Tag: Strategy

Lucy Ltd increasingly makes use of the Internet as a source of information to support its decision-making and its strategy formulation.

The chief executive, Alex, however, is concerned about the company’s increasing use of information from the internet as it raises important concerns regarding the information’s?

Select ONE answer:

1. Completeness
2. Authority
3. Cost-effectiveness
4. Relevance

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct == > The major problem with the internet is uncertainty regarding whether the source of the information is a reliable one, i.e. whether it is authoritative.
3. Not correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

Alex is the information systems manager of Lucy plc.

Alex is currently constructing a system for use by Lucy plc staff that includes both a ‘knowledge base’ and an ‘inference engine’.

It appears, therefore, that Alex is constructing which one of the systems below?

Select ONE answer:

1. A transaction processing system
2. A management information system
3. An expert system
4. A relational database system

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct == > These terms are part of what is called an expert system. The knowledge base contains the expert’s set of decision-making rules, and the inference engine applies the rules to the given circumstances being analysed.
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

An information system that fails to collect information from its environment will be ignoring information about which ONE of the following?

Select ONE answer:

1. Its transactions
2. Its budgets
3. Legislation
4. Its mission

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct == > This closed system will miss or ignore all external information. Therefore, there will be no information about competitors, legislation or share price.
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

An information system that fails to collect information from its environment will be ignoring information about which ONE of the following?

Select ONE answer:

1. Its transactions
2. Competitor action
3. Its budgets
4. Its mission

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct == > This closed system will miss or ignore all external information. Therefore, there will be no information about competitors, legislation or share price.
3. Not correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.