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AIS Exam 1 Questions & Answers 2024/2025
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AIS Exam 1 Questions & Answers 2024/2025 The generic structure of most accounting information systems comprises ___ elements: - ANSWERS5 Which of the following is an example of an AIS output? - ANSWERSStatement of Cash Flow Sienna used a stack of sales invoices to record journal entries ...

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  • August 9, 2024
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  • 2024/2025
  • Exam (elaborations)
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AIS Exam 1 Questions & Answers
2024/2025

The generic structure of most accounting information systems comprises ___ elements: - ANSWERS5



Which of the following is an example of an AIS output? - ANSWERSStatement of Cash Flow



Sienna used a stack of sales invoices to record journal entries in the AIS. She used those entries and
others to prepare an income statement that was later reviewed by her supervisor. The supervisor's
review could best be described as which generic element of the AIS? - ANSWERSInternal control



An accounting information system is a set of interrelated: - ANSWERSActivities, documents and
technologies



All of the following are facts about accounting information systems except: - ANSWERSthey always
incorporate information technology



Accounting information systems is an important area of study for future accountants because well-
designed AIS can respond to many elements of the FASB Conceptual Framework. All of the following are
parts of the conceptual framework except: - ANSWERSPrinciples of debit and credit



Segregation of duties encompasses custody, authority and ______? - ANSWERSRecordkeeping



Which generic element of the AIS is focused on master files, transaction files and junction files? -
ANSWERSStorage



The components of an accounting information system are designed to collect ____ and report ___: -
ANSWERSData; information

, VTR Corporation's accounting information system recently reported the following information: Cost of
goods sold, $1,500. Inventory, $15,000. Unearned service fees, $3,000. Service fees earned, $8,000.
Which element of financial statements is not included in the preceding data? - ANSWERSEquity



Ethan is an accountant for a small startup business. He is trying to decide if the business should use
paper-based journals and ledgers or a spreadsheet to record transactions. He is therefore making a
decision about which generic element of the AIS? - ANSWERSProcesses



Sienna used a stack of sales invoices to record journal entries in the AIS. She used those entries and
others to prepare an income statement that was later reviewed by her supervisor. All the generic
elements of the AIS are clearly represented in Sienna's actions except: - ANSWERSStorage



Accounting information systems is an important area of study for future accountants because: -
ANSWERSAll organizations need an AIS.



The generic elements of an AIS include inputs and outputs. Which of the following statement about
them is true? - ANSWERSIf inputs are electronic; outputs could be either paper-based or electronic



An accounting information system transforms inputs into outputs via processes such as: -
ANSWERSJournalizing transactions and posting them to the ledger



Eugene is a self-employed business owner. In February 2011, he gathered together his income and
expense records for 2010. He used them, along with appropriate software, to prepare his tax return,
which he then filed with the Internal Revenue Service. Has Eugene used an accounting information
system based on the definition provided in the text? - ANSWERSYes, because all elements of the
definition are present



AIS can be linked to other areas of study in accounting by focusing on the five generic elements of the
AIS. Which of the following pairs a generic element of the AIS with a specific example from financial
accounting? - ANSWERSBank reconciliation, internal control



The generic elements of an AIS include processes and storage. Which of the following statements about
them is most true? - ANSWERSBoth require internal controls, but the specific controls may be different

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