Question 1

Many aspects of computer processing tend to significantly

Accepted Answer

A)  decrease an organization's exposure to undesirable events. 
B)  strengthen the corporate culture's ethical behavior in the long-term analysis. 
C)  increase employee productivity through the use of monitoring software. 
D)  increase an organization's exposure to undesirable events. 
A)  decrease an organization's exposure to undesirable events. 
B)  strengthen the corporate culture's ethical behavior in the long-term analysis. 
C)  increase employee productivity through the use of monitoring software. 
D)  increase an organization's exposure to undesirable events.

Question 2

Employees can check and verify the operations of other employees when the employees are forced to take a(n)________.

Accepted Answer

The answer of Employees can check and verify the operations...

Question 3

A clerk accidentally posts a prenumbered sales invoice of $625 as $265 to a customer's account.What control would detect this error?

Accepted Answer

A)  A hash total of the invoice numbers 
B)  A sequence check of the numbers of the invoices which are to be posted 
C)  A document count of the invoices 
D)  A control total of the amounts to be posted 
A)  A hash total of the invoice numbers 
B)  A sequence check of the numbers of the invoices which are to be posted 
C)  A document count of the invoices 
D)  A control total of the amounts to be posted

Question 4

The internal control premise that concerns the relative costs and benefits of controls is known as

Accepted Answer

A)  responsibility. 
B)  risk. 
C)  reasonable assurance. 
D)  exposure. 
A)  responsibility. 
B)  risk. 
C)  reasonable assurance. 
D)  exposure.

Question 5

A structured form of analysis relevant to internal control reviews is an applications control matrix.

Accepted Answer

A) True 
 B)False

Question 6

Match between columns
                        Premises:  Check digit
 Upstream resubmission
 Exposure
 Control register
 Hash total
 Internal control questionnaire
 Physical controls
 Preventive controls
 Run-to-run totals
 General controls

Accepted Answer

The Answer of These affect all transaction processing and An is...

Question 7

COSO's next report to be published will pertain to the monitoring of internal control systems in order to keep them current and effective.

Accepted Answer

A) True 
 B)False

Question 8

The chief goal of an information system is productivity.

Accepted Answer

A) True 
 B)False

Question 9

Typically,an organization's internal control process consists of five components.

Accepted Answer

A) True 
 B)False

Question 10

Someone who has personally observed the activities under review should complete an internal control questionnaire.

Accepted Answer

A) True 
 B)False

Question 11

The concept of internal control is based on ________ major premises: ________ and reasonable ________.

Accepted Answer

two; respo

Question 12

Discuss three behavioral issues that should be considered when implementing an internal control plan.

Accepted Answer

Students may mention:
• Internal contr

Question 13

Match between columns
                        Premises:  Backup and recovery
 Check digit
 Batch balancing
 Format check
 Suspense file
 Hash total
 Password
 Turnaround document
 Forms design
 Reasonableness test

Accepted Answer

The Answer of This helps control input accuracy by ensuring is...

Question 14

Detective controls are not considered transaction processing controls,but rather internal audit controls.

Accepted Answer

A) True 
 B)False

Question 15

Businesses without an IT department or IT expertise can rely on outside ________ ________ ________ for their accounting,software and IT needs.

Accepted Answer

applicatio

Question 16

The Sarbanes-Oxley Act of 2002 explicitly deals with the non-audit services which auditors can provide to their audit clients.Certain non-audit services may be permissible,without prior approval of a company's audit committee,if the non-audit services

Accepted Answer

A)  constitute less than 5% of the audit fees for the corporation. 
B)  constitute less than 5% of the audit fees for the corporation and are not specifically identified as being barred by SOA 2002. 
C)  constitute less than 20% of the audit fees for the corporation. 
D)  Auditors are barred from any and all non-audit services for their audit clients according to SOA 2002. 
A)  constitute less than 5% of the audit fees for the corporation. 
B)  constitute less than 5% of the audit fees for the corporation and are not specifically identified as being barred by SOA 2002. 
C)  constitute less than 20% of the audit fees for the corporation. 
D)  Auditors are barred from any and all non-audit services for their audit clients according to SOA 2002.

Question 17

________ tend to reduce ________,but they rarely affect the causes.

Accepted Answer

The answer of ________ tend to reduce ________,but they rarely...

