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General Ledger and Publicly Accessible Website

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General Ledger and Publicly Accessible Website
Information Accounting Systems, 7eTest Bank, Chapter 8 Chapter 8General Ledger, Financial Reporting, and Management Reporting Systems TRUE/FALSE 1. The most common means of making entries in the general ledger is via the journal voucher. ANS: T PTS: 1 2. Individuals with access authority to general ledger accounts should not prepare journal vouchers. ANS: T PTS: 1 3. The journal voucher is the document that authorizes entries to be made to the general ledger. ANS: T PTS: 1 4. Each account in the chart of accounts has a separate record in the general ledger master file. ANS: T PTS: 1 5. The responsibility center file is primarily used by the Financial Reporting System. ANS: F PTS: 1 6. Management reporting is often called discretionary reporting because it is not mandated as is financial reporting. ANS: T PTS: 1 7. Primary recipients of financial statement information are internal management. ANS: F PTS: 1 8. The Management Reporting System is a nondiscretionary system. ANS: F PTS: 1 9. When evaluating decision alternatives, one option is to take no action. ANS: T PTS: 1 10. In most cases intangible decision criteria can be quantified. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole o r in part. ANS: F PTS: 1 11. One benefit of the Management Reporting System is that it can alert management to delays in project implementation. ANS: T PTS: 1 12. Responsibility refers to an individuals obligation to achieve desired results. ANS: T PTS: 1 13. A firm with a wide span of control tends to have relatively more layers of management. ANS: F PTS: 1 14. The control function entails evaluating a process against a standard and, if necessary, taking corrective action. ANS: T PTS: 1 15. Standards are the basis for evaluating actual performance. ANS: T PTS: 1 16. A report is said to have information content if it eliminates uncertainty associated with a problem facing the decision maker. ANS:
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