Question 1

An ABC inventory system refers to an "activity-based costing" system.

Accepted Answer

A) True 
 B)False

Question 2

XBRL is a business reporting language that is used to define interactive financial data.

Accepted Answer

A) True 
 B)False

Question 3

An advantage of cloud computing is that:

Accepted Answer

A) No one understands it, including hackers and would-be fraudsters 
B) All data inputs, processing, and outputs are hidden 
C) Users pay only for the services they require 
D) Smaller businesses or government agencies cannot use it 
A) No one understands it, including hackers and would-be fraudsters 
B) All data inputs, processing, and outputs are hidden 
C) Users pay only for the services they require 
D) Smaller businesses or government agencies cannot use it

Question 4

An example of a value-added reseller VAR)is a computer dealer that adds software to the hardware it sells.

Accepted Answer

A) True 
 B)False

Question 5

In 2006, Bill 26 expanded FINTRAC's mandate so that:

Accepted Answer

A) It requires banks to monitor their accounts in foreign institutions for fraud 
B) It prohibits companies from lending money to corporate executives 
C) It applies to all publicly-traded companies 
D) all of these are correct 
A) It requires banks to monitor their accounts in foreign institutions for fraud 
B) It prohibits companies from lending money to corporate executives 
C) It applies to all publicly-traded companies 
D) all of these are correct

Question 6

What has been the effect on accountants in those organizations which have computerized their data processing functions?

Accepted Answer

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 
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

Question 7

Which of the following captures the same idea as the term "GIGO" garbage in, garbage out)?

Accepted Answer

A) Computers cannot turn straw into gold 
B) Too much information is the same as garbage 
C) Great investments lead to great returns 
D) Too many cooks spoil the broth 
A) Computers cannot turn straw into gold 
B) Too much information is the same as garbage 
C) Great investments lead to great returns 
D) Too many cooks spoil the broth

Question 8

Which of these is a business reporting language often used in recording or transmitting accounting data?

Accepted Answer

A) XBRL 
B) XFile 
C) ABC 
D) Accounting Live 
A) XBRL 
B) XFile 
C) ABC 
D) Accounting Live

Question 9

Most AISs perform all of these functions except:

Accepted Answer

A) Collect raw accounting data 
B) Store accounting data for future uses 
C) Process data into useful information 
D) AISs perform all of these functions 
A) Collect raw accounting data 
B) Store accounting data for future uses 
C) Process data into useful information 
D) AISs perform all of these functions

Question 10

Which of the following best describes a data warehouse as discussed in Chapter 1?

Accepted Answer

A) A repository of historical information from one accounting application 
B) A repository of historical information from a set of accounting applications 
C) A repository of information from many business applications-some not accounting 
D) A repository of information from many businesses in the same industry 
A) A repository of historical information from one accounting application 
B) A repository of historical information from a set of accounting applications 
C) A repository of information from many business applications-some not accounting 
D) A repository of information from many businesses in the same industry

Question 11

Which of these is a certification that accountants can earn that focuses on forensic accounting?

Accepted Answer

A) CFA 
B) CA 
C) CISA 
D) CFE 
A) CFA 
B) CA 
C) CISA 
D) CFE

Question 12

As used in Chapter 1, a dashboard is an up-to-the-minute graphic depiction of one or more business activities.

Accepted Answer

A) True 
 B)False

Question 13

Predictive analytics use large data warehouses to help organizations improve performance.

Accepted Answer

A) True 
 B)False

Question 14

Which of these is a drawback of cloud computing?

Accepted Answer

A) Inability to handle periods of peak processing loads 
B) Users must still invest heavily in computer resources of their own 
C) Requires users to pay for services, whether they use them or not 
D) May requires users to trust service provider with sensitive data 
E) none of these are drawbacks of cloud computing 
A) Inability to handle periods of peak processing loads 
B) Users must still invest heavily in computer resources of their own 
C) Requires users to pay for services, whether they use them or not 
D) May requires users to trust service provider with sensitive data 
E) none of these are drawbacks of cloud computing

Question 15

Which of these terms is most closely associated with cloud computing?

Accepted Answer

A) Data processing 
B) Outsourcing 
C) Data communications 
D) Source programming language 
E) Compiling 
A) Data processing 
B) Outsourcing 
C) Data communications 
D) Source programming language 
E) Compiling

Question 16

Bernard Madoff is most closely associated with which of the following terms?

Accepted Answer

A) The father of activity-based costing systems 
B) SAR 
C) Ponzi scheme 
D) CICA Rule 204 
E) Key sponsor of the FINTRAC 
A) The father of activity-based costing systems 
B) SAR 
C) Ponzi scheme 
D) CICA Rule 204 
E) Key sponsor of the FINTRAC

Question 17

The acronym AIS stands for "Accounting Information Standards."

