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MIS Information System in Financial and Accounting System MCQ: This section contains the Multiple-Choice Questions & Answers on Information System in Financial and Accounting System with explanations.

questions

Title
An organization's financial structure is a ___ and has a great impact on its stable development and long life

An organization's financial structure is a ___ and has a great impact on its stable development and long life.

  1. Small or large
  2. Unit
  3. Business
  4. All of the mentioned above
discuss
A financial information system involves the ___ of financial and accounting data

A financial information system involves the ___ of financial and accounting data.

  1. Collection, storage, and processing
  2. System maintenance
  3. System testing
  4. None of the mentioned above
discuss
A computer-based method for ___ accounting activity in conjunction with information technology resources

A computer-based method for ___ accounting activity in conjunction with information technology resources.

  1. Tracking
  2. Maintenance
  3. Testing
  4. All of the mentioned above
discuss
A Financial Information System combines traditional accounting practices, with modern information technology resources

A Financial Information System combines traditional accounting practices, with modern information technology resources.

  1. True
  2. False
discuss
The role of a Financial Information System has now shifted from recording the transactions to providing relevant information in ____

The role of a Financial Information System has now shifted from recording the transactions to providing relevant information in ____.

  1. System enhancement
  2. System monitoring
  3. Decision-making
  4. All of the mentioned above
discuss
A financial information system contains various elements imperative in the ____

A financial information system contains various elements imperative in the ____.

  1. System enhancement
  2. System development
  3. Accounting cycle
  4. None of the mentioned above
discuss
An accounting information system must have an organized ___ structure to keep information in structured manner

An accounting information system must have an organized ___ structure to keep information in structured manner.

  1. Database
  2. Application
  3. Software
  4. All of the mentioned above
discuss
A financial information system does not have numerous fields to input data as well as to edit previously stored data

A financial information system does not have numerous fields to input data as well as to edit previously stored data.

  1. True
  2. False
discuss
In an organization, ___ offers the information required to serve as an efficient and effective decision-making tool

In an organization, ___ offers the information required to serve as an efficient and effective decision-making tool.

  1. Data management
  2. Information management
  3. Processing management
  4. All of the mentioned above
discuss
An automated information system’s objective is to frame ___ and changing business strategies and their execution by top executives in the company

An automated information system’s objective is to frame ___ and changing business strategies and their execution by top executives in the company.

  1. Strategic decision
  2. Strategic planning
  3. Strategic maintenance
  4. None of the mentioned above
discuss
A financial and accounting MIS is an automated system that ___ all the financial and accounting-related operations using a computerized system in an organization

A financial and accounting MIS is an automated system that ___ all the financial and accounting-related operations using a computerized system in an organization.

  1. Process
  2. Enhancement
  3. Planning
  4. Maintenance
discuss
In a financial and accounting process, raw materials or parts are turned into ____

In a financial and accounting process, raw materials or parts are turned into ____.

  1. Final outcome
  2. Finished product
  3. Output
  4. Processed goods
discuss
The major functions of a financial and accounting information system are,

The major functions of a financial and accounting information system are,

  1. Integrate financial reports from different sources
  2. Comparison between historical and current financial practices
  3. Provide quick access in a summarized form to financial details
  4. All of the mentioned above
discuss
In a Financial and Accounting MIS, some of the typical subsystems include ___, ___, ___, accounting details, process control, and quality measures

In a Financial and Accounting MIS, some of the typical subsystems include ___, ___, ___, accounting details, process control, and quality measures.

  1. Design and engineering
  2. Financial and accounting planning
  3. Inventory management
  4. All of the mentioned above
discuss
The ……..is the leading provider of financial and accounting information system growth funding and technical assistance

The ……..is the leading provider of financial and accounting information system growth funding and technical assistance.

  1. World Bank
  2. State Bank of India
  3. Bank of India
  4. All of the mentioned above
discuss
An information system is a ___ for collecting data, processing the data into information, and distributing that information to users

An information system is a ___ for collecting data, processing the data into information, and distributing that information to users.

  1. Formal process
  2. Informal process
  3. Neutral process
  4. None of the mentioned above
discuss
Finance and accounting represent the specialized ____

Finance and accounting represent the specialized ____.

  1. Management function
  2. Organizational function
  3. Decision making
  4. All of the mentioned above
discuss
The accounting information system allows ___ and external users of accounting information to obtain an insight into the entire organization

The accounting information system allows ___ and external users of accounting information to obtain an insight into the entire organization.

  1. Managers
  2. Executives
  3. Administrators
  4. None of the mentioned above
discuss
The financial information system assists managers to make decisions like,

The financial information system assists managers to make decisions like,

  1. To ensure that there are sufficient funds on hand to pay for obligations
  2. To determine the bottleneck areas within the business
  3. To put excess funds to use in appropriate and reasonably liquid investments
  4. All of the mentioned above
discuss
Amongst which of the following is most suitable option as ___ controls of accounting and financial systems are critical to protecting a company's sensitive data

Amongst which of the following is most suitable option as ___ controls of accounting and financial systems are critical to protecting a company's sensitive data.

  1. Internal and external
  2. Inner and outer
  3. Input and output
  4. None of the mentioned above
discuss
total MCQs: 20

MCQs

20

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Best Answers

299

Points

5