Acct 3303

In the information value chain presented in the book, what precedes the collection of data? Business event Information

Business event

Which of the following symbols represent events in BPMN? Rectangles Dashed arrow Circles Diamonds

Circles

Which software manages sales and market for current sales and customer service? Customer Relationship Management Software Customer Revenue Management Software Customer Service Relationship Software

Customer Relationship Management Software

Which software manages sales and market for current sales and customer service? Customer Revenue Management Software Customer Service Relationship Software Customer Relationship Management Software

Customer Relationship Management Software

Which software manages sales and market for current sales and customer service? Customer Service Relationship Software Customer Revenue Management Software Customer Relationship Management Software

Customer Relationship Management Software

Each process must show a sequential flow from a START event continuously through process activities to which of the follow? Intermediate ERROR event Intermediate TIMER event End event Parallel Gateway

End event

Branching gateways reflect decisions. True False

False

What is a primary activity of the value chain? Information Technology Firm Infrastructure Inbound logistics

Inbound logistics

Which of the following is true about sequence flows? Sequence flows become message flows when they span pools. Sequence flows must start and end within one pool. Sequence flows do not span multiple pools. Sequence flows cannot cross lane boundaries.

Sequence flows do not span multiple pools.

Which of the following is true with respect to branching gateways? They end the process if the question is not true. They make a decision and direct flow. They direct flow based on the answer to a question. They combine multiple flows into one based on the answer to a question.

They direct flow based on the answer to a question.

task names should begin with a verb. True False

True

An activity model describes the sequence of workflow in a relational database. a business process. external events. business communication.

a business process.

Depending on the diagram's level of detail, _____ represent processes, subprocesses or tasks. gateways annotations events activities

activities

Workflow models must describe all of the following except division of activity. activities outside of the process. activities within the process. decision points that affect flow.

activities outside of the process.

Sequence flow is represented by an _____

arrow

Similar to sequence flows in BPMN, message flows are modeled as arrows, but message flows are ____ arrows.

dashed

Gateways show process branching and merging as the result of _____. annotations activities decisions events

decisions

In BPMN, gateways are represented by a: diamond arrow rectangle circle

diamond

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

flow

A circle with a double-line perimeter represents an _______ event.

intermediate

In BPMN, organizations are modeled as pools and departments within organizations are modeled _____ as within a pool.

lanes

BPMN models should describe the ____ of a business process unambiguously.

logic

In BPMN, gateways show branching and _____ as the result of decisions.

merging

A token travels along sequence flows but does not traverse _____ flows.

message

In BPMN, the interaction between two pools is modeled as a ____ flow.

message

Events include all of the following except end. start. intermediate. middle.

middle.

The organization that maintains the specification for BPMN (business process modeling notation) is the _____ Management Group (OMG).

object

An external pool can be _____ in order to focus on message flows between the pools.

opaque

In BPMN, activities represent specific _____ in the business process.

steps

Recorded transactions that are saved in the cloud would be an example of a(n) ____________ activity in an information system. storage input output processing

storage

Business models create value in all of the following ways except: reconciling viewpoints managing compliance supporting processes managing complexity specifying requirements

supporting processes

When a product passes through value-enhancing activities, the process is called the _______________. supply chain value process value chain

value chain

Documentation explains how business processes and business systems

work

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

Activity

What would be the most appropriate designation for a professional who serves as an IT auditor? Certified Information Systems Auditor (CISA) Certified Internal Auditor (CIA) Certified Information Technology Professional (CITP)

Certified Information Systems Auditor (CISA)

What would be the most appropriate designation for a professional who serves as an IT auditor? Certified Information Technology Professional (CITP) Certified Internal Auditor (CIA) Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA)

What would be an appropriate designation for a CPA with a broad range of technology knowledge and experience? Certified Internal Auditor (CIA) Certified Information Technology Professional (CITP) Certified Information Systems Auditor (CISA) Certified Public Accountant (CPA)

Certified Information Technology Professional (CITP)

_____ manages the interaction between the company and its customer, from initial lead to customer service after the sale. Customer Relationship Management Software Customer Service Relationship Software Customer Revenue Management Software

Customer Relationship Management Software

In the information value chain presented in the book, what precedes the receipt of information? Data Knowledge

Data

A business process is a ______ sequence of activities that uses resources to transform specific inputs into outputs to achieve a business goal.

