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Insert c. Methods of data processing d. Limitations 7. Timely information makes a just-in-time manufacturing approach possible, as it requires constant, accurate, up-to-date information about raw materials inventories and their locations. Improving the quality and reducing the costs of products and services b. Improving efficiency Sharing knowledge d. Improving the efficiency and effectiveness of its supply chain 8. Facts that are collected, recorded, stored, and processed by an information system. Data b. Information c. Business process d. None of the above 9. All of the following are correct about MIS as a system, except: captures data about an organization b. stores and maintains the data c. provides meaningful information for management d. None of the above 10. All of the following are examples of qualitative characteristics under faithful representation, except: a. aggregates, summarizes, and organizes data . produces information that helps monitor and control business processes c. Enterprise resource planning system (ERP), systems integrate all aspects of a firm's business processes d. None of the aboveBlissful day, Future accountants! Good work! You successfully reached the half period of our RICH Learning journey! Let us assess your acquired knowledge for this semester through this set of questions. In line with this, the said assessment will enable you to be more familiar with Accounting Information Systems in which you should justify your selected answers in order to measure your usage of business jargons and help you improve your reasoning skills. Let's go and learn! Instructions: Read and analyze each statement carefully. Select the best answer then provide a brief yet rational explanation for your response. Use pencil in shading the letter of your choice and use black ballpen in writing down your justification on the space provided. 1. Accountants perform audits of business organizations for various reasons, which typically involve the Accounting Information System. a. Accountants as system designers b. Accountants as information technologist c. Accountants as information accountants d. Accountants as system auditors 2. The financial transactions that enter the information systems from either internal or external sources. a. Data collection b. Database management c. Data processing d. Data sources 3. Use to record nonrecurring, infrequent, and dissimilar transactions. a. Register b. General journals c. Ledgers d. None of the above 4. This approach can be used to represent whole classes of items by restricting each class to specific range within the coding schemes. a. Sequential codes b. Block codes c. Group codes d. Alphabetic codes 5. Its issue is that people desire to be in full control of what and how much information about themselves is available to others, and to whom it is available. a. Privacy b. Security c. Ownership of property d. Artificial intelligence 6. Internal controls should achieve the four broad objectives regardless of the data processing method. a. Management responsibility b. Reasonable assurance Accounting Information System Week 9 1 13 Page