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Study Resources (Accounting)

FILL-IN-THE-BLANK QUESTIONS 31.__________ auditors commonly undertake audits that are reviewed and relied upon by __________ auditors. 32.When batch processing was the dominant method used in computerized data processing, the __________ approach provided an adequate audit. 33.A clear and obvious benefit is obtained from the __________ analysis capability provided by information technology. 34.The __________ __________.
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102.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. Ring structure _____  2. Alias _____  3. ISAM _____  4. Relational algebra _____  5. Tuple _____  6. Activity.
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11.Nominalization is the process of applying rules to normal forms in relational database structures. 12.In the first normal form, repeated groups are allowed. 13.An index file is fully inverted when indexes exist for all of its fields. 14.Sequential-access files are often referred to as ISAM files. 15.Using the direct-access method, the only thing needed.
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ESSAYS 97.Name five options available to organizations to train employees when a system is newly installed or modified. 98.What are some of the reasons why time estimates are often inaccurate? 99.Briefly describe the following three methods of converting from an old system to a new system, and give the advantages and disadvantages.
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41.  Source documents in an accounting information system include sales invoices, purchase orders and: a.Bank statements.b.Reports of projected stock prices.c.Evaluations of accounting staff.d.Currency and coin. 42.  Internal controls such as ____ help promote information reliability in the accounting information system. a.Financial statements.b.Bank reconciliations.c.Budgets.d.Computers. 43.  The web site for Dell Computers is an example of.
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66.Which of the following should be developed when the related application system is developed? a.  Test data approach b.  Integrated test facility c.  Parallel simulation approach d.  Artificial intelligence software 67.Which of the following processes real data through a test program? a.  Test data approach b.  Integrated test facility c.  Parallel simulation approach d.  Artificial intelligence software 68.An audit technique .
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112.Describe how list organization and multilist organization work in tree and network databases. Also, distinguish between a list structure and a ring structure in the implementation of tree and network structures. How does the list organization make database maintenance difficult? Under what circumstances is the list organization effective? 113.Discuss the conceptual.
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76.Which of the following information system auditing technologies produces a printed audit trail of computer processing? a.  Extended records b.  Snapshot c.  Sample audit review file d.  System control audit review file 77.Tracing of a program’s execution provides: a.  programmed edits for input data items b.  test data for subsequent processing c.  a detailed listing of the sequence.
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PROBLEMS 94.The estimated time to complete a portion of a systems development project is 20 employee-hours.  Use the adjustment factors below to calculate the revised time estimate to reflect that (a) the task is judged to be simple, (b) the task will be assigned to a high-competency junior employee, and (c).
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11.ITF is a powerful information system audit technology. 12.Parallel simulation processes test data through real programs. 13.Parallel simulation is appropriate where transactions are sufficiently important to require a 100 percent audit. 14.GAS has a long history of usage because public accounting firms developed it in the 1960s. 15.Some embedded audit routines use automated collection.
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PROBLEMS 93.Below are listed four procedures typically performed during an audit of accountspayable: Audit procedures: a.  Test the mathematical accuracy of the accounts payable subsidiary ledger. b.  Select samples of vouchers to examine in detail. c.  Determine whether cash discounts were properly applied. d.  Stratify accounts by value. Required:  Briefly state a generalized audit software technique that.
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56.When implementing a new system, management often has to decide whether to train existing employees or hire new employees. Many times it is best to retain and retrain current employees because: a.  current employees are already familiar with the firm’s operations b.  overall employee morale is enhanced c.  current employees are already familiar.
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11.A project is a specific application that has been approved for development. 12.An important criterion used in selecting projects for development is the project’s expected return on investment. 13.The basic resource in any systems project is time. 14.The project leader uses a project accounting system to fulfill his or her project control responsibilities. 15.The.
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11. Accounting information systems typically incorporate which of the following: (i) inputs, (ii) outputs, (iii) storage. a.i and ii only.b.ii and iii only.c.i and iii only.d.i, ii, and iii. 12. In an accounting information system, "inputs" often come in the form of: a.Source documents.b.Financial statements.c.Computer reports.d.Internal controls. 13. According to the text, information about.
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21.SQL is a non-procedural programming language. 22.In SQL, WHERE must be used to determine which records from the tables listed in the FROM clause will appear in the results of the SELECT statement. 23.In SQL, the IN operator allows the selection of rows within a column value which matches any value from.
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MULTIPLE-CHOICE QUESTIONS 46.“Auditing with the computer”: a.  is only performed by external auditors b.  involves activities related to compliance testing c.  is only performed by internal auditors d. involves activities related to substantive testing of account balances 47.“Auditing through the computer” refers to: a.  substantive tests b.  compliance tests c.  transaction tests d.  application control tests 48.An interim audit: a.  consists only.
