Question 1

Numbers that are used as unique reference identifiers should have which of the following characteristics?

Accepted Answer

A)  Represent the initiation of a transaction 
B)  Derived from externally generated documents 
C)  Represent the completion of a transaction 
D)  Derived from internally generated documents 
E)  Both C and D E 
A)  Represent the initiation of a transaction 
B)  Derived from externally generated documents 
C)  Represent the completion of a transaction 
D)  Derived from internally generated documents 
E)  Both C and D E

Question 2

Production managers usually prefer the use of which measure of performance in reports that cover a short period of time?

Accepted Answer

A)  Financial measures 
B)  Exception measures 
C)  Physical measures 
D)  Comparative measure 
A)  Financial measures 
B)  Exception measures 
C)  Physical measures 
D)  Comparative measure

Question 3

Production managers prefer the use of physical measures of performance rather than monetary measures in reports covering short reporting periods.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following would not be suitable as a reference identifier in an audit trail?

Accepted Answer

A)  Customer invoice 
B)  Document number of checks issued 
C)  Purchase order number 
D)  Internally generated numbers that represent completed transaction 
A)  Customer invoice 
B)  Document number of checks issued 
C)  Purchase order number 
D)  Internally generated numbers that represent completed transaction

Question 5

Which of the following factors influences the frequency of reporting?

Accepted Answer

A)  The type of data reported 
B)  The conciseness of the report 
C)  The length of the report 
D)  The writing ability of the accountant 
A)  The type of data reported 
B)  The conciseness of the report 
C)  The length of the report 
D)  The writing ability of the accountant

Question 6

A reference identifier assigns meaning to various positions in a code.

Accepted Answer

A) True 
 B)False

Question 7

What is a solution to the problem that exception reporting may have the most severe problems appearing on the report's back pages?

Accepted Answer

A)  Record sequencing 
B)  Comparative reporting 
C)  Coding methods 
D)  Responsibility reporting 
A)  Record sequencing 
B)  Comparative reporting 
C)  Coding methods 
D)  Responsibility reporting

Question 8

Explain the meaning of exception reporting.

Accepted Answer

Exception reporting means that only data

Question 9

Generally, the less frequently accounting data are reported, the better.

Accepted Answer

A) True 
 B)False

Question 10

What is an audit trail?

Accepted Answer

An audit trail is a set of pro

Question 11

The more frequently data are reported, the better.

Accepted Answer

A) True 
 B)False

Question 12

16 What does entity coding identify?

Accepted Answer

A)  Master file records 
B)  Transaction event 
C)  Receipt of sales order 
D)  Acceptance of sales order 
A)  Master file records 
B)  Transaction event 
C)  Receipt of sales order 
D)  Acceptance of sales order

Question 13

Which of the following is/are TRUE with regard to XBRL?

Accepted Answer

A) XBRL has tags which provide financial information in a context. 
B) XBRL adds the ability to search across platforms. 
C) XBRL facilitates the handling of financial data and reduces the potential for errors. 
D)  All of these are true statements about XBRL. 
A) XBRL has tags which provide financial information in a context. 
B) XBRL adds the ability to search across platforms. 
C) XBRL facilitates the handling of financial data and reduces the potential for errors. 
D)  All of these are true statements about XBRL.

Question 14

Which of the following tools would allow an auditor to most easily and efficiently compare a client company's financial results with those of its competitors?

Accepted Answer

A)  HTML tagging 
B)  XBRL tagging 
C)  Database management system 
D)  Electronic spreadsheet 
A)  HTML tagging 
B)  XBRL tagging 
C)  Database management system 
D)  Electronic spreadsheet

Question 15

Which of the following would be suitable to use as a reference identifier in an audit trail?

Accepted Answer

A)  The vendor's invoice date 
B)  The vendor's invoice number 
C)  The document number of a check issued 
D)  The date of a check issued 
A)  The vendor's invoice date 
B)  The vendor's invoice number 
C)  The document number of a check issued 
D)  The date of a check issued

Question 16

What is the format the Securities and Exchange Commission (SEC) has mandated for filing financial information?

Accepted Answer

A)  Comma-delimited files 
B)  XML files 
C)  HTML files 
D)  XBRL files 
A)  Comma-delimited files 
B)  XML files 
C)  HTML files 
D)  XBRL files

Question 17

What are the reporting principles discussed in this chapter?

Accepted Answer

Some of the reporting principles discuss

Question 18

Which of the following identifies the organization that maintains the definitions of elements used in XBRL?

