53. Which element is not a part of the
typical company code data in general
ledger accounts?
a. Tax-related data
b. Field status groups
c. Line item display
d. Reconciliation account data
e. None of the above
54. Which term is a general ledger
account that consolidates data from a
group of related sub-ledger accounts?
a. Subsidiary ledger
b. Sub-ledger
c. Reconciliation account
d. Line item display
e. None of the above
55. Which of the following records the
impact of a transaction step on financial
accounting?
a. Financial accounting document
b. Parallel accounting document
c. Sub-ledger
d. Subsidiary ledger
e. None of the above
56. Which of the following is used to
implement multiple ledgers and use each
ledger for different purposes?
a. Financial accounting document
b. Subsidiary ledger
c. Sub-ledger
d. Parallel Accounting
e. None of the above
57. Which type of asset has a physical
form?
a. Master asset
b. Tangible asset
c. Informal asset
d. Intangible asset
e. None of the above
58. Which type of asset has a nonphysical form?
a. Master asset
b. Tangible asset
c. Informal asset
d. Intangible asset
e. None of the above
59. Which of the following is used to
report data needed to meet legal and
regulatory requirements?
a. Assets
b. Equity
c. Tangible document
d. Financial statement
e. None of the above
60. Which of the following best describes
the operative chart of accounts?
a. Contains the operational accounts that
are used to record the financial impact of
an organization’s day-to-day transactions
b. Used to enable companies to meet
special country-specific reporting
requirements
c. Contains accounts that are used by
multiple companies to consolidate their
financial reporting
d. Contains only accounts payable
transactions
e. Contains only accounts receivable
transaction
61. Which of the following is not a mode
of acquiring an asset for a company?
a. Acquiring internally via the
production process
b. Acquire from a vendor using the
purchasing process
c. Acquire from a vendor without using
the purchasing process
d. Selling equipment
e. Acquiring without a vendor
62. All of the following are transaction
types that occur during the life of an asset
except ___________ .
a. Acquisition
b. Depreciation
c. Allocation
d. Retirement
63. Financial statements can be generated
from which of the following?
a. Operative COA
b. Country-specific COA
c. Both operative and country-specific
COAs
d. Neither operative nor countryspecific COAs