ch1 Student: ___________________________________________________________________________ 1. An accounting information system is a set of interrelated: A. Activities and documents only. B. Activities and technologies only. C. Documents and technologies only. D. Activities, documents and technologies. 2. The components of an accounting information system are designed to collect ___ and report ___. A. Data, information B. Data, data C. Information, information D. Information, data 3. An accounting information system is defined by the text as a set of three interrelated elements. Which of the following choices best gives an example of each element? A. Buying inventory, selling inventory, balance sheet B. Buying inventory, sales invoice, general ledger software C. Selling inventory, sales invoice, balance sheet D. Selling inventory, writing a check, general ledger software 4. An accounting information system transforms inputs into outputs via processes such as: A. Journalizing transactions and posting them to the ledger B. Identifying the elements of the FASB Conceptual Framework C. Always utilizing information technology D. Recognizing and adapting to the cost-benefit constraint 5. Which of the following best fits the definition of an accounting information system explained in the text? A. A checkbook register B. A publicly-traded corporation’s financial statements C. Processed source documents leading to the general purpose financial statements D. An Excel spreadsheet of financial statement ratios