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How Much Do You Know About Accounting Information Systems?

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How Much Do You Know About Accounting Information Systems?

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Questions and Answers

What is the objective of AIS?

To analyze risks associated with computerized AIS

To provide sales by product reports

To gather, process, and report financial and other information (correct)

To evaluate the efficiency of MIS

Which of the following is not a characteristic of effective AIS?

Provision of necessary reports

Lack of controls (correct)

Compatibility with the company's organization

Audit trail

Which financial reports are included in AIS?

Sales by product, job order listing, employee listing, and supplier listings

B/S, I/S, cash flow, and financial account balances (correct)

Projected cash flow

None of the above

What is the purpose of AIS in relation to errors and fraud?

<p>To safeguard assets and minimize errors and fraud</p> Signup and view all the answers

Who analyzes risks associated with computerized AIS?

<p>Auditors</p> Signup and view all the answers

Study Notes

AIS is a subsystem of MIS for gathering, processing, and reporting financial and other information.
Its objective is to provide financial information to management and other interested parties.
Consultants evaluate the efficiency of AIS, while auditors analyze risks associated with computerized AIS.
Effective AIS should be compatible with the company's organization, provide necessary reports, have controls, and an audit trail.
It should also have qualified personnel, simplicity, flexibility, and a favorable cost/benefit relationship.
Financial reports include B/S, I/S, cash flow, and financial account balances.
Special management reports include sales by product, job order listing, employee listing, and supplier listings.
Financial projections include projected cash flow.
AIS safeguards assets and minimizes errors and fraud.
It should trace data processing steps from financial statements to source documents and vice versa.

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Description

Test your knowledge of Accounting Information Systems (AIS) with this quiz! From the basics of gathering and reporting financial information to the evaluation of efficiency and risk analysis, this quiz covers it all. Find out if you know what it takes to ensure an effective AIS, including compatibility, controls, and qualified personnel. Test yourself on financial and management reports, projections, and the crucial role of AIS in safeguarding assets and minimizing errors and fraud. Challenge yourself and see if you can trace data processing steps from