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MICR is an input technology used

• on receipts and invoices that are given to customers.

• on bank cheques

• in the processing of ATM receipts.

• by many organisations to expedite the processing of accounts payable invoices.

Over time, the relationship between accounting and information systems has seen

• Gather data about the organisation’s activities

• Provide a means for business data storage and processing.

• Convert business data into useful information.

• Exercise strategic decision-making according to accounting information.

  
  

An example of an output from an accounting information system could be:

• he screen for entering transactions.

• the screen for selecting what report to produce.

• the screen that lists updated and categorised account balances

• the screen for entering file saving locations.

  
  

Data Mining is

• Business processes represent the series of discrete activities that deliver something of value to external customers

• Business processes represent the series of discrete activities that deliver something of value to both internal and external customers

• Business processes represent the series of interlocking activities that deliver something of value to internal customers

• Business processes represent the series of interlocking activities that deliver something of value to both internal and external customers

The role of the accountant has changed in recent times because

• Professional bodies have sought to redefine and reposition the accounting function.

• Computer systems have emerged to handle the classification and recording tasks traditionally associated with the accounting function.

• The accounting cycle is too complex and involved to be performed solely by the accountant.

• Knowledge workers have increasingly replaced accountants in the performance of recording and classification tasks.

Which of the following statements best indicates the difference between data and information

• information and data are the same.

• information is less useful than data.

• information is always useful whereas data is only sometimes useful.

• information is data that has been processed and converted

   

A large company that provides supplies to the defence forces has just established a new accounting system. Which of the following is an example of a factor in the external environment that would impact on the design of this system

• The specification details gained from users

• The directive from the finance director about the system’s operation capacity.

• The defence force requirement regarding e-commerce.

• The accounting standards governing large companies.

  
  

There are a few source documents that contain accounting data. An accounting clerk enters these data into an accounting program hosted in a computer. The computer displays an analysis report on screen when the accounting program has finished processing the data. In this scenario, the accounting information system consists of

• The accounting program.

• Source document and the accounting program.

• Source document, the accounting program, and the computer.

• Source document, the accounting clerk, the accounting program, and the computer.

An accounting information system is unlikely to help a firm to

• determine whether to approve a credit sale

• decide how much to purchase from suppliers

• determine the provision for bad debts

• eliminate financial fraud

As computer systems have been developed to perform the recording and classification tasks associated with business activities, the nature of accounting and the work of the accountant have also been pushed in a new direction. Increasingly, the role of the accountant is seen to be to

• Use computer programs rather than manual journals.

• Ensure that businesses invest in new software.

• Add value and provide and interpret information for an organisation.

• Outsource accounting work to bookkeepers.