t/f

Question 1

Data are the raw facts or stored facts from internal and external sources that form the inputs to an information system.

Answer 1

True

Question 2

Sorting, organising, and calculating are the processes involved in converting data into information.

Answer 2

True

Question 3

A financial report is an example of processed data that internal and external users could use for decision-making.

Answer 3

True

Question 4

System auditors are responsible for designing the accounting information system, specifically related to the physical design.

Answer 4

False

Question 5

A General journal records specific classes of transactions that occur in high volume.

Answer 5

False

Question 6

General ledgers and subsidiary ledgers are examples of reference files.

Answer 6

False

Question 7

The Debtors Tab in UBS Accounting allows you to distribute last year’s ageing.

Answer 7

True

Question 8

4000/000 account is the control account for all individual creditors.

Answer 8

True

Question 9

Using the Quick Entry, debtors’ personal accounts will be used as the Master Account for transactions that involve return outwards.

Answer 9

False

Question 10

A Transaction Wizard serves as a quick start for new users, providing a step-by-step guide to setting up the necessary master data and entering transactions into the system.

Answer 10

True

Question 11

Sales, Purchases, Returns, Cash Received, and Cash Paid are the menu available in Transaction Wizards.

Answer 11

False

Question 12

The total opening balances of creditor accounts must be allocated precisely across their respective periods.

Answer 12

True

Question 13

UBS Accounting requires three stock accounts to be maintained since the system do not perform double entry for opening and closing stock.

Answer 13

True

Question 14

The account type for Stock is L.

Answer 14

F

Question 15

Without creating the PA Special Accounts for stock accounts, UBS Accounting does not allow users to run the Year End Processing.

Answer 15

True

Question 16

Accounting Information System fulfils obligations relating to stewardship

Answer 16

True

Question 17

The objective of data collection is to collect, analyse and manipulate data that are demanded by the management.

Answer 17

False

Question 18

Data are less important compared to information because they contain raw facts, numbers, and symbols.

Answer 18

True

Question 19

An accountant, as a system designer, provides a conceptual design of the system.

Answer 19

True

Question 20

Reference file contains records of past transactions that are maintained for future references.

Answer 20

False

Question 21

Transaction file is a temporary file holding transaction records that will be used to update data in a master file.

Answer 21

True

Question 22

Your company’s accounting year started on April 2023. In order to generate batches for December 2023, select Period 10.

Answer 22

False

Question 23

To Distribute Last Year Aging, the amount for the period of “1 month before Starting Period” is barred by UBS Accounting System from being keyed in manually.

Answer 23

True

Question 24

We can sort Debtors’ Listing by Account Numbers and by Names.

Answer 24

True

Question 25

UBS Accounting System forbids entering Opening Balances for Debtors’ Control Account.

Answer 25

true

Question 26

We can key in transactions related to purchases by using General Ledger File Transactions.

Answer 26

False

Question 27

UBS Accounting System allows adding of new customers’ details using QR codes.

Answer 27

false

Question 28

UBS Accounting System maintains three stock accounts: BS, OI and CI Accounts.

Answer 28

false

Question 29

UBS Accounting System uses the periodical system to record the stock value.

Answer 29

true

Question 30

Stock is recorded under E – Other Assets.

Answer 30

false

Question 31

An accounting information system (AIS) is a system that collects, stores, and processes information to produce data.

Answer 31

False

Question 32

A source document is used to capture transaction data that is needed for processing.

Answer 32

T

Question 33

A general journal is used to record transactions that are not recorded in any of the specific journals.

Answer 33

true

Question 34

Reference file contains records of past transactions that are retained for future references.

Answer 34

false

Question 35

A role of an accountant as a system auditor is to provide a conceptual design of the system.

Answer 35

false

Question 36

List of former employees and records of accounts written off are the examples of archive files.

Answer 36

true

Question 37

Either Add or Quick entry can be used to enter transactions for credit purchases.

Answer 37

true

Question 38

UBS Accounting System allowed users to enter transactions for more than 12 months until 18 months.

Answer 38

true

Question 39

V.Edit function allows users to edit multiple transactions in a batch.

Answer 39

true

Question 40

If a user uses the Quick method to do the double entry for returns outwards transaction, the user must use the Debtor’s personal A/C as the Master A/C.

Answer 40

false

Question 41

If the starting period is equal to 1, the UBS accounting System allows entering of opening balances for both balance sheet and income/expenses account.

Answer 41

fALSE

Question 42

The primary code of debtors’ personal A/C is 4000.

Answer 42

false

Question 43

UBS Software allows users to record closing stock value periodically.

Answer 43

true

Question 44

Stock Account named BS Stock A/C appears in the Balance Sheet under the header of Current Asset.

Answer 44

true

Question 45

Cost of Goods Sold is one of the Account Type in General Ledger A/C Maintenance.

Answer 45

true

Question 46

Accountants as system designers access the accounting information system to perform acrounting functions.

Answer 46

false

Question 47

Data is less meaninglul because it contains raw facts, numbers and symbols.

Answer 47

true

Question 48

The objective of data collection is to collect data that are cost efficient and demanded by users.

Answer 48

false

Question 49

General ledger and subsidiary ledger are examples of Transaction files.

Answer 49

false

Question 50

One of the objectives of accounting information systems is to ensure businesses are competitive in this digital economy environment.

Answer 50

false

Question 51

Reference file is used as a standard for transaction processing.

Answer 51

true

Question 52

A wrongly entered starting period will aflect the sequence of aging periods.

Answer 52

true

Question 53

Quick Entry is a single transaction entry procedure.

Answer 53

false

Question 54

An incorrect purchase account can be deleted when there is no transaction recorded and the balance is zero.

Answer 54

true

Question 55

Account type for Rental expenses should be entered as E type.

Answer 55

false

Question 56

One ol the functionalilies of Primary Code is sorting each account's sequence in descending order, during the printing of tinancial reports.

Answer 56

false

Question 57

Account numbers can be changed using Administrative Tools.

Answer 57

true

Question 58

Stock values need to be entered at every month's end to produce accurate monthly financial reports.

Answer 58

true

Question 59

Only two stock accounts must be created to maintain the stock values in UBS Accounting Syslem.

Answer 59

false