1) Which activity below is not performed by Human Resources management (HRM)? 2) Which department should have the sole ability to provide information to the AIS about hiring,
terminations, and pay rate changes? 3) Which of the following is generally not a major source of input to a payroll system? C) checks to insurance and benefits providers 4) Who does the payroll system issue checks to? A) employees and to banks participating in direct deposit 5) Experts estimate that, on average, the costs associated with replacing an employee are about ________ the employee's annual salary. C) one and one-half times 6) For recording time spent on specific work projects, manufacturing companies usually use a 7) Which of the following statements
is false regarding the use of incentives, commissions and bonuses in the payroll system? D) All of the above are true. 8) Identify the item below that is not a desired result of an employee bonus systems. A) Employees may recommend unnecessary services to customers in order to exceed set sales quotas and earn a bonus. 9) ________ are used to transmit time and attendance data directly to the payroll processing system. B) Electronic time clocks 10) Payroll deductions fall into the broad categories of
________ and ________. A) payroll tax withholdings; voluntary deductions 11) Which of the following is not
classified as a voluntary deduction? B) social security withholdings 12) Which type of payroll report contains information such as the employees' gross pay,
payroll deductions, and net pay in a multicolumn format? 13) Which type of payroll report lists the voluntary deductions for each employee? 14) Which
type of payroll report includes the details of the current paycheck and deductions as well as year-to-date totals? 15) An effective way an organization can eliminate paper paychecks while maintaining adequate accounting records is to 16) Companies that specialize in processing payroll are known as B) payroll service bureaus. 17) Which organization provides payroll processing as well as other HRM services, like employee benefit design and administration? C) professional employer organization 18) Which of the following is not a benefit of using a payroll service bureau or a professional employer organization? B) increased internal control 19) Many companies offer their employees a "cafeteria" approach to voluntary benefits in which employees can pick and choose the benefits they want. This plan is normally called a(n) C) flexible benefit plan. 20) Pay rate information should be stored in C) the payroll master file. 21) The
payroll transaction file should contain 22) The document that lists each employee's gross pay, payroll deductions, and net pay in a multicolumn format is called 23) As each payroll transaction is processed, the system should also 24)
Direct deposit of employee paychecks is one way an organization can improve efficiency and reduce payroll-processing costs. Which statement regarding direct deposit is false? A) The cashier does not authorize the transfer of funds from the organization's checking account to a payroll checking account. 25) The employer pays a portion of some payroll taxes
and employee benefits. Both the employee and employer pay which benefit or tax listed below? 26) Identify the following item that should contribute to the efficiency of a payroll system. D) direct deposit of checks 27) Which of the following documents would be likely to yield the greatest cost saving by converting from paper to electronic? 34) A growing number of companies require some of their upper level executives to spend time performing job duties of rank-and-file employees. When the CEO of Loews Hotels assumed the role of bellman, he discovered A) that the company's polyester uniform caused him to sweat a great deal. 35) Executive immersion experiences are important because B) employees who have positive attitudes contribute to increasing company profits. 37)
Involving accountants in executive compensation plans is often especially helpful B) in identifying the appropriate metrics to use when linking compensation to performance. 38) Accountants can help executive compensation plan boards A) comply with legal and regulatory requirements. 39) Form 941 A) is filed each quarter to reconcile monthly tax payments with total tax liability for the quarter. 40) A
workforce inventory report B) is used in preparing labor-related reports for government agencies. 41) Professional employer organizations (PEOs) are especially attractive to small and mid-sized businesses for all of the following reasons except D) improved service quality. 1) The sales department administrative assistant has been assigning phone order sales to her brother-in-law, a company sales person. Company policy is to pay commissions only on orders directly received by sales people, not on orders received over the phone. The resulting fraudulent commission payments might best have been prevented by
