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accounting information systems

Questions and Answers of Accounting Information Systems

What is a value stream map?
Refer to the equation for the EOQ in the text. Car Country, a local Ford dealer, sells 1,280 small SUVs each year. Keeping a car on the lot costs n Car Country $200 per month, so the company prefers
Which of the following statements regarding traditional accounting is true?a. Traditional accounting does not provide managers in a JIT setting with timely information.b. The financial orientation
Which statement describes the evolution of enterprise systems?a. MRP II evolved from MRP and MRP II evolved into ERP.b. MRP evolved directly from ERP.c. ERP evolved into MRP and MRP evolved into MRP
What is RSA encryption?
Evergreen Corp has recently hired a CIO with progressive ideas regarding relationship management. He did not like the silo effect cause by strict segregations resolve this perceived problem and to
Which of the following is not true about the SSAE16 report?a. It is a third-party attestation report.b. It replaced Statement on Auditing Standards No. 70 (SAS 70).c. When using the carve-out method,
The ABC Company is switching from its legacy centralized system to a fully distributed system. Under the new model, all employees will work from PCs connected to a local area network.Requireda.
Which of the following is the best example of an application control objective?a. Ensure the validity, completeness, and accuracy of sales transactions.b. Provide backup facilities in the event of a
In conducting a cost-benefit analysis, the estimated category that ordinarily would have the least uncertainty as to its precise value is,a. The intangible benefits.b. The intangible costs.c. The
What are the primary fact-gathering techniques?
Which of the following is NOT a one-time cost?a. Insuranceb. Data conversionc. Software acquisitiond. Site preparation
Prepare two alternative conceptual designs for both an accounts payable system and an accounts receivable system. Discuss the differences in concept between the different designs. From a cost
Based upon what you have read in this chapter, what might be some of the problems that would account for system failures?
User test and acceptance is part of which phase of the SDLC?a. General systems designb Program specification and implementation planningc. Detailed systems designd. Implementation
What is OSI?
What is Software-as-a-Service (SaaS)?
What is a LAN?
What is a VAN?
What is network virtualization?
What is a cookie?
Define IP spoofing.
The client-server model,a. Is most effective when used as a bus topology, because its deterministic access method avoids collisions and prevents data loss during transmissions.b. Is best suited to
In a financial fraud case, city employees in Brooklyn, New York, accessed digital databases to defraud the city of $20 million. Several employees, in collusion with the former deputy tax collector,
A system of computers that connects the internal users of an organization distributed over a wide geographic area is a(n),a. LAN.b. Internet.c. Decentralized network.d. Intranet.e. Multidrop network.
Virtualization technology is credited with unleashing cloud computing. Write an essay explaining virtualizationnand its impact on cloud computing.
A ping signal isa. Used to perpetrate URL masquerading.b. An Internet maintenance tool.c. Used for Internet protocol spoofing.d. An Internet protocol.e. ASYN-ACK
The purchase order for one firm is the source document for the sales order of another firm. Consider the following purchase order and sales order data elements stored for two firms. Discuss any
A message that is contrived to appear to be coming from a trusted or authorized source is calleda. A DDoS attack.b. Digital signature forging.d. URL masquerading.e. Internet protocol spoofing.
Visit 10 websites that sell products or services, andrecord the following for each:a. The URL.b. Did the site issue you a cookie?c. Did the site have a published privacy policy?d. Does the site
Which of the following statements is correct?a. A virtual private network (VPN) is a private network within a public network.b. Cloud computing allows client firms to acquire IT resources from
a. Develop a Caesar cipher-type encryption algorithm with a little more complexity in it. For example, the algorithm could alternatively shift the cleartext letters positive and negative by the
What is packet switching?
A DDoS attacka. Is more intensive than a Do S attack, because it emanates from a single source.b. Turns the target victim’s computers into zombies that are unable to access the Internet. c. is
What is an access control list?
What is the drill-down approach?
Who below is most likely to distribute paychecks?a. Paymasterb. Timekeeping clerkc. Personnel clerkd. Supervisor
In 2002, Thomas Turner opened the doors of Turner Patio Furniture (TPF) in Marysville, Pennsylvania. The company, which began with only 3 employees (Thomas and his two sons), has grown over a decade
Which of the following is not a payroll system internal control?a. Supervisors verify the accuracy of employee time cards.b. The personnel department submits a personnel action form to the payroll
Which one of the following functions is responsible for submitting employee pay rate changes?a. Payrollb. Treasurerc. Cash disbursementsd. Personnele. None of the above
Which control helps to ensure that the inventory items received are the correct type and the correct amount, and are in good condition?a. Reconciliation with the packing slipb. The way matchc.
What assets are at greatest risk in a POS system?
Why was EDI devised?
What is multilevel security?
Discuss the trade-off in choosing to update the general ledger accounts in real time versus batch.
Which document triggers the billing function?a. Shipping noticeb. Customer orderc. Bill of ladingd. Sales order
