QUIZ

2.4 & 2.5

AIS & FMS
QUIZ 2.4 (AIS)
1. This system is used to identify, analyze, measure, 3. It is a structure that a business uses to collect,
record, summarize, and communicate relevant store, manage, process, retrieve and report its
economic information to interested parties. financial data so that it can be used by accountants,
consultants, business analysts, managers, chief
a. Information system
financial officers (CFOs), auditors and regulatory
b. Accounting system and tax agencies.
c. Financial system a. Information system
d. Management system b. Accounting system
C. Financial system
2. It is a system composed of people and computers d. Accounting Information System
that processes or interprets information.
4. A subsystem of the AIS. It accumulates financial
a. Information system transaction data, classifies the data by general
b. Accounting system ledger accounts, records the data in those accounts
and serves as a basis for financial reporting and
c. Financial system managerial reporting subsystems.
d. Accounting Information system a. General Ledger and Reporting System
b. General Reporting System
c. General Ledger System
5. This component of Information System 7. This component of Information System
includes the processed information in a usable includes saving data at a period of time.
format. a. Input
a. Input
b. Process
b. Process c. Output
c. Output d. Storage
d. Storage
8. The following are the main functions or
6. This component of Information System responsibilities of AIS except:
includes the internal parts of the computer a. Receiving and keeping data, for later
system. access
a. Input b. Converting data into information for
b. Process decision making
c. Presenting the data to the subordinates
c. Output
d. Establishing the appropriate internal
d. Storage
controls
9-12.) Give the 4 types of AIS

13-15. Give at least 3 basic

subsystems under Gen. Ledger and
Reporting System.
QUIZ 2.5 (FMS)
1. It is the methodology and software that an 3. This feature of financial management system
organization uses to oversee and govern its involves managing receivables, actually
income, expenses, and assets with the objectives processing the invoices when they come in.
of maximizing profits and ensuring sustainability. a. Expense Tracking
a. Financial Management System
b. Profit tracking
b. Accounting Information System c. Invoicing
c. Financial Information System d. Real-time data
d. Accounting Management System
4. This feature of financial management system
involves tracking, process, pay and recording all
2. True or False? In financial management system,expenses incurred in the business.
accounting software is designed to document a. Expense tracking
and classify all of the business transactions. b. Profit tracking
c. Invoicing
d. Real-time data
5. This feature of financial management system 7. This feature of financial management system
keeps tabs of income and determine what looks at past performance and external market
products or services are bringing in the majority factors to build a forecast of potential revenue
of profit. and expenses
a. Expense tracking a. Accounting Integration
b. Profit tracking b. Profit Tracking
c. Projections c. Projections
d. Real-time data d. Real-time data
6. This feature helps create reports, consolidate 8. This feature of financial management system
financial data into one place, maintain removes the ness for a separate accounting
compliance, and easily present information systems to record things such as general ledger
related to the financial status of your company. entries, accounts receivable and payable.
a. Expense tracking a. Accounting Integration
b. Profit tracking b. Profit tracking
c. Projections c. Projections
d. Real-time data d. Real-time data
9-11.) Give the 3 benefits of financial
management system.

12-15.) Give at least 4 examples of

best financial management systems.