CH 10 AIS

36. Data warehouses that focus on facilitating managerial accounting needs and/or management by exception, can be called: A. Financial Reporting Systems. B. Data Mining. C. Customer Relationship Management Systems. D. Decision Support Systems.

D. Decision Support Systems.

42. Which of the following metrics would be least likely to show up on a Digital Dashboard? A. Accumulated depreciation for the previous year. B. Month-to-date sales. C. Budget variances. D. Number of accident-free days.

A. Accumulated depreciation for the previous year.

48. Which of the following best describes a reason that companies would want assurance on their XBRL filings? A. Companies may begin to tag XBRL filings in more detail than is currently disclosed, introducing new information to investors. B. The SEC requires assurance on XBRL filings. C. XBRL International mandates assurance for all XBRL filings using current taxonomies. D. Statement on Auditing Standards number 32 mandates assurance on XBRL filings.

A. Companies may begin to tag XBRL filings in more detail than is currently disclosed, introducing new information to investors.

37. Business Intelligence is a technique that frequently makes use of all of the following except: A. Spear Phishing. B. Databases. C. Web crawlers. D. Data warehouses.

A. Spear Phishing.

40. In addition to finding statistical correlations, proper application of Data Mining techniques should include which of the following? A. Good use of the REA framework. B. Professional judgment. C. Use of the most current XBRL taxonomy. D. Digital dashboards.

B. Professional judgment.

45. The SEC's rule titled "Interactive Data to Improve Financial Reporting" resulted in which of the following? A. XBRL International now creates yearly taxonomies for XBRL filing. B. Publicly traded companies must now format their financial statements using XBRL. C. U.S. banks must submit their quarterly "Report of Condition and Income" using XBRL. D. Updated the XBRL specification to the most current version.

B. Publicly traded companies must now format their financial statements using XBRL.

34. Which of the following is often used as the main repository of a company's historical data (i.e., its corporate memory)? A. The operational system. B. The data warehouse. C. The XBRL instance document. D. Its digital dashboard.

B. The data warehouse.

41. Data mining may uncover relationships in which no causality should be implied. In these cases, which of the following phases would be most appropriate? A. "A improves B." B. "A has an impact on B." C. "A is associated with B." D. "A enhances B."

C. "A is associated with B."

35. Before data from multiple sources can be loaded into the data warehouse, which of the following activities must be performed? A. The company must obtain explicit permission from all public and private data sources before their data can be used in the data warehouse. B. Operational system reports must be run, as the extraction process that loads the data warehouse usually deletes the data from the operational system. C. Data inconsistencies must be removed so that the warehouse has homogeneous data for analysis and reporting purposes. D. The operational system must create and file the appropriate XBRL instance document with the SEC.

C. Data inconsistencies must be removed so that the warehouse has homogeneous data for analysis and reporting purposes.

39. When using a Data Mining approach for business analysis, it is important to remember which of the following? A. All relationships between data items mean that one item has an impact on the other. B. Data patterns and trends must be obvious before we can consider them in the business decision making process. C. Relationships between data items do not necessarily mean that one causes the other. D. Data mining should be performed in the operational system, not the data warehouse.

C. Relationships between data items do not necessarily mean that one causes the other.

46. Which of the following best describes the use of XBRL style sheets? A. Style sheets determine which elements may be used when companies submit their XBRL filing. B. Style sheets are another name for XBRL instance documents. C. Style sheets allow for presentation of selected data from XBRL documents in a way that humans can read. D. Style sheets determine the formatting of numbers and text in the XBRL taxonomy.

C. Style sheets allow for presentation of selected data from XBRL documents in a way that humans can read.

38. Data Mining uses which of the following approaches to analyze data and find new patterns and trends? A. Data normalization. B. Data scrubbing. C. Decision Support Systems. D. Sophisticated statistical techniques.

D. Sophisticated statistical techniques.

44. Which of the following is the least likely example of how a specialized digital dashboard might be used? A. To track construction projects. B. To track network security. C. To track manufacturing operations. D. To track fixed asset depreciation.

D. To track fixed asset depreciation.

47. Which of the following is not one of the types of XBRL taxonomies discussed in the text? A. Taxonomies for different countries' financial reporting rules and regulations. B. XBRL GL Taxonomy. C. XBRL Call Report Taxonomy. D. XBRL ERP Taxonomy.

