An Example of a Specialty Component of an AIS Is

question 47

Multiple Choice

An example of a specialty component of an AIS is

• A) Subsidiary ledger
• B) Sales Journal
• C) Property, plant and equipment
• D) Cheque Register
• E) Voucher

---

Definitions:

Consolidation

The process of combining the financial statements of a parent company with those of its subsidiaries, presenting the financial results as if the group of companies was a single entity.

Long-Term Debt

Borrowings and other financial obligations that are due for repayment beyond the next 12 months, usually including bonds, loans, and lease obligations.

Interest Expense

The cost incurred by an entity for borrowed funds, reflected as a charge against its income.