AIS final exam
The GROUP BY operator in SQL: a. aggregate functions on the query results based on one or more columns b. identifies how to sort the query results c. states the criteria that a record must meet to be included in the query results d. indicates the name of the table from which to retrieve data
a. aggregate functions on the query results based on one or more columns
Which statement best describes a select query? a. A select query updates data in the database tables b. A select query extracts and organizes data in the tables to produce information. c. A select query adds records to a table. d. A select query changes the database design.
b. a select query extracts and organizes data in the tables to produce information
Which of the remaining four business processes most closely relates to the payroll portion of the Human Resource Process? a. Sales/collection b. Acquisition/payment c. Conversion d. Financing
b. acquisition/payment
What is the listing of account names and corresponding codes used by an accounting system? a. Module b. Chart of accounts c. Inactive account d. Master account
b. chart of accounts
A data warehouse may include: a. An XBRL style sheet b. Competitor information c. A digital dashboard d. An iPad
b. competitor information
An operational database: a. Includes the data of current and previous fiscal years b. Contains data that are volatile c. Contains data that are uploaded from a data warehouse d. Provides a rich, non-volatile data set for management to identify patterns and examine trends
b. contains data that are volatile
In the COSO Internal Control Framework, the "tone at the top" is most closely related to: a. Monitoring b. Control environment c. Control activities d. Information and communication
b. control environment
A quarterly internal control newsletter published by the CEO's office best relates to which elements of the COSO Internal Control Framework? a. Risk assessment, monitoring b. Control environment, information and communication c. Risk assessment, control environment d. Monitoring, information and communication
b. control environment, information and communication
Which of the following defines the technique of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that mamagers did not previously recognize? a. Data Marts b. Data Mining c. Data Warehousing d. All of the above
b. data mining
XBRL GL is different from XBRL-U.S. GAAP because it facilitates: a. Efficient communication between the firm and external regulators b. Efficient communication within a firm c. Efficient communication with customers and investors d. Efficient communication with external financial analysts
b. efficient communication within a firm
Which of the following charateristics of the analytics mindset is most easily automated? a. Ask the right questions b. Extract, Transform, and Load relevant data c. Apply appropriate analytic techniques d. Interpret and share the results with stakeholders
b. extract, transform, and load relevant data
Consider the trial balance of DMN Corporation in Table 2.1 of your text. Based on the trial balance only, which of the following income statement items is equal to $7,500? a. Revenue b. Gross Profit (or Gross Margin) c. Net income d. Net loss
b. gross profit (or gross margin)
Which of the following is not one of the five essential components in the COSO 2013 framework? a. Control environment b. Internal environment c. Control activities d. Monitoring e. Information and communication
b. internal environment
Cloud computing a. takes energy from the sun and the clouds b. is Internet-based computing, where shared resources, software, and data are provided to firms on demand c. requires an organization to invest extensively in hardware and software to meet its needs d. is not scalable
b. is internet-based computing, where shared resources, software, and data are provided to firms on demand
Charlie Harris is is new customer of a publishing company. The data entry clerk in the marketing department is attempting to set up Charlie's first Sales Order with the company. The credit department has not yet entered Charlie into the customer table as a valid customer. Can the data entry clerk create a sales order for Charlie? a. Yes b. No c. Maybe
b. no
Mary Muscrat is an established customer, who has been ordering books from a publishing company for months. She has several valid open sales orders. Can the data entry clerk delete Mary from the customer table? a. Yes b. No c. Maybe
b. no
Should YouDriveOut raise its credit score cutoff from 425-440? a. Yes b. No
b. no
In Exercise 18, the relationship between tblRegion and tblStatePop is: a. One-to-One b. One-to-Many c. Many-to-Many
b. one-to-many
Student Company would most likely initially record which of the following transactions directly in a special journal? a. Payment of a $5 million lawsuit settlement b. Payroll activity c. Disposal of long-term assets d. Issuance or retirement of bonds and stock
b. payroll activity
Tufte's design principles include: a. Continuity b. Precision c. Proximity d. Symmetry
b. precision
Which of the following is considered an application input control? a. Control total b. Reasonableness check c. Reporting distribution log d. Concurrent update controls
b. reasonableness check
Which of the following items can best be described as an Event in an REA model? a. Customer b. Sales Order c. Inventory d. None of the above
b. sales order
If you wish to create a chart that shows the relationship between two variables, you should use a: a. Column chart b. Scatter chart c. Bubble chart d. Line chart
b. scatter chart
Which of the following sales and collection process activities typically results in the creation of an Accounts Receivable? a. Receiving a sales order from a customer b. Shipping the products a customer ordered to the customer c. Billing a customer d. Recording a cash receipt from the customer e. None of the above
b. shipping the products a customer ordered to the customer
Terms like "master file" and "transaction file" are most commonly associated with which generic element of the accounting information system? a. Input b. Storage c. Output d. Internal controls
b. storage
With respect to XBRL, US GAAP and International Financial Reporting Standards are: a. Specifications b. Taxonomies c. Style sheets d. Instance documents
b. taxonomies
In a systems flowchart of a company's sales/collection process, which of the following is most likely depicted with a pre-defined process symbol? a. A customer browsing an online catalog b. The cashier preparing the bank deposit c. Emailing the customer d. None of the above
b. the cashier preparing the bank deposit
My Flowcharting Power Point slides posted to Blackboard depict the following: The A/P clerk uses the A/P Subsidiary Ledger to prepare the monthly A/P Aging Report. The A/P clerk sends the A/P Aging Report to the A/P Manger who reviews and then files the report. Based on your work with the Systems Understanding Aid, what other document (not depicted in the flowchart) might the A/P clerk use as input to creating the A/P Aging Report? a. the inventory subsidiary ledger b. the previous month's A/P aging report c. the cash receipts journal d. the Accounts Receivable subsidiary ledger e. B and C
b. the previous month's A/P aging report
Which symbol best represents a determination of whether an employee's wages are above or below the maximum limit for FICA taxes? a. The symbol for a generic activity b. The symbol for a decision c. The symbol for a manual activity d. The symbol for a predefined activity
