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31.Please consider the following short case as you respond to the question:Sue and Sally are partners in a small local bakery specializing in wedding and birthday cakes. They use a simple Excel spreadsheet to record journal entries and prepare financial statements and tax returns. Robert, the owner of a consulting.
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Short Answer Questions 71.List and briefly discuss five major forms of e-business. 72.CSB Corporation has used traditional general ledger software to maintain its accounting records. However, the company is now growing and needs more sophisticated information technology that will provide more comprehensive information for running the firm. Recommend a form of information.
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Multiple Choice Questions1.According to Carter's taxonomy, use of a computer to further a criminal end refers to which of the following categories? A.Target B.Instrumentality C.Incidental D.Associated 2.Which category of computer crime in Carter's taxonomy recognizes that the presence of computers has generated new versions of traditional crimes? A.Target B.Instrumentality C.Incidental D.Associated 3.George received an e-mail that threatened to release his.
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41.According to COBIT 5, an organization's information technology governance and management should separate governance from management. In that context, examples of management include: A.developing a comprehensive organizational budget. B.deciding the dollar amount of an upcoming dividend. C.Both developing a comprehensive organizational budget and deciding the dollar amount of an upcoming dividend. D.Neither developing a.
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66.The CoBIT framework can be used to strengthen internal controls against computer crime in various ways. Indicate whether each statement below is (a) always true, (b) sometimes true or (c) never true.1. As a form of internal control, each step of the systems development life cycle focuses on one of.
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65.For each IT control listed below, indicate the group which most clearly applies: (a) physical security control, (b) technical security control or (c) administrative security control.1. Audible alarm when a computer detects a virus-infected e-mail attachment2. Conflict of interest policy3. Different passwords for each ERP module4. Filing cabinets requiring keys5..
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64.The chapter discussed five types of ASPs: (a) enterprise, (b) local/regional, (c) specialist, (d) vertical market and (e) volume business.Which of the five types best describes each of the following?1. Attendance and vacation tracking for small businesses in St Louis2. Credit card processing for retail department stores3. Diverse IT-related services.
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41.Internal control risks associated with XBRL include: A.Compromised data. B.Tagging errors. C.Both compromised data and tagging errors. D.Neither compromised data nor tagging errors. 42.Internal control risks associated with XBRL include all of the following except: A.Hardware and software failure. B.Lack of appropriate tags. C.Selecting an appropriate taxonomy. D.Compromised data. 43.A disaster recovery plan is a good internal control for which.
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Short Answer Questions 68.List the elements of Carter's taxonomy of computer crime. 69.The COBIT framework comprises five principles and seven enablers. In your own words, explain the relationship between each principle and enabler paired below; the first one is done as an example. a. Meeting stakeholder needs/People, skills and competencies. People inside.
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51.Consider the following case as you respond to the questions:HSO Corp. designs, manufactures and sells golf carts, scooters and similar vehicles. When a prospective client contacts one of their seven corporate offices, the office manager fills out an "intake questionnaire" to determine if HSO can meet the prospective client's needs..
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65.PLM Corporation was preparing to implement its first ERP system. Several actions taken by the ERP project team to promote the project's success are listed below. Which of Umble and Umble's six conditions for successful ERP implementation best describes each one?a. Asked internal auditors to review the work of employees.
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67.Organizations that implement ERP systems bear the risk of project failure for a variety of reasons, one of which is inadequate education and training. Complete the table below to develop an enterprise risk management plan that addresses that risk. 68.Enterprise resource planning systems are a sophisticated form of relational database technology;.
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Multiple Choice Questions 1.SEC filings that use XBRL are labeled in EDGAR as: A.Instance documents. B.Interactive data. C.XBRL documents. D.XBRL data. 2.Which of the following terms best explains the idea that anyone can add to XBRL? A.Extensible B.Specification C.Taxonomy D.Namespace 3.The Internet address that defines XBRL tags is called a(n): A.Specification B.Taxonomy C.Namespace D.Instance document 4.Examples of XBRL instance documents include: A.Statement of cash flows B.Balance sheet C.Income statement D.All.
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11.George received an e-mail that threatened to release his personal financial data unless he paid a fee. That situation is an example of: A.Extortion B.Intrusion C.Information manipulation D.Error 12.An information systems development company routinely creates a password that they do not disclose to their clients. In that way, the development company can bypass any security.
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21.RVW Corporation uses an enterprise resource planning system. An accountant wants to create a report of the last month's sales sorted by client that also includes the name of the salesperson who assisted with each transaction. Which modules of the ERP system will provide the relevant information? A.Customer relationship management and.
