CH 11/12 ACC 409 EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++
According to AS 5, control risk should be assessed in terms of:
Financial Statement assertions
A manufacturing firm identified that it would have difficulty sourcing raw
materials locally, so it decided to relocate its production facilities. According to
COSO, this decision represents which of the following response to the risk?
Risk Reduction
Each of the following types of controls is considered to be an entity-level control,
except those:
Regarding the company's annual stockholders meeting
Which of the following is not one of the key COBIT 5 principles for governance
and management of enterprise IT?
Separating management from shareholders
The ISO 27000 Series of standards are designed to address which of the
following?
Information Security Issues
Which of the following most likely would not be considered as an inherent
limitation of the effectiveness of a firm's internal control?
Incompatible dutie
, Which of the following is not one of the responses to risk presented in COSO
ERM?
Delegate the risk
All of the following are examples of internal control procedures except:
Customer satisfaction surveys
According to COSO, which of the following components of the enterprise risk
management addresses an entity's integrity and ethical values?
Internal Enviroment
Tracing shipping documents to pre-numbered sales invoices provides evidence
that:
Shipments to customers were properly invoiced
Which of the following is an example of a validity check?
The computer flags any transmission for which the control field value did not match that
of an existing file record.
Reconciliation of cash accounts may be referred to as what type of control?
Detective
According to COSO which of the following is not a component of internal
control?
Control Risk
Ethical principals are derived from all of the following except:
Cost benefit analysis
According to COSO ERM, which of the following is not one of the bases that
should be used to analyze the risks of an identified event?
COMPLETE SOLUTIONS GRADED A++
According to AS 5, control risk should be assessed in terms of:
Financial Statement assertions
A manufacturing firm identified that it would have difficulty sourcing raw
materials locally, so it decided to relocate its production facilities. According to
COSO, this decision represents which of the following response to the risk?
Risk Reduction
Each of the following types of controls is considered to be an entity-level control,
except those:
Regarding the company's annual stockholders meeting
Which of the following is not one of the key COBIT 5 principles for governance
and management of enterprise IT?
Separating management from shareholders
The ISO 27000 Series of standards are designed to address which of the
following?
Information Security Issues
Which of the following most likely would not be considered as an inherent
limitation of the effectiveness of a firm's internal control?
Incompatible dutie
, Which of the following is not one of the responses to risk presented in COSO
ERM?
Delegate the risk
All of the following are examples of internal control procedures except:
Customer satisfaction surveys
According to COSO, which of the following components of the enterprise risk
management addresses an entity's integrity and ethical values?
Internal Enviroment
Tracing shipping documents to pre-numbered sales invoices provides evidence
that:
Shipments to customers were properly invoiced
Which of the following is an example of a validity check?
The computer flags any transmission for which the control field value did not match that
of an existing file record.
Reconciliation of cash accounts may be referred to as what type of control?
Detective
According to COSO which of the following is not a component of internal
control?
Control Risk
Ethical principals are derived from all of the following except:
Cost benefit analysis
According to COSO ERM, which of the following is not one of the bases that
should be used to analyze the risks of an identified event?
