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TRUE/FALSE 1.The most common means of making entries in the general ledger is via the journal voucher. 2.Individuals with access authority to general ledger accounts should not prepare journal vouchers. 3.The journal voucher is the document that authorizes entries to be made to the general ledger. 4.Each account in the chart of accounts has.
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ESSAY 1.How are OLTP and OLAP different? Give examples of their use. 2.Why does the data warehouse need to be separate from the operational databases? 3.If an auditor suspected an “unusual” relationship between a purchasing agent and certain suppliers, how could “drill-down” be used to collect data? 4.Why must an organization expect the implementation.
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21.The formalization of tasks principle suggests that management should structure the firm around the unique skills sets of key individuals. 22.If a manager delegates responsibility to a subordinate, he or she must also grant the subordinate authority to make decisions. 23.Operational control involves motivating managers at all levels to use resources, including.
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13.Explain the relationship between MRP, MRPII and ERP. 14.Explain how CAD can contribute to a firm’s move toward world-class status. 15.Explain how CAM can contribute to a firm’s move toward world-class status. 16.Explain why traditional cost allocation methods fail in a CIM environment. 17.Explain how JIT can reduce inventory. .
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16.Explain the three types of responsibility centers. 17.Describe at least three characteristics of strategic planning decisions and their information requirements. 18.What three elements must be present for a problem to be “structured?” 19.How does management by exception help to alleviate information overload by a manager? 20.What is a data warehouse? .
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ESSAY 1.What are the accounting implications when a firm moves toward world-class status? 2.Contrast the treatment of inventories in the traditional manufacturing environment and the world-class manufacturing environment. 3.Discuss the key segregation of duties that should exist in the traditional manufacturing environment. 4.What are the four categories of business processes as defined as modules.
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6.The textbook refers to four interrelated components of the database concept. Which of the following is not one of the components? a.the Database Management System b.the Database Administrator c.the physical database d.the conceptual database 7.Which of the following is not a responsibility of the Database Management System? a.provide an interface between the users and the physical.
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SHORT ANSWER 1.What is a user view? 2.What do the letters ‘R,’ ‘E,’ and ‘A’ stand for in the term “REA model”? 3.Explain the relationship between operating events, information events, and decision/management events. How is the relationship circular? 4.What questions help identify operating events? 5.Define the following: economic resources, economic events, and economic agents. 6.Classify each.
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11.Data normalization groups data attributes into tables in accordance with specific design objectives. 12.Under the database approach, data is viewed as proprietary or “owned” by users. 13.The data dictionary describes all of the data elements in the database. 14.A join builds a new table by creating links. 15.The deletion anomaly is the least important.
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17.The audit trail fulfills all of the following purposes except a.provides the ability to answer inquiries b.ensures the accuracy of the application software c.fulfills governmental regulations d.offers a means for preventing, detecting, and correcting errors 18.Which best describes a batch process General Ledger System (GLS) a.paper documents are eliminated b.the general ledger master file is updated each.
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SHORT ANSWER 1.Define ERP. 2.Define the term “core applications” and give some examples. 3.Define OLAP and give some examples. 4.What is “bolt-on” software? 5.What is SCM software? 6.What is a data warehouse? 7.What is the “Big-Bang” approach? 8.Describe the two-tier client server model. .
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ESSAY 1.Give three examples that illustrate how cardinality reflects an organization’s underlying business rules. 2.Explain the three types of anomalies associated with database tables that have not been normalized. 3.What are the four elements of the database approach? Explain the role of each. 4.Explain the three views of a database. 5.Explain a database lockout and.
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11.Which types of events are included in entity relationship diagrams? a.operating events b.information events c.decision events d.all of the above 12.Which of the following represents the order of the steps in the preparation of an REA model? a.organize events in order, identify resources and agents, identify links, identify operating events, assign cardinalities b.identify operating events, identify resources.
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11.Inventory control performs all of the following tasks except it a.provides production planning and control with the inventory status report of finished goods b.updates the raw material inventory records c.prepares a materials requisition for each production batch d.records the completed production as an increase to finished goods inventory 12.The storekeeper releases raw materials based on.
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9.Discuss why adherence by accountants to a single, GAAP-based view is inappropriate. 10.Discuss how adopting a value chain perspective reveals advantages of adopting an REA approach to information system development. 11.Discuss the relationship between operating events, information events, and decision/management events. .
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9.List at least three operating events. 10.List at least three information events. 11.List at least three decision/management events. 12.Define the following: operating event, information event, and decision/management event. 13.Distinguish between resources, events, and agents. 14.Why would a company adopt the REA approach to database design? .