requiring that A) sales commission statements be supported by sales order forms signed by the customer and approved by the sales manager. ) Because many HRM / payroll master databases typically contain only descriptive information (such as which employees possess which skills), many firms have deployed ________ to more
effectively leverage employees knowledge and skills. B) knowledge management systems 3) Identify the firm below where employees' knowledge is likely to be more
valuable than the value of a company's tangible assets. 5) Knowledge management systems (KMS) permit organizations to A) store employee solutions to specific problems in a shared database. 1) Why is a separate payroll account used to clear payroll checks? A) for internal control purposes, to help limit any exposure to loss by the company 2) The following control can reduce the distribution of fraudulent paychecks. A) Have internal audit investigate unclaimed paychecks. 3) When using
electronic documents, ________ increase(s) the accuracy of data entry. 4) The most vital control in preventing unauthorized changes to the payroll master file is C) segregation of duties between the authorization of changes and the physical handling of paychecks. 5) Which of the following is not a potential effect of inaccurate data on employee time cards? D) inaccurate calculation of overhead costs 6) Which control would be most appropriate to address the problem of inaccurate payroll processing? C) cross-footing of the payroll register 7) The purpose of a general ledger payroll clearing account is A) to check the accuracy and completeness of payroll recording and its allocation to cost centers. 8) A "zero balance check" refers to which of the following control procedures? C) the payroll clearing account shows a zero balance once all entries are posted 9) All of the following are controls that should be implemented in a payroll process, except A) supervisors distribute paychecks since they should know all employees in their department. 10) What is the best control to reduce the risk of losing payroll data? 11) The threat of violation of employment laws relates directly to which activity? 12) What is a potential threat to the specific activity of payroll processing? D) unauthorized changes to the payroll master file 13) The results of an internal audit finds that there is a problem with inaccurate time data being entered into the payroll system. What is an applicable control that can help prevent this event from occurring in the future? B) automation of data collection 14) Which of the following is a control that can be implemented to help prevent paychecks being issued to a "phantom" or "ghost" employee? D) Paychecks should be physically distributed by someone who does not authorize time data or record payroll. 15) The average annual management salary at Iyov Management is $80,000. If the
average turnover rate for employees is ten per year, what is the approximate average annual cost of turnover? 16) Which of the following will limit a firm's potential loss exposure from paycheck forgery? C) a separate payroll bank account 17) Which of the following is a control that addresses the threat of unauthorized changes to the payroll master file? 25) Using financial incentives requires organizations to C) link the payroll system to other cycles to calculate incentive payments. 26) Source data automation is often effective in reducing 27) A payroll clearing account is used to A) check the accuracy of payroll costs. 28) All of the following regarding payroll checks is correct except C) payroll checks should be drawn on the organization's regular bank account(s). 29) Falk Noam is the
internal auditor for Matan Incorporated. Before investigating the HRM / payroll cycle at Matan, Falk decided to read up on the proper segregation of duties regarding payroll disbursement processes. For strongest segregation of duties, the ________ should distribute paychecks. 30) Falk Noam is the internal auditor for
Matan Incorporated. Before investigating the HRM / payroll cycle at Matan, Falk decided to read up on the proper segregation of duties regarding payroll disbursement processes. For strongest segregation of duties, the ________ should record payroll. A) accounts payable department 31) Falk Noam is the internal auditor for Matan Incorporated. Before investigating the HRM / payroll cycle at Matan, Falk decided to read up on the proper segregation of duties regarding payroll disbursement processes. For strongest segregation of duties, the ________ should periodically observe the paycheck distribution process. C) internal audit department 1) The general ledger and reporting system consists of the ________ involved in ________ the general ledger and ________ reports. C) information processing; updating; creating 2) Which item below is not considered a major input to the general ledger and reporting system? 3) Who should provide the adjusting entries in a well-designed general ledger and reporting system? 4) Which of the following user
