Archives: Quiz
Chapter 01 1 Cash From Financing net Change Cash cash Beginning cash Ending cash beginning balance transactions
Cash Prepaid Expense Property, Plant and Equipment Deferred Revenue Notes Payable Beginnin g Balance 1 100,000 100,000 2(12,000) 12,000 Note: Allow 2 and 12 together 3(4,500) 4,500 4(50,000) 50,000 5(1,000) (1,000) Advertising Expense Note: Accept if paid or not (wording […]
Chapter 01 1 Does this mean the BCF financial statement reflect no errors
Contribution Income, FY2010: 10,004,245 50.31% 19,884,491 Y/Y Change: =(10004245/8611418)-1 = 16.2% Net Investment Income, FY2010: 8,737,877 43.94% 19,884,491 Y/Y Change: =(8737877/-15844736)-1 = 155.1% (note: need to make positive) Directions: Answer the following questions using the Baruch College Fund’s Audited Financial […]
Chapter 01 1 functional expenses, and cash flows for the years then ended
Accounting Chapter 14 2 Why does a database designer need to understand a business’s rules
Copyright © 2014 Pearson Education, Inc. 36) How are business entities and their relationships identified? A) Determining the business rules for business transactions B) Determining the entity identifiers C) Normalizing the database D) Analyzing business transactions Answer: D Diff: 2 […]
Accounting Chapter 14 1 What are the three realms of a database and what happens in each realm
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 14 Database Design: ERD, REA, and SQL Objective 1 1) The largest provider of relational database tools is Sun Microsystems Inc. Answer: FALSE Diff: 1 Objective: Q14.1 What […]
Accounting Chapter 13 2 What are the basic steps in the prototype methodology
Copyright © 2014 Pearson Education, Inc. 24) What are the basic steps in the prototype methodology? Answer: Step 1: Meet with your customer and identify some of the user requirements. Step 2: Create a design based on the known user […]
Accounting Chapter 13 1 Project management uses techniques to organize and streamline the project
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 13 Accounting System Development Objective 1 1) Luckily, project management questions are not part of the CPA exam. Answer: FALSE Diff: 1 Objective: Q13.1 What are the three […]
Accounting Chapter 12 2 Which of the following is an incident or occurrence that originates inside an organization
Copyright © 2014 Pearson Education, Inc. Match the word to the appropriate sentence to complete the risk response definition. A) An entity reduces risk likelihood or risk impact by ________ the risk with another entity. B) This risk response refers […]
Accounting Chapter 12 1 The International Organization for Standardization framework for risk management
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 12 The Risk Intelligent Enterprise: Enterprise Risk Management Objective 1 1) The SEC requires company boards to report in-depth on how their enterprises identify risk, set risk tolerances, […]
Accounting Chapter 11 2 Which of the following firewalls destroys suspicious messages
Copyright © 2014 Pearson Education, Inc. 5) Which domain covers security for the electrical transmission of data through analog or digital transmission media? A) Security architecture and design B) Telecommunications C) Application security D) Cryptography Answer: B Diff: 2 Objective: […]
Accounting Chapter 11 1 Laws related to cybersecurity originate from legislation, regulations, and case law
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 11 Cybersecurity Objective 1 1) Cybersecurity combines people, processes, and technology to continually monitor vulnerabilities and respond proactively to secure the system. Answer: TRUE Diff: 2 Objective: Q11.1 […]
Accounting Chapter 10 2 List the five principle the on which the Trust Services framework is based
Copyright © 2014 Pearson Education, Inc. 13) Which general IT control covers acquisition, implementation, and maintenance of system software including the operating system, DBMS, network software, and security software? A) Access security controls B) Computer operations controls C) Program change […]
Accounting Chapter 10 1 Fraudulent financial reporting includes misstating financial statements to meet earnings targets
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 10 Fraud and Internal Control Objective 1 1) Motive and opportunity without means still results in fraud. Answer: FALSE Diff: 1 Objective: Q10.1 Fraud: What will I tell […]
Accounting Chapter 9 2 What is the difference between bolt-on tagging and integrated tagging
Copyright © 2014 Pearson Education, Inc. 19) What is the difference between bolt-on tagging and integrated tagging? Answer: Some organizations required to use XBRL for financial reporting use XBRL bolt-on tagging, adding the data tags after the reports are created. […]
Accounting Chapter 9 1 Which programming language is used for financial reporting around the globe
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 9 XBRL: Intelligent Business Reporting Objective 1 1) With XBRL, each financial reporting amount is electronically tagged with a description of the data. Answer: TRUE Diff: 1 Objective: […]
Accounting Chapter 8 1 Sustainability accounting does not impact people inside the organization.
