key in Neighborhoods.

Consider an association between a Customers class and a Sale class in a Unified Modeling Language (UML) Class diagram. The multiplicities next to the Customers class are 1..1 and the multiplicities next to the Sale class are 0..*. Which of the following is the best way to implement that association in your database? Multiple Choice Post the primary key of Customers as a foreign key in Sales. Post the primary key of Sales as a foreign key in Customers. Create a linking table. None of the options are correct.

Post the primary key of Customers as a foreign key in Sales.

Consider an association between a Pet Owners class and a Pets class in a Unified Modeling Language (UML) Class diagram. The multiplicities next to the Pet Owners class are 1..1 and the multiplicities next to the Pets class are 1..*. Which of the following is the best way to implement that association in your database? Multiple Choice Post the primary key of Pet Owners as a foreign key in Pets. Post the primary key of Pets as a foreign key in Pet Owners. Create a linking table. None of the options are correct.

Post the primary key of Pet Owners as a foreign key in Pets.

Consider an association between a Deliveries class and a Shipping Companies class in a Unified Modeling Language (UML) Class diagram. The multiplicities next to the Deliveries class are 0..* and the multiplicities next to the Shipping Companies class are 1..1. Which of the following is the best way to implement that association in your database? Multiple Choice Post the primary key of Deliveries as a foreign key in Shipping Companies. Post the primary key of Shipping Companies as a foreign key in Deliveries. Create a linking table. None of the options are correct.

Post the primary key of Shipping Companies as a foreign key in Deliveries.

Consider an association between a Cash Disbursements class and a Vendors class in a Unified Modeling Language (UML) Class diagram. The multiplicities next to the Cash Disbursements class are 0..* and the multiplicities next to the Vendors class are 1..1. Which of the following is the best way to implement that association in your database? Multiple Choice Post the primary key of Cash Disbursements as a foreign key in Vendors. Post the primary key of Vendors as a foreign key in Cash Disbursements. Create a linking table. None of the options are correct.

Post the primary key of Vendors as a foreign key in Cash Disbursements

The primary transformation of data into information takes place in which of the following activities? Multiple Choice Input. Storage. Processing. Output.

Processing.

A supply chain system does not include information about: Multiple Choice Current customers. Prospective customers. Availability of inventory. Current suppliers.

Prospective customers.

According to a recent study, the informate-up IT strategic role is defined as systems that: Multiple Choice Replace human labor in automating business processes. Provide information about business activities to all employees. Provide information about business activities to senior management. Fundamentally redefine business processes and relationships.

Provide information about business activities to senior management.

Effective use of Supply Chain Management software is generally expected to provide all of the following benefits except: Multiple Choice Reduced inventory carrying costs. Lower production costs. Reduced gross margins. Better communications with suppliers.

Reduced gross margins.

A supply chain: Multiple Choice Refers to the supplies needed to build products. Refers to the flow of materials, information, payments and services. Is similar in function and purpose to the value chain. Does not apply to a service firm like an accounting firm.

Refers to the flow of materials, information, payments and services

A simple information system includes all but the following elements except: Multiple Choice Processing. Storage. Input. Reporting.

Reporting.

The income statement account most likely affected by an AIS investment in customer relationship management (CRM) would be: Multiple Choice Revenues. Cost of Goods Sold. Selling, General and Administrative Expenses. Unearned Revenue.

Revenues.

Which of the following best describes why the Sarbanes-Oxley Act of 2002 (SOX) made documentation of business processes essential for businesses? Multiple Choice SOX mandates that accountants create the business rules and documentation associated with a company's business processes. SOX requires managers to assess and attest to the company's internal controls structures and procedures. SOX explicitly states that business processes must be documented. SOX allows thorough documentation of business processes to act as a substitute for a full review of internal control structures and procedures.

SOX requires managers to assess and attest to the company's internal controls structures and procedures.