groups generally receive information produced by the general ledger and reporting system? 5) The general ledger system of an organization should be designed to serve the information requirements of both internal and external users. This means that the system should support C) producing regular periodic reports and respond to real-time inquiry needs. 6) Identify the most correct statement with regard to how the various accounting subsystems update the general ledger. B) Summary journal entries that represent the results of all transactions for a certain time period are used to update the general ledger. 7) When updating the general ledger, sales, purchases, and production are examples of ________ entries, and issuance or retirement of debt and the purchase or sale of investment securities are examples of ________ entries. B) accounting subsystem; treasurer originated 8) Which of the following are used to document entries made to update the general ledger? 9) Not all journal entries affect cash flow. Adjusting entries that reflect
events that have already occurred, but have no effect on cash, are classified as 10) Recording interest earned on an investment is an example of which type of adjusting journal entry? 11)
Identify the adjusting entry that is made at the end of an accounting period to reflect an exchange of cash prior to the performance of a related event is classified as a(n) 12) Depreciation expense and bad debt expense are examples of which type of adjusting journal entry? 13) Adjusting entries that are made to reflect differences between the actual and recorded value of an asset or a change in accounting principle are called 14) Adjusting entries that are made to counteract the effects of errors found in the general ledger are called
15) Corrections are entries made to correct errors found in 16) Immediately after the adjusting entries are posted, the next step in the general ledger and reporting system is
to prepare A) an adjusted trial balance. 17) Financial statements are prepared in a certain sequence. Which statement is prepared last? D) the statement of cash flows 18) A listing of journal vouchers by numerical sequence, account number, or date is an example of A) a general ledger control report. 19) Who generally is responsible for providing the accounting department with information about financing and investing activities to create the appropriate general ledger journal entries? 20) Adjusting entries that are made to recognize revenue that has been received but not yet earned are classified as 21) Adjusting entries that reflect a change in accounting principle used to value inventories are
classified as 1) If you believe not all adjusting entries were posted in the general ledger, you should prepare a general ledger control report listing journal vouchers in 2) If you believe a general ledger account was not adjusted properly or at all, you should prepare a general ledger control report listing journal vouchers in C) general ledger account number order. 3) Which of the following are appropriate controls for the general ledger and reporting system? D) All of the above are appropriate. 4) A type of data entry control that would ensure that adjusting entries are posted to existing general ledger accounts is called a(n) ________ check. 5) One way of ensuring that recurring adjusting journal entries are made each month would be to D) create a standard adjusting journal entry file. 6) Which of the following tasks are facilitated by maintaining a strong and secure audit trail? D) All of the above are facilitated by the audit trail. 7) Marina Filimena is an accountant at Jasmina Hair Products. Marina received the following error message while making an adjusting entry to the general ledger: "The account number referenced in your journal entry does not exist.
