Info
Warning
Danger

Study Resources (Accounting)

Objective 1 1) All publicly traded companies are required to use XBRL for SEC filings by June 2011. 2) Credit rating agencies must use XBRL for reporting all ratings beginning in August 2009. 3) XML is a programming language also used for Web site development that is static. 4) XBRL provides customization that prohibits.
16 Views
View Answer
Objective 2 1) Dumpster diving attacks involve manipulating and tricking an individual into divulging confidential information to be used for fraudulent purposes. 2) While dumpster diving is unethical, it may not be illegal. 3) Phishing involves attempts to obtain passwords by sniffing messages sent between computers on the network. 4) Laws related.
12 Views
View Answer
14) Document the preventive and detective controls on the Books Ga'Lore! shipping DFD. 15) Document the risk level of the HotSpots on the Books Ga'Lore! shipping DFD. The following coding is used for the HotSpot DFD: - Red identifies the greatest risk (HotSpots). -Yellow is for significant risk (warm). - Green identifies areas with.
9 Views
View Answer
11) ________ involves attempts to obtain passwords by sniffing messages sent between computers on the network. 12) ________ involves collecting, examining, and preserving evidence of cybercrimes. 13) Cybercrimes are crimes connected to what? (Select the best answer) A) Information assets and IT B) The financial services industry C) Electronic payments D) Electronic transfer of funds 14).
7 Views
View Answer
Match the linkbase to the appropriate definition. A) Defines the labels used in the document B) Defines how the elements are presented C) Defines the relationships between the elements and the external regulations or standards D) Defines the basic validation rules E) Defines different kinds of relationships between elements 19) Reference link 20) Calculation link 21) Presentation link 22).
5 Views
View Answer
11) In ERM risk assessment, ________ may refer to assessing likelihood using qualitative measures, such as high, medium, or low. 12) In ERM risk assessment, ________ may refer to assessing likelihood using a quantitative measure, such as percentages. 13) In the context of enterprise risk management, ________ refers to the process.
9 Views
View Answer
17) Document the preventive and detective controls on the Books Ga'Lore! invoice DFD. 18) Document the risk level of the HotSpots on the Books Ga'Lore! invoice DFD. The following coding is used for the HotSpot DFD: - Red identifies the greatest risk (HotSpots). -Yellow is for significant risk (warm). - Green identifies areas with.
9 Views
View Answer
Objective 2 1) The COSO Enterprise Risk Management framework replaces the COSO framework for internal control. 2) ERM Operational objectives relate to goals that support the entity's mission. 3) It is possible for a company to be 100% risk free. 4) ________ is a COSO framework that provides guidance for managing risk..
8 Views
View Answer
8) ________ tagging permits companies to make more extensive use of XBRL for internal decision making. 9) A(n) ________ database can store data but not metadata. 10) Organizations using integrated enterprise systems with a centralized database can use XBRL integrated tagging if they use a(n) ________. 11) A(n) ________ database,.
7 Views
View Answer
21) XBRL has the ability to tag A) Quantitative and qualitative data B) Numerical and nonnumerical data C) Spreadsheets and Adobe PDF files D) A and B 22) Which of the following provides the most capability for sharing data between applications? A) Spreadsheets B) Text files C) XBRL D) HTML 23) List 5 countries that use XBRL. Objective 2 1) The.
10 Views
View Answer
11) Which principle in the Code of Ethics for internal auditors states that they are to respect the value and ownership of information they receive and do not disclose information without appropriate authority unless there is a legal or professional obligation to do so? A) Confidentiality B) Competency C) Objectivity D) Integrity 12) Which Rule.
13 Views
View Answer
10) Which organization was created by the Sarbanes-Oxley Act of 2002? A) Public Company Accounting Oversight Board (PCAOB) B) Institute of Management Accountants (IMA) C) American Accounting Association (AAA) D) Committee of Sponsoring Organizations of the Treadway Commission (COSO) 11) Which SOX section requires the chief executive officer and the chief financial officer to disclose.
5 Views
View Answer
Objective 1 1) Controls are risk driven, so understanding risk is a prerequisite to the appreciation and application of control. 2) Risk intelligence moves beyond just managing risk to using risk intelligently to create value for the enterprise. 3) Enterprise risk management (ERM) goes beyond just security and controls. 4) Identifying, assessing, and.
