AIS E-SUA Exam Questions & Answers 2024/2025
A cash sale to a customer would be recorded in the:
a. Purchases Journal
b. The sales journal and the general journal
c. The cash receipts journal and the general journal
d. Sales journal
e. Cash receipts journal - ANSWERSe. Cash receipts jou...
A cash sale to a customer would be recorded in the:
a. Purchases Journal
b. The sales journal and the general journal
c. The cash receipts journal and the general journal
d. Sales journal
e. Cash receipts journal - ANSWERSe. Cash receipts journal
Which of the following is not a purpose of the accounting system?
a. Measure, record, categorize, and summarize the daily operating activities of the business in monetary
terms
b. Provide accountability of all levels of management for their delegated responsibilities
c. Protect business assets from unauthorized use or consumption
d. To transform resources into goods and services - ANSWERSd. To transform resources into goods and
services
Which of the following is not a reason to document the company's financial processes?
a. Provides reasonable assurance that the financial statements are reliable
b. Reduces the likelihood of an incomplete or ineffective accounting system
c. Identifies ways to improve the accounting system
d. Allows personnel to easily communicate information accounting the accounting system
e. Provides information for training new employees - ANSWERSa. Provides reasonable assurance that the
financial statements are reliable
, For every purchase, there should aslo be a:
a. Cash receipts
b. Sale
c. Material issue
d. Labor operation
e. Cash disbursement - ANSWERSe. Cash disbursement
What is an inflow to the sales and cash receipts cycle?
a. Raw materials
b. Cash
c. A good or service
d. Fixed assets
e. Labor - ANSWERSc. A good or service
Which of the following accounts would not have a subledger associated with it?
a. Fixed assets
b. Accounts payable
c. Accounts receivable
d. Prepaid expenses - ANSWERSd. Prepaid expenses
What is typically the final step of the accounting process?
a. Recording of adjusting entries
b. Preparing the financial statements
c. Preparing the post-closing trial balance
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