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Study Resources (Accounting)

31) Operational transaction cycles have traditionally grouped activities of a business into six common operational processes. 32) Transactions are used by auditors to verify account balances and internal controls. 33) The internal audit function and the accounting functions should not be segregated in order to increase a company's internal control. 34) The director.
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153) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Chief Information Officer ________ 2. Treasurer ________ 3. Transaction processing cycle ________ 4. Technical support.
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109) The three general phases of systems development projects and the order in which they occur are A) systems design, systems implementation, and systems analysis. B) systems design, systems implementation, and systems auditing. C) systems design, systems analysis, and systems programming. D) systems analysis, systems design, and systems implementation. 110) Quick Response reader application can.
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122) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. On-line storage symbol ________ 2. Off-page connector symbol ________ 3. Manual input symbol ________ 4..
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11) Some organizations that use computers to process transactional data must have an information system function. 12) The operations function allows specialization in areas such as operating systems and software and communications technology. 13) Cloud computing describes the increasing trend for data processing capabilities to be provided as a service via the.
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  1) The Internet is a global system of interconnected computer networks. 2) eBusiness refers to the use of information technologies in some aspect of the business or organization. 3) eBusiness and eCommerce have the same meaning. 4) Web commerce is a type of eCommerce and eCommerce is a type of eBusiness. 5) One reason.
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74) The linking of applications in a suite is facilitated through a(n) ________ ________ ________. SOA 75) A business process is an interrelated set of tasks that involve data, ________ units, and a logical time sequence. 76) A simple way of viewing the company's activities in a manner suited to analyzing its competitive.
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41) EDI is a key component to quick-response technology systems. 42) The philosophy that one should do the right thing the first time is better known as TQM or TQP. 43) RFID tags are used for tracking objects within a quick-response system. 44) Only active RFID tags transmit signals containing digital information to.
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37) The ________ ________ ________ is a reference model for business models in general. 38) The ORM defines the typical business model in terms of four major domains: ________, ________, ________, and ________. 39) When the intranets of two or more companies are linked together a(n) ________ is formed. 40) A robot-type program.
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1) Tools used in the analysis, design, and documentation of system and subsystem relationships are known as system techniques. 2) The interim audit requires some type of substantive testing. 3) Substantive testing involves direct verification of financial statement figures. 4) When evaluating internal controls, auditors are usually not concerned with the flow of.
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26) Based upon recent accounting scandals, identify potential red flags that may be discovered in financial analysis. 27) Barking Shark International Corporation Balance Sheet December 31, 2011 and 2010 20112010 Current assets Cash$ 10,000$ 5,000 Short-term investments7,00010,000 Accounts receivable, net30,00023,000 Inventory37,00035,000 Prepaid expenses4,0003,000 Total current assets$ 88,000$ 76,000 Property, plant, and equipment, net33,30035,000 Other assets27,00022,500 Total assets$148,300$133,500 Current liabilities Short-term borrowings$ 28,400$ 13,900 Accounts payable20,00022,500 Total current liabilities$48,400$36,400 Long-term.
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77) The AICPA's Web Trust attestation program provides assurance that a merchant's Web site has A) some type of functioning information protection. B) business practices disclosure. C) transaction integrity. D) All of these answers are correct. 78) Servers that exist to support eBusiness are A) mail servers. B) file servers. C) Web servers. D) All of the above support.
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64) A group of loosely connected companies that work together to maximize the value of their economic outputs is a(n) ________ ________. 65) The IT benefits for AISs are ________, ________, and ________. 66) Application ________ involves the process of ensuring the suite of organization's applications work together in order to meet.
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70) The "hierarchy" aspect of HIPO charts refers to the fact that this technique factors a task into modules by A) using the entity's organization chart. B) utilizing a horizontal approach. C) going from the general to the specific. D) None of these answers are correct. 71) The charting technique which emphasizes a logical rather.
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21) Briefly state the information provided by the following ratios and briefly discuss how they are used in financial analysis: a. price/earnings ratio b. dividend yield 22) What is the basic assertion of the efficient capital market theory? What are the implications of an "efficient market" for: a. managers of companies who want to.
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16) Name some common financial ratios used by investors to compare different companies. 17) How is it possible for investors to compare two companies of different sizes or companies that operate in different industries? 18) For each of the following items, explain its significance and show how the ratio mentioned is calculated: a..
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129) RFID tags include all of the following except A) active tags. B) passive tags. C) inactive tags. D) semi-passive tags. 130) Which of the following is not associated with lean manufacturing? A) CRM B) Toyota Production System C) Eliminating waste D) JIT 131) The following are EDI standards except A) ANSI X.12. B) AS2. C) eBXML. D) ISO-95. 132) Green IT is concerned with A).
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54) A systems development project consists of ________ general phases. 55) The purpose of the ________ approach is to assist in the orderly development of effective systems. 56) Many companies prefer business process ________ because they find it more cost-effective than designing their own system from the ground up. 57) A philosophy of.
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47) An electronic ________ is essentially a computer program that keeps track of various keys, digital certificates, and other items of information associated with electronic funds. 48) A merchant's Web site may perform important functions, such as opening an encrypted ________ session. 49) ________ is one of the adverse results of privacy.
