Exam 13: Transaction Cycle The General Ledger and Financial Reporting Cycle

Which is the most likely cause of a large variance between budget estimates and actual results if the company is well managed with efficient internal controls?

(Multiple Choice)

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Question 21

Which of the following statements regarding budgets is true?

(Multiple Choice)

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Question 22

Typical budget decisions do not include:

(Multiple Choice)

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Question 23

The general ledger and financial reporting cycle ________.

(Multiple Choice)

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Question 24

Vendor invoices from the expenditure cycle flow into the general ledger and financial reporting cycle through:

(Multiple Choice)

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Question 25

Which of the following is NOT a KPI that can be used to measure the objective "To ensure all reports generated are well designed and contain relevant and accurate data"?

(Multiple Choice)

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Question 26

Transactional data is summarised by account code in the general ledger.The codes are then used in the reporting structure.What is the name given to the list of available codes?

(Multiple Choice)

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Question 27

What are the common controls for controlling errors in journal entries during the preparation of adjustment journals?

(Essay)

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Question 28

What are the considerations when planning budget breakdown?

(Essay)

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Question 29

An unfavourable variance between budgeted and actual data may indicate:

(Multiple Choice)

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Question 30

Which of the following regarding the setting of budget targets is true?

(Multiple Choice)

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Question 31

The general ledger and financial reporting cycle initially extracts existing transactional data from:

(Multiple Choice)

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Question 32

Give at least three example KPIs to measure the objective "To ensure all adjusting journal entries are accurately prepared and independently authorised"

(Essay)

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Question 33

Process performance should be measured relative to:

(Multiple Choice)

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Question 34

What are the typical risks encountered during the production of management reports and what are the relevant common controls?

(Essay)

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Question 35

Which of the following is NOT a KPI that can be used to measure the objective "To accurately and completely determine and record budget estimates"?

(Multiple Choice)

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Question 36

The general ledger and financial reporting cycle ends when:

(Multiple Choice)

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Question 37

What are the strategic implications of the general ledger and financial reporting cycle?

(Essay)

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Question 38

In terms of the general ledger and financial reporting cycle,which of the following sequences is in the correct order?

(Multiple Choice)

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Question 39

In the general ledger and financial reporting cycle:

(Multiple Choice)

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Question 40

Showing 21 - 40 of 60

Which is the most likely cause of a large variance between budget estimates and actual results if the company is well managed with efficient internal controls?

Which of the following statements regarding budgets is true?

Typical budget decisions do not include:

The general ledger and financial reporting cycle ________.

Vendor invoices from the expenditure cycle flow into the general ledger and financial reporting cycle through:

Which of the following is NOT a KPI that can be used to measure the objective "To ensure all reports generated are well designed and contain relevant and accurate data"?

Transactional data is summarised by account code in the general ledger.The codes are then used in the reporting structure.What is the name given to the list of available codes?

What are the common controls for controlling errors in journal entries during the preparation of adjustment journals?

What are the considerations when planning budget breakdown?

An unfavourable variance between budgeted and actual data may indicate:

Which of the following regarding the setting of budget targets is true?

The general ledger and financial reporting cycle initially extracts existing transactional data from:

Give at least three example KPIs to measure the objective "To ensure all adjusting journal entries are accurately prepared and independently authorised"

Process performance should be measured relative to:

What are the typical risks encountered during the production of management reports and what are the relevant common controls?

Which of the following is NOT a KPI that can be used to measure the objective "To accurately and completely determine and record budget estimates"?

The general ledger and financial reporting cycle ends when:

What are the strategic implications of the general ledger and financial reporting cycle?

In terms of the general ledger and financial reporting cycle,which of the following sequences is in the correct order?

In the general ledger and financial reporting cycle:

Systems Fundamentals

Systems Characteristics and Considerations

Database Concepts I

Database Concepts II

XBRL Reporting

System Mapping and Documentation

Internal Controls I

Internal Controls II

Transaction Cycle The Revenue Cycle

Transaction Cycle The Expenditure Cycle

Transaction Cycle The Production Cycle

Transaction Cycle The HR Management and Payroll Cycle

Systems Development

Auditing of Accounting Information Systems

Ethics, fraud and Computer Crime

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