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 8 Accounting and Sustainability Intelligence Objective 1 1) There is a class of corporation that reports on profit, people, and planet. Answer: TRUE Diff: 1 Objective: Q8.1 What’s […]
Accounting Chapter 8 2 The success of a framework or model is often based upon not perfection
Copyright © 2014 Pearson Education, Inc. 6) Sustainability reporting expands a firm’s performance report to include not only economic performance, but also a firm’s performance as it relates to ________ responsibility. Answer: social and environmental Diff: 3 Objective: Q8.4 How […]
Accounting Chapter 7 2 Which of the following is considered a disadvantage of shadow data
Copyright © 2014 Pearson Education, Inc. 3) Software called ________ translates data analysis query commands into commands that are compatible with RDBMS commands. Answer: Open DataBase Connectivity (ODBC) Diff: 1 Objective: Q7.4 Can shadow data create business intelligence (BI)? 4) […]
Accounting Chapter 7 1 Intelligence involves the ability to see meaningful interrelationships and glean insights
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 7 Accounting and Business Intelligence Objective 1 1) Uninformed consumers drive enterprises to use their information assets in more intelligent ways. Answer: FALSE Diff: 1 Objective: Q7.1 How […]
Accounting Chapter 6 1 The Internet permits remote sites to use a central database less efficiently
Answer: TRUE Diff: 1 Objective: Q6.1 What is an integrated enterprise system and how did we get here? Answer: FALSE Diff: 1 Objective: Q6.1 What is an integrated enterprise system and how did we get here? Answer: TRUE Diff: 1 […]
Accounting Chapter 5 2 Create a business process map organizer for the Spice House Purchase Order narrative
Copyright © 2014 Pearson Education, Inc. 17) In the receive items component of the Nice Lawn Purchase Narrative, what are the database tables? A) Item table, Vendor table, Purchase Order table, Purchase Order Line table, Accounts Receivable table B) Item […]
Accounting Chapter 5 1 Each step in the business process and workflow must be documented
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 5 Business Processes: Purchasing, Sales, and Payroll Cycles Objective 1 1) In a gap analysis, the gap between the baseline modules and the customization required to meet enterprise-specific […]
Accounting Chapter 4 2 When data is shown going into a process but no data is shown going out
Copyright © 2014 Pearson Education, Inc. 19) In a BPMN diagram, which symbol represents a data object? A) B) C) D) Answer: D Diff: 2 Objective: Q4.5 How do I read a BPMN 2.0 diagram? 20) In a BPMN diagram, […]
Accounting Chapter 4 1 What are the advantages of configuring or customizing a baseline accounting system
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 4 Accounting Systems and Business Processes Objective 1 1) Since a baseline accounting system is already developed, the time line for developing a system can be accelerated. Answer: […]
Accounting Chapter 3 2 Which report is submitted to the Securities and Exchange commission
Copyright © 2014 Pearson Education, Inc. 28) You are an accountant in a small company and are asked to work with the IT to redesign the user interface. The IT database designer proposes using interface below. What changes should be […]
Accounting Chapter 3 1 The accounting interface connects the accountant user to the database behind the screen
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 3 Accounting Interface: Database Forms, Queries, and Reports Objective 1 1) Accounting systems usually use a GUI to increase the ease of entering and retrieving accounting data. Answer: […]
International Business Chapter 25 2 Work-in-Process Inventory is debited when goods are transferred to finished goods
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 15) If direct labor for the month is $80,000, and overhead is applied based on 75% of direct labor dollars, what is the entry to apply overhead? A) Debit Work-in-Process […]
Accounting Chapter 2 2 Which of the relationships below is a many-to-many relationship
Copyright © 2014 Pearson Education, Inc. Use the database tables below to answer the following questions. 29) Which field in the SALES ORDERS table is a foreign key? A) SO No B) SO Date C) Shipping D) Customer ID Answer: […]
Business Law Chapter 54 1 The euro can only be used in countries that are part of the eurozone
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 54 International and World Trade Law 1) The U.S. Constitution divides the power to regulate foreign affairs equally between the federal and state governments. Answer: FALSE Diff: 1 Topic: […]
International Business Chapter 25 1 Which inventory account consists of manufacturing cost of goods that are complete
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall College Accounting, 12e (Slater) Chapter 25 Manufacturing Accounting 25.1 Learning Objective 25-1 1) Nails, depreciation, and foreman salaries are examples of: A) raw materials. B) direct labor. C) manufacturing overhead. […]
Accounting Chapter 2 1 Which tier in the accounting system architecture that consists of onscreen forms
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 2 Accounting Databases Objective 1 1) One of the disadvantages of a relational database is that we can enter data once into the database, and then reuse that […]
Business Law Chapter 53 1 A divorce is the only legal method of terminating a marriage
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 53 Family Law 1) A person who backs out of a promise to marry can be liable for punitive damages under the law. Answer: FALSE Diff: 1 Topic: Premarriage […]
International Business Chapter 24 2 Which of the following expenses is the most difficult to allocate to departments
