Ch01 TB ManAcct4e.doc

Ch01 TB ManAcct4e.doc - Chapter 1Accounting Information and...

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Chapter 1—Accounting Information and Managerial Decisions MULTIPLE CHOICE 1. The main focus of managerial accounting is: A. decision making. B. the preparation of financial statements. C. the determination of net income. D. documenting cash flows. ANS: A PTS: 1 DIF: Easy OBJ: 1 2. Which of the following statements is not true regarding the types of organizations that need accounting information? A. Both large and small organizations need accounting information. B. Manufacturing and merchandising organizations need accounting information. C. Only organizations that are “for profit” need accounting information. D. Service organizations need accounting information. ANS: C PTS: 1 DIF: Easy OBJ: 1 3. Which of the following is not true about knowledge in the business environment? A. It is the same as data and information. B. It is the value added from shared information. C. It includes both quantitative and qualitative information. D. It must be managed in order for a company to remain competitive. ANS: A PTS: 1 DIF: Easy OBJ: 1 4. ERP is an abbreviation for: A. Environmental Resource Planning B. Economic Resource Planning C. Enterprise Research Planning D. Enterprise Resource Planning ANS: D PTS: 1 DIF: Easy OBJ: 1 5. Which of the following statements is not true regarding ERP? A. It integrates traditional accounting information systems with other information systems. B. It can be customized to provide specific and relevant information to different types of users. C. It has evolved in the past few years to address the shortcomings of traditional accounting information systems. D. It captures quantitative but not qualitative information. ANS: D PTS: 1 DIF: Easy OBJ: 1 6. ERP systems capture: A. only qualitative data. B. only quantitative data. C. both qualitative and quantitative data. D. the same information as a traditional accounting information systems. ANS: C PTS: 1 DIF: Easy OBJ: 1
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7. An example of qualitative data is: A. product cost. B. customer satisfaction. C. net income. D. operating costs. ANS: B PTS: 1 DIF: Easy OBJ: 1 8. An example of quantitative data is: A. company reputation. B. number of customer complaints. C. customer satisfaction. D. product quality. ANS: B PTS: 1 DIF: Easy OBJ: 1 9. Which of the following statements is not true regarding knowledge management tools? A. ERP systems are usually not effective as a knowledge management tool. B. Data warehouses are an example of a knowledge management tool. C. Knowledge warehouses are an example of a knowledge management tool. D. Data mining software can be used as a knowledge management tool. ANS: A PTS: 1 DIF: Easy OBJ: 2 10. Which of the following serves as a central depository for electronic data? A.
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This note was uploaded on 12/14/2009 for the course ACC 223 taught by Professor Lebonski during the Spring '09 term at Alabama A&M University.

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Ch01 TB ManAcct4e.doc - Chapter 1Accounting Information and...

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