This quiz works best with JavaScript enabled. Home > Finance > Accounting > Accounting Information Systems > Accounting Information Systems – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Accounting Information Systems Quiz 3 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A control account ..... A) Does not appear on the balance sheet. B) Is equivalent to a contra account and represents the offsetting nature of debits and credits on a firm's financial statements. C) Has a balance that equals the sum of the balances in a group of related accounts in a subsidiary ledger. D) Holds individual accounts that support a general ledger account. Show Answer Correct Answer: C) Has a balance that equals the sum of the balances in a group of related accounts in a subsidiary ledger. 2. Which is not a characteristic of good data and information? A) Exotic. B) Fast. C) Reliable. D) Correct. Show Answer Correct Answer: A) Exotic. 3. Figure the first web? A) H index 0:Body. B) H Index 3:Product. C) H Index 5:Revenue Report. D) Hindex 4:Price. E) H index 1:Naratif. Show Answer Correct Answer: A) H index 0:Body. 4. Information lacking reliability may still have value A) FALSE. B) TRUE. Show Answer Correct Answer: A) FALSE. 5. Which of the following economic events would not be recorded in the cash receipts journal? A) Collections of accounts receivable. B) Cash sales of merchandise. C) Cash from sale of land. D) Cash purchases of merchandise. Show Answer Correct Answer: D) Cash purchases of merchandise. 6. What is another name for a database management system? A) DMBS. B) BSBM. C) DBMS. D) DBSM. Show Answer Correct Answer: C) DBMS. 7. Enterprise resource planning (ERP) systems are typically used by companies with revenues of less than $ 5 million and up to 20 employees A) True. B) False. Show Answer Correct Answer: B) False. 8. Database management software A) Word processing software. B) Presentation software. C) Spreadsheet software. D) Database management software. Show Answer Correct Answer: D) Database management software. 9. What are the characteristics of information that are useful in decision making? A) Sources are based on individuals only. B) Can be evaluated in numbers. C) Complete. D) Related to the past. Show Answer Correct Answer: C) Complete. 10. What are the disadvantages of using a database? A) Avoid data conflicts. B) A security system must be established. C) Reduce data redundancy. D) Information can be shared. Show Answer Correct Answer: B) A security system must be established. 11. Which of the following is not one of the credit columns in the cash receipts journal: A) Sales. B) Accounts payable. C) Other accounts. D) Accounts receivable. Show Answer Correct Answer: B) Accounts payable. 12. The major difference between the Financial Reporting System (FRS) and the Management Reporting System (MRS) is the A) FRS provides information to internal and external users; the MRS provides information to internal users. B) FRS provides discretionary information; the MRS provides nondiscretionary information. C) FRS reports are prepared using information provided by the General Ledger System; the MRS provides information to the General Ledger System. D) FRS reports are prepared in flexible, nonstandardized formats; the MRS reports are prepared in standardized, formal formats. Show Answer Correct Answer: A) FRS provides information to internal and external users; the MRS provides information to internal users. 13. Purchase of office supplies for cash A) Cash Payment Journal. B) Purchases Journal. C) General Journal. D) Cash Receipt Journal. E) Sales Journal. Show Answer Correct Answer: A) Cash Payment Journal. 14. Input blocks include A) Profit = income-expenses. B) Computer. C) Form. D) Annual report. Show Answer Correct Answer: C) Form. 15. Which of the following is incorrect concerning theposting of the cash receipts journal? A) The total of the Other Accounts column is notposted. B) All column totals except the total for the Other Accounts column are posted once at the end of the month to the account title(s) specified in the column heading. C) The totals of all columns are posted daily to theaccounts specified in the column heading. D) The individual amounts in a column posted intotal to a control account are posted daily to thesubsidiary ledger account specified in the AccountCredited column. Show Answer Correct Answer: C) The totals of all columns are posted daily to theaccounts specified in the column heading. 