GLS Database Components Quiz
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Offering expanded financial information virtually instantaneously</p> Signup and view all the answers

    What does HTML primarily define, as mentioned in the text?

    <p>Graphic elements</p> Signup and view all the answers

    Why are passwords and authorization tables described as controls in the context provided?

    <p>To improve data security measures</p> Signup and view all the answers

    What is the purpose of the General Ledger History File?

    <p>To support comparative financial analysis by storing past period data</p> Signup and view all the answers

    Which potential risk in the GL/FRS system deals with account balances that are incorrect due to unauthorized or incorrect journal vouchers?

    <p>Account balances that are wrong because of unauthorized or incorrect journal vouchers</p> Signup and view all the answers

    What issue can arise if G/L clerks have custody of physical assets according to the GL/FRS control guidelines?

    <p>Lost or damaged data</p> Signup and view all the answers

    Which file in the GLS Database is used for storing budget data by responsibility centers?

    <p>Budget Master File</p> Signup and view all the answers

    To prevent errors, fraud, and misrepresentations in financial statements, what control measure is crucial according to the text?

    <p>Access controls</p> Signup and view all the answers

    What type of reports are included in the GLS Reports section?

    <p>General ledger analysis, financial statements, and managerial reports</p> Signup and view all the answers

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