Question 1
Nonfinancial information should be collected because
◦ it may indicate events that may affect resources.
◦ it can be used to plan other activities.
◦ it can be used in transaction processing.
◦ both it may indicate events that may affect resources and it can be used to plan other activities
Question 2
When comparing REA diagrams used to design an AIS with a traditionally designed AIS,
◦ traditional AIS information, such as journals and ledgers no longer exist.
◦ similar information is present as in a traditional AIS, but stored in a different format.
◦ queries are used to input data into the AIS.
◦ an REA designed AIS cannot recreate a traditional journal.