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66.In the object-oriented modeling technique, an object class has the following structure: PAPER_INVENTORY (SUPPLIER_NO, DISCOUNT) What is the structure of the subclass COPY having the unique attributes QUANTITY and TYPE? a.  COPY (QUANTITY, TYPE) b.  COPY (SUPPLIER_NO, QUANTITY, TYPE) c.  COPY (SUPPLIER_NO, DISCOUNT, QUANTITY, TYPE) d.  COPY (PAPER_INVENTORY, QUANTITY, TYPE) 67.Network, tree, and relational models are examples.
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MATCHING QUESTIONS 101.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. DBA _____  2. Inheritance _____  3. Occurrence _____  4. Branch _____  5. Database model _____  6. Record _____ .
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21.A weekly cost report that is available three weeks after the report date is still an effective tool for overall project control purposes. 22.If data are input into the project accounting system that is both accurate and timely, it can produce revised cost estimates that are both accurate and timely. 23.The level.
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MATCHING QUESTIONS 91.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. Mapping _____  2. Compliance testing _____  3. Extended records _____  4. Substantive testing _____  5. Interim.
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56.Information technology is used to perform some audit work that otherwise would be done manually. The use of information technology by auditors is: a.  essential b.  mandatory under AICPA Statements of Auditing Standards c.  optional d.  at the sole discretion of the manager in charge of the audit 57.An external auditor conducts an information systems.
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21. The relationship between accounting information systems and information technology is most clearly shown by: (i) using debits and credits to record transactions, (ii) incorporating journals and ledgers as processing tools. a.i only.b.ii only. c.Both i and ii.d.Neither i nor ii. 22.  Problems in accounting information systems are often less likely to.
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86.The cost of processing per transaction in a high-activity environment is the lowest in which of the following file organization techniques? a.  Indexed b.  Sequential c.  Direct d.  Indexed-sequential 87.Response time is affected by: a.  disk access time b.  how data records are physically distributed on the disk c.  the database management system but not the operating system d. .
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104.Listed below are ten examples of file organization. Required: From the following three choices, match the file organization technique with each of the ten examples listed. All techniques will be used more than once. S = Sequential IS = Indexed-sequential D = Direct access _____ 1.  A large manufacturing company pays all employees once a.
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FILL-IN THE BLANK QUESTIONS 31.To determine the activities that are critical to keeping a project on schedule, __________ __________ must be obtained for each individual activity of the project. 32.An announcement by management regarding project execution will have the benefit of minimizing __________. 33.Any successful systems implementation requires that considerable attention be given.
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PROBLEMS 105.A database contains the following data: Student Schedule (Student#, Student_name, Major, Course#1, ClassTime1, Location1, Course#2, ClassTime2, Location2, Course#3, ClassTime3, Location3) Required: Normalize this relation through the third normal form. 106.Assume that the customer master file and the transaction file consist of the record numbers shown in the following sequence: Master file3, 7, 23, 76,.
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93.Presented below is a list of different performance measures for hardware, software, and systems personnel. The second list contains the items or personnel relating to the performance measures. Required: Match the appropriate letter to the performance measure. All letters will be used at least once, and some more than once. _____  1..
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99.Because resources are usually limited, not all applications can be audited each year. What factors should an internal or external auditor consider when deciding which applications to audit? 100.Briefly describe the three phases of an information systems audit. 101.Describe three areas that an auditor could examine in an audit of a computer.
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MATCHING QUESTIONS 91.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. Network diagram _____  2. Gantt chart _____  3. Parallel operation _____  4. Modular conversion _____  5..
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TRUE/FALSE QUESTIONS 1.The terms field, data item, attribute, and element are synonyms. 2.A field would be composed of “customer name” and “customer account number.” 3.Variable-length records are easier to manipulate than fixed-length records because the size of the variable-length record is generally smaller than the fixed-length record. 4.Occurrences are also known as instances. 5.Related groups.
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66.The most expensive approach to final systems testing is: a.  parallel operation b.  modular conversion c.  the direct approach d.  the file conversion approach 67.The Weapons Testing Laboratory is implementing a new computer system. It desires to use the safest final system testing approach. It should choose: a.  the direct approach b.  parallel operation c.  the cutoff approach d. .
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MULTIPLE-CHOICE QUESTIONS 46.A list of activities that is strategic to the project to keep it on schedule is called: a.  the critical path b.  a PERT diagram c.  a Gantt chart d.  the manager’s priority matrix 47.Good project management uses plans for implementing a system. The plans should provide: a.  specific budget information b.  a breakdown of the.
