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Full download Accounting Information Systems Basic Concepts and Current Issues 4th Edition Hurt Test Bank all chapter 2024 pdf
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Chapter 08
REA Modeling
C. Both focus on a very small, well-defined group of important business events and often
process data in batches
D. Neither focus on a very small, well-defined group of important business events nor often
process data in batches
A. Highly aggregated.
8-1
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McGraw-Hill Education.
3. In view-driven accounting information systems, internal controls are often:
A. Protective.
B. Expensive.
4. In contrast with view-driven AIS, event-driven accounting information systems focus on:
A. Business processes.
B. Journal entries.
C. Ledger accounts.
D. All of these.
5. Data in a view-driven AIS are often stored in multiple places, such as:
A. Journals.
B. Ledgers.
6. In a view-driven AIS, where you would expect to see stored data about product quality?
A. In the journal
B. In the ledger
8-2
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7. Which of the following pieces of data would you expect to find in an event-driven AIS, but not
in a view-driven AIS?
A. Accounts to debit
B. Accounts to credit
D. All of these
8. View-driven AIS are designed to support a particular way of looking at the data they contain.
Which of the following is not a view commonly supported by a view-driven AIS?
A. Balance sheet
B. Income statement
9. A company wants to prepare a schedule of assets that separates current and long-term
assets, as well as reports relevant dollar amounts. Which type of AIS could the company use
to prepare such a schedule?
A. View-driven
B. Event-driven
8-3
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McGraw-Hill Education.
10. View-driven accounting information systems often foster the idea of stovepiping in
organizations. Which of the following is an example of stovepiping?
C. Both all department heads meet to discuss company strategy and a sales representative
quotes a price that is less than cost are examples of stovepiping.
D. Neither all department heads meet to discuss company strategy nor a sales representative
quotes a price that is less than cost is an example of stovepiping.
11. An accounting information system captures data that are eventually grouped by account, and
then used to prepare general purpose financial statements. The system could be described
as:
A. A view-driven AIS.
B. An event-driven AIS.
12. Information technology controls, such as a password rotation policy, can be used in:
A. View-driven AIS.
B. Event-driven AIS.
8-4
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13. Which of the following statements about view- and event-driven AIS is most true?
C. Both the two are differentiated by the presence or absence of information technology and
the two are differentiated by the use of paper or electronic documents are true.
D. Neither the two are differentiated by the presence or absence of information technology
nor the two are differentiated by the use of paper or electronic documents is true.
14. View-driven AIS have been criticized because their data are often outdated. Which of the
following journal entries for the purchase of inventory best illustrates that criticism?
15. A journal entry in a view-driven AIS debits equipment for $10,000, credits cash for $2,000 and
credits notes payable for $8,000. Which of the following pieces of data would you expect to
see in an event-driven AIS but not in the view-driven AIS?
C. Both the transaction date and the expected life of the equipment
D. Neither the transaction date nor the expected life of the equipment
8-5
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McGraw-Hill Education.
16. The accounting cycle comprises ten steps. In which step would you expect to find a
difference between view-driven and event-driven AIS?
A. Analyze transactions.
17. Consider the following REA diagram as you respond to the question:
A. Resource
B. Event
C. Internal agent
D. External agent
8-6
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McGraw-Hill Education.
18. Consider the following REA diagram as you respond to the question:
A. Resource
B. Event
C. Internal agent
D. External agent
8-7
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McGraw-Hill Education.
19. Consider the following REA diagram as you respond to the question:
8-8
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20. Consider the following REA diagram as you respond to the question:
A. Cardinalities
C. Internal controls
D. Relationship descriptors
8-9
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McGraw-Hill Education.
21. Consider the following REA diagram as you respond to the question:
A. One
B. Two
C. Three
D. Four
8-10
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McGraw-Hill Education.
22. Consider the following REA diagram as you respond to the question:
A. Vendor
B. Purchasing agent
8-11
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23. Consider the following REA diagram as you respond to the question:
A. Vendor
B. Purchasing agent
8-12
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McGraw-Hill Education.
24. Consider the following REA diagram as you respond to the question:
Which of the following statements about the REA model is least true?
D. Purchasing agents and vendors have no relationship outside the context of a "purchase
supplies" transaction.
8-13
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25. Consider the following short case as you respond to the next nine questions:
ABC Consulting's employees include management, consultants and office staff. The company
accepts engagements related to internal control design and evaluation, as well as enterprise
risk management plans. A customer can purchase the two services independently of one
another. The office staff bills clients on a monthly basis with terms of 2/10, n/30. All
consulting clients must sign a contract, which is also signed by an ABC manager. One
member of ABC's management team assigns at least one consultant to work with the
customer until the engagement is complete. Consultants can be assigned to multiple
engagements simultaneously, but every consultant must always be working on at least one
engagement. Each client may have only one contract with ABC at a time.
