Question 1

Extensible Business Reporting Language is based on

Accepted Answer

A) HTML. 
B) TCP/IP. 
C) XML. 
D) XL. 
A) HTML. 
B) TCP/IP. 
C) XML. 
D) XL.

Question 2

Adjusting entries that are made to reflect differences between the actual and recorded value of an asset or a change in accounting principle are called

Accepted Answer

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

Question 3

The posting of adjusting journal entries is the second activity found in the general ledger system.Adjusting entries fall into several categories.An adjusting entry made at the end of an accounting period that reflects the exchange of cash prior to performance of a related event is called a(n)

Accepted Answer

A) accrual entry. 
B) deferral entry. 
C) revaluation entry. 
D) correcting entry. 
A) accrual entry. 
B) deferral entry. 
C) revaluation entry. 
D) correcting entry.

Question 4

Which one of the following dimensions provides measures on how efficiently and effectively the organization is performing key business processes?

Accepted Answer

A) financial 
B) internal operations 
C) innovations and learning 
D) customer perspectives 
A) financial 
B) internal operations 
C) innovations and learning 
D) customer perspectives

Question 5

Which item below is not considered a major input to the general ledger and reporting system?

Accepted Answer

A) summary entries from the major subsystems 
B) reports from managers 
C) adjusting entries 
D) financing and investing activities 
A) summary entries from the major subsystems 
B) reports from managers 
C) adjusting entries 
D) financing and investing activities

Question 6

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

Accepted Answer

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

Question 7

Adjusting entries that are made to recognize depreciation over the period are called

Accepted Answer

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

Question 8

What is a journal voucher file? What is the purpose of this file?

Accepted Answer

A journal voucher is a form on which jou

Question 9

In accounting terminology,the form that documents journal entry updates to the general ledger is called

Accepted Answer

A) a trial balance. 
B) an adjusted trial balance. 
C) a journal voucher. 
D) an accounting update memo. 
A) a trial balance. 
B) an adjusted trial balance. 
C) a journal voucher. 
D) an accounting update memo.

Question 10

Most budgets compare a standard budget amount to actual amounts that reflect the true performance of the organization.The budget standard is often a fixed target; however,given that these amounts are static,the budget does not account for unforeseen changes in the operating environment.A solution to this type of problem is to use a(n)

Accepted Answer

A) operating budget. 
B) capital expenditures budget. 
C) cash flow budget. 
D) flexible budget. 
A) operating budget. 
B) capital expenditures budget. 
C) cash flow budget. 
D) flexible budget.

Question 11

Variances for variable costs will be misleading when the planned output differs from budgeted output.A solution to this problem would be

Accepted Answer

A) calling all costs fixed. 
B) to use flexible budgeting. 
C) better prediction of output. 
D) to eliminate the budgeting process. 
A) calling all costs fixed. 
B) to use flexible budgeting. 
C) better prediction of output. 
D) to eliminate the budgeting process.

Question 12

Depreciation and bad debts expense are examples of which type of adjusting entries?

Accepted Answer

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

Question 13

Which one of the following measures four dimensions of performance?

Accepted Answer

A) human resources accounting 
B) social responsibility accounting 
C) a balanced scorecard 
D) integrated databases 
A) human resources accounting 
B) social responsibility accounting 
C) a balanced scorecard 
D) integrated databases

Question 14

Concerning the reporting environment,which of the following statements is not true?

Accepted Answer

A) Many companies can submit required financial and tax fillings electronically to the SEC and IRS. 
B) Management reports are usually developed in spreadsheets and disseminated either through e-mail or by posting on the company intranet. 
C) For many companies,the electronic dissemination of reports containing financial information has been an efficient process for some time. 
D) Many companies post their financial statements on their corporate web sites. 
A) Many companies can submit required financial and tax fillings electronically to the SEC and IRS. 
B) Management reports are usually developed in spreadsheets and disseminated either through e-mail or by posting on the company intranet. 
C) For many companies,the electronic dissemination of reports containing financial information has been an efficient process for some time. 
D) Many companies post their financial statements on their corporate web sites.

Question 15

The edit check that verifies the ending balance of an account in fact fully reflects the beginning balance and all debit and credit entries made thereafter is referred to as a

Accepted Answer

A) run-to-run total. 
B) completeness check. 
C) closed loop verification. 
D) zero balance check. 
A) run-to-run total. 
B) completeness check. 
C) closed loop verification. 
D) zero balance check.

