Chapter ( 1 )

5 Questions | By Gaviota | Last updated: Jul 30, 2011 | Total Attempts: 625

Each question has only one right answer. Be aware that this quiz is timed.

Questions and Answers

1.

Which of the following accurately depicts the components of an accounting information system?
- A.
  
  People, forms, and reports
- B.
  
  People, procedures, and information technology
- C.
  
  People, procedures, and paper
- D.
  
  Procedures, paper, and information technology
- E.
  
  People, paper, and information technology
2.

Identify the two basic strategies noted in the text.
- A.
  
  Low cost producer strategy and high quantity producer strategy
- B.
  
  High quantity producer strategy and loss leader strategy
- C.
  
  Product/service differentiation strategy and loss leader strategy
- D.
  
  Low cost producer strategy and product/service differentiation strategy
3.

Which of the following is not one of the primary activities in the value chain of an organization?
- A.
  
  Marketing and Sales
- B.
  
  Outbound Logistics
- C.
  
  Operations
- D.
  
  Purchasing
- E.
  
  Inbound Logistics
4.

While an accounting information system supports each of the organization's primary activities in the value chain as well as many of the support activities, it can only be categorized into one of the activities. Into which activity is the accounting information system categorized?
- A.
  
  Purchasing
- B.
  
  Service
- C.
  
  Firm Infrastructure
- D.
  
  Operations
- E.
  
  Technology
5.

What is data?
- A.
  
  All of the facts that are collected, stored, and processed by an information system
- B.
  
  All of the debit and credit information about each transaction
- C.
  
  A character in the Star Trek series
- D.
  
  The same thing as information