final review questions

Who is responsible for updating the general ledger for nonroutine transactions? a. controller b. treasurer c. CFO d. senior accountant

b. treasurer

Resources mechanics (many to many) -----> (none, many) service autos parts (many, one) -----> (none, many) service autos Events customer order (one, one) ----> (none, one) service autos receive customer payment (one, none) -----> (one, one) service autos Agents service autors -----> (one, one) service manager in the space below create the logical model table for service autos - be sure to use proper format

tbl Service Auto: SA#, [CO#], [ServiceMgr#], Date

Low quality data and models may be unethically relied upon to discriminate against disadvantaged groups true or false

true

Using data analytics in conjuction with intuition, expertise, ethics, and other sources of knowledge that are not easy to quantify typically leads to better results than using data analytics alone. true or false

true

Visualization supports the dominant learning style of the population because most learners are visual learners. true or false

true

With the help of industry-specific XBRL taxonomy, we can better interpret disclosed information because we are getting the content with the context. true or false

true

in tableau, using filters and colors are some of the primary ways to focus on specific results true or false

true

without the control procedures, the likelihood of a threat is 30% and the impact is $20 million. with the control provedures, the likelihood is reduced to 10%. the cost of implementing the control procedures is $1 million. what is the net benefit of using these procedures?

$3 million

Without the control procedures, the likelihood of a threat is 30% and the impact is $40 million. With the control procedures, the likelihood and impact are reduced to 15% and $10, respectively. The cost of implementing the control procedures is $3 million. What is the net benefit of using these procedures?

$7.5 million

which record in the following partial order table violates entity integrity? indivate which order # violated the rule listed partial order table order # customer # date 2000 101 1-jun 2001 105 1-jun 2002 1-jun 2004 104 1-jun 2005 106 1-jun 2005 102 1-jun 2006 100 1-jun partial customer table customer # name 100 shasta 101 claudia 102 cindy 103 mike 104 jay 106 sunny 107 linda

2005

how many foreign keys should be in the logical model table for the receive goods event as showed in the REA model below? inventory (many, one) ---> (none, many) receive goods purchase order (one, one) ---> (none, one) recevie goods receive goods (many, none) ----> (one, one) purchase clerk receive goods (many, none) ----> (one, one) vendor

3

What is the minimum number of tables that is needed to implement an REA data model that has eight distinct entities, two M:N relationships and five 1:N relationships in a relational database? a. 10 b. 8 c. 15 d. 13

a. 10

which two controls should work the best for the threat of "unauthorized disclosure of sensitive information"? a. access controls and excryption b. data processing integrity controls and backup c. access controls and well designed managerial reports d. review of all changes to master data and encryption

a. access controls and excryption

adjusting entries made at the end of accounting period to reflect events that ahve occurred byt for which cash has not yet been received or disbursed is called a. accruals b. deferrals c. estimates d. revaluations

a. accruals

Internal control oversight is primarily the responsibility of which governance body? a. board of directors b. directors of controls c. ethics department d. CEO

a. board of directors

Which of the following functions is related to handling cash? a. custodial b. recording c. authorization d. none of the other three choices

a. custodial

what do we use in tableau to display multiple worksheets at once, and -if we like- make them interact with one another? a. dashboards b. views c. cards d. shelves

a. dashboards

Which of the following adjusting entries are made at end of accounting period to reflect exchange of cash prior to performance of related event (e.g., prepaid rent) a. deferrals b. accruals c. estimates d. revaluations

a. deferrals

A controller examined how long it took to close the accounting books for the last 5 years. The controller likely computed what type of analytic? a. descriptive b. diagnostic c. predictive d. prescriptive

a. descriptive

petty cash is dispursed by jane doe in the cashiers office. jane also maintains records of disbursements, places requires to the finance department to replace expended funds, and periodically reconciles the petty cash balance. this represents a(n) _______ segreation of duties a. ineffective b. effective c. ideal d. limited

a. ineffective

in tableau, what is the default graphical representation when you create a view that includes time along with a measure (e.g. sales)? a. line chart b. bar chart c. scatterplot d. heat map

a. line chart

Every citizen in the United States has one social security number, and no two citizens have the same social security number. Thus, the cardinality that exists between social security numbers and citizens is a. one ot one b. one to many c. many to many d. many to none

a. one ot one

When entering a large credit sale, the clerk typed in the customer's account number as 45982 instead of 45892. That account number did not exist. The mistake was not caught until later in the week when the weekly billing process was run. Consequently, the customer was not billed for another week, delaying receipt of payment. The problem was violation of which database principle? a. referential integrity b. entity integrity c. one fact one place d. none of the above

a. referential integrity

Which of the following is most likely a foreign key in the Purchase Order table? a. vendor # b. customer # c. order date d. qty sold

a. vendor #

Which category of data analytics deals with the question "Why did this happen?"? a. descriptive analytics b. diagnotic analytics c. predictive analytics d. prescriptive analytics

b. diagnotic analytics

If we store all our data in a single giant table (let's call this Sales), there is no way to store information about prospective customers until they make a purchase. What is the name of this issue? a. update anomaly b. insert anomaly c. delete anomaly d. entity integrity