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MULTIPLE CHOICE 1.Economic resources possess all of the following characteristics except a.assets b.measure expected future receipts c.scarce d.under the organization’s control 2.The REA approach leads to more efficient operations in all of the following ways except a.identifying non-value-added activities b.storage of both financial and nonfinancial data in the same database c.storage of detailed data to support a wider range.
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7.Why is the audit trail necessary? 8.The _______________________________ principle suggests that management should structure the firm around the work it performs rather than around individuals with unique skills. 9.Employees who are responsible for a task must have the __________________________ to make decisions within the limits of the responsibility delegated. 10.__________________________ refers to the.
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TRUE/FALSE 1.According to the REA philosophy, information systems should support only the needs of accounting professionals. 2.Many believe that the accounting profession should shift away from debits and credits toward providing information that assists decision-making. 3.Modern managers need both financial and nonfinancial information that traditional GAAP-based accounting systems are incapable of providing. 4.The REA.
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TRUE/FALSE 1.The primary goal of installing an ERP system is reducing system maintenance costs. 2.The recommended data architecture for an ERP includes separate operational and data warehouse databases. 3.A closed database architecture shares data easily. 4.ERP systems support a smooth and seamless flow of information across organizations. 5.OLAP stands for on-line application processing. 6.The primary goal.
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21.Which situation violates the segregation of functions control procedure? a.production planning and control is located apart from the work centers b.inventory control maintains custody of inventory items c.cost accounting has custody of and makes entries on cost records d.work centers record direct labor on job tickets 22.All of the following are internal control procedures that.
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11.One benefit of the Management Reporting System is that it can alert management to delays in project implementation. 12.Responsibility refers to an individual’s obligation to achieve desired results. 13.A firm with a wide span of control tends to have relatively more layers of management. 14.The control function entails evaluating a process against a.
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6.What are the key control implications of the absence of database normalization? 7.In a distributed data processing system, a database can be centralized or distributed. What are the options? Explain. 8.What are the characteristics of a properly designed relational database table? 9.Ownership of data in traditional legacy systems often leads to data redundancy..
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21.The big-bang approach involves converting from old legacy systems to the new ERP in one implementation step. 22.In a two-tier architecture approach is used primarily for wide area network (WAN) applications. 23.Data cleansing is a step performed by external auditors to identify and repairing invalid data prior to the audit. MULTIPLE CHOICE 1.Goals of.
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SHORT ANSWER 1.List, in order, the steps in the Financial Accounting Process. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 2.List two duties that the general ledger clerk should not perform. 3.Explain the purpose and contents of the general ledger master file. 4.Explain two types of coding schemes and give examples of their use. 5.Why do many firms no longer use a general.
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21.An ER diagram is a graphical representation of a data model. 22.The term occurrence is used to describe the number of attributes or fields pertaining to a specific entity. 23.Cardinality describes the number of possible occurrences in one table that are associated with a single occurrence in a related table. 24.A table in.
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SHORT ANSWER Use the following words to complete the sentences. Database AdministratorData Dictionary data redundancyIndex Sequential Access Method query languageschema sequential structuresubschema 1._________________________ occurs when a specific file is reproduced for each user who needs access to the file. 2.The conceptual view of the database is often called ____________________. 3.The ____________________ allows users to retrieve and modify data.
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26.Which statement is false? a.The DBMS is special software that is programmed to know which data elements each user is authorized to access. b.User programs send requests for data to the DBMS. c.During processing, the DBMS periodically makes backup copies of the physical database. d.The DBMS does not control access to the database. 27.All of.
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9.What is the client-server model? 10.What is scalability? 11.What is data mining? 12.Why do ERP systems need bolt-on software? Give an example. 13.How can a firm acquire bolt-on software? What are the options? 14.Why does data need to be “cleansed”? 15.What are the basic stages of the data warehousing process? .
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31.Deficiencies of the traditional cost accounting information system include all of the following except a.an emphasis on financial performance b.inaccurate cost allocations c.an emphasis on standard costs d.immediate feedback about deviations from the norm 32.Which statement is not correct? a.an activity driver is a means to measure the activity used by the cost object b.cost object describes.
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SHORT ANSWER 1.Which type of manufacturing creates a homogeneous product through a continuous series of standard procedures? 2.What information is contained in the bill of materials (BOM)? 3.What is the difference between a materials requisition and a purchase requisition? 4.List one authorization control in the traditional manufacturing environment. 5.Explain how Just-In-Time inventory affects setup time.