Create a new account?" This is an example of a 8) Marina Filimena is an accountant at Jasmina Hair Products. Marina received the following error message while making an adjusting entry to the general ledger: "Your journal entry must be a numeric value. Please reenter." This is an example of a 9) Marina Filimena is an accountant at Jasmina Hair Products. Marina received the following error message while making an adjusting entry to the general ledger: "The amounts debited and credited are not equal. Please correct and try again." This is an example of a 10) Marina Filimena is an accountant at Jasmina Hair Products. Marina received the following error message while making an adjusting entry to the general ledger: "The data you have entered does not include a source reference code. Please enter this data before saving." This is an example of a 13) Identify one way "rainbow tables" are often used. A) to discover plaintext passwords associated with a hash 14) What system privileges should an employee involved in the general ledger and reporting system be given? C) only the specific privileges necessary to perform an employee's assigned duties 15) What control procedure(s) should be used to reduce the risk of unauthorized disclosure of the financial statements? 16) What control procedure(s) should be used to reduce the risk of the destruction of financial statement master data? B) backup and disaster recovery 1) Which of the following statements is not true regarding XBRL? D) XBRL's adoption will require accountants and systems professionals tag data for their clients. 2) The benefits of XBRL include C) Both are benefits of XBRL. 3) Communications technology and the Internet can be used to reduce the time and costs involved in disseminating financial statement information. Users of such financial information still struggle in that many recipients have
different information delivery requirements and may have to manually reenter the information into their own decision analysis tools. The ideal solution to solve these problems and efficiently transmit financial information via the Internet is to use 4) Which of the following statements is not true about an XBRL instance document? A) An instance document includes instruction code as to how the document should be physically arranged and displayed. 5) IFRS is an acronym for what? A) International Financial Reporting Standards 6) Which of the following is true about IFRS? A) There is a global trend towards using IFRS for reporting purposes, though U.S. companies are not currently required to do so. ) Which of the following scenarios will not be allowed under IFRS? A) A landscaping and garden retail store keeps piles of river rock, gravel, paving stones, and small decorative rocks in a fenced area on the side of the store. The store uses the most recent inventory costs when calculating cost of goods sold, since new inventory is piled on top of the older inventory. 8) Which of the following is true about accounting for fixed assets? A) Depreciation expense under IFRS will likely be higher than under GAAP, because acquisitions of assets with multiple components must be separately depreciated under IFRS, whereas under GAAP assets could be bundled and depreciated over the longest of the useful life for any of the components. 10) Identify the year the SEC will require American companies to switch from
U.S.-based GAAP to IFRS as the basis for preparing financial statements. 11) A major way in which IFRS differs from GAAP that will affect the design of a company's general ledger and reporting system is an IFRS
principle known as 12) At a minimum, a switch to IFRS from GAAP will affect companies' accounting information system by C) requiring the creation of additional fields in research and development (R&D) records to capture information about the stage of research and development that costs are incurred in. 13) XBRL stands for C) external business reporting language. 15) Each specific data item in an XBRL document is called a(n) 1) The ________ is the managerial report that shows planned cash inflows and outflows for major
investments or acquisitions. D) capital expenditures budget 2) The operating budget C) depicts planned revenues and expenditures for each organizational unit. 3) Budgets used for internal planning purposes and performance evaluation should be developed on the basis of A) responsibility accounting. 4) Performance reports for cost centers should compare actual versus budget ________ costs. 5) Performance reports for sales departments should compare actual revenue versus budgeted 6) Departments that
mostly provide services to other units and charge those units for services rendered should be evaluated as ________ centers. 7) As responsibility reports are rolled up into reports for higher level executives, they 8) Variances for variable costs will be misleading when the planned output differs from budgeted output. A solution to this problem would be B) to use flexible budgeting. 9) Which of the following balanced scorecard dimensions provides measures on how efficiently and effectively the organization is performing key business processes? 10) Which of the following is not one of the principles of proper graph design for bar charts?
B) Use 3-D rather than 2-D bars to make reading easier.
