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A clerk at a grocery store scanned the bar code for a low cost bag of frozen chicken
wings then gave his friend an expensive brand-name bag of frozen chicken wings.
Which of the following controls would best prevent the clerk from getting away with
doing this?
A) Physical inventory count.
B) Segregation of duties.
C) Limited physical access to bar codes.
D) Use of RFID tags.
The problem of losing desired information from a database when an unwanted record is
purged from the database is referred to as the ________ anomaly.
A) purge
B) erase
C) delete
D) integrity
To minimize the number of checks that need to be written to pay vendor invoices, a
company should use
A) a voucher system.
B) a just-in-time inventory system.
C) a nonvoucher system.
D) an evaluated receipt settlement system.
The ________ step of the systems development life cycle (SDLC) identifies and
evaluates design alternatives and develops design specifications.
A) conceptual design
B) implementation and conversion
C) physical design
D) systems analysis
The system objective concerned that system should process data accurately and
completely is known as
A) flexibility.
B) reliability.
C) timeliness.
D) usefulness.
Use the chart below to answer the following questions regarding flow chart symbols.
Which symbol would be used in a flowchart to represent an invoice sent to a customer?
A) #2
B) #6
C) #1
D) #3
Which of the following would not be found in a data dictionary entry for a data item?
A) records containing a specific data item
B) physical location of the data
C) source of the data item
D) field type
SAS No. 99 requires that auditors
A) plan audits based on an analysis of fraud risk.
B) detect all material fraud.
C) alert the Securities and Exchange Commission of any fraud detected.
D) take all of the above actions.
In general, a data destination will be shown by
A) an arrow pointing away.
B) an arrow pointing in.
C) arrows pointing both ways.
D) no arrows, only two horizontal lines.
Cancellation and storage of documents is one example of a(n)
A) output control.
B) processing control.
C) input control.
D) data entry control.
Pretexting is best described as a social engineering technique that uses
A) text messages to gain sensitive information.
B) an invented scenario to gain sensitive information.
C) threat of physical force to gain sensitive information.
D) impersonation of somebody you know to gain sensitive information.
Identify a useful tool for monitoring accounts receivable.
A) ERP exception report
B) accounts receivable aging report
C) accounts receivable tolerance report
D) customer credit limit report
Identify the form of user resistance that occurs when the new system is blamed for any
unpleasant occurrence.
A) Passive-aggression.
B) Persistent.
C) Protest.
D) Projection.
A delivery of inventory from a vendor, with whom a credit line is already established,
would be initially recorded in which type of accounting record and as part of what
transaction cycle?
A) purchases journal; expenditure cycle
B) general journal; expenditure cycle
C) general ledger; expenditure cycle
D) cash disbursements journal; production cycle
Which type of software provides an additional layer of protection to sensitive
information that is stored in digital format, offering the capability not only to limit
access to specific files or documents but also to specify the actions that individuals who
are granted access to that resource can perform?
A) Anti-virus software.
B) Data loss prevention software.
C) A digital watermark.
D) Information rights software.
Which of the following is false with regards to REA models?
A) Many financial statement accounts are represented as resources in the REA model.
B) Accounts such as Accounts Receivable show up as entities in the REA model.
C) Some accounts represent an imbalance between two related events in the REA
model.
D) Much of the information about an organization's assets that is traditionally recorded
in ledgers is stored in resource tables in an REA-based relational database.
Refer to the table below, which shows the results of payback, net present value, and
internal rate of return analysis of four projects. Which is preferred by the payback
criterion?
A) Project A
B) Project B
C) Project C
D) Project D
The primary purpose of the Foreign Corrupt Practices Act of 1977 was
A) to require corporations to maintain a good system of internal control.
B) to prevent the bribery of foreign officials by American companies.
C) to require the reporting of any material fraud by a business.
D) All of the above are required by the act.
A major financial institution hired a renowned security firm to attempt to compromise
its computer network. A few days later, the security firm reported that it had
successfully entered the financial institution's computer system without being detected.
The security firm presented an analysis of the vulnerabilities that had been found to the
financial institution. This is an example of a
A) preventive control.
B) detective control.
C) corrective control.
D) security control.
Duplicate checking of calculations and preparing bank reconciliations and monthly trial
balances are examples of what type of control?
A) Preventive control
B) Detective control
C) Corrective control
D) Authorization control
In the time-based model of information security, D represents
A) the time it takes to respond to and stop the attack.
B) the time it takes for the organization to detect that an attack is in progress.
C) the time it takes an attacker to break through the various controls that protect the
organization's information assets.
D) the time it takes to assess threats and select risk response.
Evaluated receipt settlement increases efficiency by
A) eliminating the need for receiving reports.
B) eliminating the need for vendor invoices.
C) eliminating the need for purchase orders.
D) eliminating the need to prepare and mail checks.
In which phase of the SDLC does developing a general framework for implementing
user requirements occur?
A) Conceptual systems design.
B) Implementation and conversion.
C) Operations and maintenance.
D) Physical design.
When a customer pays off the balance on an invoice, the payment is credited to the
________ file.
A) customer master
B) sales transaction
C) cash receipts master
D) All of the above are correct.
Which of the following controls can minimize the threat of errors in processing payroll?
A) Redepositing unclaimed paychecks and investigating cause.
B) Issuing earnings statements to employees.
C) Using biometric authentication.
D) Conducting criminal background investigation checks of all applicants for finance
related positions.
Which of the following is not a key method of monitoring performance?
A) Performing internal control evaluation.
B) Implementing a benefit incentive plan.
C) Implementing effective supervision.
D) Implementing a whistleblower hotline.
A ________ determines whether the input data are of the proper type.
A) limit check
B) size check
C) range check
D) field check
Which symbol would be used in a flowchart to represent a purchase order?
A) #2
B) #1
C) #5
D) #15
The ________ contains information about the structure of the database.
A) data definition language
B) data dictionary
C) data warehouse
D) database management system
Which entity is most likely to be part of both the revenue cycle and the expenditure
cycle?
A) Receive Goods.
B) Customer.
C) Receive Cash.
D) Inventory.