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21.The phrase "primary key" is most closely associated with which generic element of an accounting information system? A.Storage B.Database C.Both storage and database D.Neither storage nor database 22.The adjective "pre-numbered" is associated with which generic element of an accounting information system? A.Input B.Internal control C.Both input and internal control D.Neither input nor internal control 23.Consider the following information items as.
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51.Well-known enterprise resource planning systems include: (i) Oracle's PeopleSoft, (ii) SAP, (iii) Microsoft Excel. A.I and II only B.I and III only C.II and III only D.I, II and III 52.Virtually all ERP systems are organized in: A.database queries. B.spreadsheets. C.modules. D.application service providers. 53.Within the context of ERP systems, a module is: A.a part of the program aligned with a.
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31.Consider the following short case as you respond to the question:Melissa is an internal auditor for the County of Bufflufia. Her job responsibilities include providing training on information systems security and checking the work of data entry clerks. Melissa is also part of a team that responds to denial-of-service attacks.
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Essay Questions 63.Fill in the blanks below based on the benefits of XBRL discussed in the text.a. Consolidates results across ___ with much greater speed and reliability.b. Focus effort on ___, rather than on laborious tasks in gathering, compiling and preparing data.c. Free themselves from ___ systems and software which are.
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11.Which of the following is an example of the second step in the sales/collection process? A.A customer completes a form on the Internet. B.A sales clerk scans the customer's credit card. C.The accounting department sends an invoice to the customer. D.The cash receipts department processes the customer's check. 12."The appropriate department processes the customer's check".
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Ranking Questions 61.Rivet Software is one option for creating XBRL-tagged documents. Many organizations follow the six steps listed below to do so; number the steps in the order of their occurrence. Set up an entity profile. Mark up the data. Open tagging software and the file to be tagged. Export the data as an XBRL.
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63.Which element of Carter's taxonomy of computer crime is associated with each item below?a. Computer is not required for the crime but is related to the criminal actb. Computer is used to commit the crimec. Computer use may make a crime more difficult to traced. Growth of the Internet creates.
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51.Carter suggested a four-part taxonomy for classifying computer crime. Which of the following contains elements that would help an accounting professional prevent one or more of the four types? A.COBIT B.AICPA Core Competencies framework C.Both COBIT and AICPA Core Competencies framework D.Neither COBIT nor AICPA Core Competencies framework 52.Carter suggested a four-part taxonomy for classifying.
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66.TWR Corporation attempted to implement its first ERP system using the systems development life cycle, but the project was deemed a failure. Some of the actions that led to the failure are listed below. For each one, indicate the major cause of ERP implementation failure suggested by Umble and Umble.
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Essay Questions 62.Accounting information systems have five generic elements. Which one applies to each item listed below within the context of the sales/collection process? a. Customer check, from the point of view of the seller b. Customer order c. Employee master file d. Invoice e. Maintaining adequate inventory f. Record transactions.
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51.Consider the table below as you answer the questions:In the table, "A" would most appropriately be replaced with: A.Name B.Namespace prefix C.Data type D.Some other label The table is a replica of the one in the chapter's "AIS in the Business World." 52.Consider the table below as you answer the questions:In the table, "B" would most.
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74.Bumble Beasley runs a medium-sized consulting firm with offices throughout the United States and Europe. For the past several years, the firm has provided continuing education to its 500 employees via monthly seminars in various locations. But, travel costs are becoming prohibitively expensive, leading Bumble to look for other ways.
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Essay Questions 61.Information technology controls can be classified as physical, technical or administrative. Consider each independent situation below; suggest one control from the indicated classification that would address (prevent/detect/correct) the risk.a) A bank's customer database is hacked.Administrative: _____________________________________________b) A careless employee spills coffee on a network server.Physical: _____________________________________________c) A corporation's sales.
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62.According to the table presented in the text, which major form of e-business describes each of the following?a. Dell Computersb. eBayc. EDGARd. Internal Revenue Servicef. Travelocity 63.Indicate one ERP module where you would expect to find information about each of the following items.a. Accrued vacation timeb. All transactions affecting cashc. Chart.
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71.The chapter discussed eleven examples of risks and threats to information systems and seven enablers from the COBIT framework. Consider the items below, each of which pairs risk with an enabler; explain how the two are related. The first item is done as an example. a. Fraud/Processes. Every organization should.
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21.The text discussed five terms related to the structure of XBRL. Which of the following pairs of items includes two examples of the same term? A.Balance sheet, Form 10-K B.Global Ledger, International Financial Reporting C.Both balance sheet, Form 10-K and global Ledger, International Financial Reporting D.Neither balance sheet, Form 10-K nor global Ledger, International.
