Archives: Quiz
Accounting Chapter 16 1 Corrections are entries made to correct errors found in
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 16 General Ledger and Reporting System 16.1 Describe the information processing operations required to update the general ledger and to produce reports for internal and external users. 1) […]
Chapter 9 1 Iii Take Smaller Sample Only Only Iii
Business Statistics: Part II: Modeling with Probability – Test A Name___________________________________________________ Chapter 6: Determine and/or use an appropriate probability model. 1. A survey of investors finds that 60% use a full service brokerage firm to invest in stocks, 30% trade […]
Chapter 8 1 Plant assets can be called fixed assets, physical assets, or tangible assets.
Copyright © 2015 Pearson Education, Inc. Financial Accounting, 3e (Kemp/Waybright) Chapter 8 Long-Term and Other Assets 8.1 Questions 1) Plant assets can be called fixed assets, physical assets, or tangible assets. Answer: TRUE Diff: 1 LO: 8-1 EOC Ref: Vocabulary […]
Accounting Chapter 16 2 Inc15 Each Specific Data Item XBRL Document
16.3 Understand the implications of new IT developments, such as XBRL, and changes in the external reporting requirements, such as IFRS, for the design and operation of the general ledger and reporting system. 1) Which of the following statements is […]
Chapter 9 2 None The Above 926 Find And Interpret
9-12 Chapter 9 Confidence Intervals and Hypothesis Tests for Means 3. A large software development firm recently relocated its facilities. Top management is interested in fostering good relations with their new local community and has encouraged their professional employees to […]
Chapter 8 3 Which of the following is often rendered obsolete because of technological advancements
11) Which of the following is often rendered obsolete because of technological advancements? A) Patent B) Copyright C) Franchise D) Goodwill Answer: A Diff: 1 LO: 8-6 EOC Ref: E8-27A AACSB: Reflective Thinking (Able to understand oneself in the context […]
Accounting Chapter 15 2 Employees Save Time Well They Not Have
Copyright © 2015 Pearson Education, Inc. 3) Identify the firm below where employees’ knowledge is likely to be more valuable than the value of a company’s tangible assets. A) international airline B) law firm C) automobile manufacturer D) railroad Answer: […]
Chapter 9 1 What The Standard Deviation The Sample Proportion
Chapter 9: Sampling Distributions and Confidence Intervals for Proportions – Quiz A Name ________________________________________ 9.2.6 Find and interpret margins of error. 1. In a metal fabrication process, metal rods are produced to a specified target length of 15 feet. Suppose […]
Chapter 7 3 The formula for the quick ratio is quick assets divided by non-current assets
Copyright © 2015 Pearson Education, Inc. 14) A 135-day note issued on May 17 will mature on: A) September 28. B) September 29. C) September 30. D) October 1. Answer: B Diff: 3 LO: 7-6 EOC Ref: S7-14 AACSB: Analytical […]
Accounting Chapter 15 1 Who does the payroll system issue checks to
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 15 The Human Resources Management and Payroll Cycle 15.1 Describe the major business activities and related information processing operations performed in the human resources management (HRM)/payroll cycle. 1) […]
Chapter 8 1 This Sampling Plan Called Simple Random Sampling
8-1 Chapter 8: Surveys and Sampling – Quiz A Name___________________________ 8.3.1 Determine and analyze sampling methods; identify and understand biases. 1. The administration of a large university is interested in learning about the types of wellness programs that would interest […]
Chapter 7 2 Once an Account Receivable is written off, can a business ever collect that money
Copyright © 2015 Pearson Education, Inc. 12) Receivables of a company CANNOT be long-term assets. Answer: FALSE Diff: 1 LO: 7-4 EOC Ref: S7-6 AACSB: Reflective Thinking (Able to understand oneself in the context of society) AICPA Business: Strategic/Critical Thinking […]
Accounting Chapter 14 2 Identify one control that can be used to mitigate the threat of under-production.
