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accounting information systems
Questions and Answers of
Accounting Information Systems
Which of the following inventory control methods is most likely to be used for a product like lumber (1 x 2s, 2 x 4s, etc.)a. JITc. MRPb. EOQd. ABC
Which of the following matches is performed in evaluated receipt settlement (ERS)?a. the vendor invoice with the receiving reportb. the purchase order with the receiving reportc. the vendor invoice
Which of the following is true?a. ERS systems use disbursement vouchers.b. Setting up petty cash as an imprest fund violates segregation of duties.c. The EOQ formula is used to identify the reorder
Which document is used to establish a contract for the purchase of goods or services from a supplier?a. vendor invoicec. purchase orderb. purchase requisitiond. disbursement voucher
Which method would provide the greatest efficiency improvements for the pur¬ chase of noninventory items such as miscellaneous office supplies?a. bar-codingc. procurement cardsb. EDId. EFT
How can innovative uses of IT to perform expenditure cycle activities also be used to improve the efficiency and effectiveness of suppliers’ revenue cycle activities? Why might a company wish to
Are there any limits to how little inventory a company should carry? Is it possible to entirely eliminate all inventories?
Which of the following measures the potential amount of data that might be lost due to a system disaster?a. checkpointc. RTOb. restorationd. RPO
Which data entry application control would detect and prevent entry of alpha¬ betic characters as the price of an item in the inventory master file?a. field checkc. completeness checkb. limit
Which of the following statements is true?a. Encrypting data is sufficient to protect confidentiality and privacy.b. Cookies are text files that only store information and cannot do anything.c. A hot
Which of the following is designed to identify entry of a nonexistent customer account number?a. sequence checkc. completeness checkb. field checkd. validity check
A batch total that is calculated by summing the part numbers sold in a batch of 50 sales invoices is called aa. financial totalc. record countb. hash totald. part count
Which of the following is an example of an output control?a. size checkc. cross-footing balance checkb. encryptiond. forms design
Which infrastructure replacement option involves purchasing or leasing a phys¬ ical site, prewiring it for telephone and Internet access, and contracting with one or more vendors to have computers
Which backup method is the fastest?a. full daily backupc. differential daily backupb. incremental daily backupd. complete daily backup
A copy of the state of a database at a specific point in time during the middle of a normal business day is called a(n)a. archivec. checkpointb. cookied. restoration
Which of the following statements is true?a. Concurrent update controls are designed to facilitate restoration of backups.b. Use of a VPN protects the confidentiality of information while it is being
What are the advantages and disadvantages to the opt-in versus the opt-out approaches to collecting personal information from the viewpoint of the customer? From the viewpoint of the organization
Theoretically, a control procedure should only be implemented if the benefits it provides exceed its costs. How can you estimate the costs and benefits of the following controls:a. segregation of
Discuss the relative advantages and disadvantages of doing daily partial backups versus daily full backups versus real-time mirroring. How does each option affect RPO and RTO?
Segregation of duties is essential to good internal control. Increasingly, computer systems automatically authorize and record transactions, such as generating pur¬ chase orders whenever the
What privacy concerns might arise from the use of biometric authentication techniques? What about the embedding of RFID tags in products such as clothing?
Enter the data in Table 8-4 into a spreadsheet and perform the following tasks:Requireda. Calculate an example of these batch totals:• a hash total • a financial total • a record countb. For
The Moose Wings Cooperative Flight Club owns a number of airplanes and gliders. It serves fewer than 2,000 members, who are numbered sequentially from the founder, Tom Eagle (0001), to the newest
The first column in Table 8-5 lists transaction amounts that have been summed to obtain a batch total. Assume that all data in the first column are correct. Columns a through d contain batch totals
Taibert Corporation hired an independent computer programmer to develop a simplified payroll application for its newly purchased computer. The programmer developed an online data entry system that
Use the following data to calculate the effects of different backup approaches. Which approach would you recommend? Why? Consider the time required to backup, the amount of media that must be
Visit the Information Systems Audit and Control Association’s (ISACA) Web site (www.isaca.org) to review the COBIT framework (version 4.1). Complete the following matrix to show how the 34
MonsterMed Inc. (MMI) is an online pharmaceutical firm. MMI has a small systems staff that designs and writes MMFs customized software. Until recently, MMI’s transaction data were transmitted to a
Which of the following is a characteristic of auditing?a. Auditing is a systematic, step-by-step process.b. Auditing involves the collection and review of evidence.c. Auditing involves the use of
Which of the following is not a reason an internal auditor should participate in internal control reviews during the design of new systems?a. It is more economical to design controls during the
Which type of audit involves a review of general and application controls, with a focus on determining if there is compliance with policies and adequate safe¬ guarding of assets?a. information
You are auditing the financial statements of Aardvark Wholesalers, Inc. (AW), a wholesaler with operations in 12 western states and total revenues of about $125 mil¬ lion. You are carrying out an
Robinson’s Plastic Pipe Corporation uses a computerized inventory data processing system. The basic input record to this system has the format shown in Table 9-8. You are performing an audit of
You are an internal auditor for the Military Industrial Company. You are presently preparing test transactions for the company’s weekly payroll processing pro¬ gram. Each input record to this
The program computes federal withholding tax for each employee by multiplying gross pay times a tax rate determined from Table 9-9. The program next computes state withholding tax for each employee
The Thermo-Bond Manufacturing Company maintains its fixed-asset records on its computer. The fixed-asset master file includes the following data items:Required Refer to Table 9-7, which describes the
An auditor is conducting an examination of the financial statements of a wholesale cosmetics distributor with an inventory consisting of thousands of individual items. The distributor keeps its
COSO identified five interrelated components of internal controls. Which of the following is not one of those five?a. risk assessmentb. internal control policiesc. monitoringd. information and
Some people believe that, instead of producing tangible benefits, business controls create resentment and loss of company morale. Discuss this position.
