2009 B-4 Class Questions Preview

2009 B-4 Class Questions Preview - Becker CPA Review,...

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Business Environment & Concepts 4 Class Questions © 2009 DeVry/Becker Educational Development Corp. All rights reserved. 1 1. CPA-03476 Place the following sequence of events in an AIS in the proper logical order: I. Trial balances are prepared. II. The transaction data from source documents is entered into the AIS by an end user. III. Financial reports are generated. IV. These transactions are recorded in the appropriate journal. V. The original paper source documents are filed. VI. The transactions are posted to the general and subsidiary ledgers. a. V, II, VI, IV, I, III. b. II, V, VI, IV, I, III. c. II, V, IV, VI, I, III. d. V, II, VI, IV, III, I. CPA-03476 Explanation Choice "c" is correct. The sequence of events in an AIS is as follows: 1. The transaction data from source documents is entered into the AIS by an end user (II). 2. The original paper source documents are filed (V). 3. These transactions are recorded in the appropriate journal (IV). 4. The transactions are posted to the general and subsidiary ledgers (VI). 5. Trial balances are prepared (I). 6. Financial reports are generated (III). 2. CPA-03486 All of the following are examples of a decision support system (DSS) except for a: a. Financial modeling application. b. Transaction processing system. c. Database query application. d. Sensitivity analysis application. CPA-03486 Explanation Choice "b" is correct. Decision support systems (DSS) are computer-based information systems that provide interactive support to managers or others during the decision-making process. Transaction processing systems process data resulting from business transactions (monthly, historical in nature; not predictive). Choice "a" is incorrect. A financial modeling application is a DSS to assist management in evaluating financing alternatives. Choice "c" is incorrect. Database query applications are a DSS that read and reorganize data to management's specifications but do not allow alterations of the data. Choice "d" is incorrect. Sensitivity analysis is a DSS that uses a "what if" technique that asks how a given outcome will change if the original estimates of the model are changed.
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Business Environment & Concepts 4 Class Questions © 2009 DeVry/Becker Educational Development Corp. All rights reserved. 2 3. CPA-03490 Which one of the following statements about an accounting information system (AIS) is incorrect? a. An AIS supports day-to-day operations by collecting and storing data about an organization's transactions. b. The information produced by AIS is made available to all levels of management for use in planning and controlling an organization's activities. c. An AIS is best suited to solve problems where there is great uncertainty and ill-defined reporting requirements.
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2009 B-4 Class Questions Preview - Becker CPA Review,...

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