Copyright © 2015 Pearson Education, Inc. 10) The expenses associated with the use of clean rooms in the production of computer hard drives are ________ costs. A) prevention B) inspection C) internal failure D) external failure Answer: A Objective: Learning […]
Chapter 7 1 The time taken to assemble a car in a certain
Chapter 7: The Normal and Other Continuous Distributions – Quiz A Name_________________________ 7.1.2 Use the 68‐95‐99.7 Rule to find probabilities and intervals of values. 1. Porcelain tile is often recommended over ceramic tile because its breaking strength tends to be […]
Chapter 7 1 The most common types of financial institution credit cards are MasterCard and Visa.
Copyright © 2015 Pearson Education, Inc. Financial Accounting, 3e (Kemp/Waybright) Chapter 7 Cash and Receivables 7.1 Questions 1) Credit sales are the most desirable form of sales. Answer: FALSE Diff: 1 LO: 7-1 EOC Ref: Vocabulary AACSB: Reflective Thinking (Able […]
Accounting Chapter 14 1 Istanbul Turkey She Places Bids Small projects The
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 14 The Production Cycle 14.1 Describe the major business activities and related information processing operations performed in the production cycle. 1) The AIS compiles and feeds information among […]
Chapter 6 3 Many states require CPAs to participate in continuing education that deals with ethics.
Copyright © 2015 Pearson Education, Inc. 4) Certified Public Accountants perform external audits of a company to confirm that the financial statements are fairly presented according to GAAP. Answer: TRUE Diff: 1 LO: 6-4 EOC Ref: S6-12 AACSB: Reflective Thinking […]
Accounting Chapter 13 2 Discuss the key decisions to be made in the expenditure cycle
Copyright © 2015 Pearson Education, Inc. 55) Ideally, inventory purchases occur in response to ________ in a JIT inventory system. A) customer demand B) optimal demand C) forecast demand D) supplier demand Answer: A Objective: Learning Objective 1 Difficulty: Moderate […]
Chapter 5 2 Each Square Was Labeled With Dollar Amount
5-12 Chapter 5 Randomness and Probability 5.3.2 Find probabilities and/or determine independence. 3. During a promotion, Christina’s department store offers a mailing “scratch a winner – discount savings.” After customers select the items they wish to purchase, they scratch their […]
Chapter 6 2 An employee believes that getting away with a fraud without being detected is unlikely
Copyright © 2015 Pearson Education, Inc. 18) If an employee receives a check from a customer, endorses it and then cashes it, this would be considered a(n): A) disbursement scheme. B) expense scheme. C) cash register scheme. D) check tampering […]
Accounting Chapter 13 1 What is a key feature of materials requirements planning
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 13 The Expenditure Cycle: Purchasing to Cash Disbursements 13.1 Explain the basic business activities and related information processing operations performed in the expenditure cycle. 1) The Gwallter Reece […]
Chapter 5 1 Use And Understand The Concepts And Definitions
10 10 10 10 10 10 20 20 20 40 40 100 Chapter 5: Randomness and Probability – Quiz A Name_____________________________________ 5.4.1 Find probabilities and/or determine independence. 1. During a promotion, Christina’s department store offers a mailing “scratch a winner […]
Chapter 6 1 Which of the following help ensure the usefulness of accounting information
Copyright © 2015 Pearson Education, Inc. Financial Accounting, 3e (Kemp/Waybright) Chapter 6 The Challenges of Accounting: Standards, Internal Control, Audits, Fraud, and Ethics 6.1 Questions 1) For inventory costing purposes, GAAP and IFRS differ in that GAAP allows the use […]
Accounting Chapter 12 1 However Such Individual Tracking Adds Complexity Maintaining information
