DeVry ACCT 571 All Week Quizes Latest

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DeVry ACCT 571 All Week Quizes Latest

DeVry ACCT 571 Week 1 Quiz Latest

TCO A) Information is:

What happens when the data exceeds the amount the human mind can absorb.

The benefit produced by the information minus the cost of producing it.

Facts that are collected, recorded, stored, and processed by an information system.

Data that have been organized and processed to provide meaning to a user.

Question 2. Question :

(TCO A) Which of the following is not one of the components of an AIS?

internal controls & security measures

people

procedures and instructions

none of the above

Question 3. Question :

(TCO A) The operations performed on data to generate meaningful and relevant information are referred to as

general ledger and reporting system

accounting information system

financial reporting

data processing cycle

Question 4. Question :

(TCO A) Callow Youth Clothing is a boutique retailer located in Estes Park, Colorado. During the peak tourist season, it has average daily cash and credit card sales in excess of $5,000. What is the best way for this business to ensure that sales data entry is efficient and accurate?

Well-designed paper forms

Source data automation

Turnaround documents

Sequentially numbered forms

Question 5. Question :

(TCO A) A graphical description of the sequence of logical operations that a computer performs is called

a data flow diagram

a document flowchart

a system flowchart

a program flowchart

Question 6. Question :

(TCO A) What is the purpose behind the five primary activities in the value chain?

Question 7. Question :

(TCO A) Name two reasons why it is important to have a working knowledge of DFDs and flowcharting.

DeVry ACCT 571 Week 2 Quiz Latest

(TCO G) Redundancy can be a major problem in the design and operation of relational databases. If a database uses only one relation to store data, several problems may subsequently occur. The problem of changes (or updates) to data values being incorrectly recorded is known as

an update anomaly.

an insert anomaly.

a delete anomaly.

a memory anomaly.

Question 2. Question :

(TCO B) Many fraud cases go unreported and unprosecuted for several reasons. Why is this the case?

Companies are reluctant to report computer crimes because a highly visible computer fraud is a public relations nightmare.

Such crimes are difficult, costly, and time-consuming to investigate and prosecute.

Law enforcement and the courts are often too busy with violent crimes that little time is left for fraud cases.

all of the above

Question 3. Question :

(TCO G) Chelsana Washington is a medical equipment sales representative. Her company has provided her with a laptop computer that uses wireless connectivity to access the accounting information system from virtually anywhere in the country. She, and the other sales reps, have read access to customer and product information. They have write access that allows them to enter and cancel customer orders. These permissions define a(an) ______ in the company’s database management system.

schema

subschema

data dictionary

physical view

Question 4. Question :

(TCO B) This control framework addresses the issue of control from three vantage points: business objectives, information technology resources, and information technology processes.

ISACA’s control objectives for information and related technology

COSO’s internal control framework

COSO’s enterprise risk management framework

None of the above

Question 5. Question :

(TCO G) Identify the aspect of a normalized database that is incorrect:

Data is consistent.

Redundancy is minimized and controlled.

All data is stored in one table or relation.

The primary key of any row in a relation cannot be null.

Question 6. Question :

(TCO B) Why is computer fraud on the rise?

Question 7. Question :

(TCO B) What is a weakness of the internal control concept of the separation of duties?

Points Received: 0 of 5

Comments:

DeVry ACCT 571 Week 3 Quiz Latest

(TCO G) This creates logs of network traffic that was permitted to pass the firewall.

Intrusion detection system

Log analysis

Penetration test

Vulnerability scan

Question 2. Question : (TCO G) Multi-factor authentication

Involves the use of two or more basic authentication methods.

Is a table specifying which portions of the systems users are permitted to access.

Provides weaker authentication than the use of effective passwords.

Requires the use of more than one effective password.

Question 3. Question : (TCO G) The Trust Services Framework reliability principle that states that users must be able to enter, update, and retrieve data during agreed-upon times is known as

availability.

security.

maintainability.

integrity.

Question 4. Question : (TCO G) Which of the following is not one of the 10 internationally recognized best practices for protecting the privacy of customers’ personal information?

Access.

Monitoring and enforcement.

Registration.

Security.

Question 5. Question : (TCO G) With which stage in the auditing process are the consideration of risk factors and materiality most associated?

audit planning

collection of audit evidence

communication of audit results

evaluation of audit evidence

Question 6. Question : (TCO G)

Identify six physical access controls.

Unauthorized or Unidentified Persons Deliveries Visitors Access Device Dormitory Facilities. Employees

Question 7. Question : (TCO G) Why do all audits follow a sequence of events that can be divided into four stages?

DeVry ACCT 571 Week 4 Quiz Latest

(TCO D) In the revenue cycle, a customer places an order for a certain product. Before the order is checked for inventory availability, what step should be taken?

The customer’s credit should be checked for a sale on account.

The sales order should be created and written to a file.

Shipping should be notified of an order in process.

A picking list should be generated for the warehouse.

Question 2. Question : (TCO D) With a(n) __________ system, customers pay according to the amount showing on their monthly statement and payments are simply applied against the total account balance.

closed invoice

open invoice

balance forward

invoice forward

Question 3. Question : (TCO D) Sad Clown Pajamas is an Internet-based wholesaler. Customers enter their orders online. The manager of Callow Youth Clothing was entering and order when the following error message popped up: Please enter your email address. This message is the result of a

validity check.

reasonableness test.

limit check.

completeness test.

Question 4. Question : (TCO D) Double-checking the accuracy of an invoice is an applicable control that can help to neutralize a threat in the expenditure cycle. What process or activity would specifically be associated with this control?

order goods

receive and store goods

pay for goods and services

general issues

Question 5. Question : (TCO D) The receiving clerk at Folding Squid Technologies examines incoming shipments and checks their purchase order numbers. A receiving report is then sent to accounts payable, where it is reconciled with the relevant purchase orders and invoices and payment is authorized. Which of the following would correct control weaknesses, if any, related to these activities?

