AIS Test 1 Questions with 100% Verified Correct Answers Complete 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 1 / 3
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 2 / 3
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 complete picking ticket for a customer order - Correct Answer revenue record factory employee timecards - Correct Answer HR/payroll sell concert tickets - Correct Answer revenue draw on line-of-credit - Correct Answer financing send new employees to a business ethics course - Correct Answer HR/payroll
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