ACCT 3220 Ch.1 SmartBook Questions
What would be the most appropriate designation for a professional who serves as an IT auditor?
Certified Information Systems Auditor (CISA)
What would be an appropriate designation for a CPA with a broad range of technology knowledge and experience?
Certified Information Technology Professional (CITP)
Which software manages sales and market for current sales and customer service?
Customer Relationship Management Software
True or false: Supply chain is the term used to describe a firm's interactions with its current and potential clients.
False
True or false: Data that simply collects the characteristics of different transactions has great value to an organization.
False - Without context, data has little meaning and little value to an organization
The International Federation of Accountants suggests that accounting can hardly be viewed separately from which field?
Information Technology
Data analytics can be described as analyzing data with the purpose of deriving data-driven insights for decision making.
True
The higher quality data that comes out of an accounting information system, the greater value that can be derived from data analytics.
True
Data from orders, customers, sales, inventory and employees are accumulated in a centralized database to all system users is referred to as:
an enterprise system
Accountants gather information relevant in solving business problems, create or extract that information, and then Blank______ the information to solve the problem.
analyze
To be useful to decision makers, information from an AIS must be both relevant and
be a faithful representation
Which system contributes information on revenues to help assess profitability at a detailed customer, product, and company level to help evaluate whether business value was created?
customer relationship management system
Raw facts that describe the basic characteristics of an event would be defined as
data
Activity-based costing would be an example of ____
discretionary information
Managerial accounting information is generally produced for internal information purposes and would be considered to be
discretionary information
A(n) __________ , system serves as a central depository for information from orders, customers, sales, inventory, and employees.
enterprise, ERP, ES
External auditors accessing their client's accounting information system would be serving the accountant's role in an accounting information system of a(n) ____
evaluator
Neutrality, or information without bias, would be considered a component of __________, which are critical for providing useful accounting information.
faithful representation
Accounting information systems provide decision makers
financial and non-financial information
What is the name of the system that records and tracks interactions between a company and its employees?
human resource management system
Which system contributes information on direct labor and indirect labor to a cost accounting system?
human resource management system
What is a primary activity of the value chain?
inbound logistics
A monthly sales report produced by an information system would be an example of a(n)
output
Recorded transactions that are saved in the cloud would be an example of a(n) ____ activity in an information system
storage
What process refers to the flow of materials, information, payments and services from raw materials suppliers to the final customer?
supply chain
An accounting information system is defined as a system that records, processes and reports on business
transactions
When accountants input journal entries or calculate the cost of a product input, the accountants' role in an accounting information system is that of a ___
user
Which system measures and records accounting transactions to the general ledger and related journal entries from the general journal and special purpose journals and subledgers?
financial reporting system
Which system summarizes and communicates the results of the accounting transactions in financial reports, including financial statements, footnotes and related disclosures?
financial reporting system
A value chain illustrates both primary and ____ activities
support
