Deck 2: Accounting on the Internet

Question 1

Surveys suggest that less than half of all companies use social media for business purposes.

Answer 1

False

Question 2

The Internet Protocol address is a numerical translation of the text-based domain address.

Answer 2

True

Question 3

Most accountants believe that auditors do not need to concern themselves with IP addresses.

Answer 3

False

Question 4

XBRL is not related to XML.

Question 5

Groupware is the technology that enables knowledge sharing and knowledge management among employees.

Question 6

An example of an Internet domain address is HYPERLINK "http://www.Wiley.com" www.Wiley.com.

Question 7

The World Wide Web is the text portion of the Internet.

Question 8

All electronic commerce takes place over the Internet.

Question 9

The new standard is IPv6 that uses 128 bits for Internet protocol addresses.

Question 10

XBRL is an acronym for "extensive business reports and liabilities."

Question 11

ICANN is an acronym that stands for Internet Control and Network Numbers.

Question 12

Another name for a URL is the term "domain address."

Question 13

An extranet is a network that a business might establish with its trading partners.

Question 14

The term "blog" is an acronym that stands for "binary login."

Question 15

The domain address of a web page is the equivalent of its universal resource locator (URL).

Question 16

Intranets do not use the same software as the Internet.

Question 17

Social media is important to marketers, but only of passing interest to accountants.

Question 18

XBRL allows users to extract and compare financial data from many different companies.

Question 19

The SEC will not accept XBRL formatted data in electronically filed financial reports.

Question 20

HTML tags describe how data and graphics should be presented by a web browser.

Question 21

EDI automates the exchange of business information, particularly with respect to source documents.

Question 22

An advantage of XBRL is that the tags have been completely standardized by the XBRL International Consortium and these standards are now fixed.

Question 23

Proxy servers can act as firewalls and can also limit employee Internet access to approved web addresses only.

Question 24

An advantage of XBRL is that it can save companies the cost of rekeying financial data from one computer application to another.

Question 25

IDEA uses XBRL-coded data of corporate financial statements.

Question 26

An important disadvantage of XBRL is that most accounting packages cannot read or write documents in XBRL format.

Question 27

A set of XBRL tags identifies the data it contains as well as indicates how to display that data.

Question 28

Digital signatures can never be as secure as written signatures.

Question 29

XBRL is a type of XML.

Question 30

A disadvantage of a virtual currency is the unwillingness of some to accept payments.

Question 31

An advantage of XBRL is its ability to express semantic meaning-i.e., to express such relationships as "assets = liabilities + equity."

Question 32

E-wallets store customer data to facilitate online purchases.They do not store dollars.

Question 33

EDI can only be used by private, for-profit businesses.

Question 34

Bitcom is an example of a virtual currency.

Question 35

Firewalls are virtually unbreachable and offer assurance against all viruses.

Question 36

A major issue impacting e-business is the trade-off between accessibility and vulnerability.

Question 37

Public key encryption requires the use of a pair of public/private encryption keys.

Question 38

Digital time stamping authenticates the time and sometimes the place a transmission or transaction occurred.

Question 39

IDEA is a computer system used by the Securities and Exchange Commission (SEC).

Question 40

Data encryption renders a text message unreadable during data transmission, even if intercepted.

Question 41

For most businesses, cloud computing is an example of outsourcing.

Question 42

Mozy is a cloud provider of backup services.

Question 43

The heaviest demands on book publishing websites come in the weeks just prior to the start of a fall or spring semester.

Question 44

The term "phishing" refers to the use of web pages or other means to trick viewers into revealing their passwords or other personal information.

Question 45

When a cloud service company hosts a client's website, this is an example of "platform as a service."

Question 46

Businesses can use social networking sites to better understand the reactions to new products or services.

Question 47

The term "SaaS" is an acronym standing for "software as a service."

Question 48

Spam is annoying, but not a particularly costly or bothersome, to most businesses or government agencies.

Question 49

The term "B2B" is Internet slang for "back to basics."

Question 50

An example of a social networking site is FaceBook.

