ACC 564 FINAL EXAM
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This pack of ACC 564 WK 11 Final Exam gives the solution to:
1) Which of the following statements below shows the contrast
between data and information?
2) Information is
3) The value of information can best be defined as
4) An accounting information system (AIS) processes ________ to
provide users with ________.
5) Information that reduces uncertainty, improves decision
makers’ ability to make predictions, or confirms or corrects their prior
expectations, is said to be
6) Information that is free from error or bias and accurately
represents the events or activities of the organization is
7) Information that does not omit important aspects of the
underlying events or activities that it measures is
8) When two knowledgeable people acting independently each produce
the same information, this information is said to be
9) Data must be converted into information to be considered
useful and meaningful for decision-making. There are six characteristics that
make information both useful and meaningful. If information is free from error
or bias and accurately represents the events or activities of the organization,
it is representative of the characteristic of
10) An accounting information system must be able to perform
which of the following tasks?
11) Which of the following is not an example of a common
activity in an AIS?
12) Which of the following is not one of the components of an
AIS?
13) One group that relies on both the adequate collection and
transformation of data for decision-making purposes for an organization is
14) The primary objective of accounting is to
15) The American Institute of Certified Public Accountants
(AICPA) has recognized the importance of AIS and the major impact information
technology has on the area of accounting. To recognize individual CPAs who have
met educational and experiential requirements in this area, the group formally
created the designation known as
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