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 12 The Revenue Cycle: Sales to Cash Collections 12.1 Describe the basic business activities and related information processing operations performed in the revenue cycle. 1) Basic segregation of […]
Chapter 4 2 Model Linear Relationship With Least Squares Regression
Quiz B 4-17 5. Comment on whether each of the following conditions for correlation / linear regression is met. a. Quantitative variable condition. Yes, both variables are quantitative. b. Linearity condition. Yes, appears straight enough. c. Outlier condition. Yes, no […]
Chapter 5 2 The choice of inventory costing method does not have an effect on net income
Copyright © 2015 Pearson Education, Inc. 2) When using the FIFO inventory method, the ending inventory has the newer costs. Answer: TRUE Diff: 1 LO: 5-3 EOC Ref: E5-21A AACSB: Reflective Thinking (Able to understand oneself in the context of […]
Accounting Chapter 12 2 Also Cash Budget Can Used Provide More
Copyright © 2015 Pearson Education, Inc. 10) Segregation of duties controls dictates that the collection and recording functions be kept separate from each other. However, the accounts receivable department needs to know when customers pay their invoices. What is a […]
Chapter 5 3 The historical gross profit percentage can be used to estimate the current period’s gross profit
Copyright © 2015 Pearson Education, Inc. 7) If Period 1 ending inventory is overstated, then: A) both cost of goods sold and net income are understated in Period 1. B) cost of goods sold is overstated and net income is […]
Accounting Chapter 11 1 Financial Audits Examine The Reliability And Integrity
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 11 Auditing Computer-Based Information Systems 11.1 Describe the nature, scope and objective of audit work, and identify the major steps in the audit process. 1) Auditing involves the […]
Chapter 5 1 A piece of artwork would probably be inventoried using the specific-identification method
Copyright © 2015 Pearson Education, Inc. Financial Accounting, 3e (Kemp/Waybright) Chapter 5 Inventory 5.1 Questions 1) Merchandise inventory represents the goods that a merchandiser has available to sell to its customers. Answer: TRUE Diff: 1 LO: 5-1 EOC Ref: Vocabulary […]
Accounting Chapter 11 2 Which statement below is incorrect regarding program modifications
Copyright © 2015 Pearson Education, Inc. 3) Which statement below is incorrect regarding program modifications? A) Only material program changes should be thoroughly tested and documented. B) During the change process, the developmental version of the program must be kept […]
Chapter 4 3 In a Balance Sheet prepared in report form, liabilities must be listed after
Copyright © 2015 Pearson Education, Inc. 4) Net income is generally referred to as the company’s “bottom line.” Answer: TRUE Diff: 1 LO: 4-6 EOC Ref: S4-11 AACSB: Reflective Thinking (Able to understand oneself in the context of society) AICPA […]
Accounting Chapter 10 2 Inc17 The Accounting Department Aglaya Telecom Records
Copyright © 2015 Pearson Education, Inc. 39) Modest Expectations Investment Services (MEIS) allows customers to manage their investments over the Internet. If customers attempt to spend more money than they have in their account, an error message is displayed. This […]
Chapter 3 2 Inc 326 Displaying And Describing Quantitative
Quiz B 3-17 . 6. Following is a time series graph for monthly closing price for the Dow Jones Industrial Average (beginning March 2003). a. Are the closing prices for the Dow Jones Average from October 2004 through December 2006 […]
Chapter 4 2 The account in which the revenue earned from the sale of merchandise is entered
Copyright © 2015 Pearson Education, Inc. 3) A journal entry that has more than one debit or more than one credit is known as a complex journal entry. Answer: FALSE Diff: 1 LO: 4-4 EOC Ref: Vocabulary AACSB: Reflective Thinking […]
Accounting Chapter 10 1 Identify and explain controls designed to ensure processing integrity.