In a REA model of the case, how many boxes would you expect to see in the second column?
A. One
B. Two
C. Three or four
8-14
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McGraw-Hill Education.
26. Consider the following short case as you respond to the next nine questions:
ABC Consulting's employees include management, consultants and office staff. The company
accepts engagements related to internal control design and evaluation, as well as enterprise
risk management plans. A customer can purchase the two services independently of one
another. The office staff bills clients on a monthly basis with terms of 2/10, n/30. All
consulting clients must sign a contract, which is also signed by an ABC manager. One
member of ABC's management team assigns at least one consultant to work with the
customer until the engagement is complete. Consultants can be assigned to multiple
engagements simultaneously, but every consultant must always be working on at least one
engagement. Each client may have only one contract with ABC at a time.
In a REA model of the case, events would include:
A. Sign contract
B. Assign employees
C. Bill customer
D. All of these
8-15
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McGraw-Hill Education.
27. Consider the following short case as you respond to the next nine questions:
ABC Consulting's employees include management, consultants and office staff. The company
accepts engagements related to internal control design and evaluation, as well as enterprise
risk management plans. A customer can purchase the two services independently of one
another. The office staff bills clients on a monthly basis with terms of 2/10, n/30. All
consulting clients must sign a contract, which is also signed by an ABC manager. One
member of ABC's management team assigns at least one consultant to work with the
customer until the engagement is complete. Consultants can be assigned to multiple
engagements simultaneously, but every consultant must always be working on at least one
engagement. Each client may have only one contract with ABC at a time.
How many agents would be depicted in the rightmost column of a REA model of the case?
A. One
B. Two
C. Three
8-16
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McGraw-Hill Education.
28. Consider the following short case as you respond to the next nine questions:
ABC Consulting's employees include management, consultants and office staff. The company
accepts engagements related to internal control design and evaluation, as well as enterprise
risk management plans. A customer can purchase the two services independently of one
another. The office staff bills clients on a monthly basis with terms of 2/10, n/30. All
consulting clients must sign a contract, which is also signed by an ABC manager. One
member of ABC's management team assigns at least one consultant to work with the
customer until the engagement is complete. Consultants can be assigned to multiple
engagements simultaneously, but every consultant must always be working on at least one
engagement. Each client may have only one contract with ABC at a time.
A REA model of the case would include ___ resources.
A. Zero
B. One or two
C. Three or four
8-17
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McGraw-Hill Education.
29. Consider the following short case as you respond to the next nine questions:
ABC Consulting's employees include management, consultants and office staff. The company
accepts engagements related to internal control design and evaluation, as well as enterprise
risk management plans. A customer can purchase the two services independently of one
another. The office staff bills clients on a monthly basis with terms of 2/10, n/30. All
consulting clients must sign a contract, which is also signed by an ABC manager. One
member of ABC's management team assigns at least one consultant to work with the
customer until the engagement is complete. Consultants can be assigned to multiple
engagements simultaneously, but every consultant must always be working on at least one
engagement. Each client may have only one contract with ABC at a time.
The smallest possible number of internal agents in the third column of a REA model of the
case is:
A. One
B. Two
C. Three
D. None. Internal agents do not appear in the third column of a REA model.
8-18
Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
30. Consider the following short case as you respond to the next nine questions:
ABC Consulting's employees include management, consultants and office staff. The company
accepts engagements related to internal control design and evaluation, as well as enterprise
risk management plans. A customer can purchase the two services independently of one
another. The office staff bills clients on a monthly basis with terms of 2/10, n/30. All
consulting clients must sign a contract, which is also signed by an ABC manager. One
member of ABC's management team assigns at least one consultant to work with the
customer until the engagement is complete. Consultants can be assigned to multiple
engagements simultaneously, but every consultant must always be working on at least one
engagement. Each client may have only one contract with ABC at a time.
How many external agents would be depicted in the first column of a REA model of the
case?
A. Zero
B. One
C. Two
D. Three
8-19
Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
31. Consider the following short case as you respond to the next nine questions:
ABC Consulting's employees include management, consultants and office staff. The company
accepts engagements related to internal control design and evaluation, as well as enterprise
risk management plans. A customer can purchase the two services independently of one
another. The office staff bills clients on a monthly basis with terms of 2/10, n/30. All
consulting clients must sign a contract, which is also signed by an ABC manager. One
member of ABC's management team assigns at least one consultant to work with the
customer until the engagement is complete. Consultants can be assigned to multiple
engagements simultaneously, but every consultant must always be working on at least one
engagement. Each client may have only one contract with ABC at a time.
In a REA model of the case, the cardinalities between the "assign employees" event and the
agent "employees" would be:
D. None of these
8-20
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XIII
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