Info
Warning
Danger

Study Resources (Accounting)

55. Steps for Better Thinking Which level of the Steps for Better Thinking model is associated with each independent item below? _________a. Acknowledging that the price of gasoline may increase over time._________b. Categorizing balance sheet items as assets, liabilities or equity._________c. Completing a sample problem and checking its solution._________d. Deciding whether.
6 Views
View Answer
31) Which accounting software is designed for a large-scale company? A) SAP Business All-in-One B) SAP Business One C) Oracle's JD Edwards EnterpriseOne D) Oracle's PeopleSoft Enterprise 32) When designing a database, which field would not belong in a table storing customer information? A) Zip Code B) Street Address C) Last Name D) Order Number 33) When designing a database,.
9 Views
View Answer
58. Satisficing, bounded rationality and relapse errors A group of accounting students was discussing which elective courses they should take as part of their degree; several comments from their conversation appear below. Place an "X" in the appropriate column to indicate whether each comment most clearly demonstrates satisficing, bounded rationality.
8 Views
View Answer
57. Auditing standards Generally accepted auditing standards are divided into three groups; indicate the group (not the standard) that applies to each of the following statements. ______a. Ahmed works more independently on audits after earning his CPA license.______b. Carol developed a comprehensive plan to conduct an audit within five days.______c. Cecilia.
9 Views
View Answer
56. AIS topics on professional exams AIS topics are tested on every professional exam discussed in the text. Without using the same topic more than once, indicate two AIS topics tested on each exam listed below. 57. Careers and certifications Several job descriptions appear below; in the space provided, indicate the.
9 Views
View Answer
41.  A financial statement auditor sends letters to customers verifying their current account balance as part of which generic audit step? a. Verifying management's integrity. b. Performing compliance testing. c. Reviewing internal controls. d. Evaluating the system for fraud. 42.  In a financial statement audit, questionnaires and interviews can be helpful in: (i) assessing.
10 Views
View Answer
55.Professional exam topics Several topics that might appear on various accounting professional exams are listed below. For each topic, fill in the name of one exam where you'd expect to find it. __________ a. Assisting independent auditors.__________ b. Budgeting.__________ c. Data flow diagramming.__________ d. Encryption.__________ e. Enterprise risk management.__________ f. Internal.
8 Views
View Answer
56. Auditing standards Match each item on the left with the most appropriate auditing standard on the right. ______ 1. Carlos reviews methods for calculating  depreciation.______ 2. Carol refuses an expensive gift from an audit client.______ 3. Hamid assigns tasks to audit team members based on their experience.______ 4. Hobart composes.
8 Views
View Answer
Short answer The following paragraph applies to Questions 61 – 65: Your school's accounting club will soon host a one-day seminar on auditing and evaluating accounting information systems. You know you'll be talking with experienced auditors during the seminar; you want to demonstrate your knowledge of auditing to make a good impression. 61..
3 Views
View Answer
21) Which transactions are usually performed in the Customers module of the Baseline Accounting System? A) Pay Bills B) Create Purchase Order C) Create Invoice D) Receive Inventory 22) The ________ module consists of transactions for payroll. A) Customers B) Banking C) Employees D) Vendors 23) Which event is part of the Purchasing Cycle? A) Enter Bill B) Pay Bill C) Make Deposit D).
9 Views
View Answer
Problems 51. CMA exam content: Fill in the blanks below according to the parts of the CMA exam. a. ______ applications.b. Business ______.c. Management ______ and ______.d. Strategic ______. 52. CISA exam content: Fill in the blanks below according to the parts of the CISA exam. a.  Information systems ______ ______ b.  Information.
7 Views
View Answer
Objective 2 1) Data stored in a data warehouse is used for routine business activities. 2) The ________ is responsible for managing the enterprise's databases. 3) Data stored in a ________ may be current data, historical data, or future estimates. 4) ________ databases are databases containing data collected by other organizations. 5) To retrieve data.
8 Views
View Answer
Short answer The following paragraph applies to Questions 61 – 65: Janet and Irene are accounting majors at a large state university; Janet is starting the accounting program, while Irene is ready to graduate. The two of them were discussing career options and plans they could pursue with their accounting degrees. 61. Identify.
7 Views
View Answer
58. Sarbanes-Oxley Act The text identified five sections of SOX that are relevant to auditing and accounting information systems. Identify the section that best applies to each of the following independent statements. ______a. As CFO of DRP Corporation, Lily recognized that she was responsible for the company's               financial statements.______b. DRP's.
8 Views
View Answer
56.  Knowledge management systems The text discusses seven steps for developing a knowledge management system. Which step is associated with each comment below? Write the step number in the space provided. ______a. I'm concerned that knowledge sharing will compromise information security.______b. Let's send out an e-mail survey to all accounting employees.
8 Views
View Answer
Multiple Choice Questions 1.   Which of the following types of audits involves expressing an opinion? a. Financial statement audit. b. Operational audit. c. Management audit. d. Systems audit. 2.   A(n) ___ audit examines a company's rules and procedures for doing business. a. Systems audit. b. Investigative audit. c. Operational audit. d. Management audit. 3.   Which type of audit looks.
17 Views
View Answer
63.  One of the seminar speakers gave an overview of an audit client in the computer software business. The company develops, markets and supports various kinds of computer software, with a particular emphasis on general ledger software and enterprise resource planning systems. Other than a financial statement audit, identify three.
13 Views
View Answer