Which of the following statements is true?a. The concept of defense-in-depth reflects the fact that security involves the use of a few, sophisticated technical controls.b. Information security is
Firewalls are an example ofa. preventive controlsc. corrective controlsb. detective controlsd. reactive controls
The control procedure designed to verify a user’s identity is calleda. authorizationc. compatibility testb. authenticationd. intrusion detection
Which of the following techniques involves the creation and use of a pair of public and private keys?a. hashingc. symmetric encryptionb. asymmetric encryptiond. key escrow
Which of the following is a preventive control?a. penetration testingc. trainingb. patch managementd. log analysis
The approach to perimeter defense that involves examining only information in the packet header of each individual IP packet is referred to asa. deep packet inspectionc. stateful packet filteringb.
In order to create a digital signaturea. the sender encrypts a hash using the recipient’s public keyb. the sender encrypts a hash using the sender’s private keyc. the sender encrypts a hash using
Which of the following is an authorization control?a. fingerprint readerc. encryptionb. compatibility testd. log analysis
Modifying default configurations to improve security is calleda. encryption hardeningb. patching dialingc. hardeningd. war dialing
Explain how each of the following security procedures can increase system reliability:1 Encryption 2 Employee security awareness training 3 Eirewalls 4 IDS 5 VPNs
How much knowledge about information security do internal and external audi¬ tors need to be effective?
Is it possible to provide absolute security for an organization’s information sys¬ tem? Why or why not?
In what ways can the quest for information security be compared to striving for total quality?
What are the advantages and disadvantages of biometric security devices, such as fingerprint readers, in comparison with other security measures such as passwords and locked doors?
Which preventive, detective, and/or corrective controls would best mitigate the following threats?a. An employee’s laptop was stolen at the airport. The laptop contained personally identifying
EXCEL Problem Objective: learn how to protect spreadsheets.Required:a. Read the article “Keeping Secrets: How to protect your computer from snoops and spies,” by Theo Callahan in the July 2007
You are the chief information security officer for a small company. You are asked to design appropriate controls for the payroll and inventory management sys¬ tems. Following is a list of users and
Install and run the Microsoft Security Baseline Analyzer on your home computer or laptop. Write a report explaining any weaknesses identified and how to best correct them. Attach a copy of the
Visit the Web sites listed here and write a report describing the information provided on each site about information security that would be most useful to an auditor:• The SANS Institute
Visit the Center for Internet Security Web site (www.cisecurity.org) and down¬ load the appropriate scoring tool for your computer. Run the tool to assess how well your computer conforms to the
a. Apply the following data to evaluate the time-based model of security for the XYZ Company. Does the XYZ Company satisfy the requirements of the time-based model of security? Why?• Estimated time
Create a table about the password policies enforced at the following:a. Your school’s networkb. Your school’s email systemc. Your personal email account (at Yahoo, Gmail, etc.)d. Your financial
Physical security is extremely important. List and describe the physical secu¬ rity controls that should be used to protect the data center of a financial institution. Read the article “19 Ways to
Which of the following is a fraud in which later payments on account are used to pay off earlier payments that were stolen?a. lappingb. kitingc. Ponzi schemed. salami technique
Which of the following is/are methods of reducing fraud losses once fraud has occurred? (There may be more than one right answer.)a. insuranceb. regular backup of data and programsc. contingency
A few days after the inventory control system for Revlon, the cosmetics giant, went down, officials discovered that Logisticon, a software developer, caused the downtime. Seven months earlier, Revlon
Improved computer security measures create their own set of problems: user antagonism, sluggish response time, and hampered performance. Many professionals believe that the most effective way to
An experienced senior auditor was assigned to investigate a possible fraudulent situation characterized by extremely high, unexplained merchandise shortages at one location of the company’s
A small but growing firm has recently hired you to investigate a potential fraud. The company heard through its hot line that the purchases journal clerk periodically enters fictitious acquisitions.