b. the symbol for a decision
The flowchart of a client's accounting system is a diagrammatic representation that depicts: a. The way the system should be b. The way the system currently is c. The types of irregularities that are probable, given the current system d. The key controls of the business process represented
b. the way the system currently is
Which of the following is a characteristic of all adjusting entries? a. The accounting system records them in the journal, but does not post them to the ledger b. They always include one nominal account and one permanent account c. They always involve estimates d. They always include either the cash or the Retained Earnings accounts
b. they always include one nominal account and one permanent account
What did Manzoni include in his bookkeeping text, which he published in Venice in 1540? a. An acknowledged reprint of Pacioli's work b. Three hundred examples of transactions c. A series of questions and answers about double entry accounting d. An analysis of bookkeeping practices
b. three hundred examples of transactions
If Manuel was creating a data visualization for the CFO and CEO in Exercise 17, he would most likely use: a. an author-driven explanatory apporach b. an author-driven exploratory approach c. a reader-driven explanatory approach d. a reader-driven exploratory approach
a. an author-driven explanatory approach
Most large organizations use ___ to tag financial and non financial information in a firm's AIS. a. An enterprise resource planning system, such as SAP b. Document flowcharts c. Style sheets d. Both A and C
a. an enterprise resource planning system, such as SAP
In an REA model, the relationship between Customer and Sales Order is in a typical revenue cycle is: a. One to Many b. One to One c. Many to Many
a. one to many
One output of the accounting information system is the statement of cash flows. Transactions commonly associated with an organization's acquisition/payment process are most likely to be reflected in which section of the statement of cash flows? a. Operating b. Investing c. Financing d. All of the above
a. operating
Emphasis, Quantity, and Color are: a. Gestalt design principles b. Tufte's design principles c. Pre-attentive processing tools d. None of the above
c. Pre-attentive processing tools
Which of the following is the best example of a conflict of interest? a. RKH corporation established a list of preferred vendors b. RKH's internal auditors developed its conflict of interest policy c. RKH purchases 80% of its inventory from a firm where RKH's purchasing agent is a stockholder d. All of the above constitute conflicts of interest
c. RKH purchases 80% of its inventory from a firm where RKH's purchasing agent is a stockholder
Which of the following bodies mandated that firms operating in its jurisdiction submit their financial reports using XBRL? a. FASB b. PCAOB c. SEC d. NYSE
c. SEC
Which of the following commands begins a SQL query? a. BEGIN b. INPUT c. SELECT d. INSERT
c. SELECT
A remittance advice: a. Is unnecessary when a customer remits payment by check b. Is part of the bank deposit c. Is the source document supporting cash received from a customer d. is another term for a sales invoice
c. is the source document supporting cash received from a customer
In an REA model, the relationship between Sales Order and Inventory in a typical revenue cycle is: a. One to Many b. One to One c. Many to Many
c. many to many
The Treviso Arithmetic was an early printed book about mathematics. Who was the major market for this book? a. Priests b. Scholars c. Merchants d. Humanists
c. merchants
What is the common flow of data in the purchasing process? a. Sales order processing, shipping, invoicing, receiving cash b. Receiving inventory, storing inventory, shipping inventory c. Ordering goods, receiving goods, receiving invoice, and disbursing cash d. Ordering goods, shipping, and disbursing cash
c. ordering goods, receiving goods, receiving invoice, and disbursing cash
Gestalt design principles include: a. Clarity b. Precision c. Proximity d. Efficiency
c. proximity
Which three duties should an organization separate in its conversion process? a. Physical custody of inventory, authorization to release inventory into production, recordkeeping b. Direct material, direct labor and manufacturing overhead processing c. Assets, liabilities, and equity d. Job order, process, and hybrid cost accounting systems
a. physical custody of inventory, authorization to release inventory into production, recordkeeping
As a form of internal control within the acquisition/payment process, internal auditors are most likely to: a. Prevent or detect a problem b. Prevent or correct a problem c. Detect or correct a problem d. None of these; internal auditors are not a form of internal control within the acquisition/payment process
a. prevent or detect a problem
As a tool for preparing financial statements, XBRL is most closely associated with which one of the following parts of an accounting information system? a. Processing b. Inputs c. Outputs d. Storage e. Internal controls
a. processing
Internal controls that address the risk of purchasing goods from inappropriate suppliers include: a. Strategic alliances b. RFID technology c. Sequentially numbered purchase orders d. Purchase requisition justification
a. strategic alliances
Within the context of the financing process, segregation of duties means: a. The accounting department cannot issue dividend checks without the approval of the board of directors. b. An employee who prepares dividend checks cannot also prepare checks for repayment of long-term debt. c. Both a and b d. None of the above
a. the accounting department cannot issue dividend checks without the approval of the board of directors
In the context of the acquisition/payment process, the three-way match concept applies to which of the following sets of documents? a. Purchase requisition, vendor invoice, remittance advice b. Vendor invoice, receiving report, purchase requisition c. Receiving report, purchase order, vendor invoice d. Remittance advice, purchase order, receiving report
c. receiving report, purchase order, vendor invoice
The stated advantages of XBRL GL do not include: a. Reporting independence b. System independence c. Scalability d. Flexibility
c. scalability
Which of the following about sequence flows is not true? a. Sequence flows are continuous from the start event through activities and gateways, if any, to an end event in a pool or swim-lane. b. Sequence flows may not cross pool boundaries c. Sequence flows may not cross pool boundaries d. All of the above statements are true
c. sequence flows may not cross pool boundaries
Flowcharting as a first step in internal control evaluation provides what advantage over the use of narrative descriptions? a. Ease of preparation b. Comprehensive coverage of controls c. Cost effectiveness d. Ease in following information flow
d. ease in following information flow
According to the ITGC lecture notes, which of the following is not a weakness sometimes found in Systems Development? a. Inadequate stress testing b. Failure to customize initial factory settings when installing purchased software c. Failure to include internal audit in an advisory role d. Failure to perform a source/compare analysis
d. failure to perform a source/compare analysis
An organization uses all of the following documents to promote strong internal control in the conversion process except: a. Materials requisition. b. Labor time ticket. c. Materials move ticket. d. Form W-2.
