Ais Test 1 Updated Questions And Answers

AIS TEST 1 UPDATED QUESTIONS AND ANSWERS
General Ledger - CORRECT ANSWER✅✅✅contains summary-level data for every asset, liability,
equity, revenue, and expense account



Sequence Code - CORRECT ANSWER✅✅✅items are numbered consecutively to account for all
items; missing items cause a gap in the numerical sequence



Audit Trail - CORRECT ANSWER✅✅✅Path of a transaction through a data processing system from
point of origin to final output, or backwards from final output to point of origin



Chart of accounts - CORRECT ANSWER✅✅✅List of general ledger account numbers; allows
transaction data to be coded, classified, and entered into proper accounts; facilitates preparation of
financial statements and reports



Data value - CORRECT ANSWER✅✅✅Contents of a specific field, such as "George" in a name field



Field - CORRECT ANSWER✅✅✅Portion of a data record that contains the data value for a particular
attribute, like a cell in a spreadsheet



Turnaround document - CORRECT ANSWER✅✅✅Company data sent to an external party and then
returned to the system as input



General journal - CORRECT ANSWER✅✅✅Used to record infrequent or non-routine transactions



Attribute - CORRECT ANSWER✅✅✅Characteristics of interest that need to be stored



data processing - CORRECT ANSWER✅✅✅The steps a company must follow to efficiently and
effectively process data about its transactions



Entity - CORRECT ANSWER✅✅✅something about which information is stored

,master file - CORRECT ANSWER✅✅✅Stores cumulative information about an organization; like a
ledger in a manual AIS



subsidary ledger - CORRECT ANSWER✅✅✅contains detailed data for any general ledger account
with many individual subaccounts



transaction file - CORRECT ANSWER✅✅✅contains records of individual business transactions that
occur during a specific time



online, real-time processing - CORRECT ANSWER✅✅✅updating each transaction as it occurs



source data automation - CORRECT ANSWER✅✅✅devices that capture transaction data in machine-
readable form at the time and place of their origin



specialized journal - CORRECT ANSWER✅✅✅used to record large numbers of repetitive transactions



database - CORRECT ANSWER✅✅✅set of interrelated, centrally coordinated files



group code - CORRECT ANSWER✅✅✅two or more subgroups of digits are used to code items



batch processing - CORRECT ANSWER✅✅✅updating done periodically, such as daily



coding - CORRECT ANSWER✅✅✅systematic assignment of numbers or letters to items to classify
and organize them



mnemonic coding - CORRECT ANSWER✅✅✅letters and numbers, derived from the item description,
are interspersed to identify items, usually easy to memorize

, source documents - CORRECT ANSWER✅✅✅initial record of a transaction that takes place; usually
recorded on preprinted forms or formatted screens



record - CORRECT ANSWER✅✅✅Fields containing data about entity attributes; like a row in a
spreadsheet



block code - CORRECT ANSWER✅✅✅Sets of numbers are reserved for specific categories of data



Control Account - CORRECT ANSWER✅✅✅The general ledger account that is supported by a
subsidiary ledger, where the sum of all subsidiary ledger entries should equal the amount in the general
ledger account



purchase raw materials - CORRECT ANSWER✅✅✅expenditure



pay off mortgage on factory - CORRECT ANSWER✅✅✅financing



hire a new assistant controller - CORRECT ANSWER✅✅✅HR/payroll



establish a $10,000 credit limit for a new customer - CORRECT ANSWER✅✅✅revenue



Pay for raw materials - CORRECT ANSWER✅✅✅expenditure



disburse payroll checks to factory workers - CORRECT ANSWER✅✅✅HR/payroll



record goods received from a vendor - CORRECT ANSWER✅✅✅expenditure



Update the allowance for uncollectible accounts - CORRECT ANSWER✅✅✅revenue



decide how many units to make next month - CORRECT ANSWER✅✅✅production