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Study Resources (Accounting)

11.Input controls attempt to assure the accuracy and completeness of the data fed into the CPU for processing. 12.It is more difficult to safeguard logical computer access than it is to safeguard physical computer access. 13.Output controls for the computerized accounting information system focus primarily on the security and distribution of print.
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51) Which of the following is a nonroutine cognitive skill that would provide one with job security? A) abstract reasoning B) tax accounting C) communication skills D) computer knowledge 52) ________ is the ability to make and manipulate models. A) Abstract reasoning B) Systems thinking C) Collaboration D) Experimentation 53) Miguel proposes a new design idea for an automobile to.
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41) Innovation is not expected in structured processes, whereas innovation is required in dynamic processes. 42) Effectiveness is an important characteristic of both structured and dynamic processes. 43) Using social networking sites to generate buzz about next season's product line is an example of a structured process. 44) Changes to dynamic processes are.
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21.Information Technology (IT) governance includes using IT responsibly and efficiently, but not necessarily strategically. 22.Auditors may use transaction tagging to verify how a system processes certain transactions. 23.It is relatively easy to prevent hackers from unauthorized access to data and programs. 24.The three conditions for fraud in the fraud triangle include pressure, rationalization,.
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95) What are the different competitive strategies according to Porter's model?? 96) Define value, margin, and value chain. 97) What are the primary activities in the value chain? 98) What are the support activities of a value chain? 99) How does Porter define technology, human resources, and firm infrastructure? 100) Explain the meaning of value.
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57.A technique for controlling identification numbers (part number, employee number, etc.) is: a)Self-checking (check) digits b)Echo checks c)Parity control d)File protection 58.In its automated data processing system, a company might use selfchecking numbers (check digit) to enable detection of which of the following errors? a)Assigning a valid identification code to the wrong customer b)Recording an invalid customer's.
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37.Which of the following is not a processing control? a)Record counts b)Control totals c)Hash totals d)Check digits 38.Editing checks performed "in tandem" would be defined as: a)Tests of alphanumeric field content b)Tests for valid codes c)Redundant data checks d)Tests of reasonableness 39.A data field could pass all editing tests and still be invalid.  Additional controls to cope with this would.
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True-False Questions 1.One problem with internal auditing is that it is akin to self-regulation (i.e., the auditor cannot be impartial because both the auditor and the subsystem being audited work for the same company). 2.Both the internal audit and the external audit have the same primary objective (i.e., to verify that the.
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63.  Many organizations have an internal audit function that makes periodic reviews of each department within the organization.  The focus of these reviews is to: a)  Conduct an investigation of each department to be sure fraud is not taking place b)  Evaluate the efficiency and effectiveness of the department c)  Evaluate the performance.
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Matching Questions For the following terms find the correct definition below and place the letter of that response in the blank space next to the term. Each definition is used only once – there are three terms that are not used. 97.  ______  input controls 98.  ______  business continuity plan (BCP) 99.  ______ .
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True-False Questions 1.All controls available for the computerized accounting information system of a company should be implemented regardless of cost due to the high rate of computer crime. 2.One of the "fallback" procedures of a computing center is the "grandfather parent-child" file arrangement. 3.According to the text, data transcription would only be necessary.
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31) Data that is too fine-grained is too highly summarized. 32) Data which is easy to use results in better comprehension and thus produces better quality information. 33) Data that is too coarse is highly detailed. 34) Two people can perceive the same data but conceive different information from it. 35) Data is subjective. 36).
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81) Porter defined ________ broadly to include research and development and other activities within the firm for developing new techniques, methods, and procedures. A) technology B) human resources C) firm infrastructure D) MIS 82) Porter defined ________ to include recruiting, compensation, evaluation, and training of full- and part-time employees. A) human resources B) firm infrastructure C) operations D) employee.
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11) The five components of information systems are common to all information systems, from the smallest to the largest. 12) The printer connected to a PC is an example of software. 13) A company's security protocol for logging into systems would be an example of the procedure component of an information system. 14).
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51) A(n) ________ is a sequence of activities for accomplishing a function. A) task B) information system C) business process D) repository 52) Recording final grades is a(n) ________ ,whereas filling out the grade reporting form is a(n) ________. A) business process; activity B) activity; business process C) activity; task D) task; business process 53) What do rectangles with rounded.
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71) Staples sells office supplies and machines, furniture, and technology and business services both in stores and online. It sells every kind of stationery that one can imagine. It has over 2,000 stores worldwide in 26 countries. This is an example of a(n) ________. A) industry-wide differentiation strategy B) focused differentiation strategy C).
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Short Answer Questions 118.Define and explain BCP and its purpose. 119.When we talk of convergence of physical and logical security, what do we mean and why is it important? 120.What is the purpose of the separation of duties control and why is it different between manual systems and computerized systems?   14.1 .
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11.Public companies are required to adopt the Control Objectives for Information and Related Technology framework under SOX. 12.The Electronic Systems Assurance and Control model provides a framework for evaluating controls over email systems. 13.An auditing around the computer approach pays little or no attention to the control procedures within an IT environment. 14.Normal.
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Multiple-Choice Questions 31.Which of the following is not true? a)An internal audit is never performed by external auditors b)The primary goals of an internal audit and an external audit are somewhat different c)Both internal and external audits are similar in their insistence upon objectivity in the performance of the audit evaluation d)Both the internal audit.