d. form W-2
Which of the following is not true about an Excel pivot table? a. Users can select report row variables b. Users can select report column variables. c. Users can select to include grand totals. d. Users can format the values in the pivot table. e. All of the above statements are true about Excel pivot tables.
e. all of the above statements are true about Excel pivot tables
Which of the following best describes the key features of a spreadsheet (vs. a database)? a. Allows for very complex mathematical and statistical computations b. Provides for controlled entry and maintenance of data c. Allows for complicated what-if type analysis d. Allows logically related data from multiple files to be easily linked e. Both a and c
e. both a and c
The resource JEWELRY is an entity in a database of a company that sells custom-designed (one-of-a-kind) pieces of jewelry. Color, style, and price are: a. rows within the table called JEWELRY b. attributes c. columns within the table called JEWELRY d. instances e. both b and c f. both c and d
e. both b and c
Which of the following attributes of the YouDriveOut data represent ratios? a. DownPayment b. ProportionDown c. PaymentsForCurrent d. LoanCurrency e. Both b and d
e. both b and d
Which of the following statements best describes business anlaysts? a. Business analysts enable analytics b. Business analysts produce complicated types of analytics c. Business analysts produce relatively simple types of analytics d. Business analysts are generalists in terms of analytics e. c and d
e. c and d
Which of the following business functions is data analytics transforming? a. Audit and compliance b. Tax c. Marketing and customer service d. Operations e. Data analytics is transforming all of these business functions
e. data analytics is transforming all of these business functions
Which of the following industries is data analytics transforming? a. Utilities b. Insurance c. Health care d. Professional services e. Data analytics is transforming all of these industries.
e. data analytics is transforming all of these industries
In Exercise 15, you created qryCriteria. Why did the query results include the magazines, Business Principles and Bars and Stools? a. Both magazines are in the Business category b. Both magazines start with the letter B c. Both magazines have a rate per year of more than $15.00 d. All of the above e. Only a and b
e. only a and b
Which of the following is the best example of an Internal Control in the Accounting Information System? a. Bank reconciliation b. Balance sheet c. Steps in the accounting cycle d. Sales order
a. Bank reconciliation
An application has a stable data structure, low update frequency, and its primary use is analysis. The application is best suited for: a. A spreadsheet b. A database c. Either d. Not enough information given
a. a spreadsheet
Of the five IT general controls areas, which control area did the CPA partners rank as the most important if the ITGC review was to support an internal, operational audit? a. IT management b. Systems development c. Change management d. Data security e. Business continuity planning
a. IT management
According to the book Double Entry, what group invented writing? a. Accountants b. Storytellers c. Lawyers d. Priests
a. accountants
A group of computers, printers, and other devices connected to the same network and covering a limited geographic range is called a: a. LAN b. WAN c. VAN d. VPN
a. LAN
Which of the following is not essential to the definition of an accounting information system? a. Software b. Documents c. Decision makers d. Financial data
a. Software
field check is: a. A preventive control b. A detective control c. A corrective control d. An output control
a. a preventive control
Which of the following best describes an an inner join? a. An inner join link records in various tables by checking whether the foreign key values in one table equal the primary key values in another table. b. An inner join allows users to find which foreign key values do not match existing primary key values. c. An inner join allows users to find foreign key values set to null. d. All of the above
a. an inner join link records in various tables by checking whether the foreign key values in one table equal the primary key values in another table
All of the following are basic purposes of internal controls except: a. Eliminating fraud b. Ensuring reliable financial statements c. Promoting operating efficiency d. Compliance with laws and regulations
a. eliminating fraud
Which of the fundamental data analytic tools did you use in analyzing the YouDriveOut data? a. Excel b. Access c. Tableau d. All of the above
a. excel
How do you read a systems flowchart? a. From top to bottom and from left to right b. From bottom to top and from left to right c. From top to bottom and from right to left d. From bottom to top and from right to left
a. from top to bottom and from left to right
A data warehouse may include: a. General economic information b. A digital dashboard c. A smart phone d. All of the above
a. general economic information
The sum of the vendor numbers in a batch of invoices is an example of a: a. Hash total b. Record count c. Batch total d. Quantity total
a. hash total
In a well-designed sales/collection process, a company should evaluate a customer's credit-worthiness a. Immediately after taking the customer's order b. Immediately before billing the customer c. When the customers A/R aging report indicates the customer's balance is 60 days overdue d. None of the above
a. immediately after taking the customer's order
In Exercise 15, you built qrySubscribersWithSubscriptions. How woudl the query results change if you built this same query using a left outer join instead of an inner join? a. The inner join returns results only for those subscribers that have subscriptions, but the left outer join returns results for all subscribers, whether or not the subscribers have subscriptions b. The inner join returns results only for those subscribers that have subscriptions, but the left outer join returns results only for those subscribers that do not have any subscriptions. c. The left outer join returns results only for those subscribers that have subscriptions, but the inner join returns results for all subscribers, whether or not the subscribers have subscriptions. d. The left outer join returns results only for those subscribers that have subscriptions, but the inner join returns results only for those subscribers that do not have any subscriptions.
