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Study Resources (Accounting)

1.The main objective of a not-for-profit business is not to make a profit. 2.An example of an external user of accounting information is the federal government. 3.A corporation is a business that is legally separate and distinct from its owners. 4.About 90% of the businesses in the United States are organized as corporations. 5.The.
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61. Refer to the diagram below, where the numbers next to the arrows refer to the number of days required for completion of the corresponding activity. What is the critical path?   A. A-B-D-F B. A-C-E-F C. A-B-D-E-F D. A-C-B-D-F E. A-C-B-D-E-F 62. Refer to the diagram below, where the numbers next to the arrows refer to.
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21.If a building is appraised for $85,000, offered for sale at $90,000, and the buyer pays $80,000 cash for it, the buyer would record the building at $85,000. 22.Generally accepted accounting principles regulate how and what financial information is reported by businesses. 23.The accounting equation can be expressed as Assets - Liabilities.
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65. Describe computer-aided software (or systems. engineering (CASE. and identify the advantages and disadvantages of CASE? 66. Explain the concept of an application service provider. 67. Identify the ways an organization can gain full advantage of using a Request For Proposal (RFP.. 68. Discuss how an organization can develop custom.
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11. Who is responsible for preparing the specifications that are used to create the programs? A. management B. programmers C. systems analysts D. the information systems steering committee 12. One step in the systems development life cycle (SDLC. identifies and evaluates design alternatives and to develop design specifications. This step.
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51. Which of the following diagrams represents the cardinality pairs in a situation where a finished product requires one or more machine operations, and machines usage is recorded to specific production runs? A. B. C. D. 52. Which of the following diagrams represents the cardinality pairs in a situation where a.
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41. When integrating separate REA diagrams, A. common resources are placed between the events that affect them. B. each resource is connected to two agents. C. resources are duplicated to show the give and get of economic duality relationships. D. resources are merged if both events in the stockflow relationship are modeled. 42. In.
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78. Identify the main reasons why companies change existing systems? 79. Who makes up the project development team and what is the team's purpose? 80. Describe the five phases of systems analysis. 81. Describe the four primary objectives of a systems survey conducted during systems analysis. 82. Identify and briefly discuss the.
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11.An account receivable is typically classified as a revenue. 12.Managerial accounting information is used by external and internal users equally. 13.Financial accounting provides information to all users, while the main focus for managerial accounting is to provide information to the management. 14.Proper ethical conduct implies that you only consider what's in your best.
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1. Developing a general framework for implementing user requirements and solving problems identified in the analysis phase occurs in which phase of the SDLC? A. conceptual systems design B. implementation and conversion C. operations and maintenance D. physical design 2. Who is responsible for evaluating the design alternatives and selecting the.
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51. Where is the responsibility for the development of end-user computing applications typically placed? A. End users B. Help desk C. Information Technology Services Department D. Programmers 52. Callow Youth Clothing (CYC. declared bankruptcy in 2007 and has since closed 27 stores, which amounts to over half of its retail outlets. One of the conditions.
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21. Why do so many organizations develop their own software, when many canned software packages are available? A. An organization may have unique requirements. B. Canned software packages are often less expensive than software developed in house. C. The organization's size and complexity necessitates the in-house development of software. D. A and.
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60. Describe the difficulties that could be encountered when developing an AIS. 61. What are the three methods to obtain a new information system? What is a turnkey system? 62. What guidelines should be followed when contracting with an outside developer to create custom software? 63. Describe the purposes of.
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31. Several types of documentation must be prepared for a new system. The type of documentation that includes the files and databases accessed and file retention requirements is called A. development documentation. B. operations documentation. C. reference documentation. D. user documentation. 32. What type of system test determines whether a.
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31.Paying an account payable increases liabilities and decreases assets. 32.Receiving payments on an account receivable increases both equity and assets. 33.Cash withdrawals by owners decrease assets and increase equity. 34.Purchasing supplies on account increases liabilities and decreases equity. 35.Receiving a bill or otherwise being notified that an amount is owed is not recorded until.
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41. Which data gathering method is most helpful to deal with the question: "Why?" A. interviews B. observation by the analyst C. questionnaires D. system documentation 42. Significant system changes were implemented two months ago. The changes were well-planned, well-designed, thoroughly tested before and after conversion, and several employee training.
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41. Which of the following is the final activity in the systems development life cycle? A. monitoring of the system B. ongoing maintenance activities C. preparation of the post-implementation review report D. user acceptance of the post-implementation review report 42. An analyst who asks the question, "Does the system produce.
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41. What is a disadvantage to prototyping? A. developers may shortchange the testing and documentation process B. errors are likely to be detected and eliminated early in the development process C. prototyping may be less costly than other approaches D. prototyping usually produces a better definition of user needs than.
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51. Which group is responsible for preparing a systems analysis report? A. computer analysts B. management C. the project development team D. the steering committee 52. In which systems analysis step do analysts conduct an extensive study of the present system to gain a thorough understanding of how it works?.
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21. Since the same inventory items may be stored in several different warehouses, the maximum cardinality from Inventory to Warehouse is most likely ________. A. 0 B. N C. 1 D. determined by the number of warehouses compared to the number of inventory items 22. Relationships between resources and agents, such as Inventory and Supplier,.
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41. The ________ entity is used to collect and summarize data about the raw materials, labor, and machine operations used during production of inventory. A. Finished Goods Inventory B. Raw Materials C. Issue Raw Materials D. Work-in-Process 42. In the table called Perform Machine Operations, which is the most likely primary key? A. Equipment number B..
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11. Information provided on a Request For Proposal given to vendors should include A. a budget for software and hardware. B. detailed specifications for the AIS. C. timeframe required for completion of the project. D. All of the above are correct. 12. The system performance evaluation approach that evaluates systems based.
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1. Explicitly identifying the different employees who participate in each event by their job functions is helpful when verifying A. internal controls. B. job descriptions. C. proper supervision. D. segregation of duties. 2. Many companies sell software, music, or digital photographs over the Internet. They give up a digital copy of those resources, but.
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31. Which advantage of outsourcing, given below, may tend to cause resistance on the part of in-house IS staff and other organization employees? A. Outsourcing allows a company to better use its assets and scarce resources. B. Outsourcing can lower a company's overall IS costs. C. Outsourcing facilitates downsizing. D..
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11. Physical input design considerations include A. which transactions to enter. B. layout of source documents. C. types of data input and optimal input methods. D. cost of collecting and storing data. 12. Program design A. spans all five stages of the system development life cycle. B. includes writing computer code. C. includes.
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1. A system change that results in an improved product or service and helps lower costs provided a(n. A. competitive advantage. B. improved business process. C. productivity gain. D. technological change. 2. An antiquated information system used by an office supply manufacturer caused customer dissatisfaction since it took two days to process a telephone order..
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56. How can accountants help in the systems development life cycle (SDLC. process? 57. What factors does a steering committee consider when evaluating different system designs? 58. What are the purposes of a conceptual systems design report? 59. Describe at least four considerations during controls design. 60. What is systems.
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