Chapter 1 Accounting Information Systems: An Introduction Answer Key True / False Questions 1. Accounting and Finance is a primary activity in the value chain. Answer: FALSE AACSB: Reflective Thinking AICPA BB: Industry AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-04 Describe how business processes affect the firm’s value chain. Topic: The Value Chain and Accounting Information Systems 2. Accounting Information Systems at this date are all computerized. Answer: FALSE AACSB: Reflective Thinking AICPA BB: Industry AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-02 Distinguish between data, information and an information system. Topic: Data versus Information 3. Business value includes all those items, events and interactions that determine the financial health and well-being of the firm. Answer: TRUE AACSB: Reflective Thinking AICPA BB: Industry AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-04 Describe how business processes affect the firm’s value chain. Topic: The Value Chain and Accounting Information Systems 4. The Certified Information Technology Professional (CITP) is a professional designation for those with a broad range of technology knowledge and does not require a CPA. Answer: FALSE AACSB: Reflective Thinking AICPA BB: Industry AICPA FN: Decision Making Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-03 Distinguish the roles of accountants in providing information and explain certifications related to accounting information systems Topic: Role of Accountants in Accounting Information Systems