Question 18

Listed below are various controls found in a system of internal control.
Required: Label each of the following controls as preventive (P),detective (D),or corrective (C).
________ 1.Transaction trail
________ 2.Rotation of duties
________ 3.Reconciliation
________ 4.Visual verification
________ 5.Batch controls
________ 6.Endorsement
________ 7.Redundant processing
________ 8.Training of Personnel
________ 9.Batch balancing
________ 10.Automatic error correction

Accepted Answer

1.C,2.P,3.

Question 19

Organizational structure is part of which component of internal control?

Accepted Answer

A)  Control activities 
B)  Control environment 
C)  Information and communication 
D)  Monitoring 
A)  Control activities 
B)  Control environment 
C)  Information and communication 
D)  Monitoring

Question 20

Financial accounting is concerned with the prevention and detection of fraud and white-collar crime.

Accepted Answer

A) True 
 B)False

Many aspects of computer processing tend to significantly

Employees can check and verify the operations of other employees when the employees are forced to take a(n)________.

A clerk accidentally posts a prenumbered sales invoice of $625 as $265 to a customer's account.What control would detect this error?

The internal control premise that concerns the relative costs and benefits of controls is known as

A structured form of analysis relevant to internal control reviews is an applications control matrix.

COSO's next report to be published will pertain to the monitoring of internal control systems in order to keep them current and effective.

The chief goal of an information system is productivity.

Typically,an organization's internal control process consists of five components.

Someone who has personally observed the activities under review should complete an internal control questionnaire.

The concept of internal control is based on major premises: and reasonable .

Discuss three behavioral issues that should be considered when implementing an internal control plan.

Detective controls are not considered transaction processing controls,but rather internal audit controls.

Businesses without an IT department or IT expertise can rely on outside for their accounting,software and IT needs.

The Sarbanes-Oxley Act of 2002 explicitly deals with the non-audit services which auditors can provide to their audit clients.Certain non-audit services may be permissible,without prior approval of a company's audit committee,if the non-audit services

tend to reduce ,but they rarely affect the causes.

Organizational structure is part of which component of internal control?

Financial accounting is concerned with the prevention and detection of fraud and white-collar crime.

Accounting Information Systems: An Overview

Systems Techniques and Documentation

Ebusiness and Ecommerce

Fraud Examination and Fraud Management

Information Systems Security

Electronic Data Processing Systems

Revenue Cycle Processes

Procurement and Human Resources Business Processes

The Production Business Process

Systems Planning, analysis, and Design

Systems Project Management, implementation, operation, control

Data Management Concepts

Auditing Information Technology

Filters

Exam 4: Transaction Processing and the Internal Control Process

Many aspects of computer processing tend to significantly

Employees can check and verify the operations of other employees when the employees are forced to take a(n)________.

A clerk accidentally posts a prenumbered sales invoice of $625 as $265 to a customer's account.What control would detect this error?

The internal control premise that concerns the relative costs and benefits of controls is known as

A structured form of analysis relevant to internal control reviews is an applications control matrix.

COSO's next report to be published will pertain to the monitoring of internal control systems in order to keep them current and effective.

The chief goal of an information system is productivity.

Typically,an organization's internal control process consists of five components.

Someone who has personally observed the activities under review should complete an internal control questionnaire.

The concept of internal control is based on ________ major premises: ________ and reasonable ________.

Discuss three behavioral issues that should be considered when implementing an internal control plan.

Detective controls are not considered transaction processing controls,but rather internal audit controls.

Businesses without an IT department or IT expertise can rely on outside ________ ________ ________ for their accounting,software and IT needs.

The Sarbanes-Oxley Act of 2002 explicitly deals with the non-audit services which auditors can provide to their audit clients.Certain non-audit services may be permissible,without prior approval of a company's audit committee,if the non-audit services

________ tend to reduce ________,but they rarely affect the causes.

Organizational structure is part of which component of internal control?

Financial accounting is concerned with the prevention and detection of fraud and white-collar crime.

Accounting Information Systems: An Overview

Systems Techniques and Documentation

Ebusiness and Ecommerce

Fraud Examination and Fraud Management

Information Systems Security

Electronic Data Processing Systems

Revenue Cycle Processes

Procurement and Human Resources Business Processes

The Production Business Process

Systems Planning, analysis, and Design

Systems Project Management, implementation, operation, control

Data Management Concepts

Auditing Information Technology

Filters

The concept of internal control is based on major premises: and reasonable .

Businesses without an IT department or IT expertise can rely on outside for their accounting,software and IT needs.

tend to reduce ,but they rarely affect the causes.