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AIS Exam 2 Study Guide Questions and Answers
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AIS Exam 2 Study Guide Questions and Answers Requires some memorization a. flowchart b. narrative c. both ? Is more helpful with complex systems a. flowchart b. narrative c. both ? Shows all the documents and what happens to them a. flowchart b. narrative c. both a ...

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  • August 4, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • which
  • ais exam 2 study guide questions and answers
  • sales returns are the opposite of sales for each
  • which of the following is not true about the accou
  • why do you selectively endorse a check a to make

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AIS Exam 2 Study Guide Questions and
Answers
Requires some memorization
a. flowchart
b. narrative
c. both - answer ?

Is more helpful with complex systems
a. flowchart
b. narrative
c. both - answer ?

Shows all the documents and what happens to them
a. flowchart
b. narrative
c. both - answer a

Includes internal controls
a. flowchart
b. narrative
c. both - answer c

Good for training new employees
a. flowchart
b. narrative
c. both - answer b

Uses swim lanes
a. flowchart
b. narrative
c. both - answer a

More likely to drop documents
a. flowchart
b. narrative
c. both - answer b

Sales returns are the opposite of sales. For each sales term, identify the sales return
term.
1. sales invoice
2. shipping
3. customer purchase order

, 4. bill of lading
5. debit subsidiary accounts receivable
- receiving report, credit memo, receiving, credit subsidiary accounts receivable return
request - answer 1. credit memo
2. receiving
3. return request
4. receiving report
5. credit subsidiary accounts receivable

Which of the following is not true about the accounts receivable subsidiary ledger?
a. Debits and credits in the subsidiary ledger need not be equal.
b. Every credit and cash sale is entered individually into the subsidiary ledger
c. The total of the subsidiary ledger must equal the control account before financials can
be filed
d. The subsidiary ledgers play an important role in maintaining accuracy of the data
stored in the AIS - answer b. Every credit and cash sale is entered individually into
the subsidiary ledger
- cash sales are not entered in the subsidiary ledger since they are paid for right away

We need to flag accounts receivable so that we can manage accounts receivable.
Without the flagging of accounts our operations will be inefficient, ineffective, and also
not as profitable. The flagged accounts need to be matched to the descriptions of those
accounts.
1. Active accounts
2. Current accounts
3. Inactive accounts
4. Delinquent accounts
5. Written-off accounts
6. Negative balance accounts
- Accounts have been overpaid or there is an accounting error
- Purchases on these accounts were recently made
- Bankruptcy on the account
- The collections department has deemed uncollectible
- There have not been purchase transactions in some time
- Payment is made according to a pre-determined schedule
- Payment is in arrearage
- Customers significantly contribute to the company's profitability - answer 1.
Purchases on these accounts were recently made
2. Payment is made according to a pre-determined schedule
3. There have not been purchase transactions in some time
4. Payment is in arrearage
5. The collections department has deemed uncollectible
6. Accounts have been overpaid or there is an accounting error

How do you selectively endorse a check?
a. Take it to the treasurer

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