15) The balanced scorecard attempts to solve what major issue associated with traditional accounting reports? A) Traditional accounting reports focus too narrowly on financial performance. 16) Which of the following is not a perspective reflected in the balanced scorecard? D) efficiency and effectiveness perspective 18) Which type of graph is the most commonly used to display trends in financial data? 19) Which of the following balanced scorecard dimensions provides measures on new
products? C) innovation and learning 1) Which of the following statements about REA modeling and REA diagrams is false? A) REA is an acronym for Resources, Entities, and Agents. 2) The REA data model approach facilitates efficient operations by all the following except A) standardizing source document format. 3) The process of defining a database so that it faithfully represents all aspects of the organization including its interactions with the external environment is called 4) In which stage(s) of the database
design process does data modeling occur? C) in both the systems analysis and design stages 5) A(n) ________ diagram
graphically depicts a database's contents by showing entities and relationships. 6) In creating an entity-relationship diagram, ________ is anything about which an organization wants to collect and store information. 7)
An entity-relationship diagram represents entities as ________ and the relationships between them as lines and ________. 8) An entity-relationship diagram A) can represent the contents of any database. 9) Data modeling is an element of 12) In which stage(s) of the database design process is the completed data model used? D) neither the systems analysis nor the design stages 13) In which stage(s) of the database design process should accountants participate? D) in all of the stages above 14) With regards to the database design process, accountants may provide the greatest value to their organization by participating in 17) It is industry standard to model relationships as ________ in entity-relationship diagrams. D) there is no industry standard 18) It is industry standard to model attributes as ________ in entity-relationship diagrams. D) There is no industry standard. 1) The REA data model B) was developed specifically for use in designing accounting information systems. 2) Which of the following is not one of the rules in creating an REA data model? D) All of the above are important rules. 3) Which is a true statement about the REA data model? A) The REA data model classifies entities into three distinct categories. 4) Relationships that affect the quantity of a resource are sometimes referred to as ________ relationships. 5) The "give" event represents an activity which C) reduces the organization's stock of a resource that has economic value. 6) The "get" event represents an activity which B) increases the organization's stock of an economic resource. 8) REA models are usually depicted in which diagramming form? A) entity-relationship diagrams 9) Identify the item below that would be classified as a resource by the REA data model. A) an IOU from a customer 10) Identify the item below that would be classified as an event by the REA data model. 11) Identify the item below that would be
classified as an agent by the REA data model. 12) What is the minimum number of agents that must participate in each REA event? 13) What is the minimum number of external agents that must participate in each REA event? 14) Assume that you are looking at a REA diagram that depicts only one event. Which of the following must be on the REA diagram? 15) Identify the notation often used to represent cardinality information. 16) Identify the notation below that is not used to represent cardinality information. 17) Every citizen in the United States has one social security number, but no two citizens have the same social security number. Thus, the cardinality that exists between social
security numbers and citizens is 18) Every person in the world has a birthdate, but no person has more than one birthdate. Thus, the cardinality that exists between birthdate and people is 19)
Every person in the world can have more than one friend, and each person in the world can be a friend to more than one person. Thus, the cardinality that exists between friends and people is 1) What is the standard cardinality pattern for a relationship between an event and an agent? 2) An REA diagram must link every event to at least one ________ and two ________. 3) Each event in an REA model will in most cases have at least one ________ agent and one ________ agent involved with the event. 4) Which of the following statements is true about the development of an REA model? B) The objective is to model basic value-chain activities. 5) The first step in developing an REA diagram for a specific transaction cycle begins with identifying 6) Identify the statement below that is false with respect to cardinalities. D) The maximum cardinality can be zero, one, or many. 7) Identify the minimum cardinality of any REA diagram relationship. 8) The maximum cardinality of any REA diagram relationship is 9) How many types of relationships are possible between entities? 10) Identify the most likely relationship where cardinalities have zero minimums and N maximums. C) event-event relationship 11) Which of the following statements is false regarding REA diagrams? D) Redrawing an REA diagram several times during development is uncommon. 1) Integrating separate REA diagrams developed for
