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Questions and Answers
What is the main purpose of accounting records according to the text?
What is the main purpose of accounting records according to the text?
- To track financial statements only
- To limit database access
- To trace source documents from inception to financial statements and vice versa (correct)
- To reconcile journal vouchers
Which advantage is NOT associated with using GL/FRS with database technology as per the text?
Which advantage is NOT associated with using GL/FRS with database technology as per the text?
- Detailed journal voucher listing
- Centralized access to accounting records
- Separation of transaction authorization and processing (correct)
- Immediate update and reconciliation
What is XML primarily used for, based on the information provided?
What is XML primarily used for, based on the information provided?
- Modeling data structure of an organization's internal database (correct)
- Displaying information on Web pages
- Creating databases
- Describing markup languages
Which statement best describes the purpose of XBRL according to the text?
Which statement best describes the purpose of XBRL according to the text?
What does HTML primarily define, as mentioned in the text?
What does HTML primarily define, as mentioned in the text?
Why are passwords and authorization tables described as controls in the context provided?
Why are passwords and authorization tables described as controls in the context provided?
What is the purpose of the General Ledger History File?
What is the purpose of the General Ledger History File?
Which potential risk in the GL/FRS system deals with account balances that are incorrect due to unauthorized or incorrect journal vouchers?
Which potential risk in the GL/FRS system deals with account balances that are incorrect due to unauthorized or incorrect journal vouchers?
What issue can arise if G/L clerks have custody of physical assets according to the GL/FRS control guidelines?
What issue can arise if G/L clerks have custody of physical assets according to the GL/FRS control guidelines?
Which file in the GLS Database is used for storing budget data by responsibility centers?
Which file in the GLS Database is used for storing budget data by responsibility centers?
To prevent errors, fraud, and misrepresentations in financial statements, what control measure is crucial according to the text?
To prevent errors, fraud, and misrepresentations in financial statements, what control measure is crucial according to the text?
What type of reports are included in the GLS Reports section?
What type of reports are included in the GLS Reports section?
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