Question 1

Which of the following does not facilitate businessdecision-making activities?

Accepted Answer

A) Data Warehouse. 
B) Digital Dashboard. 
C) UML Class Diagram. 
D) Decision Support System. 
A) Data Warehouse. 
B) Digital Dashboard. 
C) UML Class Diagram. 
D) Decision Support System.

Question 2

Which type of company does the Securities and Exchange Commission (SEC)require to format their financial statements using XBRL?

Accepted Answer

A) Financial institutions 
B) Large accelerated filers 
C) Brokerage firms 
D) All public companies 
A) Financial institutions 
B) Large accelerated filers 
C) Brokerage firms 
D) All public companies

Question 3

XBRL (eXtensible Business Reporting Language)is an open,global standard for exchanging financial reporting information.

Accepted Answer

A) True 
 B)False

Question 4

Since both are regulators,the SEC and the IRS will likely have similar XBRL style sheets for the various XBRL filings.

Accepted Answer

A) True 
 B)False

Question 5

The SEC's rule titled "Interactive Data to Improve Financial Reporting" resulted in which of the following?

Accepted Answer

A) XBRL International now creates yearly taxonomies for XBRL filing. 
B) Large accelerated filers must now format their financial statements using XBRL. 
C) U.S.banks must submit their quarterly "Report of Condition and Income" using XBRL. 
D) Updated the XBRL specification to the most current version. 
A) XBRL International now creates yearly taxonomies for XBRL filing. 
B) Large accelerated filers must now format their financial statements using XBRL. 
C) U.S.banks must submit their quarterly "Report of Condition and Income" using XBRL. 
D) Updated the XBRL specification to the most current version.

Question 6

Name five items that you think would be included in a digital dashboard for an organization that you are familiar with (church,sorority,local not-for-profit,etc. )Why are these critical business processes for them?

Accepted Answer

Answers will vary de

Question 7

A collection of information gathered from an assortment of external and operational (i.e. ,internal)databases to facilitate reporting for decision making and business analysis is called:

Accepted Answer

A) Business intelligence. 
B) Data Warehouse. 
C) Digital Dashboard. 
D) XBRL. 
A) Business intelligence. 
B) Data Warehouse. 
C) Digital Dashboard. 
D) XBRL.

Question 8

XBRL allows highly disaggregated data so not only is it possible to know the level of sales,but it is possible to know sales revenue in much more detail.

Accepted Answer

A) True 
 B)False

Question 9

Why is assurance needed on XBRL data? Why will financial analysts need assurance that the XBRL data is correct? Support your answer.

Accepted Answer

Answers will vary! A potential solution

Question 10

Why is XBRL needed in the financial community? In your opinion,why did the Securities and Exchange Commission mandate its usage? What does it provide that was not available before XBRL

Accepted Answer

Answers will vary! A potential solution

Question 11

Which of the following may be the result of data mining?

Accepted Answer

A) Digital Dashboards. 
B) Competitor sales by region. 
C) Weather forecasts. 
D) Items frequently bought in combination. 
A) Digital Dashboards. 
B) Competitor sales by region. 
C) Weather forecasts. 
D) Items frequently bought in combination.

Question 12

XBRL is based on the XML language.

Accepted Answer

A) True 
 B)False

Question 13

Why would general economic information (GDP,interest rates,etc. )be included in a data warehouse? Would they be more helpful for some companies than for others?

Accepted Answer

Answers will vary! All companies and the

Question 14

A document containing XBRL elements is called a(n):

Accepted Answer

A) XBRL Instance Document. 
B) XBRL Style Sheet. 
C) XBRL Report. 
D) XBRL Taxonomy. 
A) XBRL Instance Document. 
B) XBRL Style Sheet. 
C) XBRL Report. 
D) XBRL Taxonomy.

Question 15

The steps in business intelligence include:

Accepted Answer

A) Gather Information,Analyze Data for Patterns,Make Decision 
B) Analyze Data for Patterns,Gather Information,Make Decision 
C) Create Data Warehouse,Query Data Warehouse,Make Decision 
D) Create Data Warehouse,Analyze Data for Patterns,Make Decision 
A) Gather Information,Analyze Data for Patterns,Make Decision 
B) Analyze Data for Patterns,Gather Information,Make Decision 
C) Create Data Warehouse,Query Data Warehouse,Make Decision 
D) Create Data Warehouse,Analyze Data for Patterns,Make Decision

Question 16

Data mining may uncover relationships in which no causality should be implied.In these cases,which of the following phases would be most appropriate?

Accepted Answer

A) "A improves B." 
B) "A has an impact on B." 
C) "A is associated with B." 
D) "A enhances B." 
A) "A improves B." 
B) "A has an impact on B." 
C) "A is associated with B." 
D) "A enhances B."

Question 17

Why would competitor information be included in a data warehouse? How would it be used?

Accepted Answer

Answers will vary! Generally,companies g

Question 18

Why would the company want XBRL assurance if the IRS or SEC were going to be using its data?

Accepted Answer

Answers will vary! A potential solution

Question 19

XBRL instance documents describe each key data element (e.g. ,total assets,accounts,payable,net income,etc. ).

