Question 1

Why do many firms no longer use a general journal? What has taken its place?

Accepted Answer

Many firms have replaced a traditional g

Question 2

Financial statements are prepared from the

Accepted Answer

A)  trial balance 
B)  adjusted trial balance 
C)  general ledger 
D)  general journal 
A)  trial balance 
B)  adjusted trial balance 
C)  general ledger 
D)  general journal

Question 3

An income statement is an example of an XBRL instance document.

Accepted Answer

A) True 
 B)False

Question 4

The most common means of making entries in the general ledger is via the journal voucher.

Accepted Answer

A) True 
 B)False

Question 5

All of the following concepts encourage goal congruence except

Accepted Answer

A)  detailed information reporting at all management levels 
B)  authority and responsibility 
C)  formalization of tasks 
D)  responsibility accounting 
A)  detailed information reporting at all management levels 
B)  authority and responsibility 
C)  formalization of tasks 
D)  responsibility accounting

Question 6

What is information overload? How does it affect decision-making?

Accepted Answer

Information overload refers to a situati

Question 7

What type of data is found in the general ledger master file?

Accepted Answer

A)  a chronological record of all transactions 
B)  the balance of each account in the chart of accounts 
C)  budget records for each account in the chart of accounts 
D)  subsidiary details supporting a control account 
A)  a chronological record of all transactions 
B)  the balance of each account in the chart of accounts 
C)  budget records for each account in the chart of accounts 
D)  subsidiary details supporting a control account

Question 8

The decision to enter a new market is an example of

Accepted Answer

A)  strategic planning 
B)  tactical planning 
C)  management control 
D)  operational control 
A)  strategic planning 
B)  tactical planning 
C)  management control 
D)  operational control

Question 9

All of the following are elements of problem structure except

Accepted Answer

A)  certainty 
B)  data 
C)  procedures 
D)  objectives 
A)  certainty 
B)  data 
C)  procedures 
D)  objectives

Question 10

Which statement is not correct? The general ledger master file

Accepted Answer

A)  is based on the firm's chart of account 
B)  contains a record for control accounts 
C)  is an output of the Financial Reporting System (FRS) 
D)  supplies information for management decision making 
A)  is based on the firm's chart of account 
B)  contains a record for control accounts 
C)  is an output of the Financial Reporting System (FRS) 
D)  supplies information for management decision making

Question 11

All of the following are examples of programmed reports except

Accepted Answer

A)  cash flow reports for Division B 
B)  year-to-date local income tax payments made by all employees living in City X and working in City Y 
C)  inventory exception reports for Division G 
D)  equipment utilization reports for Plant M 
A)  cash flow reports for Division B 
B)  year-to-date local income tax payments made by all employees living in City X and working in City Y 
C)  inventory exception reports for Division G 
D)  equipment utilization reports for Plant M

Question 12

What is XML?

Accepted Answer

XML (eXtensible Markup Language)is a met

Question 13

Why is the audit trail necessary?

Accepted Answer

The audit trail is needed for several re

Why do many firms no longer use a general journal? What has taken its place?

Financial statements are prepared from the

An income statement is an example of an XBRL instance document.

The most common means of making entries in the general ledger is via the journal voucher.

All of the following concepts encourage goal congruence except

What is information overload? How does it affect decision-making?

What type of data is found in the general ledger master file?

The decision to enter a new market is an example of

All of the following are elements of problem structure except

Which statement is not correct? The general ledger master file

All of the following are examples of programmed reports except

What is XML?

Why is the audit trail necessary?

The Information System: an Accountants Perspective

Introduction to Transaction Processing

Ethics,fraud,and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part Ii: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct,deliver,and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, program Changes, and Application Controls

Filters

Exam 8: General Ledger,financial Reporting,and Management Reporting Systems

Why do many firms no longer use a general journal? What has taken its place?

Financial statements are prepared from the

An income statement is an example of an XBRL instance document.

The most common means of making entries in the general ledger is via the journal voucher.

All of the following concepts encourage goal congruence except

What is information overload? How does it affect decision-making?

What type of data is found in the general ledger master file?

The decision to enter a new market is an example of

All of the following are elements of problem structure except

Which statement is not correct? The general ledger master file

All of the following are examples of programmed reports except

What is XML?

Why is the audit trail necessary?

The Information System: an Accountants Perspective

Introduction to Transaction Processing

Ethics,fraud,and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part Ii: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct,deliver,and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, program Changes, and Application Controls

Filters