Financial Information Systems
Study Guide Questions
Course Introduction
Financial Information Systems explores the integration of information technology and financial management to improve business decision-making, reporting, and control. The course covers the design, implementation, and management of computerized financial systems, focusing on topics such as enterprise resource planning (ERP), database management, financial data analysis, and internal controls. Students will learn how modern financial information systems support activities like budgeting, auditing, forecasting, and compliance with regulatory requirements. Emphasis is placed on practical applications, system security, and the role of information systems in enhancing the accuracy, accessibility, and reliability of financial information within organizations.
Recommended Textbook
Accounting Information Systems 9th Edition by Ulric
J. Gelinas
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17 Chapters
2198 Verified Questions
2198 Flashcards
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Chapter 1: Introduction to Accounting Information Systems
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115 Verified Questions
115 Flashcards
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Sample Questions
Q1) Three of the five proposed core services of the _____________________________ are assurance and information integrity, management consulting and performance measurement, and technology services.
Answer: CPA Vision Project
Q2) According to the Sarbanes-Oxley Act of 2002, management must identify, document, and evaluate significant internal controls.
A)True
B)False
Answer: True
Q3) Which of the following statements is true?
A)With a more structured decision, there is a need for less accurate information.
B)With a more structured decision there is a need for summarized data.
C)With a more structured decision, there is a need for well defined, more accurate data.
D)With a less structured decision, there is a need for well defined more accurate data.
Answer: C
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3
Chapter 2: Enterprise Systems
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140 Flashcards
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Sample Questions
Q1) Telling the customer when they will receive an item is known as available to promise (ATP).
A)True
B)False
Answer: True
Q2) Core applications of an ERP are
A)financial accounting
B)procurement and logistics
C)sales and distribution
D)all of the above
Answer: D
Q3) The existence of the customer record, including the _________________________, provides the basic authorization required to accept and record the customer order.
Answer: credit limit
Q4) ________________________________________ software manages the interactions with the organization's that supply the goods and services to an enterprise.
Answer: Supplier relationship management (SRM)
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Page 4
Chapter 3: Electronic Business E-Business Systems
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) Internet market exchanges enable suppliers to put their products online, by feeding into electronic catalogs that sort through alternatives from different suppliers and electronically place an order.
A)True
B)False
Answer: True
Q2) According to the text, these include relatively permanent portions of master data
A)business event data
B)maintenance data
C)master data
D)standing data
Answer: D
Q3) ____________________ include relatively permanent portions of master data, such as a customer's address.
Answer: Standing data
Q4) The AICPA Internet assurance program that includes a certification and seal is called ____________________.
Answer: Web Trust
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Page 5
Chapter 4: Documenting Information Systems
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108 Flashcards
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Sample Questions
Q1) Which data flow diagram symbol is usually portrayed with an arrow?
A)data flow
B)data store
C)external entity
D)process bubble
Q2) In a logical data flow diagram for a cash receipts system, each of the following labels might appear in a bubble except:
A)cashier
B)capture cash receipts
C)endorse checks
D)update master files
Q3) In drawing a context diagram, we should include:
A)only exception routines
B)only error routines
C)only normal processing routines
D)only normal processing and exception routines
Q4) In a data flow diagram, an external entity symbol portrays a source or a destination of data outside the system.
A)True
B)False
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Chapter 5: Database Management Systems
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180 Flashcards
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Sample Questions
Q1) A(n) ___________________________________ is the attribute whose value is unique for every entity that will appear in the database.
Q2) A(n) ____________________ language is used to access a database and to produce inquiry reports.
Q3) Because it uses alphabetic characters, a(n) ____________________ coding system makes it easier for human beings to remember the codes.
Q4) A table is in ______________________________ if it is in first normal form and no non-key attribute is dependent on only a portion of the primary key.
Q5) A table is in second normal form (2NF), if it does not contain repeating groups.
A)True
B)False
Q6) A(n) ____ reflects a system's key entities and the relationship among them.
A)data flow diagram
B)relational table
C)program flow chart
D)entity-relationship diagram
Q7) A relation is in ______________________________ if it does not contain repeating groups.
Page 7
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Chapter 6: Relational Databases and Sql
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Sample Questions
Q1) The relationship that relates to the specification of how many occurrences of an entity can participate in the given relationship with any one occurrence of the other entity in the relationship is referred to as ______________________________.
Q2) Which of the following SQL statements would extract the client number and date for every instance that an employee worked less than 8 hours any particular day?
