Chapter 1 Significance of Accounting Information Systems and the Accountant’s Role MULTIPLE CHOICE QUESTIONS 1. Which of the following is not accounting information? A. Total direct/indirect labor hours B. Delivery equipment cost C. Computer training schedule D. Next year’s sales budget C 2. In what terms can accounting information be expressed? A. Units, percentages, and money B. Money, ratios, and text C. Money, percentages, and text D. Units, percentages, and text A 3. Which of the following statements does not apply to accounting information? A. Accounting information meets the legitimate needs of external users. B. Accounting information is generated by only external activities. C. Accounting information communicates among parties transacting business with one another. D. Accounting information provides a basis for informed management decision making. B 4. Which of the following groups requires accounting data with the broadest perspective? A. Entry-level managers B. First-level managers C. Middle-level managers D. Upper-level managers D 5. Which of the following statements is not true? A. An accounting system deals primarily with economic events that affect an organization’s accounting equation. B. Some accounting events may mature into accounting transactions while others may not. C. Only accounting events that have matured into accounting transactions must be captured and reported by the accounting system. Accounting Information Systems A Practitioner Emphasis, 7e Cynthia Heagy Constance Lehmann (Test Bank All Chapters, 100% Original Verified, A+ Grade) D. Most accounting transacti