Question

This is questions of Accounting Information Systems

1) Information is best described as: a. Raw facts specifically about transactions b. Data that has been organized and processed so that it is meaning ful to the user c. Facts that are useful when processed in a timely manner d. Synonymous with data 2) Which of the following statements regarding XRBL is not true? a. XBRL is a variant of XML used for reporting financial information b. XBRL is required by the SEC for only publicly traded companies c. XBRL creates unique searchable tags for each data item d. XBRL adoption requires accountants to tag data for their clients 3) The Sarbanes-Oxley Act of 2002 (SOX) requires independent auditors to: a. Create flowcharts to document business processes b. Understand a client's system of internal controls c. Establish effective internal controls d. Prepare and understand all types of system documentation 4) Oval Manufacturing has found th at its data modeling techniques used to project estimated bad debts are unfortunately too inaccurate to be reliable. Which type of analyties could be used to determine the optimal course of action for Oval Manufacturing to take to address this finding? a. Prescriptive b. Predictive Descriptive None of the above c. d. 5) Vladislav Delay works at Luomo I Access files provided to him by his c nc. as a data analyst. He primarily focuses on taking large Excel and o-worker and re-organizing, arranging, and fixing missing and incorrect values in the data. Which part of the ETL process best fits Vladislav's job as described here? a. Extract b. Transform c. Load d. Procurement

Answer 1

$\small \color{blue}Answer:\;\;$

1)  data that has been organized and processed so that it is meaningful to the user.
2)  XBRL adoption requires accountants to tag data for their clients
3)  Understand a client's system of internal controls
4)  Prescriptive
5)  Transform