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64.In each statement that follows, circle the business risk or threat that most clearly applies based on the list provided in the text.a. Disclosure of confidential information or intrusion: Employee data are made available on the Internet.b. DOS attacks or extortion: Prevent computer systems from functioning in accordance with their.
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Chapter 12 Sales/Collection Process Answer Key Multiple Choice Questions 1.The fundamental purpose of the sales/collection process is to: A.Provide goods and services to clients. B.Collect payment from them. C.Both provide goods and services to clients and collect payment from them. D.Neither provide goods and services to clients nor collect payment from them. 2.The sales/collection process is important.
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Multiple Choice Questions: 1.Which of the following is most closely related to one of the benefits of e-business discussed in the text? A.Internal controls B.Company finances C.Selling to a broader range of customers D.All of these are related to benefits of e-business. Internal controls can allow an organization to streamline its operations. Company finances are related.
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62.Fill in the blanks below according to the principles and enablers of the COBIT framework.a. ___, policies and frameworks.b. Applying a ___.c. Covering the enterprise ___.d. Culture, ___ and behavior.e. Enabling a ___ approach.f. Meeting ___ needs.g. Organizational ___.h. People, ___ and ___.i. Separating ___ from ___.j. Services, infrastructure and.
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69.Reliable Reminder Services is a small company that, for a fee, assists its clients in remembering important dates, purchasing and sending greeting cards and providing specialized shopping services for occasions like birthdays and anniversaries. The company's owners want to use an application service provider to develop and host a web.
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Short Answer Questions 71.Explain the structure of XBRL, including its relationship to XML. 72.Explain, in your own words, how most organizations create XBRL instance documents. Specifically address the role of information technology in that process. 73.The use of XBRL creates some risk exposures for organizations; those risk exposures should be addressed via various.
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21.According to COBIT's principles, information technology governance and management should: A.focus on the four purposes of internal control. B.address systems risk only. C.apply a single integrated framework. D.apply an end-to-end framework. 22.According to COBIT's principles, information technology governance and management should enable a ___ approach. A.stakeholder B.framework C.behavioral D.holistic 23.COBIT comprises ___ principles and ___ enablers. A.five; seven B.seven; five C.five; five D.seven; seven 24.According.
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69.XBRL creates certain benefits for both accountants and organizations. Consider the statements below; rewrite each one to reflect a benefit of XBRL.1) A company with divisions in more than one country will have to cope with differences in hardware, software, language, currency and terminology in preparing its consolidated financial statements.2).
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31.Consider the following flowchart symbols as you respond to the question:BLG Corporation uses systems flowcharts to teach its new employees about company procedures. If BLG adopts XBRL, those system flowcharts will likely incorporate fewer of ___ because ___. A.Symbol C; databases are unnecessary when using XBRL B.Symbol A; no manual processes are.
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Ranking Questions 61.Please put the steps in the sales/collection process listed below in order of their usual occurrence based on the description given in the text. Take a customer's order Collect payment Ship the product Process uncollectible receivables as necessary Bill the customer Approve the customer's credit Fill the order based on approved credit 12-1 .
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11.The "X" in XBRL stands for extensible. Which of the following can an individual company extend when using XBRL? A.Instance documents B.Taxonomies C.Specifications D.All of these 12.XBRL provides ___ for a company's financial information. A.Context B.GAAP C.Both context and GAAP D.Neither context nor GAAP 13.Which of the following terms describes the relationship between XBRL and XML? A.Extensible B.Specification C.Taxonomy D.Instance document 14.XBRL's structure is flexible,.
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Essay Questions 61.Fill in the blanks below based on the benefits and costs of e-business discussed in the chapter.a. ___ marketsb. Financial costs associated with ___c. Geographic ___d. More ___ marketinge. Need to develop different ___ systemsf. Potential for ___g. Quicker ___ deliveryh. Reduced ___i. Severe consequences for ___j. Streamlined ___ 10-1 .
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41.Consider the following short case as you respond to the question:SPC Corporation sells computer security software. They maintain their AIS using general ledger software; data files are backed up twice a day. Sales staff can access the customer database, inventory files and general ledger, as well as sales-related documents such.
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63.Several journal entries common to the sales/collection process are listed below. For each, explain what transaction the entry is recording. 64.Several symbols that might be used in a systems flowchart of the sales/collection process are listed below.Indicate which symbol should be used to depict each of the following. Some symbols may.
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67.Rivet Software is one option for creating XBRL-tagged documents. Many organizations follow the six steps listed below to do so; prepare a systems flowchart of the six steps. (Assume all six steps are completed in the same department.) 1. Download taxonomies. 2. Open tagging software and the file to be.
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