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76.The processing time required to maintain a fully inverted file: a.  is fast since the entire index can be loaded into primary memory b.  is almost instantaneous because long indexes can be factored into subindexes c.  is fast when two processors are used simultaneously to process the data and index files      at.
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FILL-IN-THE-BLANK QUESTIONS 31.The smallest block of data that can be stored and retrieved in an information system is a(n) __________. 32.__________ are one of the fundamental building blocks used to construct databases. 33.The term __________ ________ order applies to a field on which the file is not sorted. 34.In the E-R conceptual model, the.
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21.Specific documentation showing the nature of application controls in a system is known as control flowcharting. 22.Most information system audits follow a four-phase structure, which is followed by analysis and reporting of results. 23.An audit program is a detailed list of the audit procedures to be applied on a particular audit. 24.An information.
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ESSAYS 96.Why are most audits now performed by auditing through and with the computer? 97.Explain why external auditors perform compliance testing when a main objective of a financial statement audit is to express an opinion regarding the fairness of the monetary balances in a company’s financial statements. 98.How have personal computers likely affected.
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31.  Which of the following is the best example of "information" as the term is used in "accounting information systems?" a.Rules of debit and credit.b.Budgets.c.Conceptual framework of accounting.d.Source documents. 32.  The "information" in an accounting information system should be: (i) timely, (ii) truthful, (iii) reliable. a.i and ii only.b.ii and iii only.c.i and.
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56.Four records have the record structure: PART (PART_NO, WARHSE). PART (101,1) PART (101,2) PART (103,1) PART (106,1) Which of the following would be appropriate to use as a record key? a.  PART b.  PART_NO c.  WARSHE d.  Answers b and c combined would form a record key. 57.To process and locate records in files, it is necessary to use a(n): a. .
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95.Listed below are five examples of auditing situations and five information systems auditing techniques. Required: First, match the letter of the information system auditing technique which best identifies the example. Then, in the space below each item, write a brief explanation of how the technique works in the situation. A.  Integrated test.
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76.The operational principle behind factoring a project into phases and tasks is: a.  top-down design with successive refinement b.  to schedule all activities according to CPM methodology c.  that each specific task or phase should provide a deliverable at its completion d.  to use analytic flowcharts to factor a project into modules 77.One goal of.
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TRUE/FALSE QUESTIONS 1.Auditing activities undertaken during substantive testing of account balances can be described as “auditing through the computer.” 2.The external auditor serves the firm’s stockbrokers, the government, and the general public. 3.Total audit cost is increased significantly when some audit resources are directed at reviewing and verifying the internal controls that exist.
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107.Below are three situations in which the Data Definition Language (DDL), the Data Manipulation Language (DML), or the Data Query Language (DQL) of a database management system will be used. Indicate on the line beside each situation which of the languages would likely be used.               _____ A.  A programmer.
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ESSAYS 109.Discuss the relative benefits and drawbacks of the following file organizationmethods: a.  sequential b.  indexed-sequential c.  direct 110.Describe the duties of the database administrator (DBA) regarding the data dictionary. 111.Describe the index, prime area, and overflow area in an ISAM file structure. .
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92.Presented below is a list of terms related to project leader responsibilities. Required: For each term, insert the letter for the project leader responsibility to which the term relates. Use  for planning,  for scheduling, and  for control Each letter will be used more than once. _____  1. Progress and time reporting _____  2..
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Multiple Choice Questions 1.  Which of the following are parts of most accounting information systems? a.Activities and documents only.b.Activities and technology only.c.Documents and technology only.d.Activities, documents and technology. 2. Accounting information systems are designed to: a.Minimize cost.b.Maximize use of information technology.c.Report information to decision makers.d.Eliminate the need for paper documents. 3.Which of the following statements.
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92.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. Audit program _____  2. System control audit review file _____  3. Auditing around-the-computer _____  4. In-line.
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TRUE/FALSE QUESTIONS 1.Delays are routine during implementation because it is impossible to anticipate all potential problems during the systems design process. 2.Gantt charts can be very helpful because they show the order in which activities must be performed. 3.Selecting and training personnel is one of the implementation activities that are carried out based.
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MULTIPLE-CHOICE QUESTIONS 46.Fields associated with other fields in a logical grouping are known as: a.  elements b.  records c.  data items d.  attributes 47.In the CUSTOMER record, the field NAME contains the word “Jones” along with 20 spaces after the last character. This is an example of a: a.  variable-length record b.  data item c.  fixed-length record d.  trailer 48.In data.
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103.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. Logical data structure _____  2. Key _____  3. Node _____  4. DQL _____  5. Element _____  6. Hypertext.
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