Which of the following is often called a compensating control?a. Supervisionb. Access controlc. Segregation of dutiesd. Accounting records
How can we prevent inventory from being reordered automatically each time the system detects a low inventory level?
Which of the following sets of tasks should not be separated?a. Processing customer sales orders and approving creditb. Receiving cash and updating the accounts receivable subsidiary ledgerc. Storing
What is the purpose of physical controls?
The bill of lading is prepared by the,a. Sales clerk.b. Warehouse clerk.c. Shipping clerk.d. Billing clerk.
Which control helps to ensure that the inventory items shipped to the customer are the correct type and the correct amount?a. Three way matchb. Reconciliation of Bill Lading and receiving reportc.
Which functions should be segregated?a. Authorizing credit and determining reorder quantitiesb. Picking goods from the warehouse shelves and updating the inventory subsidiary ledgerc. Billing
What is a validity check?
What are the six broad classes of physical control activities defined by COSO?
What is skimming?
Define cash larceny.
Explain the purpose of the Public Company Accounting Oversight Board.
Define check tampering.
What is conflict of interest?
Name the general categories of IT application control tests that auditors design.
Describe the audit objectives and procedures related to systems development and program change procedure to ensure application integrity.
Describe the audit objectives and procedures related to automated audit trails that monitor users and events.
Which of the following statements about the ITF technique for testing is NOT correct?a. Applications may be tested directly without being removed from service.b. ITF supports continuous monitoring of
Which of the following is NOT an SDLC control issue during an audit?a. User and computer services management properly authorized the project.b. A preliminary feasibility study showed that the project
Which of the following statements about the GAS techniques for substantive testing is NOT correct?a. GAS captures data during processing without removing the application from service.b. GAS languages
Why is reliance on the client IT staff to provide a copy of the production application a potential risk?
What is the importance of the SPL?
Which of the following is NOT a test for identifying application control errors?a. Access testsb. User acceptance testsc. Field testsd. Range testse. All of the above
Tracing is a technique thata. Reviews interest calculations to identify a salami fraud.b. Performs an electronic walk through of computed logic database.c. Allows test data to be merged with
Which of the following statements is NOT correct?a. EAMs capture transactions during processing without removing the application from service.b. EAMs support continuous monitoring of
What is the purpose of program testing in the SDLC?
Which of the following statements is NOT correct?a. Application logic changes may be made directly to the load module.b. As a practical matter, programs in their compiled state are secure and free
Which of the following is NOT an SDLC controllable activity?a. External audit participationb. User specificationc. Systems authorizationd. User test and acceptance procedurese. All are SDLC controls
Which of the following statements about test data techniques for testing application controls are not correct?a. Implementing the test is costly and labor intensive.b. Applications may be tested
What is event monitoring?
Last year ACME Manufacturing commissioned Fly- By-Night Consulting (FBNC) to oversee the implementation of a new information system. Based on FBNC recommendations to establish an “open”
List the four general control areas.
Explain vendor exploitation.
What is a reasonableness test?
The mailroom receives checks and remittance advices from customers in payment of their accounts receivable. The clerk reviews the documents for completeness and correctness, and manually prepares two
A few days later, a hard-copy vendor’s invoice arrives at the AP department. The AP clerk accesses the purchases system from her terminal and reviews the digital purchase order and receiving report
What is IT auditing?
Who initiates a fraud audit within the organization?
Name the tests that auditors perform to gather evidence.
What characteristic conceptually distinguishes internal and external auditing?
Name the two ways in which organizations acquire information systems.
What are the computer ethical issues regarding the environment?
An employee in the receiving department keyed in shipment from a remote terminal and inadvertently omitted the purchase order number. The best application control to detect this error would be a,a.
What name is given to computer programs that are used for checking the validity and accuracy of transaction data?a. Operating system programs.b. Edit programs.c. Compiler programs.d. Integrated test
What is employee fraud?
Name the three fraud-motivating forces.
Which of the following is not an example of preventive control?a. Separation of responsibilities for the recording, custodial, and authorization functionsb. Sound personnel practicesc. Documentation
How are transactions in real-time processing systems edited?a. In a separate computer runb. In online mode as transactions are enteredc. During a backup procedured. Not edited due to time
Which of the following is NOT an element of the fraud triangle?a. Ethicsb. Justifiable reliancec. Situational pressured. Opportunitye. All the above are elements
Which statement is NOT true?a. Manufacturing firms have a conversion cycle but retail firms do not.b. The conversion cycle includes the task of determining raw materials requirements.c. A payroll
Which of the following files is a temporary file?a. Reference fileb. Transaction filec. Master filed. None of the above
Why might an auditor use a program flow chart?
What is task-data dependency?
What is the database model?

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