WGU D217 Accounting Information System Pre-Assessment (Latest 2023 – 2024) With Verified Answers
What are two traits of useful information?
a)
... [Show More] accessibility
b) reliability
c) measurability
d) quantifiability - A & B
Businesses must pay a variety of taxes.
Match each item of information to the type of tax that requires it. Answer options may be used more than once or not at all.
a) point-of-purchase rate tables
b) total wage expense
c) total sales
1) sales tax
2) payroll tax - a) 1
b) 2
c) 1
Which events are part of the revenue cycle?
a) hiring employees, preparing payroll, and paying taxes
b) purchasing raw materials, manufacturing products, and storing finished products
c) forecasting cash needs, borrowing money from lenders, and selling stock to investors
d) taking orders from customers, shipping finished goods, and depositing payments in the bank - D
Which three actions are part of the revenue cycle?
a) requesting raw material be purchased
b) receiving and answering customer inquiries
c) recruiting sales order staff
d) approving credit sales of finished goods
e) initiating back orders for finished goods that are out of stock
f) updating accounts payable - B, D, E
In which two ways does an accounting information system (AIS) safeguard assets?
a) by preventing employees from using company devices to access the Internet
b) by requiring a correct password to be entered to access the company network
c) by restricting access to paper files, network servers, and other physical assets
d) by providing tools to alert managers when an unauthorized user attempts to use the assets - B, D
Match each function of an accounting information system with the type of improvement it provides.
a) a function that informs a supervisor when manufacturing production performance falls below standards
b) a function that checks payroll entries for mistakes that would cause overpayment or underpayment of employees
c) a function that provides up-to-the-minute information about inventory items that are low in stock
1) improves the effectiveness of the supply chain
2) improves the internal control structure
3) improves the quality and reduces the costs of products of services - a) 1
b) 2
c) 3
A patio furniture store uses its accounting information system to allow salespeople to check the inventory level of an item at the main warehouse.
How does this functionality add value to the patio furniture store? [Show Less]