Question 1

This report is a summary that lists the revenue and liabilities for a company during a particular time frame.
A)Balance sheet
B)Income Statement
C)Financial Statement
D)Statement of Cash Flows

Accepted Answer

A financial statement is a general term that can refer to various reports, including those that summarize revenue and liabilities, such as the balance sheet and income statement.

Question 2

This type of control is used to monitor and check in with your staff to ensure they are carrying out their responsibilities effectively.
A)Preliminary Control
B)Planning Control
C)Screening Control
D)Post action Control

Accepted Answer

Screening control, also known as concurrent control, is used to monitor processes and activities as they happen to ensure that standards are being met and that employees are performing their tasks correctly. This type of control allows for immediate correction or adjustment.

Question 3

The fewer controls an organization has in place, the more smoothly the organization will run.

Accepted Answer

The statement is false. Controls are necessary to ensure that an organization is operating efficiently and effectively. Without controls, there is a higher risk of errors, fraud, and other issues that can negatively impact the organization's operations and outcomes. Controls provide guidance, direction, and oversight, helping to ensure that everyone is working towards the same goals and following established policies and procedures. Therefore, having appropriate controls in place is critical to achieving smooth and successful operations.

Question 4

A preventative measure to identify potential deficiencies before they occur is known as a:
A)Preliminary (Planning) Control
B)Screening Control
C)Post Action Control
D)Real Time Control

Accepted Answer

Preliminary (Planning) Control is a proactive approach aimed at identifying and addressing potential deficiencies before they occur, ensuring that plans are set up to guide actions towards desired outcomes.

Question 5

When managers use information to influence behavior and affect operational performance through greater efficiencies and effective decision making it is known as:
A)knowledge sharing
B)leading
C)power
D)control

Accepted Answer

This is the definition of control in management. Control involves using information to monitor performance and influence behavior to ensure that operational processes are running efficiently and effectively.

Question 6

This is the only report that lists a company's assets:
A)Balance sheet
B)Income Statement
C)Financial Statement
D)Statement of Cash Flows

Accepted Answer

The balance sheet is the report that lists all the assets, liabilities, and equity of a company at a specific point in time. The income statement lists the revenues and expenses of a company over a period of time, the financial statement is a general term that can refer to any report that presents financial information, and the statement of cash flows lists the inflows and outflows of cash for a company over a period of time.

Question 7

To be successful, controls must be specific and rigid.

Accepted Answer

Successful controls need to be flexible, adaptable, and tailored to the specific needs and circumstances of the organization or situation they are designed to manage. Rigid controls can be counterproductive, as they may not allow for necessary adjustments in response to changing conditions or unforeseen events.

Question 8

According to the chapter, which of the following is NOT an information system?
A)ERP
B)DSS
C)ESS
D)MIS

Accepted Answer

The answer of According to the chapter, which of the...

Question 9

Which of the following is used to predict profits and spending for financing forecasts?
A)audit
B)budget
C)ratio analysis
D)ERP

Accepted Answer

A budget is a financial plan that outlines expected expenses and revenues. It can be used to predict profits and spending for financing forecasts.

Question 10

Which information systems help organizations with their decision-making processes?
A)ESS
B)MIS
C)ERP
D)DSS
E)None of the above

Accepted Answer

DSS (Decision Support Systems) are designed to help organizations with analytical and decision-making tasks. They provide interactive tools and models to gather and analyze data in order to support decision-making processes. ESS (Executive Support Systems) help top-level executives gather and analyze information from various sources to support strategic decision-making, while MIS (Management Information Systems) provide managers with information to support ongoing operations and tactical decision-making. ERP (Enterprise Resource Planning) systems integrate various business processes and functions, providing a centralized database and facilitating standardization and efficiency across an organization. While ERP systems may support decision-making to some extent, their primary focus is on integrating and optimizing business processes.

Question 11

_____________ help organizations run more efficiently by incorporating people, technology, and information systematically.
A)IT
B)MIS
C)DSS
D)ESS

Accepted Answer

MIS (Management Information System) is a system that helps organizations to manage their daily operations more efficiently by incorporating people, technology, and information systematically. It provides managers with timely and accurate information to make data-driven decisions. MIS includes software, hardware, and procedures that support the collection, processing, storage, and dissemination of data in an organization. It helps in planning, decision-making, and control functions of management. Therefore, option B is the best choice.

Question 12

Organizations will build a ________ to protect against entry into a particular information system or personal computer.
A)firewall
B)cache
C)lock-down browser
D)blockade

Accepted Answer

A firewall is designed to prevent unauthorized access to a network or computer system. It acts as a barrier between the internal network and external network or internet, and monitors incoming and outgoing network traffic. It helps protect against hacking attempts, malware, and other security threats. Cache is a component that stores frequently accessed data to speed up retrieval time and reduce server load. A lock-down browser is a web browser that restricts access to certain features and websites during online assessments. A blockade is a physical barrier used to prevent access to a particular area.

