Question 1

The coding system typically used in the general ledger chart of accounts is:

Accepted Answer

A)  serial coding 
B)  hierarchical coding 
C)  block coding 
D)  mnemonic coding 
A)  serial coding 
B)  hierarchical coding 
C)  block coding 
D)  mnemonic coding B

Question 2

A(n)______________________________ process is any business process that accumulates business event data that are then communicated to and processed within the GL.

Accepted Answer

feeder

Question 3

An account in the chart of accounts has the number 7111.Which of the following does the 7 likely represent?

Accepted Answer

A)  Revenues 
B)  sales region 
C)  merchandise sales 
D)  golf merchandise sales 
A)  Revenues 
B)  sales region 
C)  merchandise sales 
D)  golf merchandise sales A

Question 4

______________________________ implies that Generally Accepted Accounting Principles (GAAP)and International financial Reporting Standards (IFRS)will blend together,with differences reconciled,and ultimately we will have one set of standards that can be used worldwide.

Accepted Answer

The answer of ______________________________ implies that Generally Accepted Accounting Principles...

Question 5

A performance report compares actual results with budgeted expectations.

Accepted Answer

A) True 
 B)False

Question 6

XML is an XBRL-based language consisting of a set of tags that are used to unify the presentation of business reporting information into a single format that can be easily read by almost any software package and can be easily searched by Web browsers.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following advises and assists the cost center,profit center,and investment center managers in preparing the budget?

Accepted Answer

A)  the financial reporting officer 
B)  the budgeting department 
C)  the treasurer 
D)  the managerial reporting officer 
A)  the financial reporting officer 
B)  the budgeting department 
C)  the treasurer 
D)  the managerial reporting officer

Question 8

The financial reporting officer typically prepares performance reports.

Accepted Answer

A) True 
 B)False

Question 9

A(n)______________________________ report compares actual results with budgeted expectations.

Accepted Answer

The answer of A(n)______________________________ report compares actual results with budgeted...

Question 10

The managerial reporting officer is responsible for reporting GAAP financial statements.

Accepted Answer

A) True 
 B)False

Question 11

Discuss the following components of the balanced scorecard:

Accepted Answer

Balanced scorecard is a methodology for

Question 12

Which of the following individuals should possess the greatest knowledge of GAAP?

Accepted Answer

A)  managerial reporting officer. 
B)  budgeting department manager 
C)  financial reporting officer. 
D)  managerial reporting officer 
A)  managerial reporting officer. 
B)  budgeting department manager 
C)  financial reporting officer. 
D)  managerial reporting officer

Question 13

The general ledger process is concerned with preparing external financial statements,ensuring they conform to GAAP,generating Web-based forms of key financial statement and related business reporting via the Internet,and supporting the generation of both ad hoc and predetermined business reports.

Accepted Answer

A) True 
 B)False

Question 14

The financial reporting system is also known as the responsibility accounting/reporting system.

Accepted Answer

A) True 
 B)False

Question 15

An instance document is an XBRL document that contains all information,at a given point in time,including tags,about the occurrence of an item.

Accepted Answer

A) True 
 B)False

Question 16

The intent of the ______________________________ is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws,and for other purposes.

Accepted Answer

Sarbanes-O

Question 17

Continuous assurance (continuous auditing)will lead to:

Accepted Answer

A)  fewer financial statement audits 
B)  use of audit modules embedded in ERP systems 
C)  convergence of GAAP and IFRS 
D)  All of the above 
A)  fewer financial statement audits 
B)  use of audit modules embedded in ERP systems 
C)  convergence of GAAP and IFRS 
D)  All of the above

Question 18

Which of the following items is a component of the balanced scoreboard methodology?

Accepted Answer

A)  Customers 
B)  Financial 
C)  Innovation and improvement 
D)  All of the above 
A)  Customers 
B)  Financial 
C)  Innovation and improvement 
D)  All of the above

Question 19

______________________________ is a generalized system for the customized tagging of data to enable the definition,transmission,and interpretation of data over the Internet.It uses predefined tags to let information providers create uniform information for users.

Accepted Answer

The answer of ______________________________ is a generalized system for the...

