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ACC 564 Final Exam Review: Key Accounting Information Systems Concepts and Fraud Detection

A review of accounting information systems and fraud detection.

Jacob Anderson
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ACC 564 Final Exam Review: Key Accounting Information Systems Conceptsand Fraud DetectionACC 564 FINAL EXAM PART 1 TWO VERSIONS POSTED 100 QUESTIONSQuestion 1The transaction cycle that includes the events of hiring employees and paying them isknown astheAnswerrevenue cycle.expenditure cycle.human resources cycle.financing cycle.Question 2Data 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. Ifinformation is free from error or bias and accurately represents the events or activities of theorganization, it is representative of the characteristic ofAnswerrelevancy.timeliness.understandability.reliability.Question 3The primary objective of accounting is toAnswerimplement strong internal controls.provide useful information to decision makers.prepare financial statements.ensure the profitability of an organizationQuestion 4The business owners obtain financing from outside investors, which results in an inflow of cashinto the company. This transaction is considered to be part of which cycle?Answerthe revenue cyclethe payroll cyclethe production cyclethe financing cycleQuestion 5

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Document Details

University
Strayer University
Course
ACC 564
Subject
Accounting

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