Defined

Which system can significantly lower the cost of support processes included in sales, general and administrative expenses (SG&A)? Customer Relationship Management System Enterprise System

Enterprise System

True or false: Data that simply collects the characteristics of different transactions has great value to an organization. True False

False

True or false: Management is required to produce discretionary information due to regulatory requirements. True False

False

True or false: Management must maintain evidential matter, including documentation, to provide reasonable support that it has established adequate internal control structures and procedures. True False

False

True or false: Raising capital is an activity in the Accounting/Finance Operations role of accountants. True False

False

True or false: Rapid changes in the global marketplace that affect the accounting profession have resulted in a focus on accountings' stewardship and reporting functions. True False

False

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

False

True or false: Too much information is not possible. True False

False

_____ would generally be considered the first primary activity in the value chain. Services Inbound logistics Operations Marketing

Inbound logistics

What is the IT strategic role that uses technology to provide information about business activities to senior management or to employees across the firm? Informate Transform Automate

Informate

The International Federation of Accountants suggests that accounting can hardly be viewed separately from which field? Information Technology Marketing Firm Management

Information Technology

______ is the difficulty a person faces in understanding a problem and making a decision when faced with too much information. Information overload Information deficit Information avalanche

Information overload

What is a primary activity of the value chain? Firm Infrastructure Outbound logistics Accounting

Outbound logistics

What is a primary activity of the value chain? Outbound logistics Firm Infrastructure Accounting

Outbound logistics

Which of the following is NOT a skill area in the IMA Management Accounting Competency Framework? Strategic management Leadership People skills Reporting and control Technology and analytics

People skills

Which of the following is a business management support of the accounting/finance function? Processing payroll Financial consolidation and reporting People management Performance measurement, reporting and analysis Tax return preparation

Performance measurement, reporting and analysis

Which of the following is a business management support of the accounting/finance function? Processing payroll People management Tax return preparation Performance measurement, reporting and analysis Financial consolidation and reporting

Performance measurement, reporting and analysis

Which of the following is a business management support of the accounting/finance function? Tax return preparation People management Financial consolidation and reporting Performance measurement, reporting and analysis Processing payroll

Performance measurement, reporting and analysis

What is a supporting activity of the value chain? Inbound Logistics Procurement Marketing Operations

Procurement

What is a supporting activity of the value chain? Marketing Operations Inbound Logistics Procurement

Procurement

Which of the following is a stewardship and reporting role for the accounting/finance function? Cost management Planning and budgeting Regulatory compliance Investment appraisal Financial consolidation and reporting

Regulatory compliance

Which of the following is a stewardship and reporting role for the accounting/finance function? Planning and budgeting Financial consolidation and reporting Investment appraisal Cost management Regulatory compliance

Regulatory compliance

Which of the following is not one of the sets of skills in the CGMA Competency Framework? People skills Business skills Technical skills Leadership skills Reporting and control

Reporting and control

Which of the following is included in Accountants' Stewardship and Reporting role? (Check all that apply). Risk Assessment Statutory Reporting Investor Relations Managing accounting staff Providing Management Information

Statutory Reporting Investor Relations

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

Supply chain

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

Supply chain management software

What is a support activity of the value chain? Outbound logistics Service Technology Inbound logistics

Technology

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

Transform

True or false: A business model is an abstract, simplified, representation of business processes. True False

True

True or false: Activity models show the sequence of workflow tasks in a business process. True False

True

True or false: Although rapid changes in technology increase the amount of information available, the information must support the information requirements of the business decision makers to be fully effective. True False

True

True or false: The type and extent of documentation depends on the nature of the business's products and processes as well as the nature of the organization. True False

True

An activity model describes the sequence of workflow in external events. a relational database. business communication. a business process.

a business process.

The accounting/finance operations role includes financial close - completing period-end _____

accounts

The accounting/finance operations role includes financial close - completing period-end ______

accounts

Business _____ is the process of defining business process requirements and evaluating potential improvements.

analysis

Accountants gather information relevant in solving business problems, create or extract that information, and then ______ the information to solve the problem. analyze manipulate present

analyze

Discretionary information should only be produced if the costs _________________________. are less than the benefits of using that information outweigh the benefits of using that information of data collection are minimal

are less than the benefits of using that information

To be useful to decision makers, information from an AIS must be both relevant and __________. be a faithful representation exhibit high quality reliable

be a faithful representation

To be useful to decision makers, information from an AIS must be both relevant and __________. reliable exhibit high quality be a faithful representation

be a faithful representation

The roles of the accounting/finance function include stewardship and reporting, accounting operation, and ________ management support.

