AIS 5

Question 1

posts from the accounts payable journal voucher to the general ledger​

reconciles the inventory amount with the account summary received from inventory control​

Answer 1

G/L department

Question 2

use technology to improve efficiency and effectiveness ​

Answer 2

automation

Question 3

use technology to restructure business processes and firm organization​

Answer 3

reengineering

Question 4

supplier (vendor) master file​

accounts payable master file​

merchandise inventory master file​

Answer 4

Master Files​

Question 5

purchase order file​

open purchase order file​

supplier’s invoice file​

open vouchers file​

cash disbursements file​

Answer 5

Transaction and Open Document Files​

Question 6

performs routine accounting tasks.​

Answer 6

Data Processing dept

Question 7

a computer program identifies inventory requirements ​

Answer 7

Purchasing

Question 8

Within the expenditure cycle, supervision is of highest importance in the Receiving department, where the inventory arrives and is logged in by a receiving clerk. Need to minimize:​

failures to properly inspect the assets​

theft of the assets​

Answer 8

Manual ​
Supervision​

Question 9

Must maintain adequate records for: ​

accounts payable ​

vouchers payable​

checks​

general ledger​

subsidiary ledgers ​

Answer 9

Manual​
Accounting Records​

Question 10

are vulnerable to both authorized and unauthorized exposure and should be protected​

must have limited file accessibility​

programs must be safeguarded and monitored​

Answer 10

Magnetic records

Question 11

verifies much of the work done within the expenditure cycle. ​

Answer 11

A/Payable dept.

Question 12

verifies:
the total obligations recorded equal the total inventories received ​

the total reductions in accounts payable equal the total disbursements of cash​

Answer 12

G/Ledger dept