ACTG 313 EXAMINATION SET 2026 SOLVED
QUESTIONS GRADED A+
● Information System. Answer: A combination of hardware, software,
infrastructure and trained personnel organized to facilitate planning,
control, coordination, and decision making in an organizatino
● IS. Answer: ?
● Accounting information system (AIS). Answer: A subset of
management information system (MIS), AIS is responsible for providing
timely and accurate financial and statistical reports for internal
management decision making, and for external parties such as creditors,
investors, and regulatory and taxation authorites
● management information system (MIS). Answer: An organized
approach to the study of the information needs of an organizaiton's
management at every level in making operational, tactical, and strategic
decisions. Its objective is to design and implement procedures,
processes, and routines that provide suitably detailed reports in an
accurate, consistent, and timely manner.
● computer information system (CIS). Answer: A system composed of
people and computers that processes or interprets information
, ● Money. Answer: a current medium of exchange in the form of coins
and banknotes
● information technology (IT). Answer: the application of computers
and telecommunications equipment to store, retrieve, transmit and
manipulate data, often in the context of a business or other enterprise
● currency. Answer: a system of money in general use in a particular
country
● cash. Answer: legal tender (official medium of payment recognized by
law) or coins that can be used to exchange goods, debt or services.
Sometimes is also includes the value of assets that can be converted into
cash immediately, as reported by a company.
● Difference between money, currency, cash?. Answer:
● Demand deposit. Answer: Funds held in an account from which
deposited funds can be withdrawn at any time without any advance
notice to the depository
● Time deposit. Answer: a savings account or certificate of deposit (CD)
held for a fixed-term, with the understanding that the depositor can make
a withdrawal only by giving notice
QUESTIONS GRADED A+
● Information System. Answer: A combination of hardware, software,
infrastructure and trained personnel organized to facilitate planning,
control, coordination, and decision making in an organizatino
● IS. Answer: ?
● Accounting information system (AIS). Answer: A subset of
management information system (MIS), AIS is responsible for providing
timely and accurate financial and statistical reports for internal
management decision making, and for external parties such as creditors,
investors, and regulatory and taxation authorites
● management information system (MIS). Answer: An organized
approach to the study of the information needs of an organizaiton's
management at every level in making operational, tactical, and strategic
decisions. Its objective is to design and implement procedures,
processes, and routines that provide suitably detailed reports in an
accurate, consistent, and timely manner.
● computer information system (CIS). Answer: A system composed of
people and computers that processes or interprets information
, ● Money. Answer: a current medium of exchange in the form of coins
and banknotes
● information technology (IT). Answer: the application of computers
and telecommunications equipment to store, retrieve, transmit and
manipulate data, often in the context of a business or other enterprise
● currency. Answer: a system of money in general use in a particular
country
● cash. Answer: legal tender (official medium of payment recognized by
law) or coins that can be used to exchange goods, debt or services.
Sometimes is also includes the value of assets that can be converted into
cash immediately, as reported by a company.
● Difference between money, currency, cash?. Answer:
● Demand deposit. Answer: Funds held in an account from which
deposited funds can be withdrawn at any time without any advance
notice to the depository
● Time deposit. Answer: a savings account or certificate of deposit (CD)
held for a fixed-term, with the understanding that the depositor can make
a withdrawal only by giving notice