Accepted Answer

A) True 
 B)False

Question 20

How would the XBRL style sheets be different for financial analysts as compared to the Internal Revenue Service?

Accepted Answer

Answers will vary! A potential solution

Which of the following does not facilitate businessdecision-making activities?

Which type of company does the Securities and Exchange Commission (SEC)require to format their financial statements using XBRL?

XBRL (eXtensible Business Reporting Language)is an open,global standard for exchanging financial reporting information.

Since both are regulators,the SEC and the IRS will likely have similar XBRL style sheets for the various XBRL filings.

The SEC's rule titled "Interactive Data to Improve Financial Reporting" resulted in which of the following?

Name five items that you think would be included in a digital dashboard for an organization that you are familiar with (church,sorority,local not-for-profit,etc. )Why are these critical business processes for them?

A collection of information gathered from an assortment of external and operational (i.e. ,internal)databases to facilitate reporting for decision making and business analysis is called:

XBRL allows highly disaggregated data so not only is it possible to know the level of sales,but it is possible to know sales revenue in much more detail.

Why is assurance needed on XBRL data? Why will financial analysts need assurance that the XBRL data is correct? Support your answer.

Why is XBRL needed in the financial community? In your opinion,why did the Securities and Exchange Commission mandate its usage? What does it provide that was not available before XBRL

Which of the following may be the result of data mining?

XBRL is based on the XML language.

Why would general economic information (GDP,interest rates,etc. )be included in a data warehouse? Would they be more helpful for some companies than for others?

A document containing XBRL elements is called a(n):

The steps in business intelligence include:

Data mining may uncover relationships in which no causality should be implied.In these cases,which of the following phases would be most appropriate?

Why would competitor information be included in a data warehouse? How would it be used?

Why would the company want XBRL assurance if the IRS or SEC were going to be using its data?

XBRL instance documents describe each key data element (e.g. ,total assets,accounts,payable,net income,etc. ).

How would the XBRL style sheets be different for financial analysts as compared to the Internal Revenue Service?

Accounting Information Systems and Firm Value

Accountants As Business Analysts

Data Modeling

Relational Databases and Enterprise Systems

Sales and Collections Business Process

Purchases and Payments Business Process

Conversion Business Process

Data Analytics in Accounting: Concepts and the Amps Model

Data Analytics in Accounting: Tools and Practice

Emerging Technologies: Blockchain and Ai Automation

Accounting Information Systems and Internal Controls

Information Security and Computer Fraud

Monitoring and Auditing Ais

The Balanced Scorecard, Business Model Canvas, and Business Value of Information Technology

Evaluating Ais Investments

Filters

Exam 9: Reporting Processes and Extensible Business Reporting Language Xbrl

Which of the following does not facilitate businessdecision-making activities?

Which type of company does the Securities and Exchange Commission (SEC)require to format their financial statements using XBRL?

XBRL (eXtensible Business Reporting Language)is an open,global standard for exchanging financial reporting information.

Since both are regulators,the SEC and the IRS will likely have similar XBRL style sheets for the various XBRL filings.

The SEC's rule titled "Interactive Data to Improve Financial Reporting" resulted in which of the following?

Name five items that you think would be included in a digital dashboard for an organization that you are familiar with (church,sorority,local not-for-profit,etc. )Why are these critical business processes for them?

A collection of information gathered from an assortment of external and operational (i.e. ,internal)databases to facilitate reporting for decision making and business analysis is called:

XBRL allows highly disaggregated data so not only is it possible to know the level of sales,but it is possible to know sales revenue in much more detail.

Why is assurance needed on XBRL data? Why will financial analysts need assurance that the XBRL data is correct? Support your answer.

Why is XBRL needed in the financial community? In your opinion,why did the Securities and Exchange Commission mandate its usage? What does it provide that was not available before XBRL

Which of the following may be the result of data mining?

XBRL is based on the XML language.

Why would general economic information (GDP,interest rates,etc. )be included in a data warehouse? Would they be more helpful for some companies than for others?

A document containing XBRL elements is called a(n):

The steps in business intelligence include:

Data mining may uncover relationships in which no causality should be implied.In these cases,which of the following phases would be most appropriate?

Why would competitor information be included in a data warehouse? How would it be used?

Why would the company want XBRL assurance if the IRS or SEC were going to be using its data?

XBRL instance documents describe each key data element (e.g. ,total assets,accounts,payable,net income,etc. ).

How would the XBRL style sheets be different for financial analysts as compared to the Internal Revenue Service?

Accounting Information Systems and Firm Value

Accountants As Business Analysts

Data Modeling

Relational Databases and Enterprise Systems

Sales and Collections Business Process

Purchases and Payments Business Process

Conversion Business Process

Data Analytics in Accounting: Concepts and the Amps Model

Data Analytics in Accounting: Tools and Practice

Emerging Technologies: Blockchain and Ai Automation

Accounting Information Systems and Internal Controls

Information Security and Computer Fraud

Monitoring and Auditing Ais

The Balanced Scorecard, Business Model Canvas, and Business Value of Information Technology

Evaluating Ais Investments

Filters