Chapter 1—The Information System: An Accountant’s Perspective TRUE/FALSE 1. Information is a business resource. ANS: T PTS: 1 2. An information system is an example of a natural system. ANS: F PTS: 1 3. Transaction processing systems convert non-financial transactions into financial transactions. ANS: F PTS: 1 4. Information lacking reliability may still have value. ANS: F PTS: 1 5. A balance sheet prepared in conformity with GAAP is an example of discretionary reporting. ANS: F PTS: 1 6. The Management Reporting System provides the internal financial information needed to manage a business. ANS: T PTS: 1 7. Most of the inputs to the General Ledger System come from the Financial Reporting System. ANS: F PTS: 1 8. When preparing discretionary reports, organizations can choose what information to report and how to present it. ANS: T PTS: 1 9. Retrieval is the task of permanently removing obsolete or redundant records from the database. ANS: F PTS: 1 10. Systems development represents 80 to 90 percent of the total cost of a computer system. ANS: F PTS: 1 11. The database administrator is responsible for the security and integrity of the database. ANS: T PTS: 1 12. A backbone system is completely finished, tested, and ready for implementation.

No comments found.
Login to post a comment
This item has not received any review yet.
Login to review this item
No Questions / Answers added yet.
Price $45.00
Add To Cart

Buy Now
Category Testbanks
Comments 0
Rating
Sales 0

Buy Our Plan

We have

The latest updated Study Material Bundle with 100% Satisfaction guarantee

Visit Now
{{ userMessage }}
Processing