Accounting Information System - D217 - WGU

Accounting Information System - D217 - WGU Leave the first rating Students also studied Terms in this set (20) Social SciencesBusinessBusiness management Save D215 Auditing WGU All Chapter Quiz...336 terms Sav2215Preview WGU D217 Accounting Information ...163 terms kristineburrow Preview WGU D217 Accounting Information ...162 terms ewhee28Preview D215 Au 70 terms Aci Which type of digital computer file stores payroll programs and other data that are used as standards for processing?Master file Transaction file Archive file Reference file Reference File Data coding involves creating simple numeric or alphabetic codes to represent complex economic phenomena that facilitate efficient data processing.Which problem does data coding solve?Items sold can be properly identified and entered onto source documents.An entry takes a great deal of recording space, is time- consuming to record, and is prone to many types of errors.Postings to ledger accounts require minimal searching through the subsidiary files using small descriptions as the key.Locating and picking goods for shipment is efficient, and shipping errors are unlikely.An entry takes a great deal of recording space, is time-consuming to record, and is prone to many types of errors.

A grocery store updates its inventory levels in the accounting information system in real time. However, the store frequently reports petty theft and has trouble locating inventory on the shop floor.Which characteristic of useful information is missing from this scenario?Timely Reliable Complete Relevant Reliable Which component of an information system is used to produce an operational budget?Transaction processing system (TPS) Financial reporting system (FRS) Management reporting system (MRS) General ledger system (GLS) Management reporting system (MRS) What describes the network of information that can be used as an audit trail?Adjusted trial balance, ledgers, and journals Adjusted trial balance, closing entries, and ledgers Documents, journals, and ledgers Journals, ledgers, and special journals or subsidiary ledgers Documents, journals, and ledgers Which items make up the three-way match?Purchase order, reports and blind copy Supplier's invoice, receiving report and purchase order Purchase requisition, vendor invoice and packing slips Reports, blind copy and purchase requisition Supplier's invoice, receiving report and purchase order Which document contains details on the acquisition of a fixed asset?Inventory report Journal voucher report Payroll report Depreciation report Depreciation report Which items are included in the subsidiary ledger?Tracking information of the outstanding orders with inventory on the backorder The account number and name with a description of items purchased The quantities of items shipped and whether the customer received the correct merchandise Customer name, customer address, current balance, available credit, transaction dates, invoice numbers, credit for payments, returns Customer name, customer address, current balance, available credit, transaction dates, invoice numbers, credit for payments, returns

How many surprise checks must an organization undergo annually to maintain the International Computer Security Association seal?One Two Three Four Two What are the key problems an organization faces when trying to convey competence and conduct business fairly with customers, trading partners, and employees?Establishing what is deemed an adequate level of privacy protection and abiding by the privacy regulations Implementing the technological infrastructure and assuring partner's safeguards are in place and working Assessing the quality of encryption tools used and the effectiveness of key management procedures Performing risk assessments and estimating the organization's liability related to the e-commerce systems process Implementing the technological infrastructure and assuring partner's safeguards are in place and working Which topics create new challenges for the accounting profession because of a changing legal environment?Intellectual property rights, privacy, and security Revenue recognition, cloud storage, and access Deferred taxes, management reporting, and inventory Procurement, sales, and human resources Intellectual property rights, privacy, and security What makes an enterprise resource planning (ERP) system more than simply an elaborate transaction processing system?It is a decision support tool.It is a large database.It is an incomplete record of accounting activity.It is a research-only application.It is a decision support tool.Which software option is mass-produced and designed to serve a wide variety of user needs, enabling the vendor to reduce development cost?Custom in-house systems Vendor-supported systems Backbone systems with customization General accounting systems General accounting systems

Which phases of the system development life cycle are associated with both in-house development and systems that are purchased from an outside vendor?Phases involving the production of several alternative conceptual systems that satisfy system requirements Phases involving a system being physically constructed Phases involving needs analysis and system specification Phases involving selecting a programming language Phases involving needs analysis and system specification What is a characteristic of general accounting systems?They serve a narrow diversification of user needs.They are individually produced.They are a standard system.T hey provide rigidity and structure.They are a standard system.Which controls do organizations use to ensure the completeness, accuracy, and validity of financial transactions?General controls Information technology controls Application controls Segregation-of-duties controls Application controls Which outcome can occur if systems development is not separated from a database administrator (DBA)?Access to make unauthorized changes to applications Insufficient systems documentation Errors in data entry Deficient database access controls Deficient database access controls Why are knowledgeable personnel in a client's organization interviewed as part of the black box approach?To understand functional characteristics To create master test files To analyze input transactions To document processing logic To understand functional characteristics What is programmed into a network-level firewall to accept or deny access requests?Privileges list Filtering rules Password rules Access control list Filtering rules