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AIS Exam 1 Questions and Answers
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AIS Exam 1 Questions and Answers The generic structure of most accounting information systems comprises ___ elements: 5 Which of the following is an example of an AIS output? Statement of Cash Flow Sienna used a stack of sales invoices to record journal entries in the AIS. She used...

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  • August 3, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ais exam 1 questions and answers
  • the generic structure of most accounting informati
  • which of the following is an example of an ais out
  • sienna used a stack of sales invoices to record jo

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AIS Exam 1 Questions and Answers
The generic structure of most accounting information systems comprises ___ elements:
- answer 5

Which of the following is an example of an AIS output? - answer Statement 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? - answer Internal control

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

All of the following are facts about accounting information systems except: - answer
they 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: - answer
Principles of debit and credit

Segregation of duties encompasses custody, authority and ______? - answer
Recordkeeping

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

The components of an accounting information system are designed to collect ____ and
report ___: - answer Data; 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? - answer Equity

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? - answer Processes

, 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: - answer Storage

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

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

An accounting information system transforms inputs into outputs via processes such as:
- answer Journalizing 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? - answer Yes, 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? - answer Bank reconciliation, internal
control

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

With regard to the Broad Business (BB) skills included in the AICPA Core Competency
Framework, AIS has relevance to one of the following skills: - answer Critical
Thinking

The criteria for evaluating the information competency include all the following except: -
answer Reliability

AIS is an important area of study for future accountants because a well-designed AIS
can respond to many elements of the FASB conceptual framework. Which of the
following statements is most true? - answer qualitative characteristics
elements of financial stmts
objectives of financial reporting

Which of the following steps in the accounting cycle occurs first? - answer Analyze
transactions

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