a. the inner join returns results only for those subscribers that have subscriptions, but the left outer join returns results for all subscribers, whether or not the subscribers have subscriptions
Which of the following describes the best physical control(s) over cash disbursements? a. Using pre-numbered checks for all disbursements to vendors b. Disbursing cash to vendors upon approval of the purchasing manager c. Limiting access to inventory to authorized personnel d. All of the above are good physical controls over cash disbursements
a. using pre-numbered checks for all disbursements to vendors
Susie Que is an established customer, and has been ordering books from a publishing company for months. She has several valid open sales orders. Can the data entry clerk delete an entry in the SOBook bridge table on one of Susie s open, valid sales orders? a. Yes b. No c. Maybe
a. yes
Tom Taylor is an established customer, who has been ordering books from a publishing company for months. He has several valid open sales orders. The data entry clerk has just opened a new Sales Order for Tom. Tom has not yet ordered any books on this Sales Order. Can the clerk delete this Sales Order from the Sales Order table? a. Yes b. No c. Maybe
a. yes
Which of the following items can best be described as a Resource in an REA model? a. Vendor b. Purchase Order c. Inventory d. None of the above
c. inventory
What is a foreign key in a database system? a. A foreign key is a non-key data element that depends on another non-key data element. b. A foreign key is a data element that uniquely identifies a record. c. A foreign key is the primary key of a table that is placed in another table so a user can join the two tables d. a and b, but not c
b. a foreign key is a data element that uniquely identifies a record
Which of the following best defines internal control? a. Internal rules and/or regulations regarding accounting standards and preparation of financial data with which organizations comply b. A process by which management gains reasonable assurance that it will achieve its objectives c. Procedures for internal analysis of an organization's short-term and long-term objectives
b. A process by which management gains reasonable assurance that it will achieve its objectives
All of the following are facts about an Accounting Information System (AIS) except: a. An AIS should provide some form of internal control b. An AIS always incorporates information technology c. An AIS usually provides generic purpose financial statements as an output d. An AIS can involve three types of storage files
b. An AIS always incorporates information technology
According to Double Entry, which city replaced Venice as the center of international trade in Europe? a. Nuremburg b. Antwerp c. London d. Paris
b. Antwerp
DRH Corporation's conversion process is highly automated. DRH uses computers and other forms of information technology to prepare raw materials for production and to move partially completed units through the factory. Which of the following statements is true about DRH? a. DRH is not exposed to human error risk. b. DRH should use regular equipment inspections as a form of internal control. c. Both a and b d. None of the above statements is true.
b. DRH should use regular equipment inspections as a form of internal control
An example of an explanatory visualization is a. Anscombe's quartet b. Dr. John Snow's cholera visualization c. Both are examples of exporatory visualization d. Neither is an example of exploratory visualization
b. Dr. John Snow's cholera visualization
As defined in the COSO Internal Control Framework, which of the following best explains the relationship between "monitoring" and "information and communication"? a. Monitoring must be performed by an individual, while information and communication must be performed by a group b. Information and communication must be performed by an individual, while monitoring must be performed by a group c. Monitoring involves ongoing changes to an internal control plan; information and communication focuses on providing relevant information to various stakeholders d. Information and communication involves ongoing changes to an internal control plan; monitoring focuses on providing relevant information to various stakeholders
b. Information and communication must be performed by an individual, while monitoring must be performed by a group
Which statement about enterprise systems is correct? a. Most enterprise systems support primarily accounting and finance functions. b. SAP, Oracle, and Microsoft all offer products for enterprise systems. c. Most enterprise systems support organizations in the service industry. d. Smaller companies do not use enterprise systems at all.
