Question 1

A document containing XBRL elements is called a:

Accepted Answer

A)   XBRL Instance Document
B)   XBRL Style Sheet
C)   XBRL Report
D)   XBRL Taxonomy A

Question 2

Name five items that you think would be included in a digital dashboard for EBay.Why are these critical business processes for them?

Accepted Answer

Answers will vary! EBay might want to know that information that it's daily sales,the daily average dollar amount of each sale,some measure of its product mix,the number of new listings,referrals from its web site to other websites,etc.These all seem like critical data for its object of selling products and scooping up margins.

Question 3

A computer-based information system that facilitates business decision-making activities is called a:

Accepted Answer

A)   Data Warehouse
B)   Digital Dashboard
C)   Decision Support System
D)   Data Mart C

Question 4

How would the XBRL style sheets be different for financial analysts as compared to the Internal Revenue Service?

Accepted Answer

The answer of How would the XBRL style sheets be...

Question 5

Since both are regulators,the SEC and the IRS will likely have similar XBRL style sheets for the various XBRL filings.

Accepted Answer

A) True 
 B)False

Question 6

The process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known is called:

Accepted Answer

A)   Data Mart
B)   Data Mining
C)   Data Warehouse
D)   Business Intelligence

Question 7

XBRL (eXtensible Business Reporting Language)is an open,global standard for exchanging financial reporting information.

Accepted Answer

A) True 
 B)False

Question 8

Name five items that you think would be included in a digital dashboard for an organization that you are familiar with (church,sorority,local not-for-profit,etc.)Why are these critical business processes for them?

Accepted Answer

The answer of Name five items that you think would...

Question 9

A collection of information gathered from an assortment of external and operational (i.e.,internal)databases to facilitate reporting for decision making and business analysis is called

Accepted Answer

A)   Business intelligence
B)   Data Warehouse
C)   Digital Dashboard
D)   XBRL

Question 10

How would Apple Computer use a data mart in its marketing area? How does that help designers of the data warehouse know what to include?

Accepted Answer

The answer of How would Apple Computer use a data...

Question 11

XBRL instance documents describe each key data element (e.g.,total assets,accounts,payable,net income,etc.).

Accepted Answer

A) True 
 B)False

Question 12

XBRL Instance Documents define and describe each key data element (e.g.,total assets,accounts,payable,net income,etc.).

Accepted Answer

A) True 
 B)False

Question 13

If data mining may finds a statistical correlation or relationship between two data items,then there exists a plausible relationship between those two data items in the real world.

Accepted Answer

A) True 
 B)False

Question 14

The tool that defines and describes each key data element (e.g.,total assets,accounts,payable,net income,etc.)in XBRL is called _________

Accepted Answer

A)   XBRL specification.
B)   XBRL taxonomy.
C)   XBRL style sheet.
D)   XBRL instance document.

Question 15

Data Mining is a process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known.

Accepted Answer

A) True 
 B)False

Question 16

Why would general economic information (GDP,interest rates,etc.)be included in a data warehouse? Would they be more helpful for some companies than for others?

Accepted Answer

The answer of Why would general economic information (GDP,interest rates,etc.)be...

Question 17

Why is assurance needed on XBRL data? Why will financial analysts need assurance that the XBRL data is correct? Support your answer.

Accepted Answer

The answer of Why is assurance needed on XBRL data?...

Question 18

Data warehouses work together with operational systems to provide necessary insight,particularly in the case of customer relationship management (CRM)and supply chain management (SCM)systems.

Accepted Answer

A) True 
 B)False

Question 19

XBRL style sheets take the instance documents and add presentation elements to make XBRL filings readable by humans.

Accepted Answer

A) True 
 B)False

Question 20

XBRL produces standardized reports and is not customizable.

Accepted Answer

A) True 
 B)False

Exam 9: Reporting Processes and Extensible Business Reporting Language XBRL

A document containing XBRL elements is called a:

Name five items that you think would be included in a digital dashboard for EBay.Why are these critical business processes for them?

A computer-based information system that facilitates business decision-making activities is called a:

How would the XBRL style sheets be different for financial analysts as compared to the Internal Revenue Service?

Since both are regulators,the SEC and the IRS will likely have similar XBRL style sheets for the various XBRL filings.

The process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known is called:

XBRL (eXtensible Business Reporting Language)is an open,global standard for exchanging financial reporting information.

Name five items that you think would be included in a digital dashboard for an organization that you are familiar with (church,sorority,local not-for-profit,etc.)Why are these critical business processes for them?

A collection of information gathered from an assortment of external and operational (i.e.,internal) databases to facilitate reporting for decision making and business analysis is called

How would Apple Computer use a data mart in its marketing area? How does that help designers of the data warehouse know what to include?

XBRL instance documents describe each key data element (e.g.,total assets,accounts,payable,net income,etc.).

XBRL Instance Documents define and describe each key data element (e.g.,total assets,accounts,payable,net income,etc.).

If data mining may finds a statistical correlation or relationship between two data items,then there exists a plausible relationship between those two data items in the real world.

The tool that defines and describes each key data element (e.g.,total assets,accounts,payable,net income,etc.) in XBRL is called _________

Data Mining is a process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known.

Why would general economic information (GDP,interest rates,etc.)be included in a data warehouse? Would they be more helpful for some companies than for others?

Why is assurance needed on XBRL data? Why will financial analysts need assurance that the XBRL data is correct? Support your answer.

Data warehouses work together with operational systems to provide necessary insight,particularly in the case of customer relationship management (CRM)and supply chain management (SCM)systems.

XBRL style sheets take the instance documents and add presentation elements to make XBRL filings readable by humans.

XBRL produces standardized reports and is not customizable.