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Matching Questions For the following terms find the correct definition below and place the letter of that response in the blank space next to the term.  Each definition is used only once – there are two terms that are not used. 74.  ______  ideal control 75.  ______  scenario planning 76.  ______  COBIT 77.  ______ .
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61) Which of the following appropriately justifies a company's decision to develop an information system? A) to project a modern and progressive image B) to achieve organizational strategy C) for the sake of exploring technology and being innovative D) to avoid falling behind the technology curve 62) Which of the following is the first stage.
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41.The term “test data" is associated with: a)Auditing through-the-computer b)Auditing around-the-computer c)Auditing of manual accounting systems d)Non-auditing procedures performed by a firm’s accounting subsystem employees 42.Three common techniques auditors use to test computer programs are: a)Test data, integrated test facilities, and parallel simulation b)Test data, edit checks, and integrated test facilities c)Test data, program change control, and parallel.
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51.All of the following are true concerning embedded audit modules except: a)They provide for continuous auditing of application processing b)The auditor does not have to be involved in the development of these programs c)Once implemented, the system can capture information that is useful to the auditor on an ongoing basis d)With this approach, the.
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Matching Questions For the following terms find the correct definition below and place the letter of that response in the blank space next to the term. Each definition is used only once. 68.______  automated workpaper software 69.______  Certified Information Systems Auditor (CISA) 70.______  computer-assisted audit techniques (CAATs) 71.______  continuous auditing 72.______  COBIT 73.______  fraud triangle 74.______  generalized audit.
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61.All of the following are reasons why SOX was enacted, except: a)Enron’s CEO, Jeffrey Skilling, claimed he did not know about the company’s financial shenanigans because he was not involved in their accounting b)Public perception was that auditors were having conflicts of interest with respect to the auditing and consulting services they.
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47.The least effective physical security control for a computer center is: a)Limited employee access b)Color-coded identification badges c)Insurance d)Strategic placement of computer center equipment 48.Which of the following is an example of application controls in automated data processing systems? a)Input controls b)Hardware controls c)Documentation procedures d)Controls over access to equipment and data files ? 49.An expense report was prepared by a.
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Multiple-Choice Questions 27.The principal function of an accounting system's computerized controls is: a)Detecting computer frauds b)Preventing computer frauds c)Encouraging programmer honesty d)none of the above 28.When a company is setting up its accounting information system, it is important for management to select: a)A standard set of computer control mechanisms b)Only those controls which appear to serve its needs c)Controls.
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106) List the characteristics of structured processes. 107) What are the differences between structured processes and dynamic processes? 108) List the characteristics of dynamic processes. 109) Why is the distinction between structured and dynamic processes considered important? .
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97) Discuss the symmetry of the five-component framework. 98) Explain why a variety of skills are required to develop an information system. 99) Why is the term "data" not interchangeable with the term "information"? 100) Explain the data factors that drive information quality? 101) Why must data be timely in order to make information.
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Short Answer Questions 85.Discuss the elements of the Sarbanes-Oxley Act of 2002 that affect auditing. 86. IT auditors need people skills as well as technical skills.  Discuss some techniques and skills that assist the auditor during interviews. 87.Describe continuous auditing anddiscuss examples of different continuous auditing techniques.   15.1 .
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61) Which of the following is an actor in the five-component framework of an information system? A) software B) procedures C) data D) hardware 62) ________ function(s) as a bridge between the human side and the machine side of the information system framework. A) Data B) Hardware C) Procedures D) People 63) A company's ________ serve(s) as instructions for users.
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89) Explain the meaning of collaboration and experimentation with the help of examples. 90) Define management information systems. 91) What are processes, information systems, and information? 92) How does MIS help organizations achieve their strategies? 93) How does MIS relate to organizational strategy? 94) Briefly describe Porter's five forces model. .
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1) A business process is a sequence of activities for accomplishing a function. 2) All repositories are databases. 3) Most businesses choose not to standardize business processes in order to avoid inconsistencies in results. 4) Standardized business processes reduce risks. 5) A system is a group of components that interact to achieve some purpose. 6).
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41) Supporting functions of the value chain add value indirectly and hence do not incur costs. 42) It is difficult to calculate the margin of supporting activities because the specific value added by supporting activities is difficult to know. 43) Manufacturing systems use linkages to reduce inventory costs. 44) Value chains do not.
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1) Hardware refers to both electronic components and the related gadgetry that input, process, output, and store data. 2) The CPU stores results of operations on the flash drive. 3) Special function cards are examples of input hardware. 4) The CPU is considered "the brain" of the computer. 5) Magnetic disk is the most.
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91) Which of the following is true regarding dynamic processes? A) These processes consist of fixed steps taken in a specific control flow every time. B) These processes are, by definition, unstructured. C) The BPMN diagrams for these processes are highly specialized and variable. D) These processes rely, to a large extent, on human.
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11) MIS is defined as the management and use of processes, information systems, and information to help organizations achieve their strategies. 12) An information system is a collection of components, including a computer, that stores and retrieves data and produces information. 13) Business processes are synonymous with information systems. 14) A process may.
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71) In an office, a(n) ________ is an information system. A) air-conditioner B) projector C) telephone D) conference room schedule 72) What is the primary difference between data and information? A) Information is processed to get data. B) Data is processed to get information. C) Data, unlike information, is related to hardware. D) Information, unlike data, is a component.
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77.A transaction involving a charge to a non-existent customer account was entered into an accounts receivable and billing system that was batch processed.  This error should be detected by the computer system and appear in: a)The sort run error printout b)The edit run error printout c)The customer statements printout d)The master file update run.
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