b. SAP, Oracle, and Microsoft all offer products for enterprise systems
Which of the following best reflects a decision in Sophie Dog's sales/collection process? a. A customer's decision to order a particular product b. Sophie decision to check the inventory she has on hand c. Sophie's decision to reconcile her personal bank account d. The customers decision to remit cash to Sophie
b. Sophie's decision to check the inventory she has on hand
Which of the following statements is false about the bills of exchange that merchants used in Venice in the 1400s? a. The bills of exchange allowed the transfer of funds between merchants in different cities b. The bills of exchange allowed the transfer of funds within a local market c. The bills of exchange eliminated the need to physically ship gold to pay merchants d. Merchants who honored bills of exchange from other merchants also charged a commission
b. The bills of exchange allowed the transfer of funds within a local market
A collection of information gathered from an assortment of external and operational (i.e., internal) databases to facilitate reporting for decision making and business analysis is called: a. Business intelligence b. A Data Warehouse c. A Digital Dashboard d. An XBRL instance document
b. a data warehouse
The purpose of general controls is to provide a foundation for relying on the overall information-processing environment. What is the purpose of application controls? a. To provide incremental reliance on all information processing activities b. To provide incremental reliance on information produced by a specific application c. To provide incremental reliance on the assignment and supervision of personnel d. To provide incremental reliance on accounting systems that use databases
b. to provide incremental reliance on information produced by a specific application
In describing the attributes of big data, which V did EY include (that your texbook authors did not)? a. Volume b. Veracity c. Velocity d. Variety
b. veracity
Who is the "father" of double entry bookkeeping? a. Leonardo Da Vinci b. Piero Della Francesca c. Luca Pacioli d. Simon Kuznets
c. Luca Pacioli
If a scribe charged 100 dollars to reproduce one book in Venice during the late 1400s, what would a printer using a printing press charge for one book? Assume one dollar = 100 cents. a. $300 b. $1.00 c. $0.30 d. $0.10
c. $0.30
What was the balance in Student Company's payroll cash account per the bank (First Bank) on December 31, 2017? a. $5,563.28 b. $227,921.18 c. $941.98 d. $123,829.35
c. $941.98
What is the next number in the Fibonacci sequence (0, 1, 1, 2, 3, 5, 8, 13, 21)? a. 8 b. 13 c. 34 d. None of the above
c. 34
In Exercise 15, you built qrySubscribersWithSubscriptions using inner joins between the SUB_ID in tblSubscribers and the SUB_ID in tblSubscriptions and between MAG_ID in tblMagazines and MAG_ID in tblSubscriptions. The query returns 18 records. How many records would the query return if you kept all three tables in the query design but deleted the join line between tblSubscribers and tblSubscriptions and the join line between tblMagazines and tblSubscriptions? a. 288 b. 450 c. 7,200 d. 400 e. 18
c. 7,200
Viewers see patterns differently depending on the screen. In Exercises 16 and 18, you showed your charts in "landscape" format. Viewers would most likely use what type of pattern if viewing your charts on a screen? a. An F pattern b. An X pattern c. A Z pattern d. An L pattern
c. A Z pattern
An organization should segregate which of the following organizational functions for effective internal control? a. Authorizations of transactions, processing, reviewing b. Processing, recordkeeping and modification of related records, reviewing c. Authorizations of transactions, recordkeeping and modification of related records, custody of related assets d. Recordkeeping and modification of related records, processing, custody of related assets
c. Authorizations of transactions, recordkeeping and modification of related records, custody of related assets
Which of the following internal controls could an organization implement in its processing of payroll transactions? a. Outsourcing b. Use of information technology c. Both a and b d. None of the above
c. Both A and B
According to the ITGC lecture notes, to whom should the Chief Information Officer report? a. Vice president, internal audit b. CFO c. CEO d. Information security officer
c. CEO
Which of the following passwords would be most difficult to "crack"? a. Opensesame b. Jennyjenny c. Go2Ca!ifornia4fun d. Password5
c. Go2Ca!ifornia4fun
According to Double Entry, which author began the antagonism between business and the arts? a. Werner b. Wilhelm c. Goethe d. Defoe
c. Goethe
What initiates the purchasing process? a. An organization receives goods from a vendor b. An organization places an order with a vendor c. A department manager authorizes a purchase requisition and forwards it to the purchasing department d. A purchasing manager approves a purchase order
c. a department manager authorizes a purchase requisition and forwards it to the purchasing department
According to the book Double Entry, which of the following statements about bills of exchange is true? a. The catholic church outlawed the use of bills of exchange in Europe b. The bill of exchange is a form of usury (charging interest on loans) c. Bills of exchange gambled on exchange-rate variations d. All of the above
c. bills of exchange gambled on exchange-rate variations
Which of the following best pairs a financing process risk with an internal control that will address that risk? a. Poorly trained employees in the finance department; required annual training b. Inability to make required payments on long-term debt; a properly developed cash budget c. Both a and b d. None of the above
c. both a and b
The primary purpose of the acquisition/payment process is to: a. Obtain the resources the organization needs b. Pay for the resources the organization needs c. Both obtain and pay for the resources the organization needs d. Neither obtain nor pay for the resources the organization needs
c. both obtain and pay for the resources the organization needs
The fundamental purpose of the sales/collection process is to: a. Provide goods and services to clients and customers b. Collect payment from clients and customers c. Both provide goods and services to clients and customers and collect payment from them d. Neither provide goods and services to clients and customers nor collect payment from them
c. both provide goods and services to clients and customers and collect payment from them
Bacchus, Inc. is a large multinational corporation with various business units around the world. After a fire destroyed the corporation headquarters and the largest information processing site, plans for which of the following would best help Bacchus ensure a timely recovery? a. Daily backup b. Network security c. Business continuity planning d. backup power
c. business continuity planning
A CEO's Digital Dashboard tracks in a user-friendly way: a. Airplane speed b. Division-level customer relationships c. Critical business processes d. Division-level building projects
c. critical business processes
Which of the following describes the science of examining raw data, removing excess noise from the data set, and organizing the data with the purpose of supporting business decisions? a. Big Data b. ETL c. Data analytics d. Audit Analytics
c. data analytics
Business analysts, especially accountants, typically work with data from which source? a. The Web b. Operating systems c. Enterprise Resource Planning (ERP) systems d. Big Data e. Business analysts, especially accountants, most often work with data from all of these sources.
