Question
Question 1 Select a business (for example a retail store, restaurant or hair salon) and design a draft of an Accounting Information System (AIS). Explain
Question 1
Select a business (for example a retail store, restaurant or hair salon) and design a draft of an Accounting Information System (AIS). Explain how data would be captured, recorded, classied, summarized, and reported.
Question 2
Classify each of the following as a revenue process, expenditure process, conversion process, or administrative process:
a.preparing financial statements
b.purchasing electronic components to manufacture DVD players
c.receiving cash payments from customers
d.selling common stock to raise capital
d.moving parts from WIP (Work- in- Process) to Finished Goods
Question 3
What are the five interrelated components of internal control?
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