A)QUERY BILLING_HOURS SELECT Client_No, Date
WHERE Hours<8
B)QUERY client_No, Date FROM BILLING_HOURS
WHERE Hours>8
C)SELECT Client_No, Date WHERE Hours<8
D)SELECT Client_No, Date FROM BILLING_HOURS
WHERE Hours<8
Q3) The ____________________ command is used to add new tuples to a relation.
Q4) The _________________________ is specified to uniquely identity each tuple in the relation.
Q5) A missing value is called a non-null.
A)True
B)False
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Chapter 7: Controlling Information Systems: Introduction to Enterprise
Risk Management and Internal Control
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161 Verified Questions
161 Flashcards
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Sample Questions
Q1) Opportunities are events that could have a positive impact on organization objectives.
A)True
B)False
Q2) Ensuring the security of resources is the control goal that seeks to provide protection against loss, destruction, disclosure, copying, sale, or other misuse of an organization's resources.
A)True
B)False
Q3) A fraud is a deliberate act or untruth intended to obtain unfair or unlawful gain.
A)True
B)False
Q4) A programming error causes the sale of an inventory item to be added to the quantity on hand attribute in the inventory master data.Which control goal was not achieved?
A)ensure update completeness
B)ensure input accuracy
C)ensure update accuracy
D)ensure input completeness
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Chapter 8: Controlling Information Systems: Introduction to Pervasive Controls
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Sample Questions
Q1) Application controls restrict access to data, programs, and documentation.
A)True
B)False
Q2) From the standpoint of achieving the operations system control goal of security of resources, which of the following segregation of duties possibilities is least important?
A)between systems programming and computer operations
B)between data control and data preparation personnel
C)between systems development and computer operators
D)between technical services and data center
Q3) A _____________________________________________ uses many computers, called zombies, that unwittingly cooperate in a denial-of-service attack by sending messages to the target Web site.
Q4) Which of the following control plans is not a retention control plan?
A)creative and challenging work opportunities
B)occasional performance evaluations
C)competitive reward structure
D)viable career paths
Q5) ______________________________ are documents that helps users learn their jobs and perform consistently in those jobs.
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Chapter 9: Controlling Information Systems: Business
Process and Application Controls
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126 Verified Questions
126 Flashcards
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Sample Questions
Q1) Which of the following activities is not part of the computer agreement of batch totals:
A)a batch total is manually established and entered into the computer prior to data entry.
B)data shown on source documents are key entered or scanned.
C)the computer produces a report that includes a batch total.
D)a person reconciles the manual and computer batch totals.
Q2) The process of encoding data so that it may only be read by someone having a key is called:
A)a coding scheme
B)Encryption
C)dependency checks
D)check digit verification
Q3) In the control matrix, the rows represent:
A)control goals of the operations system
B)recommended control plans including both present and missing controls
C)control goals of the information system
D)control goals of the management system
Q4) _________________________ represent a summarization of any numeric data field within the input document or record.
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Chapter 10: The Order Entrysales Oes Process
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Sample Questions
Q1) A customer acknowledgement is sent to the billing department to notify them of a pending shipment.
A)True
B)False
Q2) The OE/S process helps support the decision needs of the accounting department.
A)True
B)False
Q3) ___________________________________ contains a record of each item that is stocked in the warehouse or regularly ordered from a vendor.
Q4) The order entry/sales (OE/S) process includes the first four steps in the order to cash process.
A)True
B)False
Q5) Input devices that capture printed images or documents and convert them into electronic digital signals that can be stored in computer media are called
Q6) The buzzword in CRM which means the grouping of customers into categories based on key characteristics is ____________________.
Q7) In the ER diagram for OE/S, STOCK_PICK triggers ____________________.
Page 12
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Chapter 11: The Billingaccounts Receivable Cash Receipts
Barcr Process
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) A debit card is a method of payment whereby a third party, for a fee, removes from the collector the risk of non-collection of the account receivable.
A)True
B)False
Q2) The ________________________________ is one of the earliest and most prominent methods for EFT in which the collector's bank account is credited and the payer's bank account is debited for the amount of a payment.
Q3) Which of the following is most effective in reducing the amount of float?
A)credit cards
B)debit cards
C)MICRs
D)charge cards
Q4) A ____________________ is a postal address, maintained by the firm's bank, which is used solely for the purpose of collecting checks.
Q5) The two types of accounts receivable systems discussed in the text are the balance-forward and ____________________ systems.
Q6) The acronym EFT stands for
Page 13
Q7) The acronym ACH stands for ___________________________________.