business

A graphical representation presents information more _____ than a written description.

concisely

An attribute of relevant information is: the information is _________. confirmatory verifiable neutral

confirmatory

Raw facts that describe the basic characteristics of an event would be defined as _________. data decision information

data

Raw facts that describe the basic characteristics of an event would be defined as _________. decision data information

data

Technology does not necessarily result in better decisions, because the information produced may not support the information requirements of the business's ________ makers.

decision

Accountants serving in a _______ capacity must have significant practical exposure to the key phases of systems analysis and design, including preparation of the feasibility analysis and data file design and documentation. manager user designer

designer

Activity-based costing would be an example of ____________. mandatory information audited information discretionary information

discretionary information

Managerial accounting information is generally produced for internal information purposes and would be considered to be ____________. discretionary information mandatory information

discretionary information

Accounting Information Systems include _________________. computerized systems exclusively either manual or computerized systems manual systems exclusively

either manual or computerized systems

A(n) _______ system is a centralized database that collects data from throughout the firm.

enterprise

A(n) _________ system serves as a central depository for information from orders, customers, sales, inventory, and employees.

enterprise

The CGMA Competency Framework describes four broad sets of skills anchored by a commitment to ______ , integrity, and professionalism.

ethics

An IT auditor serves as a(n) ____________ of the accounting information system. manager evaluator designer

evaluator

External auditors accessing their client's accounting information system would be serving the accountant's role in an accounting information system of a(n) _____. designer evaluator manager user

evaluator

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

evaluator

Documentation is important to businesses for all of the following reasons except: facilitating tax reporting describing current processes facilitating process improvement standardized interactions training

facilitating tax reporting

Information that is not designed to lead users to accept or reject any specific decision would be an attribute of __________. relevant information financial information faithful representation

faithful representation

Neutrality, or information without bias, would be considered a component of ________, which are critical for providing useful accounting information. faithful representation reliability relevance

faithful representation

Accounting information systems provide decision makers _____________________. nonfinancial information only financial information only financial and nonfinancial information

financial and nonfinancial information

The CGMA Competency Framework classifies skills into _____ important sets.

four

An attribute of faithful representation is the information is ______________. helpfulness free from error timeliness

free from error

The IMA Management Accounting Competency Framework states that accountants must be able to develop financial plans consistent with the organization's strategic _____ .

goals

To be relevant, the attributes of AIS information should have feedback value, ______, and be material. be complete have predictive value exhibit neutrality

have predictive value

Business analysis includes all of the following except: communicating information about current and future business processes. using business process modeling tools. implementing technological improvements. defining business process requirements.

implementing technological improvements.

Performance ______ is an accounting function in the Business Management Support role.

management

Performance ____________ is an accounting function in the Business Management Support role. evaluation management compliance

management

Accountants are _____ of accounting information systems when they plan, coordinate, organize, staff, direct and lead those information systems. designer manager evaluator

manager

The four roles of accountants with respect to accounting information systems include user, designer, evaluator and _____. monitor auditor manager planner

manager

A corporate tax return would be considered to be ______________. notional information discretionary information mandatory information optional information

mandatory information

Information produced for investors, banks, the SEC and the IRS would be considered ______________. mandatory information forecasted information discretionary information

mandatory information

A business _____ is a simple, abstract representation of one or more business processes.

model

Business _____ allow the depiction of important features of business processes clearly and concisely. standards systems information models

models

Documentation includes business process_____ , business rules, user manuals, training manuals, and the like.

models

Attributes of faithful representation include complete, free from error and

neutral

To have faithful representation, the attributes of AIS information should be complete, ______, and free from error. relevant reliable neutral

neutral

An attribute of relevant information is: the information provides _________. predictive value neutrality representational faithfulness

predictive value

Which of the following is NOT a role of accountants with respect to technology? programmers designers managers users evaluators

programmers

An accounting information system is defined as a system that _____. gathers, summarizes and reports on accounting transactions records, processes, summarizes and reports on business transactions summarizes and reports on business transactions records and summarizes business transactions

records, processes, summarizes and reports on business transactions

Information which helps users predict what will happen in the future would be an attribute of __________. relevant information neutral information reliable information

relevant information

The Institute of Management Accounting Competency Framework defines ______ areas of skills that accounting professionals need to remain relevant.

six

Documentation is important to auditors since it provides audit _____

trails

Information is defined as data organized in a meaningful way to be useful to the

user

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 _____. evaluator user designer

user