b. insert anomaly

choose the set of cardinalities for the relationship between the inventroy reseource and the sale event that best descrives a convenience store like 7-11 a. inventory (one, none) ---> (one,one) sale b. inventory (many, one) ---> (none, many) sale c. inventory (many, none) ---> (one, one) sale d. inventory (one, one) ---> (none, many) sale

b. inventory (many, one) ---> (none, many) sale

Internal controls we implement help the most with reducing which of the fraud triangle elements? a. pressure b. opportunity c. rationalization d. all three elements equally

b. opportunity

segregation of duties is an example of which type of control function? a. detective b. preventitive c. corrective d. authorization

b. preventitive

if duties are properly segreated, the authorization function is performed by ______, the recording function is performed by _________, and cash handling is performed by the _________ a. accounts payable; puchasing; cashier b. purchasing; accounts payable; cashier c. purchasing; cashier; accounts payable d. purchasing; accounts payable; treasurer

b. purchasing; accounts payable; cashier

Suppose a relational database contained two linked tables. Which of the following items is not necessarily present in the database? a. two primary keys b. two foreign keys c. at least one column d. one foreign key

b. two foreign keys

Which of the following is not one of the objectives of Information Security Program? a. integrity b. availability c. achievability d. confidentiality

c. achievability

how do users retreive data stored in a database? a. by viewing the appropriate data tables b. by performing a search c. by executing a query d. by specifying the primary key

c. by executing a query

Blockchains typically have copies of all blocks distributed on multiple machines. The distribution of the ledger helps ensure which of the following? a. distribution ensures that date entered into a blockchain is correct b. distribution speeds up the process of adding blacks to a blockchain c. distribution provides a means to identify any attempts to unilaterally alter the original documents d. all of the above are benefits of distribution

c. distribution provides a means to identify any attempts to unilaterally alter the original documents

the potential dollar loss should a particular threat become a reality is referred to as a. likelihood b. actual threat c. exposure/impact d. business risk

c. exposure/impact

which of the following is the correct expression for defining "extended price" in access? a. extended price (sales price)*(qty sold) b. extended price: (sales price)*(qty sold) c. extended price: [sales price]*[qty sold] e. extended price= [sales price]*[qty sold]

c. extended price: [sales price]*[qty sold]

when the actual sales price of a given item from inventory can vary thorughout the year, in which table is the standard sales price stored as an attribute? a. sales b. purchase c. inventory d. inventory/sales linking table

c. inventory

in a typical tableau visualization, which of the following is most likely to be added to the rows shelf? a. category b. sub category c. revenue d. date

c. revenue

One of the basic activities in the expenditure cycle is the receiving and storage of goods, supplies, and services. What is the counterpart of this activity in the revenue cycle? a. cash collection activity b. sales order entry process c. shipping function d. cash payments activity

c. shipping function

Which of the following in XBRL defines the various elements and the relationships between them? a. instance document b. data type c. taxonomy d. XBRL dictionary

c. taxonomy

which of the following is a report that provides a multidimensional perspective of organizational performance, and a much more comprehensive overview of organizational performance than that provided by financial measures alone? a. flexible budget b. flexible scorecard c. balanced approach d. balanced scorecard

d. balanced scorecard

internal controsl perform three main functions. Two of these functions are: Preventative controls and detective controls. select the correct answer from the choices below that represent the thrid main funciton of internal controls a. selective controls b. boundary countrols c. mandatroy controls d. corrective controls e. none of the above

d. corrective controls

choose the set of cardinalities that ost likely describe the relationship between customer and receive payment in modeling a typical company a. customer (many, one) ---> (none, many) receive payment b. customer (one, one) ---> (one, one) receive payment c. customer (one, none) ---> (one, many) receive payment d. customer (one, one) ---> (none, many) receive payment e. customer (many, one) ---> (none, one) receive payment

d. customer (one, one) ---> (none, many) receive payment

If it takes an attacker four minutes to break through our preventive controls whereas the time we need to detect an attack is two minutes, what is the amount of time we have to respond to the attack and take corrective action if our security is effective? Please read the question and answer choices carefully. a. four minutes b. three minutes c. two minutes d. less than two minutes

d. less than two minutes

In our strudy of fraud and internal controls, we examined the fraud triangle. What were the three elements of this fraud triangle? a. dissatisfaction, need, reasoning b. pressure, rationalization, need c. opportunity, collustion, need d. opportunity, pressure, rationalization e. none of the above

d. opportunity, pressure, rationalization

a senior accountant created an algorithm that recommends zip codes for mailing counpons for a particular product. the accountant likely computed what typs of analytic? a. descriptive b. diagnostic c. predictive d. prescriptive

d. prescriptive

Generative AI tools (e.g. ChatGPT) are currently not used by accountants, but some use is expected in the near future. true or false

false

In a criminal fraud case preponderance of the evidence (clear and convincing) is sufficient whereas in a civil case, the burden of proof must be beyond a reasonable doubt. true or false

false

In data analytics, correlation (which tells if two things happen at the same time) is typically sufficient to interpret one of those things causing the other. true or false

false

Intent is typically not relevant in fraud cases. true or false

false

It is expected that accounting profession will shrink rapidly in the next decade due to automation. true or false

false

for the following query: "reports only the customers that have purchased something from our store", we should use an outer join, not an inner join true or false

false

in the revenue cycle, a typical intenotry- sale linking table should include customer # true or false

false