AIS EXAM 2025 WITH 100% CORRECT
ANSWERS
An accounting information system is a set of interrelated: - CORRECT ANSWER✔✔Activities,
documents and technologies.
The components of an accounting information system are designed to collect ___ and report
___. - CORRECT ANSWER✔✔Data, information
An accounting information system is defined by the text as a set of three interrelated elements.
Which of the following choices best gives an example of each element? - CORRECT
ANSWER✔✔Buying inventory, sales invoice, general ledger software
An accounting information system transforms inputs into outputs via processes such as: -
CORRECT ANSWER✔✔Journalizing transactions and posting them to the ledger
Which of the following best fits the definition of an accounting information system explained in
the text? - CORRECT ANSWER✔✔Processed source documents leading to the general purpose
financial statements
April compiled checks, receipts and invoices, then entered them into Quickbooks. She printed
out her financial statements and took them to the bank as documentation for a loan
application. In that scenario, checks, receipts and invoices could be referred to as: - CORRECT
ANSWER✔✔Documents and data
Claudia borrowed money from her bank, signing a five-year note payable. She then calculated
the monthly payment needed to pay off the loan within three years. Which of the following
statements is / are most true? - CORRECT ANSWER✔✔The required monthly payment is an
,example of "information," as the term is used in the definition of an accounting information
system.
Claudia borrowed money from her bank, signing a five-year note payable. She then calculated
the monthly payment needed to pay off the loan within three years. Based on the definition of
an accounting information system provided in the text, the five-year note payable could be
considered: (i) an input, (ii) an output, (iii) a document. - CORRECT ANSWER✔✔I, II and III
Eugene is a self-employed business owner. In February 2011, he gathered together his income
and expense records for 2010. He used them, along with appropriate software, to prepare his
tax return, which he then transmitted to the Internal Revenue Service. Has Eugene used an
accounting information system based on the definition provided in the text? - CORRECT
ANSWER✔✔Yes, because all elements of the definition are present.
The vice president for customer service of First United Bank determined that Lee had overpaid
his mortgage. The bank sent Lee a letter asking him if he wanted a refund of the overpayment
or if he wanted to apply it to future mortgage payments. Has the vice president for customer
service used an accounting information system based on the definition provided in the text? -
CORRECT ANSWER✔✔Yes, because all elements of the definition are present or implied.
Accounting information systems is an important area of study for future accountants because: -
CORRECT ANSWER✔✔All organizations need an AIS.
Accounting information systems is an important area of study for future accountants because a
well-designed AIS can respond to many elements of the FASB Conceptual Framework. All of the
following are parts of the conceptual framework except: - CORRECT ANSWER✔✔Principles of
debit and credit
Which of the following best explains why AIS is an important area of study for future
accountants? - CORRECT ANSWER✔✔Neither A nor B
, AIS is an important area of study for future accountants because a well-designed AIS can
recognize and adapt to the cost-benefit constraint. Which of the following statements is most
true? - CORRECT ANSWER✔✔Resistance to change is a potential cost when making changes to
the AIS
AIS is an important area of study for future accountants because a well-designed AIS can
respond to many elements of the conceptual framework. Which of the following best pairs an
element of the conceptual framework with a specific example of that element? - CORRECT
ANSWER✔✔Matching, land is not depreciated
AIS is an important area of study for future accountants because a well-designed AIS can
respond to many elements of the conceptual framework. Which of the following statements is
most true? - CORRECT ANSWER✔✔Land is reported as an asset on the balance sheet; assets are
one element of financial statements in the conceptual framework.
AIS is an important area of study for future accountants because a well-designed AIS can
respond to many elements of the conceptual framework. Which of the following statements
about qualitative characteristics of accounting information is most true? - CORRECT
ANSWER✔✔Reliability must sometimes be sacrificed to attain relevance.
VTR Corporation's accounting information system recently reported the following information:
Cost of goods sold, $1,500. Inventory, $15,000. Unearned service fees, $3,000. Service fees
earned, $8,000. Which element of financial statements is not included in the preceding data? -
CORRECT ANSWER✔✔Equity
Which of the following elements of the conceptual framework fit within the same category? -
CORRECT ANSWER✔✔Conservatism, materiality
Which of the following exemplifies "materiality" as the term is used in the FASB conceptual
framework? - CORRECT ANSWER✔✔Both A and B
ANSWERS
An accounting information system is a set of interrelated: - CORRECT ANSWER✔✔Activities,
documents and technologies.
