Courses intended for freshmen at a local university are numbered from 100 to 199,
while courses intended for seniors at the same university are numbered from 400 to
499. Which coding system is the university using?
A. Sequential
B. Block
C. Hierarchical
D. Mnemonic
Robert is the president and CEO of Computer Solutions; the firm’s main activity is
installing enterprise resource planning software. When a client calls Robert, he does an
“intake interview” where he assesses the client’s needs and learns about their company.
Robert tries to interview at least a dozen people at each client, including top
management and mid- and lower-level employees.
At what point would Robert be best equipped to submit a project budget to his client?
A. When he is hired
B. Immediately before the intake interview
C. After the intake interview
D. After the “build” phase of the systems development life cycle
Consider the following partially completed risk/control matrix as you answer the
questions:
Assume the risk/control matrix is organized like the one presented in the chapter.
Column A is most closely related to the ___ part of the COSO framework.
A. first
B. second
C. fourth
D. last
Both deontology and ___ emphasize duty to others.
A. utilitarianism
B. ethical egoism
C. Both utilitarianism and ethical egoism
D. Neither utilitarianism nor ethical egoism
Most organizations use purchase orders to authorize inventory and other purchases. If a
company’s purchase order contains a field labeled “purchase order number,” it most
likely uses what kind of coding?
A. Sequential
B. Block
C. Hierarchical
D. Mnemonic
The acquisition/payment process:
A. Helps an organization create value for its stakeholders.
B. Can only be applied if an organization sells a product.
C. Both helps an organization create value for its stakeholders and can only be applied
if an organization sells a product.
D. Neither helps an organization create value for its stakeholders nor can only be
applied if an organization sells a product.
As part of the financing business process, corporations may need to account for an
initial public offering. How many different forms of a prospectus are parts of the IPO
based on the seven steps listed in the text?
A. Two
B. Three
C. Four
D. Some other number
According to the University of Maryland’s University College, information should be
evaluated based on ___ criteria.
A. Two
B. Three
C. Four
D. Five
E. More than five
Consider the table below as you respond to the questions:
Which of the following is the best choice for Item B in the table?
A. Based on feedback from employee interviews, plan the organization and appearance
of each module.
B. State law mandates annual safety training for all employees.
C. Review the relevant law to determine its specifications.
D. Design the project budget.
Sylla and Wen suggested a three-stage process for evaluating information technology
investments. Which step in the process is most closely aligned with the “internal
environment” component of the COSO internal control and enterprise risk management
frameworks?
A. Step 1
B. Step 2
C. Step 3
D. None of these; there is no relationship between the Sylla and Wen process and the
COSO frameworks.
Accounting information systems have five generic elements. Which one applies to each
item listed below within the context of the acquisition/payment process?
a. Adequate documentation of the process
b. Check, from the viewpoint of the buyer
c. Inventory status report
d. Purchase order, from the viewpoint of the purchasing department
e. Purchase requisition, from the viewpoint of the purchasing department
f. Purchases/inventory junction file
g. Recording journal entries to purchase inventory
h. Separation of duties
i. Steps in the acquisition/payment process
j. Vendor master file
The chapter discussed four types of flowcharts. Which one would be most appropriately
used in each of the following independent situations?
a. Demonstrating how to create a procedures manual
b. Explaining what happens in a financial statement audit
c. Illustrating the steps in the accounting cycle
d. Showing the relationship between computers and printers within an office building
e. Tracing the path of a check from the time it is written until it is paid by the bank
f. Writing computer code that will generate general purpose financial statements
A government accountant suspects someone within the government is embezzling cash.
Which of the following statements is most true?
A. The government would not pass a compliance audit.
B. An investigative audit will confirm the accountant’s suspicion.
C. Both the government would not pass a compliance audit and an investigative audit
will confirm the accountant’s suspicion are true.
D. Neither the government would not pass a compliance audit nor an investigative audit
will confirm the accountant’s suspicion is true.