Accounting Information Systems 13th Edition By Marshall B. Romney-Test Bank

Get ready for your exams with the comprehensive Test Bank for Accounting Information Systems 13th Edition By Marshall B. Romney

ISBN-10: 0133428532

Chapter 1 Accounting Information Systems: An Overview

1.1 Explore the distinction between data and information, delve into the characteristics of useful information, and understand how to assess the value of information.

1) What sets data apart from information?

1. A) Data is the output of an AIS.
2. B) Information is the primary output of an AIS.
3. C) Data is more useful in decision-making than information.
4. D) Data and information are the same.

Answer: B

Objective: Learning Objective 1

Difficulty: Easy

AACSB: Analytic

2) How would you best define information?

1. A) Raw facts about transactions.
2. B) Data that has been organized and processed to be meaningful.
3. C) Facts that are useful when processed in a timely manner.
4. D) Essentially the same as data.

Answer: B

Objective: Learning Objective 1

Difficulty: Easy

AACSB: Analytic

3) What is the most effective way to determine the value of information?

1. A) Its usefulness to decision-makers.
2. B) Its relevance to decision-makers.
3. C) Calculating the benefits of obtaining the information minus the production costs.
4. D) Assessing its impact on optimizing the value chain.

Answer: C

Objective: Learning Objective 1

Difficulty: Moderate

AACSB: Analytic

4) An accounting information system (AIS) processes ________ to deliver ________ to users.

1. A) Data; information
2. B) Data; transactions
3. C) Information; data
4. D) Data; benefits

Answer: A

Objective: Learning Objective 1

Difficulty: Easy

AACSB: Analytic

5) ________ information mitigates uncertainty, enhances decision-makers’ predictive abilities, or validates expectations.

1. A) Timely
2. B) Reliable
3. C) Relevant
4. D) Complete

Answer: C

Objective: Learning Objective 1

Difficulty: Easy

AACSB: Analytic

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