Deck 14: Accounting on the Internet

Question 1

Intranets do not use the same software as the Internet.

Answer 1

False

Question 2

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

Answer 2

True

Question 3

The Canadian Securities Administration will not accept XBRL formatted data in electronically filed financial reports.

Answer 3

False

Question 4

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

Question 5

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

Question 6

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

Question 7

XBRL is not related to XML.

Question 8

IDEA uses XBRL-coded data of corporate financial statements.

Question 9

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

Question 10

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

Question 11

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

Question 12

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

Question 13

XBRL is a type of XML.

Question 14

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

Question 15

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

Question 16

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

Question 17

All electronic commerce takes place over the Internet.

Question 18

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

Question 19

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

Question 20

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

Question 21

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

Question 22

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

Question 23

To date, e-commerce has had less impact on accounts payable and accounts receivable than on procurement and inventory tracking.

Question 24

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 25

Firewalls are virtually impossible to breach and offer assurance against any viruses.

Question 26

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

Question 27

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

Question 28

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

Question 29

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

Question 30

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

Question 31

Worldwide, the total annual financial losses resulting from all phishing activities were less than $650 million in the first half of 2012.

Question 32

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 33

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

Question 34

Use of electronic procurement systems typically raises purchasing costs.

Question 35

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

Question 36

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

Question 37

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 38

Digital signatures can never be as secure as written signatures.

Question 39

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

Question 40

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

Question 41

Senate Bill S-4 made it illegal to possess another's person identity for criminal purposes.

Question 42

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

Question 43

MozyHome is a cloud provider of backup services.

Question 44

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

Question 45

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

Question 46

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

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

Question 47

An example of a social networking site is Facebook.

Question 48

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

Question 49

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

Question 50

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

Question 51

An example of a social networking site is eBay.

Question 52

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 53

Another name for an Internet domain address is its:

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

Question 54

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 55

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

Question 56

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

Question 57

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

Question 58

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

Question 59

Social networks do not pose privacy concerns.

Question 60

An example of an Internet service provider is:

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

Question 61

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

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

Question 62

An advantage of e-wallets is that:

A)Users do not need to re-enter personal information each time they make an online purchase
B)Most e-wallet information is maintained on vendor file servers
C)They ensure the completion of a purchase transaction over the Internet
D)none of the above is an advantage of e-wallets

Question 63

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 re-entering 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 64

Which of these is not an advantage of XBRL?

A)It often enables businesses to avoid rekeying data downloaded from corporate websites
B)It constrains companies to particular formats, thus ensuring consistency
C)It helps standardize the storage and therefore presentation of financial information
D)all of these are advantages of XBRL

Question 65

In recent years, the most common complaint related to identify theft is:

A)Alteration of personal information
B)Imbalances in financial statements
C)Credit card fraud
D)Deletions of the personal information maintained by banks and insurance companies

Question 66

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

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

Question 67

The "X" in the term XBRL stands for:

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

Question 68

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 69

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 70

Which of these best describes the current state of XBRL?

A)It now lacks standards, but the hope is that we will get some soon
B)The language is completely standardized
C)The language is dynamic and standards are still being developed
D)The language now awaits official sanction by the United Nations before being released for use

Question 71

According to the textbook, which of the following statements is true about identity theft?

A)Most personal identities are stolen by dumpster diving
B)There is little individuals can do to protect themselves from identify theft; this is a corporate problem
C)There is much that individuals can do to protect themselves
D)Accountants are more vulnerable to identity theft than non-accountants

Question 72

All of the following are examples of EDI "documents" except:

A)Purchase orders
B)Sales invoices
C)Customs documents
D)Bar codes

Question 73

An important characteristic of e-wallets is that:

A)It is exactly the same as regular cash
B)It is the same as EDI
C)It contains the identity of the user
D)Users must also supply a credit card number when using it

Question 74

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 75

Which of these is correct about the terms "e-business" and "e-commerce"?

A)They are exact synonyms
B)They are exact opposites
C)e-business is a subset of e-commerce
D)e-commerce is a subset of e-business

Question 76

Retail sales on the Internet:

A)Are growing rapidly
B)Were growing at first, but are now declining
C)Are not possible on the Internet
D)Have only been achieved by major retailers such as Wal-Mart

Question 77

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

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

Question 78

Which of the following is true about XBRL?

A)It is a business application of XML
B)It uses tags such as < b > 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 79

The acronym B2B stands for:

A)Back to basics
B)Baltimore or bust
C)A non-existent public broadcasting system
D)Business to business

Question 80

________ is one of the largest "auction houses" on the web:

A)Wal-Mart
B)Sears, Roebuck
C)eBay
D)Forester