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