c. enterprise resource planning (ERP) systems
Relationships in the REA model are based on: a. Agents b. Resources c. Expectations d. Events
c. expectations
The acronym ETL in the process of readying data for use in data analytics refers to what three words? a. Extrapolate, transform, and learn b. Extrapolate, transpose, and load c. Extract, transform, and load d. Extract, transpose, and learn
c. extract, transform, and load
Companies often rely on third-party vendors to avoid the risk of: a. Filling orders incorrectly b. Selling products that are not in stock c. Granting credit to customers that are not credit worthy d. Billing the customer incorrectly
c. granting credit to customers that are not credit worthy
Which of the following is not an advantage of a database (vs. a spreadsheet)? a. Greater ability to share data more easily across the organization b. Greater ability to maintain consistent data across the organization c. Greater chance of data redundancy d. Greater ability to control data input
c. greater chance of data redundancy
A table's primary key field: a. is always stored in one column of a table b. guarantees referential integrity c. guarantees that each row is unique d. can sometimes be empty or null e. b and c
c. guarantees that each row is unique
Recommended password policies do not include which of the following? a. Imposing history restrictions on password usage b. Including special keys, numbers, and a combination of upper and lowercase letters c. Having special users change their passwords every 90 days d. All of the above are recommended password policies
c. having special users changer their passwords every 90 days
BRN Corporation has two divisions: California and Nevada. Both divisions use the same chart of accounts. Current assets use numbers in the 100s; plant assets use numbers in the 200s; etc. When the divisions transfer data to the corporate system, BNN adds the letter C to account numbers that the California division submits and the letter N to the account numbers that the Nevada division submits. From the point of view of BNN, which of the following coding systems best describes its chart of accounts? a. Sequential b. Block c. Hierarchical d. Mnemonic
c. hierarchical
Which of the following best pairs a generic element of the AIS with a specific example of that element: a. Input, balance sheet b. Internal control, balance sheet c. Internal control, general ledger software d. Input, general ledger software
c. internal control, general ledger software
49. My Flowcharting Power Point slides posted to Blackboard depict the following: The A/P clerk uses the A/P Subsidiary Ledger to prepare the monthly A/P Aging Report. The A/P clerk sends the A/P Aging Report to the A/P Manger who reviews and then files the report. Who/what is the entity responsible for creating the A/P Aging Report? a. the accounts payable manager b. the accounts payable subsidiary ledger c. the accounts payable clerk d. A and C e. A, B, and C
c. the accounts payable clerk
According to the book Double Entry, Leonardo Da Vinci may have personally conferred with Pacioli about which one of Da Vinci's masterpieces? a. The Mona Lisa b. The Lady with an Ermine c. The Last Supper d. The Virgin of the Rocks
c. the last supper
Which symbol best represents employees' payroll records stored in a computer database? a. The symbol for a paper file b. The symbol for Input/output c. The symbol for a database d. The symbol for a visual display
c. the symbol for a database
Ford may use business intelligence: a. To track the cost of the parts it uses on its vehicles b. As input to its tax reporting system c. To find indicators of quality issues that pinpoint machinery failures in its assembly plants d. To schedule warranty service reminders for its customers
c. to find indicators of quality issues that pinpoint machinery failures in its assembly plants
What is the mechanism that firms may use to track their critical performance metrics? a. XBRL b. Business intelligence c. Data analytics d. Digital dashboards
d. digital dashboards
What was the balance in Student Company's operating cash account per the bank (First Bank) on December 31, 2017? a. $5,563.28 b. $123,829.35 c. $941.98 d. $227,921.18
d. $227,921.18
Which of the following statements is true about flowcharting? a. Each input, typically, a paper or electronic document, has an origin b. Filing is not an activity c. Filing is an activity d. A and B e. A and C
d. A and B
According to Senator Robert F. Kennedy's March 1968 speech, which of the following does the Gross National Product include in its measurement? a. The health of children b. The beauty of poetry c. Wisdom and learning d. Air pollution
d. Air pollution
Which of the following statements about message flows is true? a. Message flows are modeled with solid arrows b. Message flows represent exchanges between pools c. Message flows may cross pool boundaries d. B and C e. All of the above statements are true
d. B and C
The first person to propose using XML as a means to electronically deliver financial information was: a. Professor Vendrzyk b. Steve Jobs c. Herb Hackett d. Charles Hoffman
d. Charles Hoffman
Sorting by which of the following attributes within the YouDriveOut data provided the most insight into whether YouDriveOut should raise its credit score cutoff from 425 to 440? a. CreditScore b. LoanCurrency c. Category d. CreditScoreLevel
d. CreditScoreLevel
According to the book Double Entry, which four Italian city-states does the author specifically mention in connection with the growth of double-entry bookkeeping? a. Florence, Pisa, Rome, Venice b. Florence, Genoa, Rome, Venice c. Florence, Genoa, Pisa, Rome d. Florence, Genoa, Pisa, Venice
d. Florence, Genoa, Pisa, Venice
Which of the following items can best be described as an Agent in an REA model? a. Purchase b. Sales Order c. Inventory d. None of the above
d. None of the above
Which of the following statements is true about Pacioli's Summa? a. The Summa includes a chapter devoted to bookkeeping b. The Summa is written in Latin c. Pacioli used the symbols + and - for plus and minus d. Pacioli copyrighted the Summa
d. Pacioli copyrighted the Summa
Which of the following is not true about Daniel Defoe's book, Robinson Crusoe? a. Robinson Crusoe used double entry bookkeeping to evaluate his life b. Robinson Crusoe used debits to reflect evil c. Robinson Crusoe used credits to reflect good d. Robinson Crusoe chose to become an actor instead of a bookkeeper
