Deck 14: Accounting on the Internet

Question 1

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

Answer 1

True

Question 2

XBRL is not related to XML.

Answer 2

False

Question 3

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

Answer 3

False

Question 4

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

Question 5

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

Question 6

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

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

IDEA uses XBRL-coded data of corporate financial statements.

Question 10

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

Question 11

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

Question 12

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

Question 13

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

Question 14

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

Question 15

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

Question 16

Intranets do not use the same software as the Internet.

Question 17

XBRL is a type of XML.

Question 18

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

Question 19

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

Question 20

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

Question 21

Use of electronic procurement systems typically raises purchasing costs.

Question 22

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

Question 23

Digital signatures can never be as secure as written signatures.

Question 24

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

Question 25

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

Question 26

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

Question 27

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

Question 28

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 29

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

Question 30

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

Question 31

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

Question 32

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 33

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

Question 34

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 35

Worldwide,the total annual financial losses resulting from all phishing activities were less than $1 billion in 2010.

Question 36

Firewalls are virtually unbreachable and offer assurance against any viruses.

Question 37

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

Question 38

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

Question 39

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

Question 40

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

Question 41

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

Question 42

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

Question 43

Social networks do not pose privacy concerns.

Question 44

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

Question 45

MozyHome is a cloud provider of backup services.

Question 46

An example of a social networking site is FaceBook.

Question 47

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

Question 48

Another name for an Internet domain address is its:

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

Question 49

An example of an Internet service provider is:

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

Question 50

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 51

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

Question 52

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

Question 53

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

Question 54

An example of a URL is:

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

Question 55

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

Question 56

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

Question 57

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

Question 58

An example of a social networking site is eBay.

Question 59

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 60

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

Question 61

Which of these is the official website of the XBRL International Consortium?

A)HYPERLINK "http://www.xbrl.com" www.xbrl.com
B)HYPERLINK "http://www.xbrl.org" www.xbrl.org
C)HYPERLINK "http://www.xbrl.gov" www.xbrl.gov
D)HYPERLINK "http://www.xbrlic.com" www.xbrlic.com

Question 62

One form of access security is determining authentic users by "who they are." Which of the following is an example of such authentication?

A)Verifying a password
B)Biometric tests such as retina scans
C)Requesting that the user provide his or her mother's maiden name
D)Requiring the user to show a valid driver's license

Question 63

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 64

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

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

Question 65

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 66

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 67

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 68

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 69

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 70

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 71

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 72

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

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

Question 73

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
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 74

The "X" in the term XBRL stands for:

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

Question 75

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 76

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

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

Question 77

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 78

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 79

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

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

Question 80

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