D. XBRL ERP Taxonomy.

31. The process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known is called: a. Data Mart b. Data Mining c. Data Warehouse d. Business Intelligence

b. Data Mining

20. A collection of information gathered from an assortment of external and operational (i.e., internal) databases to facilitate reporting for decision making and business analysis is called: a. Business intelligence b. Data Warehouse c. Digital Dashboard d. XBRL.

b. Data Warehouse

25. The stated advantages of XBRL GL include: a. Flexibility b. Wide acceptance by the market c. Scalability d. Network Effects

a. Flexibility

21. The steps in business intelligence include: a. Gather Information, Analyze Data for Patterns, Make Decision b. Analyze Data for Patterns, Gather Information, Make Decision c. Create Data Warehouse, Query Data Warehouse, Make Decision d. Create Data Warehouse, Analyze Data for Patterns, Make Decision

a. Gather Information, Analyze Data for Patterns, Make Decision

30. A document containing XBRL elements is called a(n): a. XBRL Instance Document b. XBRL Style Sheet c. XBRL Report d. XBRL Taxonomy.

a. XBRL Instance Document

27. XBRL stands for a. eXtensible Business Reporting Language b. eXtensible Behavioral Reporting Language c. eXtensible Book Reporting Language d. eXtensible Basic Reporting Language

a. eXtensible Business Reporting Language

23. The first person to propose using XML be used as a means to electronically deliver financial information was: a. Albert Gore b. Charles Hoffman c. Manuel Sanchez d. Kevin Kobelsky

b. Charles Hoffman

24. XBRL GL, or XBRL Global Ledger Taxonomy, is different from XBRL US GAAP because it facilitates: a. Efficient communication between the firm and financial analysts. b. Efficient communication within a firm. c. Efficient communication between the firm and its suppliers. d. Efficient communication between the firm and its customers.

b. Efficient communication within a firm.

18. A data warehouse may include: a. An XBRL style sheet b. General Economic Information c. A digital Dashboard d. An iPad Mini

b. General Economic Information

32. The tool that defines and describes each key data element (e.g., total assets, accounts, payable, net income, etc.) in XBRL is called _________: a. XBRL specification. b. XBRL taxonomy. c. XBRL style sheet. d. XBRL instance document.

b. XBRL taxonomy.

22. Digital Dashboards track which of the following in a user-friendly way: a. Airplane speed b. Critical business failures c. Critical business processes d. Critical business projects

c. Critical business processes

33. A computer-based information system that facilitates business decision-making activities is called a : a. Data Warehouse b. Digital Dashboard c. Decision Support System d. Data Mart.

c. Decision Support System

28. XBRL does all of the following except: a. Enhances speed and accuracy of business reporting. b. Provides major benefits in the preparation, analysis and communication of business information. c. Serves as a universal standard for financial reporting information in the individual investor community. d. Facilitates business reporting of financial and nonfinancial data.

c. Serves as a universal standard for financial reporting information in the individual investor community.

Ford may use business intelligence: a. To track the cost of parts on its vehicles. b. To monitor the price of their pilots and flight attendants c. To analyze indicators of quality issues to pinpoint potential machinery failures in its assembly plants d. As inputs for its tax reporting system.

c. To analyze indicators of quality issues to pinpoint potential machinery failures in its assembly plants

26. XBRL assurance is generally expected to include all of the following except: a. Assurance that the most current, standardized XBRL taxonomy is used. b. Assurance that the underlying financial and nonfinancial data that is used in XBRL tagging is reliable. c. Assurance that the XBRL tagging is accurate and complete. d. Assurance that reports include all relevant financial and nonfinancial information.

d. Assurance that reports include all relevant financial and nonfinancial information.

17. Data mining is considered a technique of a. Data Warehousing b. Project Management c. Data Martian d. Business Intelligence

d. Business Intelligence

29. In February 2009, the _____________ passed the rule requiring all large domestic publicly traded firms to begin formatting their financial statements using XBRL. a. Financial Accounting Standards Board. b. International Accounting Standards Board. c. American Institute of Certified Public Accountants. d. Securities and Exchange Commission.

d. Securities and Exchange Commission.