d. Robinson Crusoe chose to become an actor instead of a bookkeeper
Based on COSO 2013, which of the following statements is not correct? a. Employees at any level in an organization play a role in internal control b. Internal controls can provide reasonable assurance only c. Internal control is a process that consists of ongoing tasks and activities d. The responsibility of monitoring the effectiveness of internal controls belongs to the internal audit group
d. The responsibility of monitoring the effectiveness of internal controls belongs to the internal audit group
Which of the following statements most closely relates to a publisher filling a sales order that Allison's Bookstore sent to the publisher? a. Felix, a cash receipts clerk, applies Allison's cash remittance to the invoice indicated on her remittance advice b. In buying the books, Allison completed a form on the publisher's website c. The publisher's website verified Allison's credit limit d. William, a warehouse worker, prepared Allison's books for shipment
d. William, a warehouse worker, prepared Allison's books for shipment
Which of the following statements about firewalls is not correct? a. A firewall is a security system comprised of hardware and software including routers and servers b. A firewall allows individuals on the corporate network to send and receive data packets from the internet c. A firewall can filter through packets coming from outside networks to prevent unauthorized access d. A firewall connects different LANs
d. a firewall connects different LANs
Which statement is incorrect about a virtual private network (VPN)? a. A VPN uses the public telecommunication infrastructure to provide secure access to an organization's network b. A VPN enables employees to work remotely by securely accessing their firm's network over the internet c. A VPN uses encrypted packets with authentication software d. A major disadvantage of a VPN is its expensive cost
d. a major disadvantage of a VPN is its expensive cost
According to the book Double Entry, why is double-entry bookkeeping so important? a. Double entry bookkeeping enable capitalism to flourish b. Double entry bookkeeping is still in daily use around the world c. Double entry bookkeeping made the wealth and cultural growth of the renaissance possible d. All of the above
d. all of the above
Human judgment involved when using an AIS system includes: a. Determining if and when to record a transaction b. Estimating amounts c. Interpreting accounting rules d. All of the above
d. all of the above
In Exercise 15, you built qryCreateJoin by drawing a join line between ADV_STATE in tblAdvertisers and SUB_STATE in tblSubscribers. Why did the query return 31 results? a. Each table included a field storing information about states. b. ADV_STATE and SUB_STATE were the same data type c. ADV_STATE and SUB_STATE were the same field length d. All of the above e. Only b and c
d. all of the above
To develop and sustain a strong control environment, managers should: a. Be committed to integrity and ethical behavior b. Demonstrate a commitment to competence in performing their duties and responsibilities c. Maintain a consistent, appropriate management philosophy d. All of the above
d. all of the above
To find a particular data element or value in a database, you need: a. A particular table b. A particular field c. A particular record d. All of the above e. Only a and c
d. all of the above
Which of the following internal controls could an organization implement to reduce the risk of employee fraud? a. Thorough background checks b. Forced vacations c. Adequate training and supervision d. All of the above
d. all of the above
Why do the most effective visualizations incorporate a storytelling approach? a. Storytelling makes a visualization relatable b. Storytelling makes a visualization memorable c. Storytelling makes a visualization lead to action d. All of the above
d. all of the above
Which of the following is TRUE regarding the segregation of duties in the purchasing process? a. The authority to approve disbursement vouchers should be separate from the authority to sign checks b. Ways to segregate computerized functions include passwords and designated terminal access c. The password system allows a receiving clerk to read (not create or change) a purchase order d. All of the above are true regarding the segregation of duties in the purchasing process
d. all of the above are true regarding the segregation of duties in the purchasing process
Which of the following statements describes the purpose of an operating system (OS)? a. To ensure the integrity of a system b. To control the flow of multiprogramming and task scheduling in the computer c. To allocate computer resources to users and applications d. All of the above describe the purposes of an OS
d. all of the above describe the purposes of an OS
An example of technology that utilizes integrated modules to support an organization is: a. The accounting cycle b. XBRL c. A spreadsheet d. An enterprise resource planning system
d. an enterprise resource planning system
Data mining is considered a technique of: a. Data Warehousing b. Project Management c. Data Marts d. Business Intelligence
d. business intelligence
An algorithm appends a computer generated number to a customer's number. The information system then determines whether the customer number/check digit combination input during data entry satisfies the algorithm. This control is an example of a: a. Field check b. Parity check c. Batch total d. Check digit verification
d. check digit verification
Each of the following has a responsibility for promoting strong internal controls in organizations except: a. Independent auditors b. Internal auditors c. Executive management d. Customers
d. customers
According to the ITGC lecture notes, physical and logical access relate best to which of the five IT general controls (ITGCs)? a. IT management b. Systems development c. Change management d. Data security e. Business continuity planning
d. data security
Of the five IT general controls areas, which control area did the CPA partners rank as the most important if the ITGC review was to support the external financial audit? a. IT Management b. Systems development c. Change management d. Data security e. Business continuity planning
d. data security
