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ACC 340 Final Exam




ACC/340 Final Exam;1. Three objectives of a company's internal control system should be safeguarding assets, checking the accuracy and reliability of accounting data, and promoting operational efficiency. A fourth objective of a company's internal control system should be;a. Preventing embezzlement of assets;b. Encouraging adherence to prescribed managerial policies;c. Avoiding the payment of overtime to company employees;d. Revising standards for production costs on a weekly basis;2. Control activities and monitoring are one and the same. T or F;3. General controls within IT environments that affect personnel include;a. Use of computer accounts;b. Separation of duties;c. Informal knowledge of employees;d. all of the above affect personnel;4. Contingency planning includes the development of a formal disaster recovery plan T or F;5. What has been the effect on accountants in those organizations which have computerized their data processing functions?;a. The need for accountants has disappeared;b. The accountants have become "pure" bookkeepers;c. The accountants have become involved in more decision making activities;d. The accountants' decision making activities have drastically declined;6. Since accountants are not normally computer programmers working within the information processing subsystem, it is unnecessary for them to understand the capabilities and limitations of computers;T or F;7. An advantage of an extranet is that;a. It can disseminate information corporate wide;b. It can be accessed by selected trading partners;c. Users can employ common web browsers to access information in them;d. all of the above;8. Intranets do not use the same software as the Internet. T or F;9. Data flow diagrams;a. Accomplish the same purpose as system flowcharts;b. Are different from system flowcharts since they focus on a logical view of the information system;c. Are useless for planning a new system;d. Are never used in analyzing an existing system;10. Three major objectives of a data collection process are accuracy, timeliness, and cost-effectiveness T or F;11. Business process reengineering;a. Is an incremental approach to redesigning business processes;b. Involves redesigning business processes from scratch;c. Is rarely successful in cutting an organization?s costs;d. Is always welcomed by an organization?s employees;12. An e-business portal is a gateway to outside web sites and services T or F;13. Enterprise-wide AISs;a. Almost never pay for themselves;b. Do not include many more features than middle-range accounting software packages;c. Are seldom used by multinational organizations;d. Integrate an organization?s financial functions with its other functional areas;14. The ?concurrency? concern in database operations refers to the need to convert foreign currency amounts into dollar terms before reporting them to subschema viewers. T or F;15. In the REA framework, which of these would be recorded as an ?event??;a. Hiring a new president of the company;b. Taking an initial sales order from a customer;c. Buying a piece of equipment for cash;d. all of these would be recorded as events;16. Three of the largest concerns when creating databases are ?data integrity,? ?processing accuracy,? and ?data security.? T or F;17. The purpose of the entity relationship (E-R) model is to help database designers;a. Identify data redundancies;b. Create databases in third normal form;c. Design databases and depict data relationships;d. Answer structured queries about the data in accounting databases;18. Database management systems are important to accountants because;a. They automate file storage tasks and enable managers to generate worthwhile financial reports;b. They eliminate data redundancy;c. They are unique data structures which accountants have never used before;d. They are easy to develop and therefore save money;e. They are energy efficient;19. One purpose of generalized auditing packages is to enable an auditor to examine the contents of computer files of interest without having to write a computer program himself/herself.;T or F;20. Which of these is not generally a reason to outsource;a. Retain control over data;b. Attractive business solution;c. Lower data processing costs;d. Avoid seasonal fluctuations


Paper#74024 | Written in 18-Jul-2015

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