The correct sequence of events for entering a customer order is
a. edit order, record sales order, update inventory, notify warehouse
b. record sales order, edit order, update inventory, notify warehouse
c. notify warehouse, edit order, record sales order, update inventory
d. edit order, notify warehouse, record sales order, update inventory
Which of the following is not one of the key drivers of manufacturing competitiveness
in a global market defined by uncertainty, change and complexity according to the
Deloitte Touche survey?
a. facing the realities of globalization
b. talent-driven innovation
c. healthcare system
d. local market attractiveness
Which of the following statements is true?
a. Management has a legal responsibility to protect an organization€s informational
assets.
b. Proper protection of organizational information from unauthorized use required both
physical and logical controls.
c. The unauthorized disclosure of financial information is a violation of federal
securities laws.
d. All of the above.
The ____ manager may be more concerned with accuracy than with timeliness.
a. strategic
b. tactical
c. operations
d. All of the above.
Events that could have a negative impact on organizational objectives:
a. opportunities
b. embezzlement
c. fraud
d. risks
According to the text, this is a “book of original entry”
a. business event data store
b. data maintenance store
c. master data store
d. standing data store
The purchasing process¾receive goods and services¾normally would be triggered by
the data flow:
a. purchase order
b. vendor acknowledgement
c. vendor packing slip
d. purchase requisition
The AICPA’s Practice Alert No. 94-2: Auditing Inventories-Physical Observations
describes several circumstances that constitute inventory fraud. Which of the following
is not an example of inventory fraud?
a. including items in inventory when the corresponding payable has not been recorded
b. adjusting inventory to lower-of-cost-or-market
c. increasing counts for items that auditors did not test count
d. counting obsolete inventory as salable or usable
Software packages that can be used for the core systems necessary to support enterprise
systems.
a. Application Programming Interface (API) systems
b. Business Process Management (BPM) systems
c. Enterprise Resource Planning (ERP) systems
d. Event-driven architecture (EDA) systems
Organizations install enterprise systems
a. to differentiate themselves from competitors
b. to reduce costs of conducting business
c. to improve performance
d. all of the above
In the level 0 DFD for an AP/CD process, a data flow called “vendor invoice” most
likely would be sent by the vendor to which of the following processes?
a. establish payable
b. make payment
c. order inventory
d. none of the above
Business events include
a. creating a new employee record
b. receiving a payment from a customer
c. submitting a purchase order to a vendor
d. all of the above
In the level 0 DFD for an AP/CD, a data flow called “receiving report” most likely
would be sent by the purchasing process to which of the following processes?
a. order inventory
b. receive goods and services
c. establish payable
d. make payment
Assume that one of the process bubbles in the Purchasing Process –
a. purchase order
b. receiving report
c. stock notice
d. inventory notice
Management selects risk ________________________- avoiding, accepting, reducing
or sharing risk € developing a set of actions to align risks with the entity’s risk
tolerances and risk appetite.
On a systems flowchart a small circle represents a(n) ___________________
At Winsted Company the following procedures are used to enter purchase requisitions
(PRs).
Clerks in the purchasing department receive purchase requisitions (PRs) from
departments throughout Winsted’s home office. The PRs are handwritten on forms
specially designed for this purpose. The clerks enter these into preformatted screens on
PCs that are connected to the central computer. After each PR is recorded on the
purchase requisition event data store the computer informs the clerk that the PR has
been recorded. Once recorded the computer forwards the PRs to appropriate managers
who can approve the PRs online. Approving individuals enter their approvals (or
denials). PRs that are not approved are sent back to the purchasing clerks for corrective
action.
Below is the annotated systems flowchart and partially completed control matrix for
this process.
Required:
Complete the control matrix by entering the control plan numbers (P-1, P-2, etc.) in the
appropriate cells in the control matrix to indicate to which control goal(s) each control
plan is directed. Below the matrix describe how each control plan achieves each control
goal that you have indicated on the matrix.
TB Figure 15.5 displays a level 0 DFD – Cost Accounting: Variance Analysis. Match the
items in the following alphabetical list to the missing items (A – J) in the diagram.
COBIT 5 is more procedure-based than COBIT 4.1
The Controlling module of the SAP system handles internal accounting and profitability
analysis.
TB Figure 14.1 is a
Required:
Match each letter in the
Information systems reliability and electronic commerce have been identified by
the AICPA as potential assurance services.