AC-340 Practice Questions

Which of the following is included in Accountants' Stewardship and Reporting role? - Statutory Reporting - Risk Assessment - Providing Management Information - Investor Relations - Managing accounting staff

- Statutory Reporting - Investor Relations

Regardless of notation, workflow or activity models need to be able to describe:

1. Events that start, change, or stop flow in the process 2. Activities and tasks within the process 3. The sequence of flow between tasks 4. Decision points that affect the flow 5. Division of activity depending on organizational data

To be valuable business partners, accountants must understand financial reporting and additionally the must understand:

1. How the accounting system summarizes business process information 2. Risks that the business faces 3. How the accounting system collects business process information

To be useful to decision makers, information from an AIS must be both:

1. Reliable 2. Relevant

An activity model describes the sequence of workflow in:

A business process

In BPMN, the organization is identified by:

A pool

Specific steps in the business process are called:

Activities

__________ models are tools used for planning, documenting, discussing, and implementing systems

Activity

Accountants gather information relevant in solving business problems, create or extract that information, and then _________ the information to solve the problem

Analyze

Discretionary information should only be produced if the costs:

Are less than the benefits of using that information

In BPMN, sequence flows are modeled using __________

Arrows

What would be an appropriate designation for a CPA with a broad range of technology knowledge and experience?

Certified Information Technology Professional (CITP)

An event is represented by a ___________

Circle

What software manages sales and market for current sales and customer service?

Customer Relationship Management Software (CRM)

In BPMN the two elements used to model __________ are the data object and the datastore

Data

Raw facts that describe the basic characteristics of an event would be defined as:

Data

Gateways show process branching and merging as a result of __________

Decisions

As business analysts and information providers, accountants understand what data is needed to solve a problem and are, thus, in a unique position to serve as a __________ of AIS

Designer

Accounting Information Systems include

Either manual or computerized systems

A(n) __________ system is a centralized database that collects data throughout the firm

Enterprise

External auditors accessing their client's AIS would be serving the accountant's role in an AIS of a(n):

Evaluator

When auditors assess the internal controls in an AIS as part of the Sarbanes-Oxley Act, they are serving in their roles as a(n) __________ of the system

Evaluator

True or False: To produce data, information is often processes and then combined with the appropriate context.

False

Accounting information systems provide decision makers

Financial and nonfinancial information

A subprocess can be used when __________ levels of abstraction are appropriate

Higher

Considering the common gateway types, one or more tokens can process from a/an __________ gateway

Inclusive

Sales recorded in a cash register would be an example of a(n) __________ activity in an information system

Input

In a business process diagram, models are normally presented:

Left to right

Performance __________ is an accounting function in the Business Management Support role

Management

Information produced for investors, banks, the SEC and the IRS would be considered:

Mandatory information

Considering the common gateway types, tokens will exit on all paths from a/an __________ branching gateway

Parallel

In BPMN, a sequence flow indicates the __________ of activity in a business process

Progression

Information which helps users predict what will happen in the future would be an attribute of:

Relevant information

Information that is not designed to lead users to accept or reject any specific decision would be an attribute of:

Reliable information

Deployment flowcharts show the sequence of steps in a process and organizational ___________ for each step

Responsibility

End message events can __________ messages when the process ends

Send

Modelers do not need to use tasks with titles like send work or receive work, since the __________ flow implies that the work is forwarded or received

Sequence

A(n) __________ message is used to begin a process based on an incoming message

Start

An expanded __________ embeds the subprocess, with the contents of the subprocess visible, in the current process

Subprocess

Collapsed __________ contain multiple tasks that are hidden from view

Subprocess

What process refers to the flow of materials, information, payments, and services from raw materials suppliers to the final customer?

Supply Chain

Start __________ events begin processes at prescribed times

Timer

What is the IT strategic role that fundamentally redefines business process and relationships through the use of technology?

Transform

When a product passes through value-enhancing activities, the process is called the:

Value Chain

In the information value chain presented in the book, what precedes the collection of data? a. Business Event b. Information

a. Business Event

In BPMN, which of the following symbols represent gateways: a. Diamonds b. Circles c. Dashed arrow d. Rectangles

a. Diamonds

Activity-based costing would be an example of: a. Discretionary information b. Mandatory information c. Audited information

a. Discretionary information

What is a primary activity of the value chain? a. Inbound Logistics b. Information Technology c. Firm Infrastructure

a. Inbound Logistics

An attribute of relevant information is: the information provides: a. Predictive Value b. Neutrality c. Representational Faithfulness

a. Predictive Value

What is a supporting activity of the value chain? a. Technology b. Inbound logistics c. Service d. Outbound logistics

a. Technology

Each process must show a sequential flow from a START even continuously through process activities to which of the following? a. Intermediate ERROR event b. End event c. Intermediate TIMER event d. Parallel Gateway

b. End event

Which information system is most likely to impact the total cost of goods sold line item? a. Customer Relationship Management software b. Supply chain management software

b. Supply chain management software

An attribute of relevant information is: a. Helpfulness b. Timeliness c. Verifiability

c. Verifiability

Which of the following allows the modeler to focus on the message flows between pools? a. Include a start event in each pool b. Use gateways to direct flow c. Draw message flows as dashed arrows d. Make the external pool opaque

d. Make the external pool opaque