Question 1

What are the major exposures in the general ledger/financial reporting system?

Accepted Answer

The primary exposures are: a defective o

Question 2

Which file has as its primary purpose to present comparative financial reports on a historic basis?

Accepted Answer

A)  journal voucher history file 
B)  budget master file 
C)  responsibility file 
D)  general ledger history file 
A)  journal voucher history file 
B)  budget master file 
C)  responsibility file 
D)  general ledger history file

Question 3

Operational control involves motivating managers at all levels to use resources,including materials,personnel,and financial assets,as productively as possible.

Accepted Answer

A) True 
 B)False

Question 4

All of the following concepts encourage goal congruence except

Accepted Answer

A)  detailed information reporting at all management levels 
B)  authority and responsibility 
C)  formalization of tasks 
D)  responsibility accounting 
A)  detailed information reporting at all management levels 
B)  authority and responsibility 
C)  formalization of tasks 
D)  responsibility accounting

Question 5

The level of management that makes tactical planning decisions is

Accepted Answer

A)  top management 
B)  middle management 
C)  operations management 
D)  front-line management 
A)  top management 
B)  middle management 
C)  operations management 
D)  front-line management

Question 6

An XBRL taxonomy:

Accepted Answer

A)  is the document format used to produce web pages. 
B)  is the final product (report). 
C)  is a classification scheme. 
D)  is a tag stored in each database record. 
E)  none of the above is true. 
A)  is the document format used to produce web pages. 
B)  is the final product (report). 
C)  is a classification scheme. 
D)  is a tag stored in each database record. 
E)  none of the above is true.

Question 7

Which report is not an output of the Financial Reporting System (FRS)?

Accepted Answer

A)  variance analysis report 
B)  statement of cash flows 
C)  tax return 
D)  comparative balance sheet 
A)  variance analysis report 
B)  statement of cash flows 
C)  tax return 
D)  comparative balance sheet

Question 8

Which statement is not true/

Accepted Answer

A)  The journal voucher is the only source of input into the general ledger. 
B)  A journal voucher can be used to represent summaries of similar transactions or a single unique transaction. 
C)  Journal vouchers are not used to make adjusting entries and closing entries in the general ledger. 
D)  Journal vouchers offer a degree of control against unauthorized general ledger entries. 
A)  The journal voucher is the only source of input into the general ledger. 
B)  A journal voucher can be used to represent summaries of similar transactions or a single unique transaction. 
C)  Journal vouchers are not used to make adjusting entries and closing entries in the general ledger. 
D)  Journal vouchers offer a degree of control against unauthorized general ledger entries.

Question 9

Designing an effective management reporting system does not require an understanding of the information managers need to deal with the problems they face.

Accepted Answer

A) True 
 B)False

Question 10

All of the following are examples of programmed reports except

Accepted Answer

A)  cash flow reports for Division B 
B)  year-to-date local income tax payments made by all employees living in City X and working in City Y 
C)  inventory exception reports for Division G 
D)  equipment utilization reports for Plant M 
A)  cash flow reports for Division B 
B)  year-to-date local income tax payments made by all employees living in City X and working in City Y 
C)  inventory exception reports for Division G 
D)  equipment utilization reports for Plant M

Question 11

Describe the three elements of problem structure.Contrast a structured problem to an unstructured problem.Describe which levels of management typically deal with structured problems and with unstructured problems.

Accepted Answer

Problem structure has three elements: (1

Question 12

What is a data warehouse?

Accepted Answer

A data warehouse is a relational databas

Question 13

Describe at least three characteristics of strategic planning decisions and their information requirements.

Accepted Answer

have long time frames-create a need for

Question 14

The most common means of making entries in the general ledger is via the journal voucher.

Accepted Answer

A) True 
 B)False

Question 15

With a limited work force and a desire to maintain strong internal control,which combination of duties performed by a single individual presents the least risk exposure?

Accepted Answer

A)  maintaining the inventory ledger and recording the inventory journal voucher in the general ledger 
B)  recording the inventory journal voucher in the general ledger and maintaining custody of inventory 
C)  maintaining the cash disbursements journal and recording direct labor costs applied to specific jobs 
D)  preparing the accounts payable journal voucher and recording it in the general ledger 
A)  maintaining the inventory ledger and recording the inventory journal voucher in the general ledger 
B)  recording the inventory journal voucher in the general ledger and maintaining custody of inventory 
C)  maintaining the cash disbursements journal and recording direct labor costs applied to specific jobs 
D)  preparing the accounts payable journal voucher and recording it in the general ledger

Question 16

The Management Reporting System is a nondiscretionary system.

