List and explain the six basic files in the general ledger database.
What will be an ideal response?
The general ledger master file is the main file on the general ledger database. It is based on the firm's chart of accounts. Each record is either a separate general ledger account (e.g., sales) or a control account (e.g., the accounts payable control) for one of the subsidiary ledgers.
The general ledger history file contains the same information for prior periods.
The journal voucher file contains all of the journal vouchers processed in the current period.
The journal voucher history file contains journal vouchers for past periods.
The responsibility center file contains the revenues, expenses, and other data for individual responsibility centers.
The budget master file contains budgeted amounts for responsibility centers.
PTS: 1
22. Discuss the primary advantage of XBRL over traditional HTML as a means of on-line reporting of financial information to users.
Online reporting of financial data has become a competitive necessity for publicly traded organizations. Currently, most organizations accomplish this by placing their financial statements and other financial reports on their respective Web sites as HTML (Hyper Text Markup Language) documents. These documents can then be downloaded by users such as the SEC, financial analysts, and other interested parties. The HTML reports, however, cannot be conveniently processed through IT automation. Performing any analysis on the data contained in the reports requires them to be manually entered into the user's information system. The solution to this problem is eXtensible Business Reporting Language (XBRL), which is the Internet standard specifically designed for business reporting and information exchange. The objective of XBRL is to facilitate the publication, exchange, and processing of financial and business information. XBRL documents can thus be downloaded, interpreted, and analyzed using computer software with no additional manual data input necessary.
PTS: 1
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a. Type b. Size c. Author d. Date
When you place objects in order beginning with the object that has the highest value, you are sorting in ____ order.
A. ascending B. reverse C. descending D. lowest
Match each item with a statement below:
A. compiles Java program into Java byte codes B. allows Java byte codes to execute C. presents a bounded environment for a Java program to run within D. the gatekeeper of the JVM E. allows you to associate permissions based upon the source of a loaded class F. monitors references to dynamic memory and releases the memory when there are no longer any references to it G. memory pools holding objects of different ages H. class that allows applications to implement a code-level security policy I. a set of Java objects