AIS Chapter 2 Exam Questions with All Correct Answers

AIS Chapter 2 Exam Questions with All Correct Answers Identify the statement below that is not true with regards to the accounts receivable subsidiary ledger. Question options: A) Every credit sale is entered individually into the subsidiary ledger. B) Debits and credits in the subsidiary ledger must always equal. C) The subsidiary ledgers play an important role in maintaining the accuracy of the data stored in the AIS. D) The total of the subsidiary ledgers must equal the control account. - Answer-B Which of the following is not usually a consideration when designing a coding system? Question options: A) government coding regulations B) standardization C) future expansion needs D) ease of reporting - Answer-A Which of the following is an example of source data automation? Question options: A) a utility bill B) POS (point-of-sale) scanners in retail stores C) a bill of lading D) a subsidiary ledger - Answer-B Pre-numbering of source documents helps to verify that Question options: A) documents have been used in order. B) company policies were followed. C) all transactions have been recorded. D) source data automation was used to capture data. - Answer-C