16. Following are The Organizational Structure except A) Business segment. B) Marketing function. C) Information Technology function. D) Functional segmentation. Show Answer Correct Answer: B) Marketing function. 17. What is the accounting theory that states that a source document provides evidence to capture the occurrence of a transaction? A) Objectivity. B) Monetary . C) Historical cost. D) Original cost. Show Answer Correct Answer: A) Objectivity. 18. Symbol Flowchart Different with DFD, there are? A) Data Source, Document, Storage, Process. B) Data Source, Document, Database. C) Data Source, Document, Storage. D) Data Source, Data Flows, Process, Data Storage. E) Data Source, Document, Data Flow. Show Answer Correct Answer: D) Data Source, Data Flows, Process, Data Storage. 19. A backbone system is completely finished, tested, and ready for implementation A) FALSE. B) TRUE. Show Answer Correct Answer: A) FALSE. 20. If a customer returns goods for credit, the sellingcompany normally makes an entry in the: A) Cash payments journal. B) Sales journal. C) Cash receipts journal. D) General journal. Show Answer Correct Answer: D) General journal. 21. What is the meaning of hardware? A) Computer components. B) Personnel working with computers. C) Steps in work. D) Program that tells the computer to work. Show Answer Correct Answer: A) Computer components. 22. Implementation of an ERP system requires effective segregation of responsibility for A) Recording, risk assessment, and control procedures. B) Authorization, monitoring, and risk assessment. C) Recording and monitoring of organizational assets. D) Authorization, recording, and custody of organizational assets. Show Answer Correct Answer: D) Authorization, recording, and custody of organizational assets. 23. What does accounting information system mean? A) Report on work performance. B) Processing. C) Control of systems or resources. D) A system that is responsible for collecting and processing. Show Answer Correct Answer: D) A system that is responsible for collecting and processing. 24. ABC Ltd found that it has undercharged us for the joysticks bought earlier. A) Payment voucher. B) Receipt. C) Credit note. D) Invoice. E) Debit note. Show Answer Correct Answer: E) Debit note. 25. Which of the following flowcharts illustrates the flow of data among areas of responsibility in an organization? A) Program flowchart. B) Computer configuration chart. C) Document flowchart. D) System flowchart. E) A system flowchart is a narrative representation of an information system. Show Answer Correct Answer: C) Document flowchart. 26. Which of the following attributes in the Cash Receipts table (representing payments received from customers) would most likely be a foreign key? A) Customer number. B) Cash receipt monthly. C) Cash receipt number. D) Cash receipt date. E) Cash receipt number. Show Answer Correct Answer: A) Customer number. 27. Which statement is correct regarding financial accounting and management accounting? A) Management accounting Focused specifically on preparing financial information for internal users or management. B) Management accounting It is not necessary to prepare according to generally accepted accounting principles. C) Management accounting is not compulsory. D) All correct. Show Answer Correct Answer: D) All correct. 28. Which statement is correct regarding the words data and information? A) Data is more complex than information. B) The information can be used for management to make immediate decisions. C) Data becomes information in the hands of the user. D) Information is easier to understand than data. Show Answer Correct Answer: C) Data becomes information in the hands of the user. 29. Evolution of information system models are A) Technology Data, REA model, Database model. B) Manual Data, REA model, Database model. C) Modern model, REA model, Database model. D) Manual Data, REA model, Technology model. Show Answer Correct Answer: B) Manual Data, REA model, Database model. 30. Which statement is correct regarding ERP programs? A) Accounting packaged program. B) Budget planning program. C) Accounting information system development program. D) Enterprise resource planning program. Show Answer Correct Answer: D) Enterprise resource planning program. ← PreviousNext →Related QuizzesAccounting QuizzesFinance QuizzesAccounting Information Systems Quiz 1Accounting Information Systems Quiz 2Accounting Information Systems Quiz 4Accounting Information Systems Quiz 5Accounting Information Systems Quiz 6Accounting Information Systems Quiz 7Accounting Information Systems Quiz 8Accounting Information Systems Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books