Accy 310 Quiz 1-12

The following are causes and/or results of multitasking on activities that require some degree of focus (select all that apply)

lower impulse control, less productivity, reduced quality of work output

In one of your assigned readings, what are the two dimensions that impact a technology use cases

novelty and complexity

The use of automation applications to reduce the amount of human labor required to process accounting and finance department transactions is ______

robotic process automation

Audit data standards were developed by

AICPA

2-3 Hours

According to an assigned reading, the amount of non-classroom preparation time an average college student should plan on spending outside the classroom for each classroom hour in order to do well in a university course is:

People wearing sunglasses, through car windshields, people wearing hats

According to one of the assigned readings, facial recognition technology has improved to the point that accurate facial recognition can take place for which of the following?

A BPMN process flow can start in one pool and end in the collaborating pool

False

A company's audit committee is responsible for fraud risk assessments

False

According to an assigned reading, one key limitation to our brain's capacity is the amount of cerebrospinal fluid required to protect the brain from sudden impact

False

According to an assigned reading, predictions of the depletion of internet addresses using the older addressing scheme began in 2000, in conjunction with concerns about the dot-com bubble

False

According to an assigned reading, the best way to memorize internet protocol addresses using the most recent standard is to mentally group them into blocks of characters

False

According to an assigned reading, the key to becoming extremely successful is taking on many different projects in order to find out what you're best at

False

According to an assigned reading, the stirrup changed warfare dramatically by allowing the rider to mount the horse more easily

False

According to one of the assigned readings, Proctor & Gamble use heat maps to save on energy costs in their production facilities

False

According to one of the assigned readings, SAP's main consideration in targeting Silicon Valley acquisitions is to increase its dominance in the client-server software market

False

According to one of the assigned readings, penetration testing should be a key consideration when evaluating the physical controls in place at cloud service providers.

False

According to one of the assigned readings, the primary aim for new tools designed to monitor the "Internet of Things" is to help industrial management react faster to issues.

False

According to one of the readings, technology has been a key enabler of real cost reductions in the prices of manufactured goods as well as services

False

According to your assigned reading, in 2012, consulting revenues at all Big Four firms are greater than audit revenues

False

Accounting and Finance is a primary activity in the value chain.

False

Application controls limit access to viewing and changing records in a system

False

Application controls limit who can change records in a system

False

California's new digital privacy law is fairly similar to the new EU privacy law in that its focus is on positive consumer confirmation for each new use of personal information by companies

False

Classes can (and in our class, should) be grouped into Resources (R), Entities (E), and Assets (A) in data modeling

False

Data Flow Diagrams start with a circle indicating the start event

False

Data in a data warehouse is updated immediately when transactions are processed

False

Disaster recovery plans and business continuity management are preventive controls

False

EVA Momentum as a performance ratio requires the use of a derivative function

False

Each attribute in a table can have several names.

False

In Access, users can edit database information in reports

False

In Unified Modeling Language (UML) the options for minimum multiplicity values are 0, 1, and 2.

False

In a collaboration model using BPMN, the interaction between participants is called orchestration

False

In the "Filling Cavities" case, the computer containing the accounting records was hacked from outside the business.

False

In the reading on "Amplfied Intelligence," a contributor recommends that new professionals become conversant in many different practice areas, and wait to develop deep expertise in a single area until the market direction has become clear

False

Maintaining two sets of books for a company is illegal in all states

False

Many-to-many relationships in databases are implemented by posting a foreign key

False

One weakness of the internal rate of return financial metric is that larger projects tend to have higher internal rates of return

False

Production of a 1040 tax form from the AIS to be delivered to the Internal Revenue Service is an example of discretionary information.

False

Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 5 (AS 5) encourages auditors to start from the basic/bottom of financial records to identify the key controls

False

Queries in Access are utilized by most users to enter data into tables and view existing records

False

Since both are regulators, the SEC and the IRS will likely have similar XBRL style sheets for the various XBRL filings

False

The SQL "Group by" clause can be used to order results in descending order for a particular field

False

The Sarbanes-Oxley Act of 2002 (SOX) 2002 requires the management of all companies and their auditors to assess and report on the design and effectiveness of internal control over financial reporting annually

False

The basic purchase & payments process described in the text is complete when goods are received from vendors

False

The extract. transform, and load (ETL) process that takes raw data and scrubs extraneous data and noise to become useful is mostly automated

False

The goal of information security management is to enhance the confidence, integrity and authority (CIA) of a firm's management

False

The link between the Products and Production Plan tables in the following class diagram would be implemented as a linking table

False

The primary key of the Employees table in the following class diagram would be posted in the Production Steps table as a foreign key

False

The primary key of the Production Steps table in the following class diagram would be posted in the Production Plan table as a foreign key.

False

The process for most not-from-concentrate orange juice consists primarily of squeezing the juice from the orange, filtering it, then bottling it

False

The risk of a company's internal auditing processes failing to catch the misstated dollar amount of revenue on the company's income statement is classified as inherent risk

False

Once transactions are confirmed on the blockchain, they are tamper-proof and cannot be altered is an example of:

Immutability of blockchains

According to one of the discussants from the Anti-Fraud Collaboration, which of the following should be considered the 3rd level of defense against fraudulent financial reporting

Internal Auditors

A consensus algorithm where miners must stake a portion of their own cryptocurrency to ensure blocks are created honestly is known as

None of the above

Bitcoin would be an example of:

Public Blockchain

What type of learning occurs where the machine learning occurs by trial and error

Reinforcement learning

Blockchain was compared to which other transformative technology

TCP/IP

Precision ratio is __________

The ratio of correct positive predictions to the number of positive predictions

3D printing poses challenges for auditors

True

A business model is typically a graphical depiction of the essential business process information.

