ACCT 307
The Sarbanes-Oxley Act of 2002: a) enables US officers to wiretap corporate phones if required b) has led to a decrease in the amount of work done by auditors and accountants c) forbids corporations from making personal loans to executives d) requires the CEO of a public company to take responsibility for the reliability for its financial statements
c) forbids corporations from making personal loans to executives
The acronym SAR stands for: a) simple accounting receipts b) suspicious accounting revenue c) suspicious activity reporting d) standard accounts receivable
c) suspicious activity reporting
An organization will always need to upgrade to a new AIS if: a) a major competitor buys a new package b) customers complain about late deliveries c) the company wants to begin doing business over the Internet d) none of the above are necessarily reasons to buy new accounting software
d) none of the above are necessarily reasons to buy new accounting software
the difference between a database management system(DBMS) and a database is?
DBMS is a program software and a database is proprietary data and related files
Which of these database tools is an accounting manager most likely to perform online, "drill-down" analyses?
OLAP
Mid-level accounting software: a) can only be deployed through a server networked with desktop computers b) may be purchased in modules that match various business processes c) will not be appropriate for a multinational company because these programs cannot handle foreign currencies d) is generally inappropriate for a company operating in a specialized industry, such as retail or not-for-profit
b) may be purchased in modules that match various business processes
Video output can also be called: a) hard copy output b) soft copy output c) image output d) pixilated output
b) soft copy output
Accounting and enterprise software can be expensive. Which of the following is likely to be the highest cost associated with a new AIS? a) the cost of new hardware b) the cost of implementing and maintaining a new system c) the cost of the software d) the cost of converting old data for the new system
b) the cost of implementing and maintaining a new system
Which of these acronyms represents a law involving health assurance and privacy? a) ABC b) HIPAA c) CPA d) SOX e) XBRL
b)HIPPA
All of the following are markup languages (that use edit tags) except: a) HTML b) IP c) XML d) XBRL
b)IP
A dashboard is: a) a computer screen used by data entry clerks for input tasks b) a physical device dedicated to AIS processing tasks c) a summary screen typically used by managers d) a type of blackboard used by managers to present useful information to users
c) a summary screen typically used by managers
Within the context of ERP systems, a mashup is: a) a combination of several accounting systems b) the mess created when ERP systems fail to interface with legacy systems c) a web page that can combine data from two or more external sources d) the informal name given to annual ERP conferences
c) a web page that can combine data from two or more external sources
With respect to computerized AIS, computers: a) Turn data into information in all cases b) make audit trails easier to follow c) cannot catch mistakes as well as humans d) do not generally process information more quickly than humans
c) cannot catch mistakes as well as humans
All of these are components or layers, of a client/server computing system, except: a) Presentation layer b) application/logic layer c) client layer d) data management layer
c) client layer
The term "I/O Bound" means that: a) computers must input and output data when executing accounting applications b) AIS are headed for the land of I/O c) computers can "think" faster than they can read or write d) computers are obligated to make inferences and oversights
c) computers can "think" faster than they can read or write
A document file containing XBRL tags is a(n): a) extranet document b) intranet document c) instance document d) URL
c) instance document
Which of the following is a distinguishing characteristic of an enterprise-wide (ERP) system? a) must be a hosted solution b) multiple databases c) integration of business functions d) low cost
c) integration of business functions
Data transcription is best described as: a) an efficient process b) always necessary in AISs c) labor intensive and time consuming d) an important way to limit fraud and embezzlement
c) labor intensive and time consuming
Which of the following is likely to be information rather than data? a) Sales Price b) Customer Number c) Net Profit d) Employee Name
c) net profit
Spoofing means: a) kidding someone about their computer b) simulating a disaster to test the effectiveness of a disaster recovery system c) posing as an authentic user to gain access to a computer system d) encrypting data for security purposes
c) posing as an authentic user to gain access to a computer system
Low-end accounting software is increasingly complex and sophisticated. However, software costing only a few hundred dollars is not likely to: a) provide information to multiple stores where a company operates more than one b) include a chart of accounts that users may customize to suit their industry c) provide all the information needed to optimize customer and supplier relationships d) provide information for budgeting decisions
c) provide all the information needed to optimize customer and supplier relationships
Which of these acronyms is a certification for information professionals? a) ABC b) HIPAA c) CBA d) CITP e) XBR
d) CITP
Which of these identifies a private, point-to-point network? a) EDI b) DES c) IP d) VAN
d) VAN