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 24) Advertising expense totaled $20,000. If indirect advertising costs are allocated based on gross sales per department, what amount would be allocated to the glassware department if $5,000 of advertising […]
Accounting Chapter 1 2 which field belongs in a table containing customer information
Copyright © 2014 Pearson Education, Inc. 29) To record an inventory order, the information would be entered in a screen that looks similar to which paper form? A) Sales receipt B) Check C) Invoice D) Purchase order Answer: D Diff: […]
Business Law Chapter 52 1 A will can be created to come into effect during one’s lifetime
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 52 Wills, Trusts, and Estates 1) A will can be created to come into effect during one’s lifetime. Answer: FALSE Diff: 1 Topic: Introduction to Wills, Trusts, and Estates […]
International Business Chapter 24 1 Departmental reports are useful for all of the following purposes except
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall College Accounting, 12e (Slater) Chapter 24 Departmental Accounting 24.1 Learning Objective 24-1 1) A profit center is a unit in which the manager: A) has the responsibility for controlling costs, […]
Accounting Chapter 1 1 An integrated enterprise system allows different departments to use the same information
Copyright © 2014 Pearson Education, Inc. Accounting Information Systems, 2e (Kay/Ovlia) Chapter 1 Accounting Systems Insights Objective 1 1) An IT auditor must understand the terms and definitions used by accounting and IT professionals. Answer: TRUE Diff: 1 Objective: Q1.1 […]
Business Law Chapter 51 1 Third parties cannot sue accountants for breach of contract
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 51 Accountants’ Duties and Liability 1) A person who practices as an accountant, but is not certified, is referred to as a public accountant. Answer: TRUE Diff: 1 Topic: […]
International Business Chapter 23 2 If a partial payment is made after the voucher is prepared
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 75) Separation of duties in a voucher system leads to a more effective ________ for the management of cash payments. Answer: Internal Control Diff: 1 LO: 23-1 AACSB: Analytic Skills […]
Business Law Chapter 50 1 An insurance contract is called a policy
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 50 Insurance 1) Insurance is a form of coverage for loss that is initiated after the loss has occurred. Answer: FALSE Diff: 1 Topic: Introduction to Insurance Skill: Legal […]
International Business Chapter 23 1 In a voucher system, the controlling account in the general ledger
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall College Accounting, 12e (Slater) Chapter 23 The Voucher System 23.1 Learning Objective 23-1 1) A voucher system is designed to control a company’s: A) cash receipts. B) cash payments. C) […]
Business Law Chapter 49 1 A landlord’s right to receive rent is not transferable
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 49 Landlord-Tenant Law and Land Use Regulation 1) In a landlord-tenant relationship, the tenant receives a nonfreehold estate in the real property. Answer: TRUE Diff: 1 Topic: Landlord-Tenant Relationship […]
International Business Chapter 22 2 The ratio that indicates the amount of assets that are financed by creditors is
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 28) If management wishes to measure a business’s ability to pay upcoming debts, they could refer to measures for: A) leverage. B) liquidity. C) debt management. D) profitability. Answer: B […]
Business Law Chapter 48 2 During The Marriage Jonass Real Estate Has
Copyright © 2013 Pearson Education, Inc. 61) Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners. They are tenants with the right to survivorship. Lizzi transfers her one-quarter interest in the building to a private charity […]
International Business Chapter 22 1 A statement comparing data from two or more consecutive periods is called
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall College Accounting, 12e (Slater) Chapter 22 Analyzing Financial Statements 22.1 Learning Objective 22-1 1) A statement comparing data from two or more consecutive periods is called a: A) comparative balance […]
Business Law Chapter 48 1 Subsurface Rights Cannot Used Mine Radioactive Elements b
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 48 Real Property 1) Buildings constructed on land are considered personal property. Answer: FALSE Diff: 1 Topic: Real Property Skill: Legal Concepts 2) A bridge would be an example […]
International Business Chapter 21 2 Which of the following is not a cash flow from investing activities
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 15) Col 1 Operating Direct Col 2 Operating Indirect Col 3 Investing Col 4 Financing Increase in prepaid expenses Answer: Col 1 Operating Direct Col 2 Operating Indirect Col 3 […]
Business Law Chapter 47 1 Topic Ownership Personal Property Skill Legal Concepts
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 47 Personal Property and Bailment 1) Personal property includes land and property that is permanently attached to it. Answer: FALSE Diff: 1 Topic: Personal Property Skill: Legal Concepts 2) […]
International Business Chapter 21 1 The statement of cash flows provides information about all of the following except
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall College Accounting, 12e (Slater) Chapter 21 Statement of Cash Flows 21.1 Learning Objective 21-1 1) A statement of cash flows: A) has three main sections: net cash flow from operating, […]
Business Law Chapter 46 1 Federal antitrust laws provide only for government lawsuits
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 46 Antitrust Law and Unfair Trade Practices 1) The antitrust laws were enacted to promote anticompetitive behavior in commerce and industry. Answer: FALSE Diff: 1 Topic: Introduction to Antitrust […]