FINAL EXAM ACG 4401 FAU PINSKER
(STUDY GUIDE. INCLUDES EXAM 1, EXAM
2, QUIZ 2, & CHAPTER 8 TERM MATCHING.)
QUESTIONS WITH LATEST ANSWERS!!
1 of 65
Term
Which is the main purpose for XBRL?
Give this one a try later!
To simplify the training of new To make machine to machine
finance employees. communication more efficient.
, To increase the number of To enhance the visual
manual processes in appeal of financial reports.
accounting.
Don't know?
2 of 65
Term
For good internal control. the accounts payable clerk
should sign the checks.
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True Credit
A process False
Don't know?
3 of 65
Term
The Balance Scorecard approach is advocated (by the book in
the
notes) as a control for which General Ledger and Reporting
Activity?
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, Produce management reports Journal vouchers
Update general ledger Prepare financial statements
Don't know?
4 of 65
Term
In the revenue cycle, which department has the same function
(i.e., authorization, record keeping, and custody ) as Billing and
A/R?
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Payroll Accounting Journal
Journal Vouchers General Ledger
Don't know?
5 of 65
Term
Why is it important to learn/understand documentation?
Give this one a try later!
, Every process symbol should appear between an input and output
symbol, usually the documents or keyboard symbol.
-It helps one understand the quality of internal controls employed
-It can help a new employee understand the new job and its
responsibilities
- It can help an external auditor understand a client's AIS
Higher costs
Management's attitude toward internal control and ethical behavior
have little impact on employee beliefs or actions.
Don't know?
6 of 65
Term
For good internal control, accounting functions should
never handle cash.
Give this one a try later!
Product design True
False Credit
(STUDY GUIDE. INCLUDES EXAM 1, EXAM
2, QUIZ 2, & CHAPTER 8 TERM MATCHING.)
QUESTIONS WITH LATEST ANSWERS!!
1 of 65
Term
Which is the main purpose for XBRL?
Give this one a try later!
To simplify the training of new To make machine to machine
finance employees. communication more efficient.
, To increase the number of To enhance the visual
manual processes in appeal of financial reports.
accounting.
Don't know?
2 of 65
Term
For good internal control. the accounts payable clerk
should sign the checks.
Give this one a try later!
True Credit
A process False
Don't know?
3 of 65
Term
The Balance Scorecard approach is advocated (by the book in
the
notes) as a control for which General Ledger and Reporting
Activity?
Give this one a try later!
, Produce management reports Journal vouchers
Update general ledger Prepare financial statements
Don't know?
4 of 65
Term
In the revenue cycle, which department has the same function
(i.e., authorization, record keeping, and custody ) as Billing and
A/R?
Give this one a try later!
Payroll Accounting Journal
Journal Vouchers General Ledger
Don't know?
5 of 65
Term
Why is it important to learn/understand documentation?
Give this one a try later!
, Every process symbol should appear between an input and output
symbol, usually the documents or keyboard symbol.
-It helps one understand the quality of internal controls employed
-It can help a new employee understand the new job and its
responsibilities
- It can help an external auditor understand a client's AIS
Higher costs
Management's attitude toward internal control and ethical behavior
have little impact on employee beliefs or actions.
Don't know?
6 of 65
Term
For good internal control, accounting functions should
never handle cash.
Give this one a try later!
Product design True
False Credit