individual transaction cycles into a single, comprehensive enterprise-wide data model D) All of the above are true. 2) An integrated REA diagram merges multiple copies of ________ and ________ entities but retains multiple copies of ________ entities. A) resource; event; agent 3) An integrated REA diagram could contain multiple copies of 4) An integrated REA diagram merges multiple copies of some entities in order to B) maximize the legibility of the diagram by avoiding the need to have relationship lines cross one another. 5) Combining REA diagrams
for individual transaction cycles into a single, enterprise-wide model adds two more rules to the three basic principles for drawing REA diagrams. Which of the following is not one of those two new rules? C) If a specific event can be linked to more than one other type of event, but cannot be linked simultaneously to all of those other events, then the maximum cardinality between that event and every other event with which it may be associated must be 0. 6) Which of the following statements is not true with regards to a correctly drawn
enterprise-wide REA diagram? C) Events can only be merged if they share the same resources and events. 7) Which of the below statements is false with respect to REA diagrams for individual transaction cycles? D) They show both how resources are acquired and how they are used. 8) Which of the statements below is false with respect to enterprise-wide REA diagrams? D) All of the above are true. 9) When combining two REA diagrams by merging common entities, changes in the cardinality of the merged entity is needed when it is a(n) 10) Integrating separate REA diagrams into a single comprehensive enterprise-wide model of the organization requires understanding what the ________ in each separate diagram reveal about the organization's business policies and activities. 11) When integrating separate REA
diagrams, A) common resources are placed between the events that affect them. 12) Which entity is most likely to be part of both the revenue cycle and the expenditure cycle? 13) Which entity is most likely to be part of both the payroll cycle and the expenditure cycle? 14) Which entity is most likely to be part of both the payroll cycle and the revenue cycle? 15) Which entity is most likely to be part of the payroll cycle, expenditure cycle, and the revenue cycle? 16) Which of the following is a redundant entity that would be merged when two cycles are combined? 17) In an integrated REA diagram, every event must be linked to
18) In an integrated REA diagram, every resource must be must be linked to 19) In an integrated REA diagram, every agent must be must be linked to 21) When integrating multiple REA diagrams into an integrated REA diagram, merging redundant resources C) never affects minimum cardinalities associated with the merged event. 22) In an REA diagram, resource entities A) can be linked to event entities in Business Cycle A and to event entities in Business Cycle B. 23) When integrating multiple REA diagrams into an integrated REA diagram, to merge an event that appears in both business cycle REA diagrams, A) the event that appears in both business cycle REA diagrams may be linked to either an event that is part of one business cycle or to an event that is part of another business cycle. 1) The primary key for a Purchase-Inventory table that consists of the Purchase Order Number and the Inventory Item Number, is known as a 2) When using an REA diagram to develop a database, a many-to-many relationship must be D) broken into two, one-to-many relationships. 3) The type of relationship between two entities is determined by A) maximum cardinalities only. 4) Which of the following is not one of the steps in implementing an REA diagram in a relational database? A) Implement many-to-many relationships with foreign keys. 5) Which of the following is not one of the three steps to implementing an REA diagram in a relational database? C) Link every event to at least one resource. 6) Why might the same REA diagram result in different relationship cardinalities? A) Different organizations might have different business policies. 7) What is the first step to
implementing an REA diagram in a relational database? D) Use foreign keys to implement one-to-one and one-to-many relationships. 8) Which of the following is true with regards to REA diagrams and relational databases? D) The design of a relational database is specific to the organization being modeled. 9) Which of the following is false with regards to creating database tables from an REA diagram? C) To reduce confusion, table names should not duplicate REA diagram entities' names. 10) When assigning attributes to each table, D) the database designer must do all of the above. 11) The primary key for M:N relationship tables B) always consists of two attributes. 12) Attributes other than the primary key are 13) Which of the statements below is false with regards to the tables for M:N relationships? C) Single attribute primary keys may be used. 14) Which of the statements below is false with regards to creating database tables from an REA diagram? D) All of the above are true. 15) Which of the following is not part of a "final accuracy check"
when creating relational tables from an REA diagram? B) Every event must be linked to at least one resource. 16) Concatenated keys are D) required to implement M:N relationships. 17) How many tables are needed to implement an REA data model that has six distinct entities, three M:N relationships and four 1:N relationships in a relational database? 18) How many tables are
needed to implement an REA data model that has five distinct entities, two M:N relationships and three 1:N relationships in a relational database? 19) Which table is most likely to have a concatenated key? 22) Which of the following attributes would