A forensic accountant is one who: a) has a variety of skills, such as investigation, accounting, and auditing b) can find and collect pieces of information that provide evidence of criminal activity c) might be certified d) all of the above
d) all of the above
How would you describe "big data"? a) cloud computing can be used to support data analytics projects b) a combination of large, complex data sets c) the definition depends on the capabilities of the organization that manages the data d) all of the above
d) all of the above
Which of the following reasons might explain why a small business owner would hire a CPA firm or a software consultant to help select accounting software? a) to train employees to use the software b) to help the firm identify useful reports for decision-making c) to help with rescue/recovery needs should a disaster occur d) all of the above
d) all of the above
Which of the following enables users to view data with a web browser? a) Intranet b) extranet c) internet d) all of these
d) all of these
Purchasing backup services from an Internet vendor is an example of: a) OCR b) modem services c) virtual storage d) cloud computing
d) cloud computing
Which of these devices is capable of storing the most data? a) CD-ROM disk b) DVD disk c) USB (flash memory) drive d) magnetic (hard) disc
d) magnetic (hard) disc
Which of the following is NOT true regarding assurance services? a) auditors of public companies are no longer allowed to provide assurance services to any public company as a result of the Sarbanes-Oxley Act of 2002 b) assurance services include online privacy evaluations c) activity-based costing is not a type of assurance service d) only CPAs can provide assurance services to clients
d) only CPAs can provide assurance services to clients
All of the following are reasons why IT is important to accountants EXCEPT: a) accountants often help clients make IT decisions b) auditors must evaluate computerized systems c) IT questions often appear on professional certification examinations d) the costs of IT are skyrocketing
d) the costs of IT are skyrocketing
describes the policies, plans, and procedures implemented by the management of an organization to protect its assets, to ensure accuracy and completeness of its financial info, and to meet its business objectives
internal control
To construct a select query in Microsoft access in which you want to satisfy two conditions simultaneously that is implement an and operation you should?
specify both criteria in separate fields of the criteria line of the query
All of the following are examples of DBMSs except: a. access b. oracle c. DB2 d. SQL
d. SQL
SQL is an example of:
A query language
All of the following are examples of action queries except:
Find missing data query
To identify all those employees receiving payroll checks but who have no matching record in a payroll master file, you should use a(n):
Find unmatched records query
The difference between (1) using an update query and (2) updating a single record is:
The first updates all selected records, the second only affects one record
Assigning overhead costs based on the resources, rather than only direct labor, used in manufacturing is an example of: a) Activity based costing (ABC) b) budgeting c) cost-plus accounting d) financial, rather than managerial, accounting
a) Activity based costing (ABC)
Which of the following is NOT true about accounting information systems (AISs)? a) All AIS are computerized b) AIS may report both financial and non-financial information c) AIS, in addition to collecting and distributing large amounts of data and information, also organize and store data for future uses d) A student who has an interest in both accounting, and IT, will find many job opportunities that combine these knowledge and skills areas
a) All AIS are computerized
The RAM of a computer is part of: a) Primary memory b) secondary storage c) arithmetic-logic unit d) modem
a) Primary memory
Which of the following is true? a) XBRL is a subset of XML b) XML is a subset of TCP c) PBX is a subset of HTML d) None of these is true
a) XBRL is a subset of XML
Which of these statements is correct? a) a VPN is a type of private network b) DES stands for "data entry system" c) an IDS is the same as a firewall d) all of these statements are correct
a) a VPN is a type of private network
Components of an ERP's architecture typically include: a) a centralized database and application interfaces b) internet portals and multiple databases c) a centralized database running on a mainframe computer d) business intelligence and multiple databases
a) a centralized database and application interfaces
Which of the following describes "cloud computing"? a) business applications over the internet b) it is a subset of e-business c) the ability of a company to exchange data with its subsidiaries d) none of the above
a) business applications over the internet
The acronyms POS, MICR, and OCR are examples of: a) input devices b) processing devices c) output devices d) communication devices
a) input devices
To achieve appropriate, effective IT governance, senior managers of an organization will typically use which of the following: a. COBIT and VAL IT b. A good audit trail and COSO 1998 c. COSO 1998 and monitoring d. COBIT and ERM
a. COBIT and VAL IT
Which of the following would a manager most likely use to organize and evaluate corporate governance structure? a. The 1992 COSO Report b. The 2004 COSO Report c. The Sarbanes-Oxley Act of 2002 d. COBIT
a. The 1992 COSO Report
COSO recommends that firms _____ to determine whether they should implement a specific control. a. Use cost-benefit analysis b. Conduct a risk assessment c. Consult with the internal auditors d. Identify objectives