The income statement line item most likely affected by an AIS investment in enterprise systems would be: Multiple Choice Revenues. Cost of Goods Sold. Selling, General and Administrative Expenses. Unearned Revenue.

Selling, General and Administrative Expenses.

Which of the following is not a valid BPMN gateway type? Multiple Choice Parallel gateway. Serial gateway. Inclusive gateway. Exclusive gateway.

Serial gateway.

Which of the following best describes a Business Process Modeling Notation (BPMN) message flow? Multiple Choice Shows the sequence of activities in a process. Shows interactions between participants in a process. Affects the flow of a business process. Shows branching and merging in a business process.

Shows interactions between participants in a process.

Which of the following is not an Accounting/Finance Operations role of the Accounting/Finance Function in Business? Multiple Choice Financial close - completing period end accounts. Stakeholder assurance. People management. Financial consolidation, reporting and analysis.

Stakeholder Assurance

Associations in UML Class Diagrams should include a description in which of the following situations? Multiple Choice Associations should always include descriptions. The decision criterion(a) affecting the process flow direction is not clear. The attributes of the related class are not clear. The business purpose of the association is not clear.

The business purpose of the association is not clear.

When connecting to an opaque external pool in a BPMN activity diagram, message flows connect to: Multiple Choice The edge of the opaque pool. The edge of the swimlane. The nearest sequence flow. The appropriate data store.

The edge of the opaque pool.

Logical database structure models, including UML Class Diagrams, must be able to describe which of the following? Multiple Choice The entities in the domain of interest. The activities performed in the business process. The operations performed on the database. The Bachman diagram.

The entities in the domain of interest.

Which of the following best describes the difference between a Business Process Modeling Notation (BPMN) gateway and a flowcharting decision diamond? rev: 02_01_2018_QC_CS-116426 Multiple Choice Only the decision diamond shows branching of the sequence flow. The gateway only represents branching and not the decision that results in branching. Only the gateway shows branching of the sequence flow. The decision diamond can depict more branching options.

The gateway only represents branching and not the decision that results in branching.

Activity models are analogous to which of the following? Multiple Choice The prototype for a new car model. A blueprint. The instructions in a recipe. Correct A car's steering system.

The instructions in a recipe.

Which of the following would be least likely to be represented with a Unified Modeling Language (UML) Class? Multiple Choice Trucks. The number of trucks used in the delivery. The employee driving the truck. The customer receiving the delivery.

The number of trucks used in the delivery.

The Information Value Chain is defined as: Multiple Choice The flow of materials, information, payments, and services. The use of computer technology to provide information about business activities to employees across the firm. The overall transformation of data from a business need to the ultimate decision. A centralized database that collects data from throughout the firm.

The overall transformation of data from a business need to the ultimate decision.

One common way of measuring the effectiveness of the Supply Chain is through the fill rate. Which of the following best describes the fill rate? Multiple Choice The percentage, in monetary value, of a supplier's order which is actually delivered to the organization. The number of items per hour that receiving employees can move from the receiving dock to the warehouse. The rate at which the stock in warehouse storage bins increases. The average amount of time it takes for the organization to fulfill customers' orders.

The percentage, in monetary value, of a supplier's order which is actually delivered to the organization.

Which of the following is the best description of an association? Multiple Choice A group of classes. The lines in a UML Class diagram. The relationship between two classes. The number of times one class is related to another.

The relationship between two classes.

Which of the following is not something a model of database structures must be able to describe? Multiple Choice The entities or things in the domain of interest. The sequence that entities are accessed. The cardinalities that describe how many instances of one entity can be related to another. The attributes or characteristics of the entities and relationships.

The sequence that entities are accessed.

Investors reward companies most that announce IT initiatives with which type of strategic role? Multiple Choice Automate. Informate - up. Transform. Informate - down.

Transform

EBay uses information technology to sell goods on the internet. This would be an example of the ___________ strategic role. Multiple Choice Automate. Informate - up. Transform. Informate - down.

Transform.