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 10 Processing Integrity and Availability Controls 10.1 Identify and explain controls designed to ensure processing integrity. 1) The best example of an effective payroll transaction file hash total […]
Chapter 3 1 Sales Hourly Frequency Describe The Hourly Wage
Chapter 3: Displaying and Describing Quantitative Data – Quiz A Name_________________________ 3.1.1 Find summary statistics; create displays; describe distributions; determine appropriate measures. 1. Following is a histogram of salaries (in $) for a sample of U.S. marketing managers. Comment on […]
Chapter 4 1 Retailers may buy goods from the manufacturer and then sell the goods to consumers
Copyright © 2015 Pearson Education, Inc. Financial Accounting, 3e (Kemp/Waybright) Chapter 4 Accounting for a Merchandising Business 4.1 Questions 1) Wholesalers purchase large quantities of product from manufacturers and then sell the product to retailers. Answer: TRUE Diff: 1 LO: […]
Accounting Chapter 9 1 Generally Accepted Privacy Principle SA Management b Notice c Choice
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 9 Confidentiality and Privacy Controls 9.1 Identify and explain controls designed to protect the confidentiality of sensitive corporate information. 1) Identify the type of information below that is […]
Chapter 3 3 Revenue accounts are closed by crediting them and debiting Retained Earnings
Copyright © 2015 Pearson Education, Inc. 37) It is possible to determine the net income or loss for the period by: A) taking adjusted trial balance amounts and subtracting expenses from revenues. B) looking at the bottom line on the […]
Accounting Chapter 8 1 Explain how information security affects information systems reliability.
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 8 Controls for Information Security 8.1 Explain how information security affects information systems reliability. 1) The Trust Services Framework reliability principle that states that users must be able […]
Chapter 2 2 Describing Categorical Data Quiz Multiple Choice
2-18 Chapter 2 Displaying and Describing Categorical Data Grocery stores serving less wealthy neighborhoods: Months Profit Months Loss Total % months profit Grocery A 2 2 4 50.0% Grocery B 1 1 2 50.0% What can be assumed about the […]
Chapter 3 2 The adjusted trial balance is prepared before the adjusting entries are completed and posted
Copyright © 2015 Pearson Education, Inc. 48) A company started the year with no supplies. During this year they bought $200 worth of supplies on account and later paid $150 of this debt. If there were $40 supplies left at […]
Accounting Chapter 7 2 How is expected loss calculated when performing risk assessment
Copyright © 2015 Pearson Education, Inc. 7.6 Explain how to assess and respond to risk using the Enterprise Risk Management (ERM) model. 1) ________ is not a risk responses identified in the COSO Enterprise Risk Management Framework. A) Acceptance B) […]
Chapter 1 2 Comment Cards Are Used Get Feedback The
Quiz D 1-13 1.1.1 Identify various aspects of studies and experiments and/or classify variables. 4. Consumer Reports Health routinely compares drugs in terms of effectiveness and safety. In summer 2008 they reviewed drugs used to treat arthritis. Among the information […]
Chapter 3 1 Recording office supplies as an asset after paying for them would be considered a deferral
Copyright © 2015 Pearson Education, Inc. Financial Accounting, 3e (Kemp/Waybright) Chapter 3 Adjusting and Closing Entries 3.1 Questions 1) Under accrual accounting, the most important GAAP concepts to remember are the recognition principle for expenses and the matching principle for […]
Accounting Chapter 7 1 Inc9 Identify The Statement Below That Not
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 7 Control and Accounting Information Systems 7.1 Explain basic control concepts and explain why computer control and security are important. 1) Why are threats to accounting information systems […]
Chapter 1 1 The Human Resources Department Large Corporation Maintains
Chapter 1: Data and Decisions– Quiz A Name_________________________ 1.1.1 Identify various aspects of studies and experiments and/or classify variables. 1. Viamedia, the cable industry’s leading independent cable rep firm and provider of online advertising services, sponsored an online survey in […]
Chapter 2 2 A company has a ten million dollar credit balance in the payable accounts
Copyright © 2015 Pearson Education, Inc. 29) An investment of cash in a business: A) represents an obligation of the business. B) decreases Stockholders’ Equity. C) increases cash. D) appears in a liability account. Answer: C Diff: 1 LO: 2-2 […]
Accounting Chapter 6 1 Consequently Makari Provided The Password John The
Copyright © 2015 Pearson Education, Inc. Accounting Information Systems, 13e (Romney/Steinbart) Chapter 6 Computer Fraud and Abuse Techniques 6.1 Compare and contrast computer attack and abuse tactics. 1) ________ consists of the unauthorized copying of company data. A) Phishing B) […]