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Chapter 12: The Purchasing Process
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Sample Questions
Q1) It is not uncommon for the copy of the PO available for the receiving department to be a carbon copy, meaning that certain data is blanked out.
A)True
B)False
Q2) Inventory carrying costs include all of the following except:
A)clerical cost of ordering goods
B)opportunity cost of investment funds
C)insurance costs
D)obsolescence and deterioration
Q3) The purchase requisition is sent from the inventory control department to the ____________________ department.
Q4) The ____________________ manager usually performs major buying activities as well as performing the administrative duties of running a department.
Q5) In selecting a vendor, a buyer may need to obtain competitive bids by means of a document called a(n) ______________________________.
Q6) ______________________________ is a technique for ranking inventory items according to their relative importance.
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Chapter 13: Accounts Payablecash Disbursements Apcd Process
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) The cashier is responsible for processing vendor invoices, preparing payment vouchers, and recording purchase and disbursement transactions.
A)True
B)False
Q2) The ___________________________________ data is a repository of all unpaid vendor invoices.
Q3) Non-invoiced payments include
A)payroll
B)income taxes
C)investments
D)all of the above
Q4) The control plan independent validation of vendor invoice is directed primarily at which of the following control goals?
A)select a vendor who will provide the best quality at the lowest price by the promised delivery date
B)input validity
C)input accuracy
D)input completeness
Q5) The cashier usually reports to _________________________.
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Chapter 14: The Human Resources Process HR
Management and Payroll Processes
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118 Verified Questions
118 Flashcards
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Sample Questions
Q1) According to the flowchart for the HR management process, which is not one of the the three HR related events that HR forms capture information about:
A)selecting employees
B)paying employees
C)evaluating employees
D)terminating employees
Q2) Business tax deposits are made directly to the IRS.
A)True
B)False
Q3) The manager of _____________________________________________ handles employee complaints.
Q4) Updates of the tax rates data are stored in:
A)tax rates data
B)employee/payroll master data
C)HR master data
D)GL master data
Q5) ____________________________________helps ensure the safety of resources (cash) by identifying missing or unusual items entered into the account.
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Q6) Wages taxable under FICA are reported on Form ____________________.
Chapter 15: Integrated Production Processes IPP
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Sample Questions
Q1) In the ____________________ approach to manufacturing, the sales forecast drives the production plan and goods are produced in large batches.
Q2) The capacity requirements planning (CRP) process that uses the information from the master production schedule and the time-phased order requirements schedule to develop detailed machine and labor use schedule based on available capacity.
A)True
B)False
Q3) ________________________________are ERP modules or enterprise systems add-ons that organize data by product, including designs, manufacturing specifications, quality, and warranty performance.
Q4) Activity-based-costing (ABC) systems are generally prevalent in companies seeking to increase ____ and ____.
A)cost accuracy and usefulness
B)cost accumulation and cost assignment
C)cost allocation and cost containment
D)product costing and cost allocation
Q5) The _________________________ system is concerned with the flow of costs through the factory.
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Chapter 16: General Ledger and Business Reporting Glbr Process
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Sample Questions
Q1) The business reporting process comprises all of the following except:
A)preparing general purpose external financial statements
B)generating ad hoc and predetermined business reports for management
C)ensuring that the external financial statements adhere to GAAP
D)fueling the financial reporting, business reporting, and other reporting subsystems by providing the information needed to prepare external and internal reports
Q2) The ________________________________________ is an interacting structure of people, equipment, methods, and controls that is designed to accomplish both operations and information system functions with the purpose of generating accounting and other reports.
Q3) ____________is a generalized system for the customized tagging of data to enable the definition, transmission, and interpretation of data over the Internet.XML uses predefined tags to let information providers create uniform information for users.
Q4) XML is a generalized system for the customized tagging of data to enable the definition, transmission, and interpretation of data over the Internet.
A)True
B)False
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Chapter 17: Acquiring and Implementing Accounting Information Systems
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206 Verified Questions
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Sample Questions
Q1) The organization's management or IT steering committee approves the project for further systems development.
A)True
B)False
Q2) After defining the requirements for the new system, the current logical DFD should be modified to reflect the components of the future system.The development team may propose logical design alternatives for the future logical system that may involve derivatives of the following except:
A)internal entities
B)activities
C)data stores
D)control activities
Q3) The system development phase that precedes the system design phase is:
A)systems analysis
B)systems implementation and operations
C)systems survey
D)systems selection
Q4) The ____________________ analysis or study is performed first because the data are relatively easy to obtain and are more objective than the data on effectiveness.
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