Question 16

How is a balanced scorecard used to assess organizational performance?

Accepted Answer

The balanced scorecard contains four per

Question 17

Explain the preparation of financial statements as the third step in the general ledger and reporting system.

Accepted Answer

The general ledger collects and reports

Question 18

Corrections are entries made to correct errors found in __________.

Accepted Answer

A) all journals. 
B) special journals. 
C) the general ledger. 
D) the financial statements. 
A) all journals. 
B) special journals. 
C) the general ledger. 
D) the financial statements.

Question 19

What is a general ledger and reporting system?

Accepted Answer

A general ledger and reporting system co

Question 20

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

Accepted Answer

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

Extensible Business Reporting Language is based on

Adjusting entries that are made to reflect differences between the actual and recorded value of an asset or a change in accounting principle are called

The posting of adjusting journal entries is the second activity found in the general ledger system.Adjusting entries fall into several categories.An adjusting entry made at the end of an accounting period that reflects the exchange of cash prior to performance of a related event is called a(n)

Which one of the following dimensions provides measures on how efficiently and effectively the organization is performing key business processes?

Which item below is not considered a major input to the general ledger and reporting system?

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

Adjusting entries that are made to recognize depreciation over the period are called

What is a journal voucher file? What is the purpose of this file?

In accounting terminology,the form that documents journal entry updates to the general ledger is called

Variances for variable costs will be misleading when the planned output differs from budgeted output.A solution to this problem would be

Depreciation and bad debts expense are examples of which type of adjusting entries?

Which one of the following measures four dimensions of performance?

Concerning the reporting environment,which of the following statements is not true?

The edit check that verifies the ending balance of an account in fact fully reflects the beginning balance and all debit and credit entries made thereafter is referred to as a

How is a balanced scorecard used to assess organizational performance?

Explain the preparation of financial statements as the third step in the general ledger and reporting system.

Corrections are entries made to correct errors found in __________.

What is a general ledger and reporting system?

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

Accounting Information Systems

Overview of Business Processes

Systems Development and Documentation Techniques

Relational Databases

Computer Fraud and Security

Control and Accounting Information Systems

Infromation System Controls for Systems Reliability

Auditing Computer-Based Information Systems

Auditing Computer-Based Informtion Systems

The Revenue Cycle: Sales an Cash Collections

The Expenditure Cycle: Purchasing and Cash Disbursements

The Production Cycle

The Human Resources Managementpayroll Cycle

Data Modeling and Database Design

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

Filters

Exam 14: General Ledger and Reporting System

Extensible Business Reporting Language is based on

Adjusting entries that are made to reflect differences between the actual and recorded value of an asset or a change in accounting principle are called

The posting of adjusting journal entries is the second activity found in the general ledger system.Adjusting entries fall into several categories.An adjusting entry made at the end of an accounting period that reflects the exchange of cash prior to performance of a related event is called a(n)

Which one of the following dimensions provides measures on how efficiently and effectively the organization is performing key business processes?

Which item below is not considered a major input to the general ledger and reporting system?

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

Adjusting entries that are made to recognize depreciation over the period are called

What is a journal voucher file? What is the purpose of this file?

In accounting terminology,the form that documents journal entry updates to the general ledger is called

Variances for variable costs will be misleading when the planned output differs from budgeted output.A solution to this problem would be

Depreciation and bad debts expense are examples of which type of adjusting entries?

Which one of the following measures four dimensions of performance?

Concerning the reporting environment,which of the following statements is not true?

The edit check that verifies the ending balance of an account in fact fully reflects the beginning balance and all debit and credit entries made thereafter is referred to as a

How is a balanced scorecard used to assess organizational performance?

Explain the preparation of financial statements as the third step in the general ledger and reporting system.

Corrections are entries made to correct errors found in __________.

What is a general ledger and reporting system?

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

Accounting Information Systems

Overview of Business Processes

Systems Development and Documentation Techniques

Relational Databases

Computer Fraud and Security

Control and Accounting Information Systems

Infromation System Controls for Systems Reliability

Auditing Computer-Based Information Systems

Auditing Computer-Based Informtion Systems

The Revenue Cycle: Sales an Cash Collections

The Expenditure Cycle: Purchasing and Cash Disbursements

The Production Cycle

The Human Resources Managementpayroll Cycle

Data Modeling and Database Design

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

Filters