MOCK EXAM AIS 1
SET 1
Question 1 (2 points): Multiple choice questions. Choose the most appropriate answer for
the following questions
1. Which statement is TRUE about inventory cards:
A. Inventory cards are recorded by the storekeeper for a specific inventory
B. Inventory cards are not required in the case of businesses applying perpetual inventory
system
C. Information on the Inventory cards includes: volume, unit price and cost of the material
object it tracks.
D. Inventory cards have many benefits when recording and tracking many objects at the
same time.
2. Which of the following types of book cannot be used in the General Journal accounting
form:
A. Cash book
B. Detailed account books
C. Trial balance
D. Journal-Documents
3. What is NOT the content of accounting book organization:
A. Choose a accounting book form
B. Choose the type and quantity of accounting books
C. Organize the recording process in accounting books
D. Communicate information to users
4. Which of the following is NOT a basic element needed on accounting documents?
A. Document name
B. Content of the operation
C. Document number and date
D. Basis for issuance of documents
5. Timesheet is used to:
A. Monitor production plans
B. Monitor actual labor time
C. Recommend raw materials for the workshop
D. Monitor business risks
6. Which of the following statements is NOT true regarding the General Journal?
A. It is a book that records economic transactions arising in chronological order
B. Reflects economic operations arising by groups of operations with the same economic
content
C. Is an account book, serving the recording of the Ledger
D. At the end of the book page, you may add up total amount to transfer the total amount to
the next page
7. Which of the following is not part of an information system:
A. Data and information
B. Data Processing
C. Information risk
D. Data Storage
8. According to users, the accounting information system includes:
A. Financial accounting information system and detailed accounting information system
B. Financial accounting information system and management accounting information
system
C. Financial accounting information system and computer accounting information
system
D. Financial accounting information system and manual accounting information system
Question 2 (2 points): True/False Questions. Please indicate the following statements True
or False and give brief explanation.
1. All accounting documents must be stored permanently.
2. The warehouse receipt Note must record both quantity information and unit price of the
warehoused goods.
3. The Goods delivery note is required to record both quantity information and unit price of the
released goods.
4. The treasurer is the person who prepares the Cash Receipt Note and collects the money.
Question 3 (4 points): (Manual Accounting Information System)
Company CFAB has following transaction related to tangible fixed assets in year N ( in VND):
1- Buying equipment through bidding, estimated price is 1,200,000,000, VAT 120,000,000.
- On 3/7/N, bidding to select suppliers. Supplier B - the winning bidder. Therefore, the
equipment was acquired with a value of 1,180,000,000 in which VAT is 118,000,000.
- On 5/7/N, the company signed an economic contract with supplier B, the contract stipulates:
The equipment will be delivered at the company 10 days after signing the contract and paid by
bank transfer after 30 days from the date of purchase. If company pays before the first 5 days of
the specified payment period, company will be entitled to a discount of 0.5%.
- On 15/7/N, supplier B delivers equipment enclosed with VAT invoice number 00321 to the
company, total amount is 1,298,000,000 (included 10% VAT). The company sets up an
Equipment Examination Board and bring the equipment ready for use. Expenditure incurred
helping the equipment into use include:
+ Cost of loading and unloading equipment: 500,000
+ Cost of hiring an expert: 200,000
+ Installation and calibration cost: 2,000,000
+ Cost of idling: 1,300,000
+ User guidance cost: 1,000,000
These costs are all incurred in cash.
- On 15/8/N, the company paid to supplier B (received the Debit note).
- On 16/8/N, supplier B and company liquidate the contract.
2- The Director has decided to liquidate a factory: the original cost of the factory is 450,000,000,
the accumulated depreciation is 435,000,000, the scrap is sold through auction.
- On 10/8/N: The Director signed the decision on liquidation of the factory and established the
Fixed Asset Liquidation Board.
- On 12/8/N: Liquidation Board carried out the liquidation of the factory
- On 20/8/N: Outsourcing expenses incurred related to the liquidation of fixed assets paid in cash
of 5,500,000 (include 10% VAT).
- On 18/8/N: collected by bank transfer 25,000,000 (not include 10% VAT) for scrap sold
Instruction:
Assume the company applied accounting form “Registration Document”
1. Prepare “Registration Document” and “Registration Voucher Book” for above
transactions.
2. Prepare General Ledger of Account 211 (Tangible Fixed Asset)?
Question 4 (2 points): Documentation techniques for AIS
Description of purchasing procedures at CFAB Company as follows:
The warehouse department relies on stock norms to determine the quantity of goods to
buy and makes an application to purchase (purchasing requisition). This requisition is made into
2 copies. 1st Copy kept at the requisition department. 2 nd Copy sent to Supply Department.
Supplies department will find suppliers, order goods and sign contracts.
When the shipper delivers the goods and the invoice, the Supply Department checks the
goods and makes a Goods Checking Minute. This Minute is made into 3 copies. Copy 1 kept at
the Material Department, 2nd Copy is handed over to the Inventory Accountant, and 3 rd Copy is
handed over to the shipper.
The Inventory accountant, after receiving the Goods Checking Minute, will make a
warehouse receipt Note. This Note is made into 3 copies. 1 st Copy is kept in Accounting Dept. to
record in accounting book, 2nd Copy and 3rd Copy are passed to the storekeeper.
The warehouse keepers check of the goods and confirms the actual quantity of goods and
record in the warehouse receipt Note, signs the warehouse receipt Note and transfers 1 copy to
the shipper. The remaining copy is stored at the warehouse.
Documents are kept in divisions by number and date.
Instruction:
1. Analyze object and related activities for the business process described above?
2. Prepare Document Flow Chart for the process illustrated above?