typically be included in the table that stores data about the Customer entity in a relational database? 23) In a relational database, which of the following attributes would typically be included in the table that stores data about the Vendor entity? 24) In a relational database, which of the following attributes would typically be represented by a foreign key in the table that stores data about a Receive Inventory entity? 25) In a relational database, which of the following attributes would typically be represented by a foreign key in the
table that stores data about a Disburse Cash entity? Which of the following would not be an attribute in the Purchases table? A) address where purchase was made 32) Constructing a well-structured, well-developed REA diagram eliminates which anomaly problem(s)? 33) How many tables are needed to implement an REA data model that has four distinct entities, three M:N
relationships and one 1:N relationships in a relational database? 34) How many tables are needed to implement an REA data model that has three distinct entities, two M:N relationships and two 1:N relationships in a relational database? 35) Identify the attribute below that would not make a
good primary key. 36) From the choices below, identify the attribute below that would make the best primary key. D) customer telephone number 37) Rebus Fashions provides haircuts to men and women. Rebus uses an REA database to record information that is important to the firm. Rebus has a table named "Employee" where it keeps information about its hair stylists. Identify the attribute below that most likely does not belong in the Employee table. C) Number of haircuts provided by a stylist on a given day 38) Rebus Fashions provides haircuts to men and women. Rebus
uses an REA database to record information that is important to the firm. Rebus has a table named "Customer" where it keeps information about its customers. Identify the attribute below that most likely does not belong in the Customer table. D) All of the above are appropriate attributes for the Customer table. 39) Rebus Fashions provides haircuts to men and women. Rebus uses an REA database to record information that is important to the firm. Rebus has an M:N table named "Customer-Sale" where it keeps information about customer sales. Identify the attribute below that most likely does not belong in the Customer-Sale
table. 40) Rebus Fashions provides haircuts to men and women. Rebus charges $10 per haircut, no matter what type of haircut the customer selects. Rebus uses an REA database to record information that is important to the firm. Rebus has an M:N table named "Customer-Sale" where it
keeps information about customer sales. Identify the attribute below that most likely does not belong in the Customer-Sale table. 1) Nonfinancial information should be collected because 2) When comparing REA diagrams used to design an AIS with a traditionally designed AIS, B) similar information is present as in a traditional AIS, but stored in a different format. 3) Which of the following is/are true with regards to using REA diagrams to retrieve information from a database? 4) Much of the information about an
organization's assets that is traditionally recorded in ledgers is stored in ________ tables in an REA-based relational database. 5) In an REA-based relational database, the information normally found in a ________ is contained in the tables used to record data about ________. 6) Which of the following is false with regards to REA models? B) Accounts such as Accounts Receivable show up as entities in the REA model 7) Because information about temporal imbalances between two ________, such as accounts receivable and accounts payable, is needed so frequently, such
calculated values are sometimes stored as ________ in the appropriate tables. 8) Which of the statements below is false with regards to generating financial statements from an REA-based relational database? C) It is unnecessary to understand the REA data model to know which tables need to be included in each query to generate the correct answers to financial statement questions. 9) Which of the statements below is false when comparing the REA model to the traditional AIS model? D) Accounts in the traditional AIS are analogous to resources in the REA-based relational database. 10) The major benefits of using the REA model as the basis for designing an AIS include all of the following except D) the REA data model reduces the need for accountants to understand the underlying accounting journals and ledgers. 11) Information traditionally found in journals is stored where in an REA database? 12) A query that extracts, for a given time period, the total amount of all sales events for which there is no corresponding receive cash event will yield D) an accounts payable journal. 13) A query that extracts, for a given time period, all sales events for which there is no corresponding receive cash event on the date of the sales event will yield B) a credit sales journal. 14) A query that extracts, for a given time period, all purchases for which there is no corresponding disburse cash event will yield D) an accounts payable journal. 18) Which of the following elements found in a traditional AIS system are not represented as entities in an REA relational
database, but rather must be retrieved through the use of queries? 19) In a relational database designed according to the REA model, where is information about transactions stored?
20) In a relational database designed according to the REA model, where is information about an organization's liabilities generally stored? 21) In a relational database designed according to the REA model, where is information about accounts receivable stored? |