4. Transaction cycles files directly feed information to

A) General Ledger & Financial reporting

B) Financial statements

C) Financing cycle

D) All of the above

5. Which of the following statements below shows the contrast between data and information?

A) Data is the output of AIS.

B) Information is the primary output of AIS.

C) Data is more useful in decision-making than information.

D) Data and information are the same.

6. An accounting information system in part consists of

A) People, hardware and programs.

B) Information, programs and computers.

C) People, procedures, data, software and information technology infrastructure.

D) Internal controls and accounting records

7. Which of the following is a primary activity in the value chain?

A) Infrastructure

B) Technology

C) Purchasing

D) Marketing and sales

8. What is the major difference between the revenue and the expenditure cycle?

A) The revenue cycle includes marketing activities; the expenditure cycle does not.

B) In the revenue cycle, cash is received; in the expenditure cycle cash is paid out.

C) The expenditure cycle includes paying employees.

D) The revenue cycle includes the activity of obtaining funds from investors.

9. Which of the following is not a transaction cycle?

A) Revenue

B) Expenditure

C) Human resources

D) General ledger& reporting

10. Which of the following statements is false?

A) Retail stores do not have a production cycle.

B) Financial institutions have installment-loan cycles.

C) A service company does not have an inventory system.

D) Every organization should implement every transaction c