Accepted Answer

A) True 
 B)False

Question 17

Entries into the General Ledger System (GLS)can be made using information from

Accepted Answer

A)  the general journal 
B)  a journal voucher which represents a summary of similar transactions 
C)  a journal voucher which represents a single, unusual transaction 
D)  all of the above 
A)  the general journal 
B)  a journal voucher which represents a summary of similar transactions 
C)  a journal voucher which represents a single, unusual transaction 
D)  all of the above

Question 18

XBRL

Accepted Answer

A)  is the basic protocol that permits communication between Internet sites. 
B)  controls Web browsers that access the Web. 
C)  is the document format used to produce Web pages. 
D)  was designed to provide the financial community with a standardized method for preparing 
E)  is a low-level encryption scheme used to secure transmissions in higher-level (HTTP) format. 
A)  is the basic protocol that permits communication between Internet sites. 
B)  controls Web browsers that access the Web. 
C)  is the document format used to produce Web pages. 
D)  was designed to provide the financial community with a standardized method for preparing 
E)  is a low-level encryption scheme used to secure transmissions in higher-level (HTTP) format.

Question 19

Responsibility refers to an individual's obligation to achieve desired results.

Accepted Answer

A) True 
 B)False

Question 20

Short-range planning involves

Accepted Answer

A)  setting goals and objectives of the firm 
B)  planning the production schedule for the next quarter 
C)  planning the growth of the firm 
D)  deciding on the degree of diversification among the firm's products 
A)  setting goals and objectives of the firm 
B)  planning the production schedule for the next quarter 
C)  planning the growth of the firm 
D)  deciding on the degree of diversification among the firm's products

What are the major exposures in the general ledger/financial reporting system?

Which file has as its primary purpose to present comparative financial reports on a historic basis?

Operational control involves motivating managers at all levels to use resources,including materials,personnel,and financial assets,as productively as possible.

All of the following concepts encourage goal congruence except

The level of management that makes tactical planning decisions is

An XBRL taxonomy:

Which report is not an output of the Financial Reporting System (FRS)?

Which statement is not true/

Designing an effective management reporting system does not require an understanding of the information managers need to deal with the problems they face.

All of the following are examples of programmed reports except

Describe the three elements of problem structure.Contrast a structured problem to an unstructured problem.Describe which levels of management typically deal with structured problems and with unstructured problems.

What is a data warehouse?

Describe at least three characteristics of strategic planning decisions and their information requirements.

The most common means of making entries in the general ledger is via the journal voucher.

With a limited work force and a desire to maintain strong internal control,which combination of duties performed by a single individual presents the least risk exposure?

The Management Reporting System is a nondiscretionary system.

Entries into the General Ledger System (GLS)can be made using information from

XBRL

Responsibility refers to an individual's obligation to achieve desired results.

Short-range planning involves

The Information System: An Accountant’s Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Database Management Systems

The REA Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls : Sarbanes-Oxley and IT Governance

IT Controls : Security and Access

IT Controls : Systems Development Program Changes and Application Controls

Filters

Exam 8: General Ledger, Financial Reporting, and Management Reporting Systems

What are the major exposures in the general ledger/financial reporting system?

Which file has as its primary purpose to present comparative financial reports on a historic basis?

Operational control involves motivating managers at all levels to use resources,including materials,personnel,and financial assets,as productively as possible.

All of the following concepts encourage goal congruence except

The level of management that makes tactical planning decisions is

An XBRL taxonomy:

Which report is not an output of the Financial Reporting System (FRS)?

Which statement is not true/

Designing an effective management reporting system does not require an understanding of the information managers need to deal with the problems they face.

All of the following are examples of programmed reports except

Describe the three elements of problem structure.Contrast a structured problem to an unstructured problem.Describe which levels of management typically deal with structured problems and with unstructured problems.

What is a data warehouse?

Describe at least three characteristics of strategic planning decisions and their information requirements.

The most common means of making entries in the general ledger is via the journal voucher.

With a limited work force and a desire to maintain strong internal control,which combination of duties performed by a single individual presents the least risk exposure?

The Management Reporting System is a nondiscretionary system.

Entries into the General Ledger System (GLS)can be made using information from

XBRL

Responsibility refers to an individual's obligation to achieve desired results.

Short-range planning involves

The Information System: An Accountant’s Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Database Management Systems

The REA Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls : Sarbanes-Oxley and IT Governance

IT Controls : Security and Access

IT Controls : Systems Development Program Changes and Application Controls

Filters