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11) Following is a comparative balance sheet for Wildfire Corporation: Wildfire Corporation Comparative Balance Sheet December 31, 2011 and 2010 20112010 Current assets: Cash$ 140,000$ 90,000 Short-term investments90,00080,000 Accounts receivable, net350,000220,000 Inventory500,000430,000 Prepaid expenses30,00030,000 Total current assets$1,110,000$ 850,000 Property, plant, and equipment, net750,000500,000 Other assets280,000300,000 Total assets$2,140,000$1,650,000 Current liabilities: Short-term notes payable$650,000$670,000 Accounts payable200,000225,000 Total current liabilities$850,000$895,000 Long-term debt380,000220,000 Total liabilities$1,230,000$1,115,000 Shareholders' equity: Common shares$500,000$500,000 Retained earnings410,00035,000 Total shareholders' equity$ 910,000$535,000 Total liabilities and shareholders'.
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42) Preparing flowcharts can be viewed as more ________ than ________. 43) ________ ________ are a fact-gathering technique where persons provide written answers to general, rather than specific, questions. 44) ________ ________ is based on the premise that quantitative measurement is essential to the design of efficient procedures. 45) The formula for capacity.
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123) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Systems techniques ________ 2. Work measurement ________ 3. Decision table ________ 4. HIPO chart ________ 5..
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89) The term that best describes an information system that is tailored to the strategic information needs of top-level management is a(n) A) accounting information system. B) expert system. C) executive information system. D) EDP system. 90) ________ are the only physical items that are absolutely required for a user of cloud computing. A) A data.
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124) The following data is related to the time required to post checks drawn by the Last National Bank's depositors: Number of checks posted795 Total elapsed minutes520 Rest period minutes12 Interruption minutes15 Required: a. Calculate the standard posting time per check. b. Calculate the combined rest and interruption time as a percentage of the standard time per.
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127) The approval policies for sales on account at Barton Brothers Lumber Company are given below: A sale under $1,000 is automatically approved for a builder or contractor. Sales between $1,000 and $5,000 (inclusive) require the approval of the credit department. Sales over $5,000 require the approval of the credit department.
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100) The first step in preparing a flowchart is to A) select the symbols to be used. B) analyze the system. C) sketch a rough draft of the system. D) consult the work papers from previous audits. 101) How many general guidelines should be followed when preparing a flowchart? A) Three B) Five C) Seven D) Four 102) The goal.
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21) Service-oriented architecture is an applications architecture design framework that facilitates the development of application suites that share information with each other. 22) Database drivers connect applications to printers. 23) The enterprise service bus (ESB) transfers data to users through a graphical user interface. 24) A guessed plaintext attack will succeed even though.
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90) Which of the following would generally not be appropriate in preparing a document flowchart? A) Columnar headings B) Flowlines C) Process symbols D) Connector symbols 91) A type of resource utilization technique which is used to rationally assign work activities to particular individuals, departments, or other entities is A) work measurement. B) work distribution analysis. C) branching.
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87) ________ store relatively current transaction data for quick access by management in support of tactical decision making. A) Data warehouses B) Operational databases C) Relational databases D) Data marts 88) ________ store enormous volumes of current and historical data for use in research and analysis. A) Data warehouses B) Operational databases C) Relational databases D) Data marts 89) ________.
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110) Flowchart symbols that represent the I/O function and the medium upon which the information is recorded, and/or the manner of handling such information, are known as A) basic input/output symbols. B) specialized input/output symbols. C) LDFD symbols. D) HIPO hierarchy chart modules. 111) The principle behind the "sandwich rule" states that A) flowcharts should leave.
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99) Material requirements planning software assists management in managing A) inventories. B) overhead. C) scheduling production. D) both inventories and scheduling production. 100) The international quality-management standard credited for promoting the process management approach is the A) Six Sigma. B) ISA-95. C) ISO 9001. D) ISA-Y2K. 101) Which systems permit the reprogramming of computers to produce entirely different products in.
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60) The acronym for the organization responsible for standardizing flowchart symbols is A) FASB. B) ANSI. C) AICPA. D) CMA. 61) Audit tests that follow compliance tests and rely on the interim audit's results are called A) substantive tests. B) follow-up tests. C) internal control tests. D) evaluation tests. 62) Which of the following is a procedure included in systems.
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154) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. XBRL ________ 2. Telecommuting ________ 3. JIT ________ 4. Total quality management ________ 5. OA ________ 6..
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21) In CIM systems, computers control management-designed parts of the manufacturing process. 22) Flexible manufacturing systems can be reprogrammed to produce entirely different products. 23) The process management approach aids in the management and improvement of a company's processes in order to increase customer satisfaction while ignoring the company's cost structure. 24) ERPs.
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11) Systems analysis involves formulating a blueprint for a completed system. 12) Auditors primarily use IPO and HIPO charts. 13) Section 404 of the Sarbanes-Oxley Act requires that annual filings of publicly traded companies include a statement of management's responsibility for establishing and maintaining adequate internal control as well as an assessment.
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119) The technological philosophy that emphasizes "customer satisfaction" to the point of "customer obsession" is known as A) TQP. B) EDI. C) TQM. D) TQP and TQM. 120) Which of the following is not a consumer benefit of Web commerce? A) There is no waiting for a salesperson or product information. B) There is automatic electronic encoding.
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11) Under the Uniform Electronic Transaction Act, digital signatures are not legally binding in most states. 12) File servers exist mainly as storage for electronic files. 13) The enterprise architecture describes the joint structure and behavior of the enterprise and its information system. 14) The enterprise architecture involves five enterprise architectural domains. 15) Human.
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  1) A system is a collection of related resources designed to help a company achieve specified objectives. 2) Accounting information systems are designed to gather and utilize information which may cost more to provide than it is worth to the user. 3) The basic goal of accounting information systems is to convert.
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