WGU D217 ACCOUNTING INFORMATION SYSTEMS EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+2024

WGU D217 ACCOUNTING
INFORMATION SYSTEMS EXAM
COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
WITH RATIONALES (VERIFIED
ANSWERS) |ALREADY GRADED
A+2024
a financial transaction - ANSWERS>>>The primary input to the transaction processing system is
FRS provides information to external users; the MRS provides information to internal users. -
ANSWERS>>>The major difference between the financial reporting system (FRS) and the
management reporting system (MRS) is the
whether the transactions are financial or nonfinancial that directly affect the processing of financial
transactions - ANSWERS>>>The author distinguishes between the accounting information system
and the management information system based on
the purchase of computer - ANSWERS>>>An example of a financial transactions is
log of customer calls - ANSWERS>>>An example of a nonfinancial transaction is
the conversion cycle - ANSWERS>>>The transaction processing system includes which of the
following
the production of useful information - ANSWERS>>>The goal of data processing is
tax authorities - ANSWERS>>>Which of the following is an external end user?
internal auditing - ANSWERS>>>An appraisal function housed within the organization that performs
a wide range of services for management is
constituents - ANSWERS>>>What factor conceptually distinguishes external auditing and internal
auditing?
cash disbursements - ANSWERS>>>What system is part of the expenditure cycle?
physical and financial - ANSWERS>>>Both the revenue and the expenditure cycle can be viewed as
having two parts. These key parts are
represent relationships between key elements of both manual and computer systems -
ANSWERS>>>System flowcharts do which one of the following?
oval - ANSWERS>>>Which symbol is used to represent a data source or destination of documents
and reports in a system flowchart?
Sales Order Processing - ANSWERS>>>Which accounting application is least suited to batch
processing?
there is a lag between the time when the economic event occurs, and the financial records are
updated. - ANSWERS>>>In contrast to a real-time system, in a batch processing system
processing takes place when the economic event occurs. - ANSWERS>>>In contrast to a batch
processing system, in a real-time system
block code - ANSWERS>>>The coding scheme most appropriate for a chart of accounts is
a mnemonic code - ANSWERS>>>When a firm wants its coding system to convey meaning without
reference to any other document, it would choose
missing or unrecorded documents can be identified. - ANSWERS>>>The most important advantage
of sequential coding is that
Management Reporting System (MRS) - ANSWERS>>>Li has implemented a new accounting
information system (AIS) to help him manage his construction company. Li uses the information
captured by the system to plan each project, forecasting the requirements for raw materials and the
cash flow expected. Which AIS subsystem helps Li in planning?
Variance reports - ANSWERS>>>Which information does the management reporting system (MRS)
provide?
The decision maker wastes resources analyzing outdated information. - ANSWERS>>>Useful
information has the following characteristics: relevance, timeliness, accuracy, completeness, and
summarization. What happens if the information is old?
The decision maker receives materially wrong information. - ANSWERS>>>Useful information has
the following characteristics: relevance, timeliness, accuracy, completeness, and summarization.
What happens if the information is inaccurate?
The organization needs to review its credit-granting policies. - ANSWERS>>>Which important
information does external feedback about the level of uncollected customer accounts indicate to the
management information system?
Raw material is moved into work-in process. - ANSWERS>>>What is a type of data source for the
accounting information system (AIS)?