Accounting 450

Question 1 
1 out of 1 points


An accounting information system (AIS) processes ________ to provide users with ________. 
Answer

Selected Answer: data; information Correct Answer: data; information

Question 2 
1 out of 1 points


The value of information can best be defined as 
Answer

Selected Answer: the benefits produced by possessing and using the information minus the cost of producing it. Correct Answer: the benefits produced by possessing and using the information minus the cost of producing it.

Question 3 
1 out of 1 points


Information that does not omit important aspects of the underlying events or activities that it measures is 
Answer

Selected Answer: complete. Correct Answer: complete.

Question 4 
1 out of 1 points


Information that reduces uncertainty, improves decision makers' ability to make predictions, or confirms or corrects their prior expectations, is said to be 
Answer

Selected Answer: relevant. Correct Answer: relevant.

Question 5 
1 out of 1 points


Refer to the chart above. At what point, measured in terms of the net cost of information, does information overload begin? 
Answer

Selected Answer: 10 Correct Answer: 10

Question 6 
1 out of 1 points


One group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is 
Answer

Selected Answer: management. Correct Answer: management.

Question 7 
1 out of 1 points


An AIS provides value by 
Answer

Selected Answer: both improving products or services through information that increases quality and reduces costs and providing timely and reliable information to decision makers Correct Answer: both improving products or services through information that increases quality and reduces costs and providing timely and reliable information to decision makers

Question 8 
1 out of 1 points


Which of the following statements is false? 
Answer

Selected Answer: Every organization should implement every transaction cycle module. Correct Answer: Every organization should implement every transaction cycle module.

Question 9 
1 out of 1 points


An accounting information system must be able to perform which of the following tasks? 
Answer

Selected Answer: All of these Correct Answer: All of these

Question 10 
1 out of 1 points


Which of the following tradeoffs between characteristics of useful information is least objectionable? 
Answer

Selected Answer: Incomplete information received on a timely basis Correct Answer: Incomplete information received on a timely basis