Exercise No. 2: True or False. Write True if the statement is correct or FALSE if it is incorrect. SE 1. AIS can only be made with a mechanical process. 2. AIS are designed to transfer economic information into meaningful financial reports. 3. Poor AIS posed greater risk of business. 4. The basic accounting terminology is not included as part of AIS. 5. The purpose or function of AIS is closely related to accounting. 6. An official receipt is a commercial invoice. 7. A check voucher is used to record payments with minimal amount. 8. A debit memo issued by a trading enterprise would increase its collectible to clients. 9. A liability can be used to change or pay another form of liability. 10. An account number is used to facilitate recording and cross referencing. 11. One the debits and credits are equal; the trail balance contains accurate financial information. 12. A single entry has only one debit account and one credit account. 13. The journalizing and posting of transactions are done in just one recording under the computerized accounting system. 14. AIS should be observe cost-benefit measures.. 15. The general ledger is the book of original entry. 16. The source documents are first recorded in the general ledger. 17. The entries in the general journal are arranged chronologically. 18. An account with equal debit and credit amounts shall be transferred to the trial balance. 19. A working paper facilitates the adjustments of accounts.. 20. The adjusted trial balance is a required column in the accounting worksheet. 21. A worksheet is part of the formal accounting records.