Question 51

Two types of firewall policies are protection by (1)inclusion, and (2)exclusion.

Question 52

For all its exposure in the popular press media, identity theft affects a relatively small number of people and, in total, involves a small amount of losses per year.

Question 53

EDI is an acronym standing for "electronic delayed interface."

Question 54

Worldwide, the total number of phishing attacks is increasing.

Question 55

An advantage of a proxy server is the ability to store commonly-requested web pages in memory, thereby enabling it to respond quickly to internal user requests for them.

Question 56

An example of a social networking site is eBay.

Question 57

The Department of Justice prosecutes identity theft under the ITADA Act of 1998.

Question 58

Three types of access security are (1)what you have, (2)what you know, and (3)who you are.

Question 59

One important personal category of cloud computing for accountants is educational services.

Question 60

BASF is one of the world's largest telephone companies.

Question 61

These allow a user to access alternate web pages from an existing page:

A)Hyperlinks
B)Golf links
C)html titles
D)The XBRL tag

Question 62

The letter "p" in the acronym http stands for:

A)Page
B)Provider
C)Protocol
D)Parity

Question 63

The "A" in the term IDEA (used by the SEC)stands for:

A)Accounting
B)Association
C)Addition
D)Applications
E)Access

Question 64

Which of these is not a component of an IP address?

A)A geographic region
B)An organization number
C)A computer group
D)A specific computer number
E)A specific user number

Question 65

Social networks do not pose privacy concerns.

Question 66

This language allows its users to create web pages on the Internet:

A)HTTP
B)HTML
C)URL
D)COBOL

Question 67

All of the following are true about XBRL tags except:

A)Tags are "extensible"
B)Tags describe the data
C)Tags tell how to display data
D)Tags are now permanently standardized across industries

Question 68

In the Internet address HYPERLINK "http://www.Name.com.X" www.Name.com.X, the term X usually stands for:

A)A country
B)A city
C)An abbreviation such as "gov"
D)A transmission protocol

Question 69

This organization assigns the official registry of Internet domain names.

A)TCP
B)URL
C)ICANN
D)HTTP

Question 70

The most common reason businesses outsource is to increase control over their data and data processing tasks.

Question 71

An advantage of an extranet is that:

A)It can disseminate information corporate-wide
B)It can be accessed by selected trading partners
C)Users can employ common web browsers to access information in them
D)all of the above

Question 72

Another name for an Internet domain address is its:

A)URL
B)ISP
C)email address
D)IETF

Question 73

An example of a URL is:

A))gov
B)100.100.100.100
C)? HYPERLINK "http://www.wiley.com" ?www.wiley.com
D)

Question 74

Which of the following is true about XBRL?

A)It is a business application of XML
B)It uses tags such as like HTML
C)It is used by the SEC to collect and store financial information about companies
D)all of the above are true about XBRL

Question 75

IDEA is used by the Securities and Exchange Commission (SEC)to:

A)Store the financial data of public companies
B)Collect lists of bankrupt companies
C)Store the URL's of member firms
D)Collect data on individuals victimized by identity theft hackers

Question 76

All of the following are benefits of XBRL except:

A)Companies can file financial information in one format, avoiding the errors that may come from reentering data multiple times
B)The SEC accepts XBRL-format for electronic filing of financial statement reports
C)XBRL permits the automatic and reliable exchange of financial information across many software formats and technologies, including the Internet
D)all of the above are benefits of XBRL
E)none of the above are benefits of XBRL

Question 77

One advantage of XBRL tags is that:

A)They always contain links to other web pages
B)Optional entries allow users to specify units of currency, such as Euros
C)They are now fixed standards
D)They cannot be used by hackers

Question 78

All of the following are normally associated with the Internet except:

A)IP addresses
B)URL addresses
C)http
D)MICR coding

Question 79

The "X" in the term XBRL stands for:

A)Extra
B)Extensible
C)X-rated
D)Exante

Question 80

An example of an Internet service provider is:

A)General Electric
B)AOL
C)PeachTree
D)ISP
E)none of these