CHAPTER 1 ACCOUNTING INFORMATION SYSTEMS: AN OVERVIEW LEARNING OBJECTIVES 1. Understand the related concepts of transaction cycles and internal control structure. 2. Describe the organizational structure of the information system function in organizations. 3. Discuss applications of information technology in organizations. 4. Characterize the development of information systems. TRUE/FALSE QUESTIONS 1. A system is a collection of resources related such that certain objectives can be achieved. (easy, page 1, true) 2. Accounting information systems are designed to gather and utilize information which may cost more to provide than it is worth to the user. (moderate, page 3, false) 3. Examples of the information provided by a financial information system are cash flow summaries and payment information. (moderate, page 5, true) 4. Procurement and firm infrastructure are examples of primary business processes. (difficult, page 6, false) 5. Good documentation means that records should be maintained by all parties involved in a transaction. (easy, page 8, true) 6. Some organizations that use computers to process transactional data have an information system function. (moderate, page 10, false) 7. The operations function allows specialization in areas such as operating systems and software and communications technology. (difficult, page, 12, false) 8. Personal computers give end users their own processing power. (easy, page 14, true) 9. Most batch processing environments are JIT environments. (moderate, page 16, false)