a. Use cost-benefit analysis
In the REA model, the "A" stands for: a. agents b. additions c. accounts d. associations
a. agents
AISs often depend on codes to record, classify, store, and retrieve financial data. which of the following codes is a group of numbers reserved for particular uses? a. block codes b. mnemonic codes c. alphanumeric codes d. numeric codes
a. block codes
which of the following is NOT an objective of the sales process? a. controlling inventory b. tracking sales of goods and/or services to customers c. billing for goods and services d. forecasting sales and cash receipts
a. controlling inventory
which of the following source documents is common to both the sales and the purchasing processes? a. debit/credit memoranda b. financial statement info c. discrepancy reports and bad debt report d. none of the above
a. debit/credit memoranda
According the PCAOB standard No. 5, which of the following is an example of an entity level control? a. effectiveness of the board of directors b. personnel controls c. access to computer files d. all of the above
a. effectiveness of the board of directors
Fault-tolerant systems are designed to tolerate computer errors and are built on the concept of _____________. a. redundancy b. COBIT c. COSO d. integrated security
a. redundancy
To adjust the minimum wage of all payroll employees to the current federal level, you should use an a. updated query b. append query c. fin minimum query d. tax expert
a. updated query
To link the records in a many-to-many relationship within a relational database: a. you must create an intermediate "relationships" table b. you must create a new database c. you must use foreign keys and a spreadsheet system d. you cannot link records together under these circumstances
a. you must create an intermediate "relationships" table
An example of a validation rule is
an input value must be between 0 and 40
In selecting a new AIS, a company's management should: a) always hire a consultant b) always consult with your accountant during the decision process c) never rely on your accountant for helping in this decision d) always use an Internet software service to make this decision
b) always consult with your accountant during the decision process
The term "enrollment" is most closely associated with: a) keyboards b) biometric scanners c) printers d) modems
b) biometric scanners
Which of these is NOT an acronym? a) HTML b) blog c) IDS d) Internet
b) blog
which of the following would be most helpful for a university to manage admissions, grading, attendance, student messaging, and alumni? a. a supply chain report b. CRM software c. BPO d. BPM software
b. CRM software
Segregation of duties is a fundamental concept in an effective system of internal control. But, the internal auditor must be aware that this safeguard can be compromised through: a. Lack of training of employee b. Collusion among employees c. Irregular employee reviews d. Absence of internal auditing
b. Collusion among employees
Which of the following is not one of the four objectives of an internal control system? a. Safeguard assets b. Promote firm profitability c. Promote operational efficiency d. Encourage employees to follow managerial policies
b. Promote firm profitability
which of the following is a relatively new way to manage inventory? a. a purchase analysis report b. RFID tags c. BPM software d. an inventory register
b. RFID tags
Which of the following is not one of the three additional components that was added in the 2004 COSO Report? a. Objective setting b. Risk assessment c. Event identification d. Risk response
b. Risk assessment
Which of the following would a manager most likely use for risk assessment across the organization? a. The 1992 COSO Report b. The 2004 COSO Report c. The Sarbanes-Oxley Act of 2002 d. COBIT
b. The 2004 COSO Report
Which of the following accounting software programs would be appropriate for a small business (e.g., a sole proprietorship with 20 employees)? a) SAP b) QuickBooks c) NetSuite d) Oracle
c) NetSuite
All of the following are protocols for transmitting data over the internet except? a) IP b) HTTP c) XML d) all of these are protocols
c) XML
AIS reports should be consistent in at least three ways. which of the following is NOT one of those ways? a. over time b. across firms c. across departmental or divisional levels d. with general accounting practice
b. across firms
which of the following reports is common to both the sales and the purchasing processes? a. cash receipts forecast and cash requirements forecast b. financial statement info c. discrepancy reports and bad debt report d. none of the above
b. financial statement info
Which of these would not be a good primary key for a file of employee records? a. Social Security number b. last name c. company employee number d. all of these would make equally good primary keys
b. last name
Which of the following is not a computer facility control? a. place the data processing center where unauthorized individuals cannot gain entry b. limit access to the data processing center to all employees of the company c. buy insurance to protect against loss of equipment in a computer facility d. use advanced technology to identify individuals who are authorized access to the data processing center
b. limit access to the data processing center to all employees of the company
Which of these is not a cardinality between two database entities? a. one-to-one b. none-to-none c. one-to-many d. many-to-many
b. none-to-none
The part of the data hierarchy that represents one instance of an entity is a: a. field b. record. c. file d. database
b. record.