Vendor invoices should be approved for payment by the shipping clerk after the purchase order and receiving report are reconciled.

Vendor invoices should be approved for payment by the purchasing manager.

Purchase orders and receiving reports should be reconciled by the purchasing manager.

Controls are adequate under the current system.

Question 6. Question : (TCO D) In billing and accounts receivable, what documents are commonly used?

Question 7. Question : (TCO D) How can information technology be used to improve the vendor invoice approval process?

Points Received: 0 of 5

Comments:

DeVry ACCT 571 Week 5 Quiz Latest

(TCO E) A __________ authorizes the transfer of raw goods needed for production from the storeroom to the production facilities.

master production schedule

materials requisition

move ticket

production order

Instructor Explanation: Chapter 14, page 412

Points Received: 2 of 2

Comments:

Question 2. Question : (TCO E) Labor productivity is measured by the average product of labor; i.e., the quantity produced divided by the labor time required to produce it. All other things held constant, an increase in labor productivity will increase throughput by

increasing productive capacity.

increasing productive processing time.

increasing yield.

increasing all components of throughput.

Instructor Explanation: Chapter 14 pages 423

Points Received: 2 of 2

Comments:

Question 3. Question : (TCO E) Theft or fraudulent distribution of payroll checks is a potential threat to the payroll processing activity. What is one control that can be implemented to help prevent paychecks being issued to a “phantom” or “ghost” employee?

the cashier should sign all payroll checks

prenumber all payroll checks

use an imprest account to clear payroll checks

paychecks should be physically distributed by someone who does not authorize or record payroll

Instructor Explanation: Chapter 15, page 450

Points Received: 2 of 2

Comments:

Question 4. Question : (TCO F) Concerning XBRL, which of the following statements is not true?

XBRL is a variant of XML.

XBRL is specifically designed for use in communicating the content of financial data.

XBRL creates unique tags for each data item.

XBRL’s adoption means accountants and systems professionals must know how to write XBRL code to take advantage of its benefits.

Instructor Explanation: Chapter 16, page 472-3

Points Received: 2 of 2

Comments:

Question 5. Question : (TCO F) Bobby Burns, CEO of Maudlin Motors, walked into the office of Tom Sanchez, chief information officer. “Tom,” he said. “We need some way of getting a better handle on our overall performance. The financial reports are all well and good, but we need to track customer satisfaction and other aspects of the business.” Tom should recommend that Maudlin Motors

implement a data warehouse system.

set up a data mining operation.

use online analytical processing (OLAP.)

implement balanced scorecard reporting.

Question 6. Question : (TCO E) What are some of the benefits of using incentives and bonuses? What are some dangers?

Question 7. Question : (TCO F) How is an audit trail used in the general ledger and reporting system?

DeVry ACCT 571 Week 6 Quiz Latest

(TCO F) An example of an agent is

customer

sales

cash

inventory

Comments:

Question 2. Question : (TCO F) When implementing 1:1 and 1:N relationships

Foreign keys are used.

Separate tables could be used.

The primary key of one entity becomes a foreign key in the other entity’s table.

Concatenated primary keys are used.

Question 3. Question : (TCO F) A query that extracts, for a given time period, all sales events for which there is no corresponding receive cash event on the date of the sales event will yield

a cash account ledger.

a credit sales journal.

an accounts receivable ledger.

an accounts payable journal.

I

Question 4. Question : (TCO F) Supplier number is most likely to be a foreign key in:

Order Goods

Pay for Goods

Receive Goods

Warehouse

Instructor Explanation: Chapter 18, page 531

Points Received: 2 of 2

Comments:

Question 5. Question : (TCO F) The cardinality pair from the Order Goods event back to the Request Goods event also has a ___ minimum and ___ maximum.

0,1

0,N

1,N

N,M

0 of 2

Comments:

Question 6. Question : (TCO F) Define cardinality.

Question 7. Question : (TCO F) Explain where in the REA model you can find the information normally found in a ledger.

DeVry ACCT 571 Week 7 Quiz Latest

(TCO H) In which phase of the systems development life cycle are the broad needs of the users converted into detailed specifics that are coded and tested?

Student Answer: conceptual design

implementation and conversion

physical design

systems analysis

Question 2. Question :

(TCO H) When using the payback method to determine economic feasibility of projects, the company usually accepts the project with the

longest payback period.

mid-range payback period.

payback period that is equal to the project’s economic life.

shortest payback period.

Question 3. Question :

(TCO H) When canned software is used for systems acquisition, the implementation and conversion phase of the SDLC

does not involve the documentation step.

does not require the company to have trained IS personnel.

does not require the develop and test software step.

both A and C above

Question 4. Question :

(TCO H) Which statement below regarding prototyping is false?

Student Answer: A prototype is considered a “first draft,” which is quickly and expensively built for testing purposes.

Developers who use prototyping still go through the SDLC.

It is easier for people to express what they like or dislike about a prototype than to imagine what they want in a system.

Prototyping allows developers to condense and speed up parts of the analysis and design phases.

Question 5. Question :

(TCO H) Acceptance tests involve

managers observing the operation of the system by “walking through” the IT department.

processing hypothetical data that are designed to identify errors in the system.

processing copies of real transactions in order to determine whether or not the system meets requirements.

a thorough review of the procedures and program logic of the system.

Question 6. Question :

(TCO H) What are the controls design considerations in a new AIS?

Question 7. Question :

(TCO H) What is outsourcing? What are the different types of outsourcing agreements?

 

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DeVry ACCT 571 All Week Quizes Latest