21 Views
View Answer
11) How long does the typical fraud last before being detected? A) Six months B) One year C) Two years D) Three years 12) What percentage for frauds are detected by tips? A) 33% B) 36% C) 46% D) 56% 13) Earnings management focuses on managing when revenues and expenses are recorded in order to favorably reflect a company's financial.
7 Views
View Answer
Objective 2 1) If the internal audit revealed any significant deficiencies, it is not required to be disclosed by the signing officers of the company. 2) The SOX legislation basically requires management of privately held companies must assess and report on the effectiveness of internal controls for financial reporting using a recognized.
7 Views
View Answer
Objective 3 1) Risk assessment is the acceptable level of variation in attaining objectives. 2) In ERM risk assessment, possibility may refer to assessing likelihood using a quantitative measure, such as percentages. 3) When risk responses are being considered, the costs and benefits of options may play a major role in the final.
9 Views
View Answer
Objective 6 1) A ________ is a hardware device containing a password generator protocol that creates a new password each time the token is used. 2) Which access control threat are programs or devices that examine traffic on the enterprise network? A) Password attack B) Network sniffer C) Identify theft D) Spoofing at log-on 3) Which.
5 Views
View Answer
11) Which general IT control covers acquisition, implementation, and maintenance of system software including the operating system, DBMS, network software, and security software? A) Access security controls B) Computer operations controls C) Program change controls D) Program development controls 12) What do the audit committee's responsibilities include? 13) What are the three major objectives of an.
7 Views
View Answer
Objective 1 1) Most occupational frauds are committed by the accounting department or upper management. 2) The typical fraud lasts three years before it is detected. 3) Tips are the most likely means of detecting fraud. 4) Accounting professionals often refer to the fraud triangle as incentive/opportunity/rationalization. 5) ________ focuses on managing when.
15 Views
View Answer
Match the network protocol with the appropriate definition. A) A software program that provides message transportation services between sending and receiving computers B) A software program commonly used to connect computers to create a LAN C) A software program that allows the enterprise network to connect to the network of vendors and.
7 Views
View Answer
Objective 3 1) Physical controls ensure appropriate information processing, authorization, and data integrity. 2) To comply with SOX, companies must use a framework for evaluating internal control. 3) The COSO ________ provides a blueprint for implementing an internal control system to assist in ensuring the reliability of financial statements and compliance with Sarbanes-Oxley.
7 Views
View Answer
42) What information does the following XBRL tag provide? <ifrs-gp:AssetsHeldSale contextRef="Current_AsOf" unitRef="U-Euros"decimals="2">20000</ifrs-gp:AssetsHeldSale> 43) What information does the following SBRL tag provide? <ifrs-gp:Inventories contextRef="Current_AsOf" unitRef="U-Euros"decimals="2">5000000</ifrs-gp:Inventories> 44) List and define the XBRL essentials. 45) What types of linkbases are used in XBRL to define relationships? .
11 Views
View Answer
Objective 1 1) The IT used in the accounting system can actually create vulnerabilities to cyberattacks of this confidential data. 2) Personal data, such as home address and credit card number, are stored on hotel card keys. 3) ________ developed the 10-domain Common Body of Knowledge (CBK) for IT security and controls. 4).
19 Views
View Answer
11) List three encryption methods. Briefly describe how they work. Objective 12 1) The IT used in an enterprise can actually create vulnerabilities to cyberattacks on this confidential accounting data. 2) New IT security technology A) Is usually worth the investment B) Is less vulnerable to cyberattacks C) May create vulnerabilities and risks to.
13 Views
View Answer
11) The XBRL linkbase ________ link defines basic validation rules. For example, assets equal liabilities plus stockholders' equity. 12) The XBRL linkbase ________ link defines the relationships between the elements and the external regulations or standards. 13) The XBRL linkdase ________ link defines different kinds of relationships between elements. For example,.
7 Views
View Answer
