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AIS Chapter 8 Questions and Answers
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AIS Chapter 8 Questions and Answers The coding scheme most appropriate for a chart of accounts is a. sequential code b. block code c. group code d. mnemonic code B A common use for sequential coding is a. creating the chart of accounts b. identifying inventory items c. identif...

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  • August 4, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ais chapter 8 questions and answers
  • the coding scheme most appropriate for a chart of
  • a common use for sequential coding is a creating
  • the most important advantage of sequential coding

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  • Ais

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AIS Chapter 8 Questions and Answers
The coding scheme most appropriate for a chart of accounts is - answer a.
sequential code
b. block code
c. group code
d. mnemonic code



B

A common use for sequential coding is - answer a. creating the chart of accounts
b. identifying inventory items
c. identifying documents
d. identifying fixed assets



C

The most important advantage of sequential coding is that - answer a. missing or
unrecorded documents can be identified
b. the code itself lacks informational content
c. items cannot be inserted
d. deletions affect the sequence



A

When a firm wants its coding system to convey meaning without reference to any other
document, it would choose - answer a. an alphabetic code
b. a mnemonic code
c. a group code
d. a block code



B

The most important advantage of an alphabetic code is that - answer a. meaning is
readily conveyed to users
b. sorting is simplified

, c. the capacity to represent items is increased
d. missing documents can be identified



C

Entries into the General Ledger System (GLS) can be made using information from -
answer a. the general journal
b. a journal voucher which represents a summary of similar transactions
c. a journal voucher which represents a single, unusual transaction
d. all of the above



D

Which statement is not correct? The general ledger master file - answer a. is based
on the firm's chart of account
b. contains a record for control accounts
c. is an output of the Financial Reporting System (FRS)
d. supplies information for management decision making



C

What type of data is found in the general ledger master file? - answer a. a
chronological record of all transactions
b. the balance of each account in the chart of accounts
c. budget records for each account in the chart of accounts
d. subsidiary details supporting a control account



B

Which report is not an output of the Financial Reporting System (FRS)? - answer a.
variance analysis report
b. statement of cash flows
c. tax return
d. comparative balance sheet



A

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