A ___________ is a comprehensive plan that helps protect the enterprise from internal and external threats. a. firewall b. security policy c. risk assessment d. VPN
b. security policy
Within the context of databases, the term "concurrency" refers to the possibility that: a. a customer of one store might also be a customer of another store b. two database users might want to access the same record at the same time c. a credit entry fro a customer requires a debit entry fro a matching account d. none of these
b. two database users might want to access the same record at the same time
In entering the billing address for a new client in Emil Company's computerized database, a clerk erroneously entered a nonexistent zip code. As a result, the first months bill mailed to the new client was returned to the Emil Company. Which one of the following would most likely have led to the discovery of the error at the time of entry into Emil Companys computerized database? a. limit test b. validity test c. parity test d. record count test
b. validity test
Which of the following is most likely to contain only numbers? a) domain address b) URL address c) IP address d) postal address
c) IP address
Which of these is not one of the three major types of controls? a. Preventive b. Corrective c. Objective d. Detective
c. Objective
Which one of the following forms of audit is most likely to involve a review of an entity's performance of specific activities in comparison to organizational specific objectives? a. Information system audit b. Financial audit c. Operational audit d. Compliance audit
c. Operational audit
Separation of duties is an important control activity. If possible, managers should assign which of the following three functions to different employees? a. Analysis, authorizing, transactions b. Custody, monitoring, detecting c. Recording, authorizing, custody d. Analysis, recording, transactions
c. Recording, authorizing, custody
Section 404 affirms that management is responsible for establishing and maintaining an adequate internal control structure. This section may be found in which of the following? a. The 1992 COSO Report b. The 2004 COSO Report c. The Sarbanes-Oxley Act of 2002 d. COBIT
c. The Sarbanes-Oxley Act of 2002
which of the following is/are cited as primary reason/s to outsource a function? a. cut costs b. strategic advantage c. a and c d none of the above
c. a and c
_______ is/are a collection of activities or flow work in an organization that creates value. a. an economic event b. accounting transactions c. a business process d. a chart of accounts
c. a business process
A _________ site is a disaster recovery site that includes a computer system like the one the company regularly uses, software, and up to date data so the company can resume full data processing operations within seconds or minutes. a. hot b. cold c. flying-start d. backup
c. flying-start
which of the following business processes is most often targeted for offshoring? a. janitorial services b. landscaping maintenance c. information technology d. employee training
c. information technology
What is the typical cardinality between a customer and a purchase event? a. one-to-one b. many-to-many c. one-to-many d. none-to-one
c. one-to-many
what types of data can be stored in modern databases? a. text and graphics b. text only c. text, graphics, video files, and programming code d. none of the above
c. text, graphics, video files, and programming code
A database is in third form (3NF) if it is second normal form and: a. all the data attributes in a credo crd are well defined b. al the data attributes in a record depend upon the record key c. the data contain no transitive dependencies d. the data can be stored in two or more separate tables
c. the data contain no transitive dependencies
Which of these acronyms stands for a computer language used for reporting business activities? a) ABC b) HIPAA C) CPA d) SOX e) XBRL
e)XBRL
An internal control system should consist of five components. Which of the following is not one of those five components? a. The control environment b. Risk assessment c. Monitoring d. Performance evaluation
d. Performance evaluation
When the management of the sales department has the opportunity to override the system of internal controls of the accounting department, a weakness exists in: a. Risk management b. Information and communication c. Monitoring d. The control environment
d. The control environment
A ________ is a security appliance that runs behind a firewall and allows remote users to access entity resources by using wireless, handheld devices. a. data encryption b. WAN c. checkpoint d. VPN
d. VPN
if a manager wanted to sort out any differences between quantities or amounts on the purchase order, the receiving report, and the purchase invoice, which of the following AIS reports would be most useful? a. a purchase analysis report b. an inventory control report c. a check register report d. a discrepancy report
d. a discrepancy report
An insert anomaly occurs when the database user cannot: a. delete data b. modify data c. view data d. add new data
d. add new data
In the REA model, which of these would not be classified as an event? a. cash sale b. credit sale c. hiring a new chief executive d. date of the office picnic
d. date of the office picnic
Which of these does not characterize a typical database? a. large number of records b. irreplaceable data c. high need for accuracy d. simple systems
d. simple systems
which of the following provides the organization structure for the general ledger? a. special journals b. a source document c. general journals d. the chart of accounts
d. the chart of accounts
Disaster recovery plans may not be of much use if _________________. a. they are not fully documented b. the organization does not have a cold site for relocation purposes c. the organization does not expect any natural disasters to occur d. they are not tested periodically and revised when necessary
d. they are not tested periodically and revised when necessary
