ACC 340 Final Exam Guide-acc340dotcom
For more course tutorials visit www.acc340.com Multiple-Choice Questions 1. The process by which a financial transaction is recorded so that its flow through the system can be followed is called: a) Financial shadowing b) Managerial trace technique c) Concatenation d) Audit trail 2. Justifying expenditures for new technologies is especially difficult because: a) You do not know how many jobs will be affected b) Expenses are often recurring and are difficult to estimate c) Many benefits are intangible and are not easily known or measured d) Justifying a new technology is no different from any other capital budgeting problem
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Multiple-Choice Questions
1. The process by which a financial transaction is recorded so that its flow through the system can be followed is called:
a) Financial shadowing
b) Managerial trace technique
c) Concatenation
d) Audit trail
2. Justifying expenditures for new technologies is especially difficult because:
a) You do not know how many jobs will be affected
b) Expenses are often recurring and are difficult to estimate
c) Many benefits are intangible and are not easily known or measured
d) Justifying a new technology is no different from any other capital budgeting problem
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d) Justifying a new technology is no different from any other capital<br />
budgeting problem<br />
3. The essential steps in performing a systems study are (in order of<br />
occurrence):<br />
a) Analysis, design, implementation and initial operation, follow up<br />
b) Design, planning, follow up, analysis, and implementation<br />
c) Planning, system specification, analysis, production,<br />
implementation<br />
d) Planning, analysis, design, implementation, and follow up<br />
4. What is the first step to be performed by most organizations in their<br />
accounting cycles?<br />
a) Recording business transactions in a journal<br />
b) Preparing a trial balance<br />
c) Recording closing entries in a journal<br />
d) Preparing transaction source documents<br />
e) none of the above<br />
5. Which systems study step is normally performed first?<br />
a) Design<br />
b) Initial operation<br />
c) Follow up<br />
d) Analysis
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