Chapter 11

Question 1

The general ledger and reporting system consists of the ________ involved in ________ the general ledger and ________ reports.

Answer 1

information processing; updating; creating

Question 2

Which item below is not considered a major input to the general ledger and reporting system?
A) summary entries from the major subsystems
B) reports from managers
C) adjusting entries
D) financing and investing activities

Answer 2

reports from managers

Question 3

Which of the following user groups generally receive information produced by the general ledger and reporting system?
A) internal users
B) external users
C) inquiry processing by internal or external users
D) all of the above

Answer 3

all of the above

Question 4

What system privileges should an employee involved in the general ledger and reporting system be given?

Answer 4

Only the specific privileges necessary to perform an employee’s assigned duties.

Question 5

What control procedure(s) should be used to reduce the risk of the destruction of financial statement master data?
A) Multifactor authentication.
B) Backup and disaster recovery.
C) Encryption.
D) All of the above

Answer 5

Backup and disaster recovery.

Question 6

The balanced scorecard attempts to solve what major issue associated with traditional accounting reports?

Answer 6

Traditional accounting reports focus too narrowly on financial performance.

Question 7

Which of the following is not a perspective reflected in the balanced scorecard?
A) Customer perspective.
B) Internal operations perspective.
C) Financial perspective.
D) Efficiency perspective.

Answer 7

Efficiency perspective