ACC564 Final Exam Complete Solution PART 1 TWO VERSIONS 100 QUESTIONS

Question: #1037

From the first and second E-actvities, analyze the keys ways in which Intel and Microsoft capitalized on and reaped substantial first- mover advantages in pioneering new technologies. Provide a rational to support your response.

From the first and second e-Activities, compare Intel’s and Microsoft’s Strategies in terms of their ability to profit from innovation. Next, analyze the manner in which shifts in new technologies revolutionized the structure of the industry, increasing profitability and growth global expansion. Provide a rationale to support your response.

Solution: #1041

ACC564 Final Exam Complete Solution PART 1 TWO VERSIONS (100 QUESTIONS)

Question 1
The transaction cycle that includes the events of hiring employees and paying them is known as the
Answer
revenue cycle.
expenditure cycle.
human resources cycle.
financing cycle.
Question 2
Data must be converted into information to be considered useful and meaningful for decision-making. There are six characteristics that make information both useful and meaningful. If information is free from error or bias and accurately represents the events or activities of the organization, it is representative of the characteristic of
Answer
relevancy.
timeliness.
understandability.
reliability.
Question 3
The primary objective of accounting is to
Answer
implement strong internal controls.
provide useful information to decision makers.
prepare financial statements.
ensure the profitability of an organization
Question 4
The business owners obtain financing from outside investors, which results in an inflow of cash into the company. This transaction is considered to be part of which cycle?
Answer
the revenue cycle
the payroll cycle
the production cycle
the financing cycle
Question 5
Information that is free from error or bias and accurately represents the events or activities of the organization is
Answer
relevant.
reliable.
verifiable.
timely
Question 6
Hector Sanchez works in the accounting department of a multinational manufacturing company. His job includes updating accounts receivable based on sales orders and remittance advices. His responsibilities are part of the company's
Answer
revenue cycle.
expenditure cycle.
financing cycle.
production cycle
Question 7
An audit trail
Answer
provides the means to check the accuracy and validity of ledger postings.
begins with the general journal.
is automatically created in every computer-based information system.
is a summary of recorded transactions
Question 8
What usually initiates data input into a system?
Answer
The transaction system automatically checks each hour to see if any new data is available for input and processing.
The performance of some business activity generally serves as the trigger for data input.
A general ledger program is queried to produce a trial balance at the end of an accounting period.
Data is only input when a source document is submitted to the accounting department
Question 9
The general ledger account that corresponds to a subsidiary ledger account is known as a
Answer
dependent account.
attribute account.
entity account.
control account.
Question 10
The efficiency of recording numerous business transactions can be best improved by the use of
Answer
prenumbered source documents.
specialized journals.
posting references.
subsidiary ledgers
Question 11
Chas Mulligan has been hired by Yardley Security as an assistant to the internal auditor. He has been asked to document the existing accounting information system, and focus on the activities and flow of data between activities. He decides to begin with a summary description of the sources and uses of data in the organization and how they are processed by the system. The documentation tool that he should employ for this purpose is a
Answer
data flow diagram.
document flowchart.
system flowchart.
program flowchart.
Question 12
In general, a data destination will be shown by
Answer
an arrow pointing away.
an arrow pointing in.
arrows pointing both ways.
no arrows, only two horizontal lines.
Question 13
A data flow diagram
Answer
is a graphical description of the source and destination of data that shows how data flow within an organization.
is a graphical description of the flow of documents and information ...