ACCT 307 FINAL REVIEW EXAM
QUESTIONS AND ANSWERS 100% PASS
2026/2027
Which of the following is an example of a business rule implementing access controls?
- The warehouse containing inventory must be locked when the inventory manager is not
present.
- Users recording collections cannot modify sales records.
- The computer system shall generate an audit trail.
- Internal auditors shall be used.
- The warehouse containing inventory must be locked when the inventory manager is not
present and user's recording collections cannot modify sales records are business rules
implementing access controls. - ANS The warehouse containing inventory must be locked
when the inventory manager is not present and user's recording collections cannot modify sales
records are business rules implementing access controls.
Which of the following is not one of the elements to be identified when developing business
rules?
- Important business events.
- Conditions that affects the intention/objective for an event.
@2026 ALLRIGHTS RESERVED 1
,- Access controls that limit who can use information.
- Actions to be taken based on conditions. - ANS Access controls that limit who can use
information.
Which of the following best describes the use of type images in UML class modeling?
- Allow companies to include graphic images in class models.
- Used to enumerate a many-to-many association between two REA classes.
- Allow modelers to distinguish between types of activities in an activity diagram.
- Allow categorization of REA classes based on management's information needs. - ANS Allow
categorization of REA classes based on management's information needs.
In the generic REA model for the sales and collections process, the multiplicities between the
Sales and Cash Receipts classes are displayed with question marks. Which of the following best
explains this?
- The direction of process flow depends on the nature of the business.
- The quantities of items sold can't be determined until the sale occurs.
- The actual values will depend on the nature of the business.
- The customer determines the multiplicities for this association. - ANS The actual values will
depend on the nature of the business.
Which of following best describes the control activities that access controls can help
implement?
- Document control.
- Safeguard assets.
@2026 ALLRIGHTS RESERVED 2
, - Segregation of duties.
- Monitoring. - ANS Segregation of duties
In Access, system designers sometimes set range limits for values of attributes so users can't
enter unreasonable values; this is an example of what kind of controls?
- Application.
- Access.
- Internal.
- Management. - ANS Application
Which of the following best describes the first step in the process for developing business rules?
- Prepare an activity diagram.
- Identify important events (or steps) in a process.
- Prepare a structure diagram.
- Review process documentation. - ANS Identify important events (or steps) in a process.
Which of the following is not an activity in the purchases and payments process?
- Request prices
- Receive items
- Pay for items
- Bill customers
- All of the choices are activities in the purchases and payments process. - ANS Bill Customers
@2026 ALLRIGHTS RESERVED 3
QUESTIONS AND ANSWERS 100% PASS
2026/2027
Which of the following is an example of a business rule implementing access controls?
- The warehouse containing inventory must be locked when the inventory manager is not
present.
- Users recording collections cannot modify sales records.
- The computer system shall generate an audit trail.
- Internal auditors shall be used.
- The warehouse containing inventory must be locked when the inventory manager is not
present and user's recording collections cannot modify sales records are business rules
implementing access controls. - ANS The warehouse containing inventory must be locked
when the inventory manager is not present and user's recording collections cannot modify sales
records are business rules implementing access controls.
Which of the following is not one of the elements to be identified when developing business
rules?
- Important business events.
- Conditions that affects the intention/objective for an event.
@2026 ALLRIGHTS RESERVED 1
,- Access controls that limit who can use information.
- Actions to be taken based on conditions. - ANS Access controls that limit who can use
information.
Which of the following best describes the use of type images in UML class modeling?
- Allow companies to include graphic images in class models.
- Used to enumerate a many-to-many association between two REA classes.
- Allow modelers to distinguish between types of activities in an activity diagram.
- Allow categorization of REA classes based on management's information needs. - ANS Allow
categorization of REA classes based on management's information needs.
In the generic REA model for the sales and collections process, the multiplicities between the
Sales and Cash Receipts classes are displayed with question marks. Which of the following best
explains this?
- The direction of process flow depends on the nature of the business.
- The quantities of items sold can't be determined until the sale occurs.
- The actual values will depend on the nature of the business.
- The customer determines the multiplicities for this association. - ANS The actual values will
depend on the nature of the business.
Which of following best describes the control activities that access controls can help
implement?
- Document control.
- Safeguard assets.
@2026 ALLRIGHTS RESERVED 2
, - Segregation of duties.
- Monitoring. - ANS Segregation of duties
In Access, system designers sometimes set range limits for values of attributes so users can't
enter unreasonable values; this is an example of what kind of controls?
- Application.
- Access.
- Internal.
- Management. - ANS Application
Which of the following best describes the first step in the process for developing business rules?
- Prepare an activity diagram.
- Identify important events (or steps) in a process.
- Prepare a structure diagram.
- Review process documentation. - ANS Identify important events (or steps) in a process.
Which of the following is not an activity in the purchases and payments process?
- Request prices
- Receive items
- Pay for items
- Bill customers
- All of the choices are activities in the purchases and payments process. - ANS Bill Customers
@2026 ALLRIGHTS RESERVED 3