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11.Core applications are also called OLAP. 12.The client/server model is a form of network technology in which user computers, called clients, access ERP programs and data via a host computer called a server. 13.A data warehouse is a relational or multi-dimensional database that may require hundreds of gigabytes of storage. 14.Drill-down capability is.
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11.Provide a specific example of source data automation. 12.In a traditional manufacturing environment, cost accounting provides independent verification of what information? What are the benefits? 13.How are cost structures fundamentally different between the traditional and CIM environments? 14.What are the key segregation of duties issues in the conversion cycle? 15.Traditional accounting assumes that products.
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TRUE/FALSE 1.Because of network protocols, users of networks built by different manufacturers are able to communicate and share data. 2.Electronic commerce refers only to direct consumer marketing on the Internet. 3.Business to consumer is the largest segment of Internet commerce. 4.The phrase “.com” has become an Internet buzz word. It refers to a top-level.
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ESSAY 1.List and explain the six basic files in the general ledger database. 2.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. 3.Many financial reports produced by organizations are nondiscretionary–publicly traded firms have.
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TRUE/FALSE 1.The database approach to data management is sometimes called the flat file approach. 2.The Database Management System provides a controlled environment for accessing the database. 3.To the user, data processing procedures for routine transactions, such as entering sales orders, appear to be identical in the database environment and in the traditional environment. 4.An.
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11.Discuss the key factors to consider in determining how to partition a corporate database. 12.Distinguish between a database lockout and a deadlock. 13.Replicated databases create considerable data redundancy, which is in conflict with the database concept. Explain the justification of this approach. APPENDIX QUESTION 14.Contrast the navigational databases with relational databases. What is the.
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11.Decision/management events are activities associated with recording, maintaining, and reporting information. 12.Information events are activities that lead to decisions being made. 13.Entity relationship diagrams include operating, information, and decision events. Only operating events are included in an REA model. 14.A data flow diagram is a data modeling tool that enables organizations to view.
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16.Which term is not associated with the relational database model? a.tuple b.attribute c.collision d.relation 17.In the relational database model a.relationships are explicit b.the user perceives that files are linked using pointers c.data is represented on two-dimensional tables d.data is represented as a tree structure 18.In the relational database model all of the following are true except a.data is presented to users.
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10.Explain the basic results that come from the restrict, project, and join functions. 11.Explain the purpose of an ER diagram in database design. 12.What are two types of distributed databases? 13.Describe an environment when a firm should use a partitioned database. 14.Explain how to link tables in (1:1) association. Why may this be different.
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7.Which statement is not correct? The general ledger master file 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 8.What type of data is found in the general ledger master file? a.a chronological record of all.
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11.Cookies are files created by user computers and stored on Web servers. 12.Sniffing is the unauthorized transmitting of information across an Intranet. 13.The client-server model can only be applied to ring and star topologies. 14.The most popular topology for local area networks is the bus topology. 15.A network topology is the physical arrangement of.
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ESSAY 1.List and explain the steps involved in preparing an REA model of a business process. 2.What is the REA model? What does it mean for accountants? 3.How does the REA approach improve efficiency? 4.How do the entity relationship (ER) and the REA models differ? 5.Why is a database preferred to the flat file system.
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16.Describe the three-tier client server model. 17.Why must a data warehouse include both detail and summary data? 18.How does a data warehouse help the external auditor perform the audit? 19.What is the closed database architecture? 20.What is meant by the OLAP term - consolidation 21.What is meant by the OLAP term - Drill-down? 22.What is meant.
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6.What is the implication for the Management Reporting System of an organization that implements the formalization of tasks principle? 7.What are the reasons the companies use coding schemes in their accounting information systems? 8.Compare and contrast the relative advantages and disadvantages of sequential, block, group, alphabetic and mnemonic codes. 9.Contrast the four decision.
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27.All of the following are elements of operational control decisions except a.determining the scope of the activity b.setting operating standards c.evaluating performance d.taking corrective action when necessary 28.In contrast to tactical planning decisions, management control decisions, and operational control decisions, strategic planning decisions usually a.are more focused b.have a shorter time frame c.are unstructured d.have a high degree of.
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8.Which statements about data warehousing is not correct? a.The data warehouse should be separate from the operational system. b.Data cleansing is a process of transforming data into standard form. c.Drill-down is a data-mining tool available to users of OLAP. d.Normalization is an requirement of databases included in a data warehouse. 9.Which statement about ERP installation.
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7.Name and explain the five categories of critical success factors. 8.MRP II integrates product design and the production process with order entry, accounting. and activity based costing. What are some of the benefits? 9.The Just-In-Time (JIT) approach to inventories is regarded as a great advance in inventory management. There are six assumptions.
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