Accounting Information Systems, 10e (Bodnar/Hopwood) Chapter 1 Accounting Information Systems: An Overview 1) A system is a collection of related resources designed to help a company achieve specified objectives. Answer: TRUE Diff: 1 Page Ref: 1 2) Accounting information systems are designed to gather and utilize information which may cost more to provide than it is worth to the user. Answer: FALSE Diff: 2 Page Ref: 3 3) The basic goal of accounting information systems is to convert financial data into information. Answer: TRUE Diff: 1 Page Ref: 1 4) Examples of the information provided by a financial information system are cash flow summaries and payment information. Answer: TRUE Diff: 2 Page Ref: 4 5) All data processed and information stored in an accounting information system are mandatory for financial reporting purposes. Answer: FALSE Diff: 2 Page Ref: 3 6) A typical CRM contains one common database in which all departments with customer contact can access and update. Answer: TRUE Diff: 1 Page Ref: 4 7) A typical CRM contains one database for each department which has customer contact. Answer: FALSE Diff: 1 Page Ref: 4 8) An extended enterprise brings suppliers and customers together in order to meet customer demand while minimizing supplier costs. Answer: FALSE Diff: 1 Page Ref: 4 9) Procurement and firm infrastructure are examples of primary business processes. Answer: FALSE Diff: 3 Page Ref: 9