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Study Resources (Accounting)

11.The duality association in an REA diagrams signifies that each economic transaction involves two agents. 12.A difference between ER and REA diagrams is that ER diagrams present a static picture of the underlying business phenomena. 13.ER diagrams always label entity names in the singular noun form. 14.When modeling M:M associations, it is conventional.
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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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11.Which types of entities are included in REA diagrams? a.support events b.economic events c.internal agents d.all of the above 12.Which of the following associations would most likely describe the relationship between an internal agent and an economic event: a.1:M b.1:1 c.0:M d.none of the above 13.Which of the following statement is correct? a.The REA model requires that phenomena be characterized in.
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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. This in turn leads to several data management problems. What are.
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TRUE/FALSE 1.Electronic commerce refers only to direct consumer marketing on the Internet. 2.The standard format for an e-mail address is DOMAIN NAME@USER NAME. 3.The network paradox is that networks exist to provide user access to shared resources while one of its most important objectives is to control access. 4.Business risk is the possibility of.
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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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MULTIPLE CHOICE 1.Which statement is NOT true?  REA resources are:  a.assets b.affected by support events c.scarce d.under the control of agents 2.The concept of duality means that a REA diagram must consist of: a.two events, one of them economic the other support b.two agents, one of them internal and the other external c.two resources, one increased and the.
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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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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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MULTIPLE CHOICE 1.Goals of ERP include all of the following except a.improved customer service b.improvements of legacy systems c.reduced production time d.increased production 2.Core applications are a.sales and distribution b.business planning c.shop floor control and logistics d.all of the above 3.Data warehousing processes does not include a.modeling data b.condensing data c.extracting data d.transforming data 4.Which of the following is usually not part of an ERP’s core.
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10.__________________________ refers to the number of subordinates directly under a manager’s control. 11.The difference between the actual performance and the standard is called the __________________________. 12.How does the Management by Exception principle affect the Management Reporting System? 13.For reports to be useful they must have information content. Describe a reporting objective which gives.
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11.Auditors of ERP systems a.need not worry about segregation of duties. b.may feel that the data warehouse is too clean and free from errors. c.find independent verification easy. d.need not worry about system access since the ERP determines it. 12.Legacy systems are a.old manual systems that are still in place. b.flat file mainframe systems developed before client-server.
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6.What are the major exposures in the general ledger/financial reporting system? 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.
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21.What is meant by the OLAP term - Drill-down? 22.What is meant by the OLAP term - Slicing and dicing? 23.What should management do to assess the potential benefits from implementing an ERP 24.Internal efficiency is cited as one reasone for separating the data warehouse from the operational database. Explain. 25.Why are data in.
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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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31.Which procedure will prevent two end users from accessing the same data element at the same time? a.data redundancy b.data replication c.data lockout d.none of the above 32.The advantages of a partitioned database include all of the following except a.user control is enhanced b.data transmission volume is increased c.response time is improved d.risk of destruction of entire database is.
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21.The most serious problem with unnormalized databases is the a.update anomaly b.insertion anomaly c.deletion anomaly d.none of the above 22.The deletion anomaly in unnormalized databases a.is easily detected by users b.may result in the loss of important data c.complicates adding records to the database d.requires the user to perform excessive updates 23.Which statement is correct? a.in a normalized database, data about.
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6.Describe a specific data element, entity, and record type in the expenditure cycle. 7.What is the relationship between a database table and a user view? 8.How does the database approach solve the problem of data redundancy? 9.Explain how linkages between relational tables are accomplished. 10.Explain the basic results that come from the restrict, project,.
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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 .
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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 in a (1:0,1) association? 15.Why are the hierarchical and network models called navigational.
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11.The Data Definition Language a.identifies, for the Database Management System, the names and relationships of all data elements, records, and files that comprise the database b.inserts database commands into application programs to enable standard programs to interact with and manipulate the database c.permits users to process data in the database without the need.
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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? .
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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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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 types, strategic planning, tactical planning, management control and operational control, by the four decision characteristics, time frame, scope,.
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MULTIPLE CHOICE 1.All of the following are basic data management tasks except a.data deletion b.data storage c.data attribution d.data retrieval 2.The task of searching the database to locate a stored record for processing is called a.data deletion b.data storage c.data attribution d.data retrieval 3.Which of the following is not a problem usually associated with the flat-file approach to data management? a.data redundancy b.restricting.
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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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10.Describe the rule for assigning foreign keys in a (1:1) association 11.Explain the relationship between Cardinality and Association. 12.Explain how events, resources and agents are linked in a REA diagram. 13.What are the minimum number and type of event entities that an REA diagram must include? 14.Why would a company adopt the REA approach.
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31.A fundamental principle of responsibility accounting is that a.managers are accountable only for items they control b.a manager’s span of control should not exceed eight people c.structured reports should be prepared weekly d.the information flow is in one direction, top-down 32.Which statement is not true? Responsibility accounting a.involves both a top-down and bottom-up flow of information b.acknowledges.
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4.There are two basic types of management reports–programmed and ad hoc. Describe each and give examples. 5.Describe at least three attributes of an effective report. 6.What is the implication for the Management Reporting System of an organization that implements the formalization of tasks principle? .
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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. .
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4.Explain the three views of a database. 5.Explain a database lockout and the deadlock phenomenon. Contrast that to concurrency control and the timestamping technique. Describe the importance of these items in relation to database integrity. 6.What are the key control implications of the absence of database normalization? .
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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.The phrase “.com” has become an Internet buzz word. It refers to a top-level domain name for communications organizations. 12.The client-server model can only be applied to ring and star topologies. 13. Only two types motivation drive Dos attacks:  1) to punish an organization with which the perpetrator had a grievance; and.
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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 financial statement reporting 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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