The components of an accounting information system are designed to collect ___ and report
___. - CORRECT ANSWER✔✔Data, information
An accounting information system is defined by the text as a set of three interrelated elements.
Which of the following choices best gives an example of each element? - CORRECT
ANSWER✔✔Buying inventory, sales invoice, general ledger software
An accounting information system transforms inputs into outputs via processes such as: -
CORRECT ANSWER✔✔Journalizing transactions and posting them to the ledger
Which of the following best fits the definition of an accounting information system explained in
the text? - CORRECT ANSWER✔✔Processed source documents leading to the general purpose
financial statements
April compiled checks, receipts and invoices, then entered them into Quickbooks. She printed
out her financial statements and took them to the bank as documentation for a loan
application. In that scenario, checks, receipts and invoices could be referred to as: - CORRECT
ANSWER✔✔Documents and data
Claudia borrowed money from her bank, signing a five-year note payable. She then calculated
the monthly payment needed to pay off the loan within three years. Which of the following
statements is / are most true? - CORRECT ANSWER✔✔The required monthly payment is an
,example of "information," as the term is used in the definition of an accounting information
system.
Claudia borrowed money from her bank, signing a five-year note payable. She then calculated
the monthly payment needed to pay off the loan within three years. Based on the definition of
an accounting information system provided in the text, the five-year note payable could be
considered: (i) an input, (ii) an output, (iii) a document. - CORRECT ANSWER✔✔I, II and III
Eugene is a self-employed business owner. In February 2011, he gathered together his income
and expense records for 2010. He used them, along with appropriate software, to prepare his
tax return, which he then transmitted to the Internal Revenue Service. Has Eugene used an
accounting information system based on the definition provided in the text? - CORRECT
ANSWER✔✔Yes, because all elements of the definition are present.
The vice president for customer service of First United Bank determined that Lee had overpaid
his mortgage. The bank sent Lee a letter asking him if he wanted a refund of the overpayment
or if he wanted to apply it to future mortgage payments. Has the vice president for customer
service used an accounting information system based on the definition provided in the text? -
CORRECT ANSWER✔✔Yes, because all elements of the definition are present or implied.
Accounting information systems is an important area of study for future accountants because: -
CORRECT ANSWER✔✔All organizations need an AIS.
Accounting information systems is an important area of study for future accountants because a
well-designed AIS can respond to many elements of the FASB Conceptual Framework. All of the
following are parts of the conceptual framework except: - CORRECT ANSWER✔✔Principles of
debit and credit
Which of the following best explains why AIS is an important area of study for future
accountants? - CORRECT ANSWER✔✔Neither A nor B
, AIS is an important area of study for future accountants because a well-designed AIS can
recognize and adapt to the cost-benefit constraint. Which of the following statements is most
true? - CORRECT ANSWER✔✔Resistance to change is a potential cost when making changes to
the AIS
AIS is an important area of study for future accountants because a well-designed AIS can
respond to many elements of the conceptual framework. Which of the following best pairs an
element of the conceptual framework with a specific example of that element? - CORRECT
ANSWER✔✔Matching, land is not depreciated
AIS is an important area of study for future accountants because a well-designed AIS can
respond to many elements of the conceptual framework. Which of the following statements is
most true? - CORRECT ANSWER✔✔Land is reported as an asset on the balance sheet; assets are
one element of financial statements in the conceptual framework.
AIS is an important area of study for future accountants because a well-designed AIS can
respond to many elements of the conceptual framework. Which of the following statements
about qualitative characteristics of accounting information is most true? - CORRECT
ANSWER✔✔Reliability must sometimes be sacrificed to attain relevance.
VTR Corporation's accounting information system recently reported the following information:
Cost of goods sold, $1,500. Inventory, $15,000. Unearned service fees, $3,000. Service fees
earned, $8,000. Which element of financial statements is not included in the preceding data? -
CORRECT ANSWER✔✔Equity
Which of the following elements of the conceptual framework fit within the same category? -
CORRECT ANSWER✔✔Conservatism, materiality
Which of the following exemplifies "materiality" as the term is used in the FASB conceptual
framework? - CORRECT ANSWER✔✔Both A and B