Your McGraw-Hill textbook includes access controls as an IT general control (ITGC). This control is most similar to which ITGC described in my lecture notes? a. IT management b. Systems development c. Change management d. Data security e. Business continuity planning
d. data security
In the JR's Healthy Pets exercise (Exercise 14), you designed a small database for a company that provides veterinary services. If you wanted to include information about a pet's appointment in a query, which data item would only be found in tblAppointment? a. Quantity of a service the pet received b. Name of the pet receiving the service c. Price of the service d. Date of the appointment e. All of the above
d. date of the appointment
Which of the following best pairs a financing process risk with an internal control that will address that risk? a. Sending a dividend check to the wrong shareholder; a human resources database b. Falling stock prices due to profit restatements; independent audits c. Failure to receive IPO approval from the SEC; segregation of duties d. Inability to pay dividends because of a cash shortage; corporate line of credit
d. inability to pay dividends because of a cash shortage; corporate line of credit
Which of the following is not an example of business process documentation? a. Business process models b. Training manuals c. Organization charts d. Internal audit
d. internal audit
According to the book Double Entry, who introduced Arabic numerals to Italy? a. Leonardo Da Vinci b. Piero Della Francesca c. Luca Pacioli d. Leonardo de Pisa
d. leonardo de pisa
If you wish to create a chart that compares non-cyclical data over many time periods, you should use a: a. Column chart b. Scatter chart c. Bubble chart d. Line chart
d. line chart
Which of the following coding systems best describes "ACCT-307"? a. Sequential b. Block c. Hierarchical d. Mnemonic
d. mnemonic
Consider the trial balance of DMN Corporation in Table 2.1 of your text. Based on the trial balance only, DMN s income statement would report: a. Net income of $7,500 b. Net loss of $7,500 c. Net income of $1,300 d. Net loss of $1,300
d. net loss of $1,300
In a systems flowchart, columns denote: a. Areas of responsibility b. People's names c. Actions performed within each area of responsibility d. Only A and C e. A, B, and C
d. only A and C
Which of the following represents the flow of data within a wholesaler's revenue cycle? a. Receiving cash, shipping, sales order processing, billing b. Billing, shipping, sales order processing, receiving cash c. Shipping, billing, receiving cash, sales order processing d. Sales order processing, shipping, billing, receiving cash
d. sales order processing, shipping, billing, receiving cash
Which of the following is not a benefit of using wireless technology? a. Mobility b. Rapid deployment c. Flexibility and scalability d. Security
d. security
Sally, a sales representative for WER Corporation, ensures that she does a thorough credit check for customers who want to purchase goods on account. Sally's responsibility suggests that the most important internal control WER should implement is: a. Adequate documentation b. Employee training c. A risk management plan d. Segregation of duties
d. segregation of duties
Which of the following items does an Accounting Information System (AIS) not need to process the issuance of long-term debt? a. Coupon interest rate b. Market interest rate c. Lender identification information d. Shareholder approval
d. shareholder approval
TRN Corporation produces a product that is highly perishable. Which of the following internal controls is the best alternative for controlling the risk of product spoilage? a. Segregation of duties b. Adequate documentation c. Employee training d. Specialized storage and shipping containers
d. specialized storage and shipping containers
In Exercise 15, you created a Totals query using the qryExpressionExample, which provided a count of the number of subscriptions and the total amount of subscriptions dollars due for each category of magazine. What would happen to the query results if you included Magazine Name as a data field in the query design and included Group By in its Total row? a. The query results would not change. b. The query results would not include the magazine name. c. The query results would include a count of the magazines in each Business category. d. The query would no longer group the magazines by category name. e. The query would provide no results.
d. the query would no longer group the magazines by category name
The WHERE clause in a SQL select query states the criteria that must be met: a. to run a query b. to include a record as an attribute in the corresponding table c. to include a record in the database d. to include a record in the query results
d. to include a record of query results
The three V's of Big Data are: a. volume, velocity, and variability b. volume, veracity, and variety c. volume, volatility, and variability d. volume, velocity, and variety
d. volume, velocity, and variety
In a systems flowchart, a terminator symbol can indicate: a. Start of activities in a business process b. End of activities in a business process c. A destination outside of the business process d. Only B and C e. A, B, and C
e. A, B, and C
According to Double Entry, why was Venetian double entry accounting so attractive? a. Double entry accounting was methodical and orderly b. Double entry accounting improved the minds of youth c. Double entry accounting improved decision making d. Double entry included detailed instructions for creating a trial balance e. All of the above
e. All of the above
Which of the following identifies participants in BPMN? a. Message flows b. Swim-lanes c. Pools d. Gateways e. B and C f. A and D
e. B and C
Which of the following statements about Business Process Modeling Notation (BPMN) is not true? a. Arrows represent sequence flows b. The Object Management Group maintains the BPMN specification c. Circle symbols represent events d. Annotations allow the modeler to add descriptive text e. All of the above statements about BPMN are true
e. all of the above statements about BPMN are true
Which of the following statements about an operating system (OS) is incorrect ? a. The OS must protect itself from users b. The OS must users from each other c. The OS must protect users from themselves d. The OS must be protected from itself e. The OS must be protected from the environment f. None of the above statements about an OS is incorrect
f. none of the above statements about an OS is incorrect