Accepted Answer

A)  Namespace 
B)  Taxonomy 
C)  Element 
D)  Instance document 
A)  Namespace 
B)  Taxonomy 
C)  Element 
D)  Instance document

Question 19

Which of the following languages is a financial reporting language developed in part by the accounting profession?

Accepted Answer

A)  Extensible markup language (XML) 
B)  Extensible business reporting language (XBRL) 
C)  Structured query language (SQL) 
D)  Hypertext markup language (HTML) 
A)  Extensible markup language (XML) 
B)  Extensible business reporting language (XBRL) 
C)  Structured query language (SQL) 
D)  Hypertext markup language (HTML)

Question 20

A block code leads an accountant or auditor from a data item's specific location in the accounting information system to its preceding or successor location.

Accepted Answer

A) True 
 B)False

Numbers that are used as unique reference identifiers should have which of the following characteristics?

Production managers usually prefer the use of which measure of performance in reports that cover a short period of time?

Production managers prefer the use of physical measures of performance rather than monetary measures in reports covering short reporting periods.

Which of the following would not be suitable as a reference identifier in an audit trail?

Which of the following factors influences the frequency of reporting?

A reference identifier assigns meaning to various positions in a code.

What is a solution to the problem that exception reporting may have the most severe problems appearing on the report's back pages?

Explain the meaning of exception reporting.

Generally, the less frequently accounting data are reported, the better.

What is an audit trail?

The more frequently data are reported, the better.

16 What does entity coding identify?

Which of the following is/are TRUE with regard to XBRL?

Which of the following tools would allow an auditor to most easily and efficiently compare a client company's financial results with those of its competitors?

Which of the following would be suitable to use as a reference identifier in an audit trail?

What is the format the Securities and Exchange Commission (SEC) has mandated for filing financial information?

What are the reporting principles discussed in this chapter?

Which of the following identifies the organization that maintains the definitions of elements used in XBRL?

Which of the following languages is a financial reporting language developed in part by the accounting profession?

A block code leads an accountant or auditor from a data item's specific location in the accounting information system to its preceding or successor location.

Significance of Accounting Information Systems and the Accountants Role

Accounting Systems Documentation

Essential Elements and Basic Activities of Accounting Systems

Data Flows, Activities, and Structure of Accounting Systems

Internal Control and Risk Assessment

Control Activities

The Financial Process

The Revenue Process

The Purchasing Process

The Inventory Process

Database Structure of Accounting Systems

Developing a Relational Database for an Accounting Information System

Electronic Business

Ais Selection and Implementation

Filters

Exam 5: Reporting Process, Coding Methods, and Audit Trails

Numbers that are used as unique reference identifiers should have which of the following characteristics?

Production managers usually prefer the use of which measure of performance in reports that cover a short period of time?

Production managers prefer the use of physical measures of performance rather than monetary measures in reports covering short reporting periods.

Which of the following would not be suitable as a reference identifier in an audit trail?

Which of the following factors influences the frequency of reporting?

A reference identifier assigns meaning to various positions in a code.

What is a solution to the problem that exception reporting may have the most severe problems appearing on the report's back pages?

Explain the meaning of exception reporting.

Generally, the less frequently accounting data are reported, the better.

What is an audit trail?

The more frequently data are reported, the better.

16 What does entity coding identify?

Which of the following is/are TRUE with regard to XBRL?

Which of the following tools would allow an auditor to most easily and efficiently compare a client company's financial results with those of its competitors?

Which of the following would be suitable to use as a reference identifier in an audit trail?

What is the format the Securities and Exchange Commission (SEC) has mandated for filing financial information?

What are the reporting principles discussed in this chapter?

Which of the following identifies the organization that maintains the definitions of elements used in XBRL?

Which of the following languages is a financial reporting language developed in part by the accounting profession?

A block code leads an accountant or auditor from a data item's specific location in the accounting information system to its preceding or successor location.

Significance of Accounting Information Systems and the Accountants Role

Accounting Systems Documentation

Essential Elements and Basic Activities of Accounting Systems

Data Flows, Activities, and Structure of Accounting Systems

Internal Control and Risk Assessment

Control Activities

The Financial Process

The Revenue Process

The Purchasing Process

The Inventory Process

Database Structure of Accounting Systems

Developing a Relational Database for an Accounting Information System

Electronic Business

Ais Selection and Implementation

Filters