1. According to Deloitte, which is the main reason why firms choose to outsource?

   		Reduce Costs
   		Drive broader transformational change
   		Better manage business environment
   		Gain Access to intellectual capital

1. Which of the following are the fundamental elements of accounting embedded in automated AISs?

   		Journals
   		Ledgers
   		Financial Statements
   		All the above

QUESTION 3

1. ________ are source documents affecting both the sales and purchasing processes.

   		Debit/Credit Memoranda
   		Shipping Notices
   		Packing Slips
   		All the above

QUESTION 4

1. Liquidity and bankruptcy problems results from:

   		Inadequate cash flow
   		Insufficient income
   		Disloyal customers
   		Inefficient accounting systems

QUESTION 5

1. Only a few of the inputs and outputs related to business process are now electronic.

   True

   False

QUESTION 6

1. Which of the following lists all checks issued for a particular period?

   		Check Register
   		Check Report
   		Discrepancy Report
   		Cash Requirements Forecast

QUESTION 7

1. Good managerial reports should also contain ______.

   		Dates
   		Locations
   		Employee IDs
   		All the above

QUESTION 8

1. AIS depend on _______ to record, classify, store, and retrieve financial data.

   		Code
   		People
   		Computers
   		Intranets

QUESTION 9

1. The accounts payable system matches which of the following source documents before remitting payment to the vendor?

   		The Receiving Report
   		Shipping Notice
   		Remittance Advice
   		Purchase Requisition

QUESTION 10

1. Characteristics of good output reports include:

   		Useful
   		Convenient format
   		Consistent
   		All the above