ACC 340 Accounting Information Systems: Final Exam Review and Key Concepts ACC 340 Final Exam 1.) Which of the following is true? An AIS must be computerized to be useful An AIS always produces useful information An AIS always produces financial information none of these 2.) Which of the following is true about the terms “data” and “information” within the context of Chapter 1? The terms are exactly the same The terms are always exact opposites Some “data” can also be “information” none of these 3.) Most AISs perform all of these functions except: Collect raw accounting data Store accounting data for future uses Process data into useful information AISs perform all of these functions 4.) Which of the following is one of the five interacting components of an accounting information system? Fuzzy logic Testing Certification Procedures Internet 5.) A computer network spanning regional, national, or global areas best describes which of the following? LAN WAN ESPN DSL ISDN 6.). Documentation includes: All flowcharts, narratives, and other written communications associated with the information system All written communications associated with an accounting information system except flowcharts and data flow diagrams All flowcharts, narratives, and other written communications associated with an accounting information system, except for program flowcharts, decision tables, and pseudocode Flowcharts and data flow diagrams only 7.) A system flowchart is a block diagram that: Is used only by auditors Is used primarily when document flowcharts cannot be used Depicts the flow of computer systems in an organization Depicts the flow of data through a computerized accounting information system 8.) The financial accounting cycle ends with: The production of financial statements Closing journal entries The production of an adjusted trial balance Development of cash forecasts