Accepted Answer

A) True 
 B)False

Question 18

The starting point for an audit trail of a payroll system might be an employee time card.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following describes "cloud computing"?

Accepted Answer

A) It is a is a way of using business applications over the Internet 
B) It is an internal business process over the organizations intranet 
C) It is an internal business process over the organizations extranet 
D) none of these 
A) It is a is a way of using business applications over the Internet 
B) It is an internal business process over the organizations intranet 
C) It is an internal business process over the organizations extranet 
D) none of these

Question 20

The process by which a financial transaction is recorded so that its flow through the system can be followed is called:

Accepted Answer

A) Financial shadowing 
B) Managerial trace technique 
C) Concatenation 
D) An audit trail 
A) Financial shadowing 
B) Managerial trace technique 
C) Concatenation 
D) An audit trail

An ABC inventory system refers to an "activity-based costing" system.

XBRL is a business reporting language that is used to define interactive financial data.

An advantage of cloud computing is that:

An example of a value-added reseller VAR)is a computer dealer that adds software to the hardware it sells.

In 2006, Bill 26 expanded FINTRAC's mandate so that:

What has been the effect on accountants in those organizations which have computerized their data processing functions?

Which of the following captures the same idea as the term "GIGO" garbage in, garbage out)?

Which of these is a business reporting language often used in recording or transmitting accounting data?

Most AISs perform all of these functions except:

Which of the following best describes a data warehouse as discussed in Chapter 1?

Which of these is a certification that accountants can earn that focuses on forensic accounting?

As used in Chapter 1, a dashboard is an up-to-the-minute graphic depiction of one or more business activities.

Predictive analytics use large data warehouses to help organizations improve performance.

Which of these is a drawback of cloud computing?

Which of these terms is most closely associated with cloud computing?

Bernard Madoff is most closely associated with which of the following terms?

The acronym AIS stands for "Accounting Information Standards."

The starting point for an audit trail of a payroll system might be an employee time card.

Which of the following describes "cloud computing"?

The process by which a financial transaction is recorded so that its flow through the system can be followed is called:

Information Technology and Aiss

Data Modeling

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Documenting Accounting Information Systems

Accounting Information Systems and Business Processes: Part I

Accounting Information Systems and Business Processes: Part II

Introduction to Internal Control Systems

Computer Controls for Organizations and Accounting Information Systems

Computer Crime, Fraud, Ethics, and Privacy

Information Technology Auditing

Developing and Implementing Effective Accounting Information Systems

Accounting on the Internet

Accounting and Enterprise Software

Filters

Exam 1: Accounting Information Systems and the Accountant

An ABC inventory system refers to an "activity-based costing" system.

XBRL is a business reporting language that is used to define interactive financial data.

An advantage of cloud computing is that:

An example of a value-added reseller VAR)is a computer dealer that adds software to the hardware it sells.

In 2006, Bill 26 expanded FINTRAC's mandate so that:

What has been the effect on accountants in those organizations which have computerized their data processing functions?

Which of the following captures the same idea as the term "GIGO" garbage in, garbage out)?

Which of these is a business reporting language often used in recording or transmitting accounting data?

Most AISs perform all of these functions except:

Which of the following best describes a data warehouse as discussed in Chapter 1?

Which of these is a certification that accountants can earn that focuses on forensic accounting?

As used in Chapter 1, a dashboard is an up-to-the-minute graphic depiction of one or more business activities.

Predictive analytics use large data warehouses to help organizations improve performance.

Which of these is a drawback of cloud computing?

Which of these terms is most closely associated with cloud computing?

Bernard Madoff is most closely associated with which of the following terms?

The acronym AIS stands for "Accounting Information Standards."

The starting point for an audit trail of a payroll system might be an employee time card.

Which of the following describes "cloud computing"?

The process by which a financial transaction is recorded so that its flow through the system can be followed is called:

Information Technology and Aiss

Data Modeling

Organizing and Manipulating the Data in Databases

Database Forms and Reports

Documenting Accounting Information Systems

Accounting Information Systems and Business Processes: Part I

Accounting Information Systems and Business Processes: Part II

Introduction to Internal Control Systems

Computer Controls for Organizations and Accounting Information Systems

Computer Crime, Fraud, Ethics, and Privacy

Information Technology Auditing

Developing and Implementing Effective Accounting Information Systems

Accounting on the Internet

Accounting and Enterprise Software

Filters