Exam 14: General Ledger and Reporting System

Entries to update the general ledger are often documented by which of the following?

The benefits of XBRL include:

What are the four basic activities involved in the general ledger and reporting system?

Cheryl Liao is an accountant at Folding Squid Technologies.While making an adjusting entry to the general ledger,she received the following error message when she tried to save her entry,"The amounts debited and credited are not equal.Please correct and try again." This message was the result of a

To support the strategic decision-making requirements of organizations,a separate database may be created and maintained.The name used for such a database depends on its size.What is the smaller version of such a database called?

The general ledger and reporting system is designed to provide information for which of the following user groups?

Which of the following tasks are accomplished by following the audit trail?

The recording of interest earned on an account balance or wages payable is an example of which type of adjusting journal entry?

Adjusting entries that reflect a change in accounting principle used to value inventories are called

Which of the following would be an effective control for achieving the general control objectives in the general ledger and reporting system?

Journal entries made by either the treasurer or controller should be subject to input edit and processing controls.A check that can be made to ensure that the amount field in a journal entry contains only numeric data is called a __________.

Sales departments are most likely to be evaluated as ______ centers

Bobby Burns,CEO of Maudlin Motors,walked into the office of Tom Sanchez,chief information officer."Tom," he said."We need some way of improving our overall performance.I'm thinking that if all top managers could perform queries on data from the past few years in order to draw conclusions about our strategic direction for the future,we would be on our way." Tom should recommend that Maudlin Motors

Communications technology and the Internet can be used to reduce the time and costs involved in disseminating financial statement information.Users of such financial information still struggle in that many recipients have different information delivery requirements and may have to manually reenter the information into their own decision analysis tools.The ideal solution to solve these problems and efficiently transmit financial information via the Internet is to use

Reconciliation and control reports can help detect whether any errors have been made during the process of updating the general ledger.One reconciliation that indicates whether the sum of debit balances is equal to the sum of credit balances in the general ledger is commonly known as

This report indicates whether the total debits equal the total credits posted to the general ledger.

When a manager uses statistical methods and artificial intelligence to search for patterns in a database,she is performing

A report containing measures that relate to the financial,internal operation,customer,and innovation and learning perspectives of an organization is called a(n)

Budgets and performance reports should be developed on the basis of

What are the control objectives in the general ledger and reporting system?