Chapter 9 Assessment

 

1.  Data warehouses that focus on facilitating managerial accounting needs and/or management by exception, can be called:

 

Data Mining.

Decision Support Systems.

Financial Reporting Systems.

Customer Relationship Management Systems.

 

2.  A data warehouse may include:

An XBRL style sheet

A digital Dashboard

General Economic Information

Ciphertext

 

3. 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:

XBRL.

Business intelligence.

Data Warehouse.

Digital Dashboard.

 

 

4.  Business Intelligence is a technique that frequently makes use of all of the following except:

Data warehouses.

Web crawlers.

Spear Phishing.

Databases.

 

 

5.   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 is associated with B.”

“A improves B.”

“A has an impact on B.”

“A enhances B.”

 

6.   In addition to finding statistical correlations, proper application of Data Mining techniques should include which of the following?

Digital dashboards.

Good use of the REA framework.

Use of the most current XBRL taxonomy.

Professional judgment.

 

7. Ford may use business intelligence for all of the following except:

 

Compare competitor vehicle sales to Ford vehicle sales.

Prepare activity models using BPM.

Review website activity.

Analyze the correlation of gas prices to vehicle sales.

 

8.  Which of the following is not an example of how a company may use business intelligence?

Product quality issues.

XBRL data.

Customer demographic information.

Customer credit history.

 

9. 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:

Data Warehouse

Data Mart

Data Mining

Business Intelligence

 

10.  Which of the following may be the result of data mining?

 

Weather forecasts.

Digital Dashboards.

Competitor sales by region.

Items frequently bought in combination.

 

11.  Which of the following is least likely to appear in a Digital Dashboard:

Current month sales

Website clicks

Store openings

Expected Fed Fund rate changes

 

12. Which of the following metrics would be most likely to show up on a Digital Dashboard for a retail organization?

Weather forecast.

Account Reconciliations.

Abandoned Shopping Carts for retailer’s website.

Work in process.

 

13.  Which of the following does not facilitate business decision-making activities?

 

Decision Support System.

Digital Dashboard.

UML Class Diagram.

Data Warehouse.

 

14.   Which of the following best describes the use of XBRL style sheets?

 

Style sheets are another name for XBRL instance documents.

Style sheets determine the formatting of numbers and text in the XBRL taxonomy.

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

Style sheets determine which elements may be used when companies submit their XBRL filing.

 

15. XBRL GL, or XBRL Global Ledger Taxonomy, is different from XBRL US GAAP because it facilitates:

 

Efficient communication between the firm and its suppliers.

Efficient communication between the firm and financial analysts.

Efficient communication within a firm.

Efficient communication between the firm and its customers.

 

16.  The tool that defines and describes each key data element (e.g., total assets, accounts, payable, net income, etc.) in XBRL is called _____:

XBRL specification.

XBRL taxonomy.

XBRL instance document.

XBRL style sheet.

 

 

17. Which type of company does the Securities and Exchange Commission (SEC) require to format their financial statements using XBRL?

Brokerage firms

All public companies

Financial institutions

Large accelerated filers

 

 

18.  The stated advantages of XBRL GL include:

Less costly

Flexibility

Network Effects

SEC approval

 

19 In February 2009, the _____ passed the rule requiring all large domestic publicly traded firms to begin formatting their financial statements using XBRL.

International Accounting Standards Board.

Financial Accounting Standards Board.

Securities and Exchange Commission.

American Institute of Certified Public Accountants.

 

 

20 A document containing XBRL elements is called a(n):

XBRL Instance Document.

XBRL Report.

XBRL Style Sheet.

XBRL Taxonomy.

 

Chapter 9 Assessment Answers