AIS3702 Assignment 2 {COMPLETE
ANSWERS AND QUESTIONS 2026-2027
"Once the order is delivered, the (1)__________ inspects the items and accepts them into inventory,
which helps mitigate the risk of (2)___________. Our fixed asset clerk updates the (3)__________ ,
which shows the (4)____________ and (5)___________ for each fixed asset. To help mitigate the
risk of fraud, we have put (6) in place, which are set by the fixed asset cost. Fixed assets are also
known as (7)__________ and include land, buildings, and (8)__________ . As a fixed asset is
consumed, the asset is (9)__________, which is allocated over the asset's life."
Word Bank: historical cost, theft, vehicles, depreciated, capital, expenditures, receiving department,
detail, fixed asset sub-ledger, IT personnel, authorization limits - ANSWER--(1) receiving department
(2) theft
(3) fixed asset sub-ledger
(4) detail
(5) historical cost
(6) authorization limit
(7) capital expenditures
(8) vehicles
(9) depreciation
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
A college student purchases a cup of coffee at Starbucks. - ANSWER--B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
Target purchases Starbucks coffee beans. - ANSWER--B2B
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
Starbucks purchases paper cups. - ANSWER--B2B
,AIS3702 Assignment 2 {COMPLETE
ANSWERS AND QUESTIONS 2026-2027
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
An honors society orders and receives 12 reusable coffee mugs on Starbucks' website. - ANSWER--
B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
The chair of a nonprofit purchases bags of coffee beans at Starbucks for a silent auction gift basket. -
ANSWER--B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
A college student purchases a cup of coffee at Starbucks inside of Target. - ANSWER--B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
A Starbucks manager buys paper towels from Target because the café ran out. - ANSWER--B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
A Starbucks manager orders and receives paper towels from a Bounty distributor. - ANSWER--B2B
You are a senior consultant in the risk and advisory practice at your Big Four public accounting firm,
working on a financial reporting engagement. Your client, Socrates, is a software as a service
provider. You are presenting at an upcoming meeting of Socrates' department managers and senior
leadership. Currently, Socrates' financial reporting is not as sophisticated as the reporting of
competitors in the industry. Your consulting team thinks moving to XBRL is a way to close the
, AIS3702 Assignment 2 {COMPLETE
ANSWERS AND QUESTIONS 2026-2027
reporting gap. You have been asked to give a brief talk on XBRL, including providing a general
understanding of its functionality and benefits. This is what you say:
"Fundamentally, XBRL is a way to (1)______ and (2)______ . XBRL was created by using a form of
(3)______ , which is a well‐known computer language. It uses a(n) (4)______ , which is an open
standard that is managed by the (5)______. Using an open standard for this type of repor - ANSWER-
-(1) automate the process
(2) improve access to financial information
(3) XML
(4) taxonomy
(5) XBRL International Consortium
(6) suitable for any business
(7) tags
(8) element
(9) XBRL Instance Document
(10) Consolidate Financial Information
You work for a major consulting firm, and you just completed a team training on data backup
strategies. Your manager has prepared a post-training assignment to test your team's knowledge
after the training session.
Label each of the following with the correct backup strategy:
- Full backup
- Differential backup
- Incremental backup
The backup strategy that copies all existing data every time: - ANSWER--Full Backup
You work for a major consulting firm, and you just completed a team training on data backup
strategies. Your manager has prepared a post-training assignment to test your team's knowledge
after the training session.
Label each of the following with the correct backup strategy:
- Full backup
ANSWERS AND QUESTIONS 2026-2027
"Once the order is delivered, the (1)__________ inspects the items and accepts them into inventory,
which helps mitigate the risk of (2)___________. Our fixed asset clerk updates the (3)__________ ,
which shows the (4)____________ and (5)___________ for each fixed asset. To help mitigate the
risk of fraud, we have put (6) in place, which are set by the fixed asset cost. Fixed assets are also
known as (7)__________ and include land, buildings, and (8)__________ . As a fixed asset is
consumed, the asset is (9)__________, which is allocated over the asset's life."
Word Bank: historical cost, theft, vehicles, depreciated, capital, expenditures, receiving department,
detail, fixed asset sub-ledger, IT personnel, authorization limits - ANSWER--(1) receiving department
(2) theft
(3) fixed asset sub-ledger
(4) detail
(5) historical cost
(6) authorization limit
(7) capital expenditures
(8) vehicles
(9) depreciation
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
A college student purchases a cup of coffee at Starbucks. - ANSWER--B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
Target purchases Starbucks coffee beans. - ANSWER--B2B
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
Starbucks purchases paper cups. - ANSWER--B2B
,AIS3702 Assignment 2 {COMPLETE
ANSWERS AND QUESTIONS 2026-2027
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
An honors society orders and receives 12 reusable coffee mugs on Starbucks' website. - ANSWER--
B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
The chair of a nonprofit purchases bags of coffee beans at Starbucks for a silent auction gift basket. -
ANSWER--B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
A college student purchases a cup of coffee at Starbucks inside of Target. - ANSWER--B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
A Starbucks manager buys paper towels from Target because the café ran out. - ANSWER--B2C
For each of the following scenarios, identify whether the sale that occurs is a business-to-consumer
(B2C) or business-to-business (B2B) sale.
A Starbucks manager orders and receives paper towels from a Bounty distributor. - ANSWER--B2B
You are a senior consultant in the risk and advisory practice at your Big Four public accounting firm,
working on a financial reporting engagement. Your client, Socrates, is a software as a service
provider. You are presenting at an upcoming meeting of Socrates' department managers and senior
leadership. Currently, Socrates' financial reporting is not as sophisticated as the reporting of
competitors in the industry. Your consulting team thinks moving to XBRL is a way to close the
, AIS3702 Assignment 2 {COMPLETE
ANSWERS AND QUESTIONS 2026-2027
reporting gap. You have been asked to give a brief talk on XBRL, including providing a general
understanding of its functionality and benefits. This is what you say:
"Fundamentally, XBRL is a way to (1)______ and (2)______ . XBRL was created by using a form of
(3)______ , which is a well‐known computer language. It uses a(n) (4)______ , which is an open
standard that is managed by the (5)______. Using an open standard for this type of repor - ANSWER-
-(1) automate the process
(2) improve access to financial information
(3) XML
(4) taxonomy
(5) XBRL International Consortium
(6) suitable for any business
(7) tags
(8) element
(9) XBRL Instance Document
(10) Consolidate Financial Information
You work for a major consulting firm, and you just completed a team training on data backup
strategies. Your manager has prepared a post-training assignment to test your team's knowledge
after the training session.
Label each of the following with the correct backup strategy:
- Full backup
- Differential backup
- Incremental backup
The backup strategy that copies all existing data every time: - ANSWER--Full Backup
You work for a major consulting firm, and you just completed a team training on data backup
strategies. Your manager has prepared a post-training assignment to test your team's knowledge
after the training session.
Label each of the following with the correct backup strategy:
- Full backup
