QUESTIONS WITH SOLUTIONS GRADED A+
◍ to provide expertise.
Answer: A primary role for accountants during the detailed design phase is
◍ Lacks practical guidance.
Answer: What is a limitation of the preventive-detective-corrective (PDC)
control model?
◍ The auditor identified at least one material weakness in internal controls..
Answer: After completing the annual audit for a publicly traded company,
an external auditor issues a qualified opinion about the effectiveness of
internal controls. What is the implication of this finding?
◍ the user view.
Answer: Which of the following may provide many distinct view of the
database?
◍ General accounting system.
Answer: If a firm purchases an accounts payable module, which type of
system is it purchasing?
◍ GAAP, GAAS, SEC requirements and IRS codes..
Answer: Accountants will provide technical expertise in
◍ Key processes of an organization.
Answer: What are order entry, manufacturing, procurement, accounts
payable, payroll and human resources examples of?
◍ Direct deposit.
Answer: What is an example of a payroll system information technology
(IT) control?
,◍ general ledger compares the labor distribution summary from cost
accounting to the disbursement voucher from accounts payable..
Answer: An important reconciliation in the payroll system is
◍ is used to reprocess the same transactions that the production application
previously processed..
Answer: Parallel simulation
◍ Master file.
Answer: Which digital computer file contains account data that are updated
by transactions and includes the general ledger and subsidiary ledgers?
◍ They lacked the integration needed for information transfers across
organizational boundaries..
Answer: While in-house, custom-designed systems dealt efficiently with
their designated tasks, they did not provide strategic decision support at the
enterprise level. What is the reason that they lacked support?
◍ Honesty.
Answer: What is one of the four areas that ethical issues in business can be
divided into?
◍ grandfather-father-son..
Answer: A sequential file backup technique is called
◍ Measure compliance with an organization's prescribed polices and
procedures..
Answer: Which internal control is primarily supported by a manager's
review of a checklist after a task has been completed?
◍ those for whom the system is built..
Answer: End users are
◍ The agreement details the quantities to be sold, guaranteed delivery times,
payment terms, and methods handling disputes..
Answer: Which strategic agreement is made between buyer and seller for
electronic data interchange?
, ◍ Delays in orders.
Answer: What is a potential result of redundant task in a closed database
environment.
◍ the purchase of computer.
Answer: An example of a financial transactions is
◍ Collecting data only once.
Answer: What does efficiency mean in the data collection process?
◍ individuals who browse the operating system to identify and exploit security
flaws..
Answer: Which of the following is considered an intentional threat to the
integrity of the operating system?
◍ By choosing the correct depreciation method..
Answer: How do accountants provide technical support during the systems
development phase?
◍ reference file.
Answer: What type of digital computer file stores payroll programs and
other data that are used as standards for processing?
◍ A comparison of budgets to actual amounts and review of the variance..
Answer: Which comparison serves as a tool for managers by using data
from the budget master file and from the responsibility center file?
◍ the production of useful information.
Answer: The goal of data processing is
◍ Data from the TPS are input for the GLS.
Answer: What is the relationship between the transaction processing system
(TPS) and the general ledger system (GLS)?
◍ Updating inventory.
Answer: Which function reflects the expenditure cycle?
◍ the transfer of information among modules occurs automatically..