Question 1

Standard XBRL taxonomies can cover most accounting situations.

Accepted Answer

A) True 
 B)False

Question 2

XBRL stands for

Accepted Answer

A) extensible business reporting language. 
B) external business reporting ledgers. 
C) external business reporting language. 
D) extensive business report logic. 
A) extensible business reporting language. 
B) external business reporting ledgers. 
C) external business reporting language. 
D) extensive business report logic.

Question 3

As responsibility reports are rolled up into reports for higher level executives,they

Accepted Answer

A) become less detailed. 
B) become more detailed. 
C) become narrower in scope. 
D) become wider in scope. 
A) become less detailed. 
B) become more detailed. 
C) become narrower in scope. 
D) become wider in scope.

Question 4

Explain the benefits of XBRL.

Accepted Answer

XBRL (Extensible Business Reporting Lang

Question 5

Marina Filimena is an accountant at Jasmina Hair Products.Marina received the following error message while making an adjusting entry to the general ledger: "The amounts debited and credited are not equal.Please correct and try again." This is an example of a

Accepted Answer

A) validity check. 
B) field check. 
C) zero-balance check. 
D) completeness test. 
A) validity check. 
B) field check. 
C) zero-balance check. 
D) completeness test.

Question 6

Identify one way "rainbow tables" are often used.

Accepted Answer

A) To discover plaintext passwords associated with a hash. 
B) To integrate different tables into one,master table. 
C) To perform a zero-balance check. 
D) To ensure referential integrity of all the associated tables. 
A) To discover plaintext passwords associated with a hash. 
B) To integrate different tables into one,master table. 
C) To perform a zero-balance check. 
D) To ensure referential integrity of all the associated tables.

Question 7

Departments that mostly provide services to other units and charge those units for services rendered should be evaluated as ________ centers.

Accepted Answer

A) cost 
B) profit 
C) investment 
D) revenue 
A) cost 
B) profit 
C) investment 
D) revenue

Question 8

Which of the following is not a perspective reflected in the balanced scorecard?

Accepted Answer

A) Customer perspective. 
B) Internal operations perspective. 
C) Financial perspective. 
D) Efficiency perspective. 
A) Customer perspective. 
B) Internal operations perspective. 
C) Financial perspective. 
D) Efficiency perspective.

Question 9

What is responsibility accounting?

Accepted Answer

Responsibility accounting involves the r

Question 10

The SEC requires U.S.companies to use XBRL when submitting their filings.

Accepted Answer

A) True 
 B)False

Question 11

The ________ is the managerial report that shows planned cash inflows and outflows for major investments or acquisitions.

Accepted Answer

A) journal voucher list 
B) statement of cash flows 
C) operating budget 
D) capital expenditures budget 
A) journal voucher list 
B) statement of cash flows 
C) operating budget 
D) capital expenditures budget

Question 12

Depreciation expense and bad debt expense are examples of which type of adjusting journal entry?

Accepted Answer

A) Deferrals. 
B) Accruals. 
C) Closing. 
D) Estimates. 
A) Deferrals. 
B) Accruals. 
C) Closing. 
D) Estimates.

Question 13

Adjusting entries that are made to recognize revenue that has been received but not yet earned are classified as

Accepted Answer

A) estimates. 
B) deferrals. 
C) accruals. 
D) revaluations. 
A) estimates. 
B) deferrals. 
C) accruals. 
D) revaluations.

Question 14

The general ledger system of an organization should be designed to serve the information requirements of both internal and external users.This means that the system should support

Accepted Answer

A) producing expansive regular periodic reports to cover all information needs. 
B) the real-time inquiry needs of all users. 
C) producing regular periodic reports and respond to real-time inquiry needs. 
D) access by investors and creditors of the organization to general ledger balances. 
A) producing expansive regular periodic reports to cover all information needs. 
B) the real-time inquiry needs of all users. 
C) producing regular periodic reports and respond to real-time inquiry needs. 
D) access by investors and creditors of the organization to general ledger balances.

Question 15

Marina Filimena is an accountant at Jasmina Hair Products.Marina received the following error message while making an adjusting entry to the general ledger: "The account number referenced in your journal entry does not exist.Create a new account?" This is an example of a

Accepted Answer

A) validity check. 
B) closed loop verification. 
C) zero-balance check. 
D) completeness test. 
A) validity check. 
B) closed loop verification. 
C) zero-balance check. 
D) completeness test.