Question 13

The development, maintenance, and use of computer systems, software, and networks for the processing and distribution of data is:
A)IT
B)MIS
C)DSS
D)ESS

Accepted Answer

IT (Information Technology) is the field that deals with the development, use, and maintenance of computer systems, networks, and software, which are used for data processing and distribution. MIS (Management Information Systems) deals with the use of IT systems in organizations for the processing and management of information. DSS (Decision Support Systems) and ESS (Executive Support Systems) are types of software applications used in organizations to support decision-making and strategic planning, respectively. While these systems may use IT, they are not directly involved in the development, maintenance, and use of computer systems, software, and networks, which is the primary focus of IT.

Question 14

An extranet uses:
A)Mainframe technology
B)Infrared telecommunications systems
C)Telecommunications capacities of fiber optic networks
D)Internet technology for authorized users only
E)None of the above

Accepted Answer

An extranet is a controlled private network that uses internet technology to provide limited access to authorized external users, allowing them to access specific information or services. Therefore, the correct answer is D, which specifies the use of internet technology for authorized users only. A, B, and C are incorrect because they refer to different types of technology that are not necessarily used for extranets.

Question 15

________ provides a flow of information by holding data from across all departments of an organization.
A)MIS
B)ESS
C)ERP
D)DSS

Accepted Answer

ERP (Enterprise Resource Planning) systems are designed to integrate and manage data from various departments of an organization, including finance, inventory, human resources, and production. This allows for a centralized flow of information, enabling better decision-making and resource allocation. MIS (Management Information System) provides information for managers to make decisions, ESS (Executive Support System) provides executives with data needed for strategic planning, and DSS (Decision Support System) is an interactive tool for making specific decisions. While all these systems can hold data from different departments, ERP is specifically designed for this purpose.

Question 16

Gathering feedback and assessing that information is which step in the control process?
A)Planning Control
B)Screening Control
C)Real Time Control
D)Post-Action Control

Accepted Answer

Gathering feedback and assessing that information typically occurs after an action has already been taken, making it a part of post-action control.

Question 17

This report tells an organization how much revenue they have earned over a specific time period.
A)Balance sheet
B)Income Statement
C)Financial Statement
D)Statement of Cash Flows

Accepted Answer

An Income Statement is a financial statement that shows the revenue earned and expenses incurred by an organization over a specific time period, allowing for the calculation of net profit or loss. Therefore, it is the best choice for providing information on an organization's revenue.

Question 18

Another name for Planning control is:
A)Preliminary control
B)Screening control
C)Real-time control
D)Post-action control

Accepted Answer

Planning control, also known as preliminary control, involves setting goals, formulating strategies, and developing plans to achieve those goals. This control is conducted before the actual execution of plans and aims to ensure that the plans are well thought out and achievable. Other types of control, such as screening control, real-time control, and post-action control, focus on specific areas of the implementation process and are not synonymous with planning control.

Question 19

Guiding performance through company policies and procedures, carrying out regular performance appraisals, studying market conditions to regulate internal activities, and ensuring employees share in the same vision, mission and goals of the organization are all examples of:
A)knowledge sharing
B)leading
C)regulating
D)control

Accepted Answer

The answer of Guiding performance through company policies and procedures,...

Question 20

Boosting circulation by 10% from the previous month, reducing production costs by 20%, or producing a 100% error-free document are all examples of specific __________.
A)controls
B)standards
C)targets
D)objectives

Accepted Answer

The answer of Boosting circulation by 10% from the previous...

Quiz 16: Information and Operations

This report is a summary that lists the revenue and liabilities for a company during a particular time frame.

This type of control is used to monitor and check in with your staff to ensure they are carrying out their responsibilities effectively.

The fewer controls an organization has in place, the more smoothly the organization will run.

A preventative measure to identify potential deficiencies before they occur is known as a:

When managers use information to influence behavior and affect operational performance through greater efficiencies and effective decision making it is known as:

This is the only report that lists a company's assets:

To be successful, controls must be specific and rigid.

According to the chapter, which of the following is NOT an information system?

Which of the following is used to predict profits and spending for financing forecasts?

Which information systems help organizations with their decision-making processes?

_____________ help organizations run more efficiently by incorporating people, technology, and information systematically.

Organizations will build a ________ to protect against entry into a particular information system or personal computer.

The development, maintenance, and use of computer systems, software, and networks for the processing and distribution of data is:

An extranet uses:

________ provides a flow of information by holding data from across all departments of an organization.

Gathering feedback and assessing that information is which step in the control process?

This report tells an organization how much revenue they have earned over a specific time period.

Another name for Planning control is:

Guiding performance through company policies and procedures, carrying out regular performance appraisals, studying market conditions to regulate internal activities, and ensuring employees share in the same vision, mission and goals of the organization are all examples of:

Boosting circulation by 10% from the previous month, reducing production costs by 20%, or producing a 100% error-free document are all examples of specific __________.