Question 1

Each account in the chart of accounts has a separate record in the general ledger master file.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

All of the following concepts encourage goal congruence except

Accepted Answer

A)  detailed information reporting 
B)  authority 
C)  formalization of tasks 
D)  responsibility 
A)  detailed information reporting 
B)  authority 
C)  formalization of tasks 
D)  responsibility

Question 4

List and explain the six basic files in the general ledger database.

Accepted Answer

The general ledger master file is the ma

Question 5

Standards are the basis for evaluating actual performance.

Accepted Answer

A) True 
 B)False

Question 6

Explain the purpose and contents of the general ledger master file.

Accepted Answer

The general ledger master file is the ma

Question 7

A characteristic of the Management Reporting System (MRS) is

Accepted Answer

A)  the MRS operates in conformity with generally accepted accounting principles 
B)  it is a legal requirement that the MRS be installed and functioning properly 
C)  the MRS is developed by implementing SEC requirements 
D)  the MRS focuses on internal decision-making information 
A)  the MRS operates in conformity with generally accepted accounting principles 
B)  it is a legal requirement that the MRS be installed and functioning properly 
C)  the MRS is developed by implementing SEC requirements 
D)  the MRS focuses on internal decision-making information

Question 8

The _______________________________ principle suggests that management should structure the firm around the work it performs rather than around individuals with unique skills.

Accepted Answer

formalizat

Question 9

The difference between the actual performance and the standard is called the __________________________.

Accepted Answer

The answer of The difference between the actual performance and...

Question 10

Describe the three elements of problem structure. Contrast a structured problem to an unstructured problem. Describe which levels of management typically deal with structured problems and with unstructured problems.

Accepted Answer

Problem structure has three elements: (1

Question 11

Which statement is not true?

Accepted Answer

A)  authority refers to an individual's obligation to achieve desired results 
B)  if an employee is given the responsibility for a task, that employee should be given authority to make decisions within the limits of that task 
C)  the level of detail provided to an employee is a function of the employee's position with the firm 
D)  all of the above are true 
A)  authority refers to an individual's obligation to achieve desired results 
B)  if an employee is given the responsibility for a task, that employee should be given authority to make decisions within the limits of that task 
C)  the level of detail provided to an employee is a function of the employee's position with the firm 
D)  all of the above are true

Question 12

Which file has as its primary purpose to present comparative financial reports on a historic basis?

Accepted Answer

A)  journal voucher history file 
B)  budget master file 
C)  responsibility file 
D)  general ledger history file 
A)  journal voucher history file 
B)  budget master file 
C)  responsibility file 
D)  general ledger history file

Question 13

The Management Reporting System is a nondiscretionary system.

Accepted Answer

A) True 
 B)False

Question 14

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 15

What is a data warehouse?

Accepted Answer

A data warehouse is a relational databas

Question 16

Why is the audit trail necessary?

Accepted Answer

The audit trail is needed for several re

Question 17

Which steps in the Financial Accounting Process are in the correct sequence?

Accepted Answer

A)  record the transaction, post to the ledger, prepare the adjusted trial balance, enter adjusting entries, prepare financial statements 
B)  record the transaction, prepare the unadjusted trial balance, record adjusting journal entries, record closing entries, prepare financial statements 
C)  record the transaction, post to the ledger, record adjusting entries, prepare the unadjusted trial balance, prepare financial statements 
D)  record the transaction, post to the ledger, prepare the adjusted trial balance, prepare financial statements, record closing entries 
A)  record the transaction, post to the ledger, prepare the adjusted trial balance, enter adjusting entries, prepare financial statements 
B)  record the transaction, prepare the unadjusted trial balance, record adjusting journal entries, record closing entries, prepare financial statements 
C)  record the transaction, post to the ledger, record adjusting entries, prepare the unadjusted trial balance, prepare financial statements 
D)  record the transaction, post to the ledger, prepare the adjusted trial balance, prepare financial statements, record closing entries

Question 18

Explain the three types of responsibility centers.

Accepted Answer

Cost centers are organizational units wi

Question 19

What is XML?

Accepted Answer

XML (eXtensible Markup Language) is a me

Question 20

Long-range planning involves

Accepted Answer

A)  planning the marketing and promotion for a product 
B)  presenting department heads with budgetary goals for the next year 
C)  preparing a work force utilization budget for the next quarter 
D)  deciding the optimum size of the firm 
A)  planning the marketing and promotion for a product 
B)  presenting department heads with budgetary goals for the next year 
C)  preparing a work force utilization budget for the next quarter 
D)  deciding the optimum size of the firm

Each account in the chart of accounts has a separate record in the general ledger master file.

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

List and explain the six basic files in the general ledger database.

Standards are the basis for evaluating actual performance.

Explain the purpose and contents of the general ledger master file.

A characteristic of the Management Reporting System (MRS) is

The _______________________________ principle suggests that management should structure the firm around the work it performs rather than around individuals with unique skills.

The difference between the actual performance and the standard is called the __________________________.

Describe the three elements of problem structure. Contrast a structured problem to an unstructured problem. Describe which levels of management typically deal with structured problems and with unstructured problems.

Which statement is not true?

Which file has as its primary purpose to present comparative financial reports on a historic basis?

The Management Reporting System is a nondiscretionary system.

All of the following are examples of programmed reports except

What is a data warehouse?

Why is the audit trail necessary?

Which steps in the Financial Accounting Process are in the correct sequence?

Explain the three types of responsibility centers.

What is XML?

Long-range planning involves

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: Financial Reporting, and Management Reporting Systems

Each account in the chart of accounts has a separate record in the general ledger master file.

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

List and explain the six basic files in the general ledger database.

Standards are the basis for evaluating actual performance.

Explain the purpose and contents of the general ledger master file.

A characteristic of the Management Reporting System (MRS) is

The _______________________________ principle suggests that management should structure the firm around the work it performs rather than around individuals with unique skills.

The difference between the actual performance and the standard is called the __________________________.

Describe the three elements of problem structure. Contrast a structured problem to an unstructured problem. Describe which levels of management typically deal with structured problems and with unstructured problems.

Which statement is not true?

Which file has as its primary purpose to present comparative financial reports on a historic basis?

The Management Reporting System is a nondiscretionary system.

All of the following are examples of programmed reports except

What is a data warehouse?

Why is the audit trail necessary?

Which steps in the Financial Accounting Process are in the correct sequence?

Explain the three types of responsibility centers.

What is XML?

Long-range planning involves

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