Question 20

The general ledger master data does not contain:

Accepted Answer

A)  adjusting entry data 
B)  customer number 
C)  business event transaction 
D)  source code field 
A)  adjusting entry data 
B)  customer number 
C)  business event transaction 
D)  source code field

The coding system typically used in the general ledger chart of accounts is:

A(n)______________________________ process is any business process that accumulates business event data that are then communicated to and processed within the GL.

An account in the chart of accounts has the number 7111.Which of the following does the 7 likely represent?

______________________________ implies that Generally Accepted Accounting Principles (GAAP)and International financial Reporting Standards (IFRS)will blend together,with differences reconciled,and ultimately we will have one set of standards that can be used worldwide.

A performance report compares actual results with budgeted expectations.

XML is an XBRL-based language consisting of a set of tags that are used to unify the presentation of business reporting information into a single format that can be easily read by almost any software package and can be easily searched by Web browsers.

Which of the following advises and assists the cost center,profit center,and investment center managers in preparing the budget?

The financial reporting officer typically prepares performance reports.

A(n)______________________________ report compares actual results with budgeted expectations.

The managerial reporting officer is responsible for reporting GAAP financial statements.

Discuss the following components of the balanced scorecard:

Which of the following individuals should possess the greatest knowledge of GAAP?

The general ledger process is concerned with preparing external financial statements,ensuring they conform to GAAP,generating Web-based forms of key financial statement and related business reporting via the Internet,and supporting the generation of both ad hoc and predetermined business reports.

The financial reporting system is also known as the responsibility accounting/reporting system.

An instance document is an XBRL document that contains all information,at a given point in time,including tags,about the occurrence of an item.

The intent of the ______________________________ is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws,and for other purposes.

Continuous assurance (continuous auditing)will lead to:

Which of the following items is a component of the balanced scoreboard methodology?

______________________________ is a generalized system for the customized tagging of data to enable the definition,transmission,and interpretation of data over the Internet.It uses predefined tags to let information providers create uniform information for users.

The general ledger master data does not contain:

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business-Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oesprocess

The Billingaccounts Receivablecash Receipts Barcrprocess

The Purchasing Process

The Accounts Payablecash Disbursements Apcdprocess

The Human Resources Process Hrmanagement and Payroll Processes

Integrated Production Processes IPP

Acquiring and Implementing Accounting Information Systems

Filters

Exam 16: The General Ledger and Business Reporting Glbrprocess

The coding system typically used in the general ledger chart of accounts is:

A(n)______________________________ process is any business process that accumulates business event data that are then communicated to and processed within the GL.

An account in the chart of accounts has the number 7111.Which of the following does the 7 likely represent?

______________________________ implies that Generally Accepted Accounting Principles (GAAP)and International financial Reporting Standards (IFRS)will blend together,with differences reconciled,and ultimately we will have one set of standards that can be used worldwide.

A performance report compares actual results with budgeted expectations.

XML is an XBRL-based language consisting of a set of tags that are used to unify the presentation of business reporting information into a single format that can be easily read by almost any software package and can be easily searched by Web browsers.

Which of the following advises and assists the cost center,profit center,and investment center managers in preparing the budget?

The financial reporting officer typically prepares performance reports.

A(n)______________________________ report compares actual results with budgeted expectations.

The managerial reporting officer is responsible for reporting GAAP financial statements.

Discuss the following components of the balanced scorecard:

Which of the following individuals should possess the greatest knowledge of GAAP?

The general ledger process is concerned with preparing external financial statements,ensuring they conform to GAAP,generating Web-based forms of key financial statement and related business reporting via the Internet,and supporting the generation of both ad hoc and predetermined business reports.

The financial reporting system is also known as the responsibility accounting/reporting system.

An instance document is an XBRL document that contains all information,at a given point in time,including tags,about the occurrence of an item.

The intent of the ______________________________ is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws,and for other purposes.

Continuous assurance (continuous auditing)will lead to:

Which of the following items is a component of the balanced scoreboard methodology?

______________________________ is a generalized system for the customized tagging of data to enable the definition,transmission,and interpretation of data over the Internet.It uses predefined tags to let information providers create uniform information for users.

The general ledger master data does not contain:

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business-Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oesprocess

The Billingaccounts Receivablecash Receipts Barcrprocess

The Purchasing Process

The Accounts Payablecash Disbursements Apcdprocess

The Human Resources Process Hrmanagement and Payroll Processes

Integrated Production Processes IPP

Acquiring and Implementing Accounting Information Systems

Filters