Question 16

Who generally is responsible for providing the accounting department with information about financing and investing activities to create the appropriate general ledger journal entries?

Accepted Answer

A) The budget department. 
B) The CFO. 
C) The treasurer. 
D) The CEO. 
A) The budget department. 
B) The CFO. 
C) The treasurer. 
D) The CEO.

Question 17

Which of the following user groups generally receive information produced by the general ledger and reporting system?

Accepted Answer

A) internal users 
B) external users 
C) inquiry processing by internal or external users 
D) all of the above 
A) internal users 
B) external users 
C) inquiry processing by internal or external users 
D) all of the above

Question 18

The balanced scorecard attempts to solve what major issue associated with traditional accounting reports?

Accepted Answer

A) Traditional accounting reports focus too narrowly on financial performance. 
B) Traditional accounting reports are not easily understood by non-accountants. 
C) Traditional accounting reports are expensive to produce. 
D) Traditional accounting reports are produced too slowly to provide value. 
A) Traditional accounting reports focus too narrowly on financial performance. 
B) Traditional accounting reports are not easily understood by non-accountants. 
C) Traditional accounting reports are expensive to produce. 
D) Traditional accounting reports are produced too slowly to provide value.

Question 19

Financial statements are prepared in a certain sequence.Which statement is prepared first?

Accepted Answer

A) The adjusted trial balance. 
B) The income statement. 
C) The balance sheet. 
D) The statement of cash flows. 
A) The adjusted trial balance. 
B) The income statement. 
C) The balance sheet. 
D) The statement of cash flows.

Question 20

A listing of journal vouchers by numerical sequence,account number,or date is an example of

Accepted Answer

A) a general ledger control report. 
B) a budget report. 
C) a batch to be processed. 
D) responsibility accounting. 
A) a general ledger control report. 
B) a budget report. 
C) a batch to be processed. 
D) responsibility accounting.

Exam 16: General Ledger and Reporting System

Standard XBRL taxonomies can cover most accounting situations.

XBRL stands for

As responsibility reports are rolled up into reports for higher level executives,they

Explain the benefits of XBRL.

Marina Filimena is an accountant at Jasmina Hair Products.Marina received the following error message while making an adjusting entry to the general ledger: "The amounts debited and credited are not equal.Please correct and try again." This is an example of a

Identify one way "rainbow tables" are often used.

Departments that mostly provide services to other units and charge those units for services rendered should be evaluated as ________ centers.

Which of the following is not a perspective reflected in the balanced scorecard?

What is responsibility accounting?

The SEC requires U.S.companies to use XBRL when submitting their filings.

The ________ is the managerial report that shows planned cash inflows and outflows for major investments or acquisitions.

Depreciation expense and bad debt expense are examples of which type of adjusting journal entry?

Adjusting entries that are made to recognize revenue that has been received but not yet earned are classified as

The general ledger system of an organization should be designed to serve the information requirements of both internal and external users.This means that the system should support

Marina Filimena is an accountant at Jasmina Hair Products.Marina received the following error message while making an adjusting entry to the general ledger: "The account number referenced in your journal entry does not exist.Create a new account?" This is an example of a

Who generally is responsible for providing the accounting department with information about financing and investing activities to create the appropriate general ledger journal entries?

Which of the following user groups generally receive information produced by the general ledger and reporting system?

The balanced scorecard attempts to solve what major issue associated with traditional accounting reports?

Financial statements are prepared in a certain sequence.Which statement is prepared first?

A listing of journal vouchers by numerical sequence,account number,or date is an example of

Conceptual Foundations of Accounting Information Systems

Overview of Transaction Processing and Enterprise Resource Planning Systems

Systems Documentation Techniques

Relational Databases

Computer Fraud

Computer Fraud and Abuse Techniques

Control and Accounting Information Systems

Controls for Information Security

Confidentiality and Privacy Controls

Processing Integrity and Availability Controls

Auditing Computer-Based Information Systems

The Revenue Cycle: Sales to Cash Collections

The Expenditure Cycle: Purchasing to Cash Disbursements

The Production Cycle

The Human Resources Management and Payroll Cycle

Database Design Using the Rea Data Model

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, implementation, and Operation

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