Chapter Extension 10A 1) The ________ of internal auditors establishes trust and thus provides the basis for reliance on their judgment. Match the internal auditors code of ethics principle to the appropriate definition. A) Internal auditors respect the value and ownership of information they receive and do not disclose information without appropriate authority.
11 Views
View Answer
Objective 4 1) COBIT provides high-level strategic guidance for meeting overall internal control objectives. 2) While COSO is a broad framework for internal control in general, COBIT provides the detailed IT processes necessary to provide IT controls for monitoring and evaluating the IT environment. 3) In the COBIT framework, which IT.
7 Views
View Answer
Objective 3 1) Information security consists of the policies and procedures required to secure information assets, including IT hardware, software, and stored data. 2) In the private sector, data with this classification requires higher than normal security measures to ensure data integrity and security. A) Confidential B) Sensitive C) Private D) Public 3) In the.
7 Views
View Answer
Objective 4 1) XBRL converts unstructured data into structured data, automating data exchange by making the data interchangeable across formats, software applications, and platforms. 2) Within the first quarter of implement XBRL, the FDIC went from a 66 percent data accuracy to A) 75 percent accuracy B) 86 percent accuracy C) 95 percent accuracy D).
9 Views
View Answer
Objective 9 1) ________, such as Symantec Enterprise Security Systems, are used to detect the damage caused by intruders and fix the applications. Match the malware with the appropriate definition. A) Tiny piece(s) of programming code that install themselves on the infected computer called a Zombie B) Similar to a virus except it does.
5 Views
View Answer
Objective 5 1) Increasingly the expectation is that the auditor and the IT professional learn more about the other's field. 2) Internal controls for the accounting system are incomplete without IT controls. 3) Application controls ensure completeness and accuracy of transaction processing, authorization, and validity. 4) Input controls ensure data is processed properly. 5).
8 Views
View Answer
Objective 6 1) Application controls for business processes cannot be documented using DFDs. 2) Internal controls are an integral part of business processes and the accompanying accounting transaction cycles. 3) Control ________ are control weaknesses. Match the DFD symbol to the name. A) Agent B) Dataflow C) Datastore D) Process 4) 5) 6) 7) 8) When.
8 Views
View Answer
Objective 4 1) To understand cybersecurity and how to evaluate whether cybersecurity is adequate for an accounting system, a basic understanding of IT architecture is not needed. 2) Application software are computer programs used for managing computer hardware. 3) Wide area networks (WANs) cover a large geographic region, such as the lower.
8 Views
View Answer
10) What are the objectives of internal control? 11) What are the five essential components of an effective internal control system listed in COSO Internal Control-Integrated Framework? 12) What factors are part of the control environment? 13) List and describe the control activities for mitigating financial, operational, and compliance controls risks. .
9 Views
View Answer
Objective 5 1) The network administrator must know how to identify potential vulnerabilities and troubleshoot effectively. 2) ________ is the electrical transmission of data through analog or digital transmission media. 3) Network cyberattacks typically target ________ because they offer access to the network. 4) ________ firewall is a special type of firewall located.
5 Views
View Answer
Match the ERM component name to the appropriate definition. A) This ensures that the enterprise has a process for setting goals that are consistent with the entity's mission and risk appetite. B) This involves ensuring relevant data is captured and communicated effectively throughout the organization to appropriate individuals in a timely manner. C).
9 Views
View Answer

Welcome Back!

ScholarOn has more then 20 Million answers, flashcards & more being added everyday!

or
Forgot?
Login
Don't have an account? Signup

Join ScholarOn

ScholarOn has more then 20 Million answers, flashcards & more being added everyday!

or
Signup
By registering, I agree to the Terms and Privacy Policies
Already have an account? Log in

Thank You For Registering

Please Vreify Your Email Address

Resend Link
Verification Mail Send Successfully. Please Check Your Email.

Forgot Password

Please enter your registered email to recieve the password reset link.

Send reset link
Already have an account? Log in
Did you know?

ScholarOn has more than 2 Million+ answers, textbook solutions & flashcards. Explore Now!

d
Let us boost your grade together!