Reference no: EM132804280

Problem 1: One of the three basic functions of an AIS is to collect and store data about the organization's business activities and transactions efficiently and effectively. In a manual system the process of performing this function follows the order of:

a) source documents, journalizing, posting

b) posting, journalizing, source documents

c) journalizing, ledgerizing, posting

d) source documents, ledgerizing, journalizing

e) source documents, ledgerizing, posting

Problem 2: A chart of accounts....................

a) is a list of all accounts in the organization with each account identified by a three- or four-digit code

b) is used to summarize each customer's current balance

c) provides an audit trail

d) is a list of all permanent accounts in the organization. Temporary accounts, such as revenue and expense accounts, are not included in the chart of accounts.

e) None of the above