hich of the following is not a function of an Accounting information system? Select one: a. The supply of information useful for making decisions. b. The efficient and effective collection and storage of data concerning an organizations financial activities. c.The determining and evaluating of alternative courses of action d. The implementation of controls to accurately record and process data

Q: Explain management’s responsibility for ethical financial reporting and describe the basic…

A: Management is liable for coverage and business the monetary data attributable to the subsequent…

Q: When does an accounting information system becomes useful?  What is the relevance of having…

A: 1.When does an accounting information system becomes useful? 2. What is the relevance of having…

Q: Which of the following is not a component of an accounting system?   the input source documents…

A: The Components of an accounting system is : The Input source documents The output reports.

Q: Accounting information's integrity is enhanced via audits.

A: This question explains about accounting information's integrity is enhanced via audits.

Q: Explain how general controls impact transaction integrity and the financial reporting process.

A:

Q: What is the rationale behind the Financial Accounting Standards Board's classification of accounting…

A: Introduction

Q: Which of the following are considered secondary characteristics of accounting information? a.…

A: Accounting information is used by various users for different purposes. The primary characteristics…

Q: Which of the following is not an objective of the conceptual framework? O a. Provides guidance for…

A: A conceptual framework is a lucid arrangement of interrelated goals and fundamentals that can prompt…

Q: Which of the following is a feature of the transaction file? Conceptually similar to the ledger in…

A: A transaction file is the file which contains the list of transactions. It is used to update the…

Q: An audit trail is a step-by-step record by which accounting data can be traced to its source.…

A: Vouching refers to checking the business transactions with their respective source documents.

Q: collection

A: Ans. Inductive approach is merely a reasoning method by which a law or general principle is…

Q: write about the implementation of systrust (integrity,security,availability,privacy and…

A: Internal control is an important part of every organization. It helps in maintaining the efficiency…

Q: An introduction to what are the most effective internal control systems or techniques available for…

A: Introduction to Internal control system: The internal control system consists of procedures and…

Q: If there is a Standard or Interpretation that specifically applies to a transaction, it overrides…

A: The answer for the True or false question on the applicability of Conceptual framework is discussed…

Q: Give instances of judgments that can be backed up by accounting data.

A: Introduction: Accounting information is the financial information about a firm that is beneficial to…

Q: Which of the following characteristics must exist for accounting information to be useful in making…

A: Definition:

Q: All of the following are objectives of internal control excepta. to ensure accurate and reliable…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Which of the following is NOT a purpose of the Transaction Processing System?a. managing and…

A:

Q: Which of the following is not a function of an Accounting Information System?  a.The efficient and…

A: The functions of AIS are: The efficient and effective collection and storage of data concerning an…

Q: Describe the external auditors responsibilities in relation to auditing accounting information…

A: Auditor's are the professional body responsible for analyzing, checking, reporting about the…

Q: Which of the following characteristics does NOT pertain to management accounting? OA. Has externally…

A:

Q: An internal control system consists of all policies and procedures used to protect assets, ensure…

A: Controls are the rules, procedures, and activities which are implemented within an organization for…

Q: From the internal parties that the system deals with Accounting information *

A: Basically internal information can be accessed only by the internal users of an organisation. People…

Q: An assurance service is defined as a service thata. Provides auditing services to nonfinancial…

A: Assurance service: It is aimed at improving the quality of information for the individual making…

Q: Financial accounting information can be used for internal reporting purposes.

A: The costs involve the fixed cost and variable cost in the production process of the company.

Q: Explain the primary functions of internal controls procedures in the accounting area

A: Definition: Internal control: The internal control refers to the plan of a company. Implementation…

Q: Accounting is an information and measurement system that identifies, records and communicates an…

A: Accounting are often outlined because the method of recording, classifying, summarising the money…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: Internal users: Internal users of the financial statement are the inside individuals or the members…

Q: Which one of the following concepts is an important issue for the Auditors of financial accounts?…

A:

Q: Discuss the significance of accounting systems in generating reliable accounting information…

A: Information systems are very important for the generation of quality accounting information on a…

Q: Which of the following would assist an entity in cat and prevent fraud? a. Accounting…

A: Fraud:- When one person intentionally conducts some activities which are against the rules and…

Q: Explain how an IT environment affects the firm’s obligation to maintain adequate accounting records.

A: Solution- The IT  Software helps to record even the complex transactions with accurate calculations…

Q: Which of the following is not considered to be part of the internal control structure of a company?…

A: Answer:  Publish accurate financial statements on a regular basis.

Q: Briefly explain the importance of independence of the accounting function in Accounting Information…

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…

A: Identifying function: helps the organization to select from its business activities, the…

Q: One output of the accounting information system is the balance sheet. Transactions commonly…

A: Accounting information system is one of the important system that is being used for maintaining and…

Q: Explain the importance of accounting information for internal parties—primarily management—in terms…

A: Accounting information:-Management uses this information, analyzes the data, and displays the…

Q: Entity-level controls can have a pervasive effect on the entity's ability to meet the control…

A: Controls to monitor results of the operations is an entity level control. Controls to monitor the…

Q: The collection and observation of accounting data was related to what?

A: generally, accounting starts with the collection of data. observation of data is done while making…

Q: companies have accounting system to ensure all valid transactions are properly  recorded within a…

A: All company need to have proper accounting system as these accounting system ensure the operating…

Q: Briefly discuss the role of the control accounts in the identification of missing figures in the…

A: The control accounts is a kind of adjustment account which gives a summary of a particular ledger…

Q: The REA model is based on the premise that ‘‘business data must not be preformatted or artifi-…

A: REA Model stands for Resource, Events, Agents model is the model in which accounting system for the…

Q: Why does the Financial Accounting Standards Board define accounting as information systems?

A: A seven-member independent board consisting of accounting professionals who establish and…

Q: Does computerization of data processing affect the objective of financial statement audit? Discuss.

A: Auditing is the process of verifying, and assessing the financial statements of a company through…