True

A labor plan class would establish standard overhead allocation rates

True

A strategy map depicts the cause and effect relationship between objectives across the balanced scorecard perspectives.

True

According to COSO Principle 11, it is important to understand a company's IT, applications, and technology in use by employees, as well as how the technology is managed throughout the company, in order to assess the effectiveness of existing controls

True

According to an assigned reading, a risk heat map is a good way to get an overview an organization's portfolio of risks

True

According to an assigned reading, the dark web is a subset of the deep web

True

According to an assigned reading, the largest book seller, subscription video service, and dominant music companies today are all software companies

True

According to one of the assigned readings, XBRL needs to be audited because it introduces a new area of risk

True

According to one of the assigned readings, one of the key causes for many of today's ethical problems is the rapidly changing context in which we have to apply our moral principles

True

According to the AICPA, two key aspects of professional independence are independence of mind and independence in appearance.

True

Accountants increasingly participate in designing internal controls and improving business and IT processes in a database environment.

True

An activity can depict a single action or some logical combination of actions depending on the required level of detail to achieve the objectives of the business process analysis.

True

An embedded audit module is a programmed audit module that is added to the system under review

True

As discussed in class, the integrated case, the cumulative semester project, requires you to write a report

True

Associations can indicate the roles that one Class takes in its business relationship with another Class

True

COBIT (Control Objectives for Information and related Technology) is a generally accepted framework for IT governance in the U.S.

True

CRM software often includes the use of database marketing tools to learn more about the customers and to develop strong firm-to-customer relationships.

True

Certificate Authority (CA) issues digital certificates to bond the subscriber with a public key and a private key

True

Cloud computing is an internet-based computing where shared resources, software, and information is provided to firms on demand

True

Conversion labor costs become part of cost of goods sold

True

Data Mining is a process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known

True

Data governance is the convergence of data quality, data management, data policies, business process management, and risk management surrounding the handling of data in a company

True

EU's new privacy law hampers companies' ability to reuse individuals' personal information by requiring them to obtain positive permission for each new type of use

True

Encryption is a preventive control that helps to ensure data confidentiality and privacy during transmission and for storage

True

Firewalls are security systems that are made up of routers, servers, and a variety of specialized software

True

For a database created from the following class model, a query using only the Purchase Orders and Cash Disbursements tables could report accounts payable by showing records where the foreign key was NULL (blank).

True

Function IT can be used without affecting more than one skilled worker

True

In Business Process Modeling Notation (BPMN), activities are named with a short verb phrase placed within the rectangle.

True

In Unified Modeling Language (UML) attributes are characteristics of instances of a Class.

True

In a computerized environment, internal controls can be categorized as general controls and application controls

True

In a continuous audit, audit-related activities are conducted on a continuous basis.

True

In activity diagrams, gateways can direct sequence flow to support looping

True

In making the business case for an IT investment, companies should assess the sensitivity of results to the assumptions used in the model.

True

Information overload is defined as the difficulty a person faces in understanding a problem and making a decision as a consequence of too much information

True

Internal control is a process consisting of ongoing tasks and activities. It is a means to an end, not an end in itself

True

Lanes identify participants, departments, in a process.

True

One-to-many relationships in databases are implemented by posting a foreign key

True

Parallel simulation uses an independent program to simulate a part of an existing application program, and is designed to test the validity and to verify the accuracy of an existing application program

True

SQL is based on relational algebra and allows a user to query and update the database

True

Segregation of duties is an example of a COSO control activity

True

The Cash Disbursements table created from the following class diagram would have exactly three foreign keys

True

The Purchase Status class in the following diagram is a Type Image class

True

The association between Purchase Orders and Products in the following class model would be implemented with a linking table

True

The asterisk (*) following the SELECT SQL statement is a wild card indicating all columns should be selected

True

The balanced scorecard framework describes performance from four different perspectives based on the firm's strategy to achieve shareholder value.

True

The following Purchase Orders table would contain two foreign keys to implement associations with Employees

True

The goal of information security management is to maintain confidentiality, integrity and availability of a firm's information

True

The linking table between Purchase Orders and Products in the following class model would likely indicate the quantity of each product ordered Products 1...* 0...* Purchase Orders

True

The main objective of the ISO 27000 series is to provide a model for establishing, implementing, operating, monitoring, maintaining, and improving information security

True

The primary key of the Production Authorization table in the following class diagram would be posted in the Production Steps table as a foreign key

True

The value proposition step in the analysis of an IT initiative should focus on five key questions, one of which is the timing of expected benefits.

True

Three types of data models used today are: the hierarchical model, the network model and the relational model.

True

Type images can be used to allow process information to be summarized by category

True

U.S. CPA firms are allowed to provide tax advice and perform the financial statement audit for the same client

True

Unified Modeling Language (UML) Class diagrams describe the logical structure of a database system.

True

When the firm's value proposition meets or exceeds customers' requirements, customer satisfaction results in customer retention and new customer acquisition, which drives sales growth

True

While hierarchical and network data models require relationships to be formed at the database creation, relational data models can be made up as needed.

True

Your date and place of birth would be considered personally identifying information that would fall under the Data Accountability and Trust Act of 2009

True

Which of the following statements is incorrect

artificial intelligence is a part of deep learning

According to an assigned reading, purchasing habits on this number of items can provide strong evidence of an impending life change.

25

Between October 2020 and March 2021, investors lost how much money to cryptocurrency scams

80 million