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Information Systems and Cost Allocation Guide

The document consists of multiple-choice questions related to information systems, editing types, significance of classification, tabulation methods, cost allocation processes, budgeting features, and forecasting characteristics. Each question presents options that test knowledge on these topics. The questions cover both theoretical concepts and practical applications in business and data management.

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kossar982
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9 views2 pages

Information Systems and Cost Allocation Guide

The document consists of multiple-choice questions related to information systems, editing types, significance of classification, tabulation methods, cost allocation processes, budgeting features, and forecasting characteristics. Each question presents options that test knowledge on these topics. The questions cover both theoretical concepts and practical applications in business and data management.

Uploaded by

kossar982
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd

1. Which c.

An information system
A. is a set of interrelated components that collect or retrieve, process, store, and
distribute information
B. Information systems can not also be used to analyze problems, visualize
C. A and B D. None
2. Editing is performed at two stages and depending on that it could be of two types:

A. field editing B. centralized editing C. significant editing D. A and B

3. Which is not correct of Significance of classification

A. It is useful in the classification of the responses into meaningful categories.

B. It is helpful in tabulation C. It leads to a valid result.

D. It makes interpretation clear and meaningful.

4. It gives information about one or more groups of independent questions. This results, in one

way table, provides information of one characteristics of data.

A. Simple tabulation B. Complex tabulation C. Components of table D. All

5. There are three types of cost allocation:

A. cost allocation based on direct labor,


B. cost allocation based on machine time, and
C. cost allocation based on square footage.
D. All

6. What is the cost allocation process?

A. The cost allocation process is the process by which true costs of a product or
service are recognized. The process helps businesses understand costs and pricing.
B. is the process of assigning a cost to an object. The object to which a cost is being assigned can
be any item for which you want to measure a separate cost.

C. Depending on the type of product or service provided by a business, different types of cost
allocation may be most useful.
D. have to be split up across the appropriate areas.
7. Which one of the following is not five main steps in the cost allocation process:

A. Layout all program services or products and supporting activities

B. Find direct and indirect expenses

C. Find and utilize proper allocation methods for all indirect expenses

D. cost allocation based on direct labor,

8. The distinctive features of budgets are:

A. It is prepared, generally, a year in advance of the operations

B. Are simply a financial forecast for a future period

C. . It makes interpretation clear and meaningful.

D. None

9. A forecast has the following characteristics:

A. It may or may not be stated in monetary terms.


B. It can cover any period of time
C. The forecaster doesn’t accept responsibility for meeting the forecast results.
D. All
10. Identifying and prioritizing variances against budget

A budget:
A. Shows management’s operating plans for the coming period(s)
B. Formalizes management’s plans in quantitative terms;B.
C. Forces all levels management to think ahead, anticipate results, and take action to
remedy possible poor results,
D. All

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