49) What is the difference between the aerial view and zoom view of an accounting system? 50) Identify the six modules in the baseline accounting system. Which transaction cycle is associated with each module? What type of transactions are associated with each module? 51) If you were the person entering transactions into.
8 Views
View Answer
58. Career planning Several phrases associated with the career planning process appear below. For each item, indicate which of the five career planning steps from the textbook most clearly applies. ______a. Accounting courses completed.______ b. Assessment.______ c. Career center listings.______ d. Career goal.______ e. Desired employment environment.______ f. Grade point average.______.
9 Views
View Answer
62. Irene is pursuing a minor in information systems along with her accounting degree; she is considering studying to become CISA when she graduates. In your own words, explain the career options available to Irene if she becomes a CISA. 64. The textbook discussed four certifications for accountants: CIA, CMA,.
12 Views
View Answer
41.  Which step in the career planning process should be completed without consulting others: (i) determining strengths, aptitudes and abilities, (ii) creating a career mission statement. a. i only. b. ii only. c. Both i and ii. d. Neither i nor ii. 42.  Calculating your grade point average is most important in which.
9 Views
View Answer
57) What is the difference between data, information, and business intelligence? 58) What is shadow data and why is it used? 59) What are the advantages and disadvantages of using a shadow data system? 60) What may be classified as a information asset? Please provide an example. .
9 Views
View Answer
Objective 1 1) Entering data once eliminates the possibility of updating some, but not all of the other entries. 2) According to the Pareto Principle, if you spend 80% of the time designing a database, you will spend 20% of your time maintaining the database. 3) Database management system (DBMS) software transfers data.
15 Views
View Answer
Objective 3 1) The enterprise-wide view of accounting enables the accountant to see how the accounting system interacts with other subsystems in the enterprise system. 2) The Customer Module of a baseline accounting system includes creating purchase orders. 3) The Financial Module of a baseline accounting system includes payroll transactions. 4) The database is.
9 Views
View Answer
21.  A classified ad for a "forensic accountant" is most likely to specify which of the following certifications as a requirement? a. CFE. b. CIA. c. CISA. d. CMA. 22.   Which certifications are most closely associated with the evaluation of accounting information systems? a. CIA and CFE. b. CFE and CMA. c. CISA and CIA. d. CFE.
14 Views
View Answer
Objective 1 1) An IT auditor must understand the terms and definitions used by accounting and IT professionals. 2) Which of the following professionals is the most important group an IT auditor must be able to communicate? A) Accounting and Human Resource professionals B) IT and Sales professionals C) Accounting and IT professionals D) Sales and.
23 Views
View Answer
53. Investigative audits An investigative auditor planned to complete the following actions; number them in their preferred order of occurrence. ______a. Discuss evidence obtained in other steps with the main suspect.______b. Interview accounting employees who created journal entries to cover up an inventory theft.______c. Obtain copies of purchase orders.______d. Question receiving.
9 Views
View Answer
11) Business Intelligence tools use queries to extract data directly from the relational database, bypassing the OLAP cube and any accompanying delay. 12) Data cubes allow you to view data in two dimensions. 13) Private companies (companies that are not publicly traded) are not required to have their internal controls assessed by.
8 Views
View Answer
53. CFE exam content Several topics you might expect to find on the CFE exam are listed below. Match each numbered topic with the most appropriate lettered CFE exam section. ______ 1. 4th amendment issues.______ 2. Balance sheet interpretation.______ 3. Fraud classifications.______ 4. Interviewing techniques.______ 5. Mail fraud statute.______ 6. Obtaining.
10 Views
View Answer
Short answer The following scenario applies to Questions 61 through 65: Kay was frustrated. She was auditing a new client for the first time, but the client's accounting information system was in complete disarray. The client, a multi-national corporation, had boxes and filing cabinets full of paper forms in at least three.
13 Views
View Answer
Objective 4 1) IT infrastructure is the design of an organization's information technology. 2) An IT audit includes auditing the System Development Life Cycle (SDLC). 3) What are the three key factors to consider for a successful accounting system? A) People, Processes, and Technology B) People, Budget, and Time C) Processes, Budget, and Time D) Time, Processes,.
11 Views
View Answer
31.  In a typical career search process, which of the following should occur first? a. Earn a college degree. b. Develop a resume. c. Respond to position announcements. d. Assess your interests and personal characteristics. 32.  "I'm good at working with numbers" is an example of: a. An aptitude. b. A career mission statement. c. A.
11 Views
View Answer
11.  Which of the following occurs first in most audit processes? a. Assess management's integrity. b. Evaluate management's credentials. c. Review the internal control system. d. Perform compliance testing. 12.  The final step in most financial statement audits is: a. Review the internal control system. b. Issue an opinion. c. Prepare financial statements. d. Perform compliance testing. 13. .
14 Views
View Answer
21.  An auditor is dating an accounting manager in a firm he is auditing. His behavior is most likely in violation of a ___ standard. a. General. b. Field work. c. Reporting. d. Forensic. 22. In general, inexperienced auditors take on very focused assignments, with the results being reviewed by more experienced auditors. That.
10 Views
View Answer
Multiple Choice Questions 1.  In general, accounting certifications require all of the following except: a. Education. b. Experience. c. Examination. d. External auditing. 2.   Which of the following professional exams are given in an online format? a. CMA and CFE. b. CFE and CIA. c. CIA and CISA. d. CMA and CISA. 3.   Which of the following professional.
16 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

Verify Your Email

Check your inbox & click on the link to activate your account.

Resend Email
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!

Let us boost your grade together!