Most experts maintain that the computer frauds that are publicly revealed represent only the tip of the iceberg. Although the major threat to computer security is perceived by many to be external,
Fraudulent financial reporting usually occurs as the result of environmental, institutional, or individual pressures and opportune situations. These pressures and opportu¬ nities, present to some
The impact of employee and management fraud is staggering both in terms of dollar costs and the effect on the victims. For each of the following independent cases of employee fraud, describe the
Rent-A-Wreck’s policy requires a “sealed bid” to sell motor vehicles that are no longer efficient. In reviewing the sale of some vehicles that had been declared obso¬ lete, the auditor found
The auditor of a bank is called to a meeting with a senior operations manager because of a customer’s report that an auto loan payment was not credited. According to the customer, the payment was
It was a typical Wednesday on the UCLA campus when everything began going wrong in the student computer lab. The computer lab was filled to capacity as the end of the semester neared. Nearly 70
The following e-mail with an authentic looking e-mail address and logo was received by the controller of a small business:Requireda. What should Justin do about these e-mails?b. What should Big Bank
The Jamison Cardstock Company did not spend a lot of time or money insti¬ tuting proper internal controls over its cash transactions. The following information reflects Jamison’s cash position as
An accountant employed by the organizing committee for the Atlanta Summer Olympic Games was charged with embezzling approximately \($60,000.\) The money allegedly was used to purchase a used
On a Sunday afternoon in 2005 at a busy hospital in the Pacific Northwest, computers started running slower and documents would not print. By Monday morning, the situation became worse as more
The text explained how database technology may eliminate the need for double entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned; (2) the double-entry
The following data elements comprise the conceptual-level schema for a database:billing address cost credit limit customer name customer number date description invoice number item number price
Most DBMS packages contain a data definition language, a data manipulation language, and a data query language. For each of the following examples, indicate which language would be used and why.a. A
Ashton wants to store the following data about S&S’s purchases of inventory:item number date of purchase vendor number vendor address vendor name purchase price quantity purchased employee number
Retrieve the S&S In-Chapter Database (in Microsoft Access format) from the text’s Web site (or create the set of relational tables in Table 4-5 in any relational DBMS product to which you have
Implement the set of relational tables shown in Table 4-15 in a relational DBMS package to which you have access. Write queries to answer the following questions. Note: For some of these questions
The Busy B Company wants to store data about its employees’ skills. Each employee may possess one or more specific skills. In addition, several employees may have the same skill. The following
You want to extend the schema depicted in Table 4-16 (see next page) to include information about payments from customers. Customers can make installment pay¬ ments oh each invoice. They may also
Using only the data in Table 4-17, create a set of relational tables that solve the update, insert, and delete anomalies. Table 4-17 Invoice table Invoice # Date Order Date Customer ID Customer Name
Using only the data in Table 4-18, create a set of relational tables that solve the update, insert, and delete anomalies. Table 4-18 Purchase Order (PO) Table Purchase Purchase Order Unit Quantity
How a user conceptually organizes and understands data is referred to as thea. physical viewc. data model viewb. logical viewd. data organization view
Which of the following is an individual user’s view of the database?a. conceptual-level schemac. internal-level schemab. external-level schemad. logical-level schema
Which of the following attributes in the Cash Receipts table (representing payments received from customers) would most likely be a foreign key?a. cash receipt numberc. customer numberb. customer
The Happy Valley Utility Company uses turnaround documents in its computerized customer accounting system. Meter readers are provided with preprinted com¬ puter forms, each containing the account
The Dewey Construction Company processes its payroll transactions to update both its payroll master file and its work-in-process master file in the same computer run. Both the payroll master file and
Prepare a document flowchart to reflect how ANGIC Insurance Company processes its casualty claims. The process begins when the claims department receives a notice of loss from a claimant. Claims
Beccan Company is a discount tire dealer operating 25 retail stores in the metropolitan area. Beccan sells both private-brand and name-brand tires. The company operates a centralized purchasing and
Since opening its doors in Hawaii two years ago, Oriental Trading has enjoyed tremendous success. As a wholesaler, Oriental Trading purchases textiles from Asian markets and resells them to local
Ashton Fleming has worked furiously for the past month trying to document the major business information flows at S&S. Upon completing his personal interviews with cash receipts clerks, Ashton asks
A partially completed flowchart appears in Figure 3-13. The flowchart depicts the credit sales activities of the Bottom Manufacturing Corporation.A customer’s purchase order is received, and a
Match the flowchart, context diagram, or data flow diagram segments in the right column to an appropriate description in the left column. 1. Statements are prepared and sent to customers from data
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