Question 1

Under SOX legislation public accounting firms are no longer allowed to provide consulting services to audit clients.

Accepted Answer

A) True 
 B)False  True

Question 2

Which of the following is not a business resource?

Accepted Answer

A) raw material 
B) labor 
C) information 
D) all are business resources 
A) raw material 
B) labor 
C) information 
D) all are business resources D

Question 3

An example of a nonfinancial transaction is

Accepted Answer

A) sale of products 
B) cash disbursement 
C) log of customer calls 
D) purchase of inventory 
A) sale of products 
B) cash disbursement 
C) log of customer calls 
D) purchase of inventory C

Question 4

Information is a business resource.

Accepted Answer

A) True 
 B)False

Question 5

Sales of products to customers,purchases of inventory from vendors,and cash disbursements are all examples of __________________________.

Accepted Answer

financial

Question 6

IT professionals create custom software using

Accepted Answer

A) distributed data processing 
B) turnkey systems 
C) enterprise resource planning 
D) the system development life cycle 
A) distributed data processing 
B) turnkey systems 
C) enterprise resource planning 
D) the system development life cycle

Question 7

Which of the following is not a cloud computing service?

Accepted Answer

A) software as a service 
B) infrastructure as a service 
C) network as a service 
D) platform as a service 
A) software as a service 
B) infrastructure as a service 
C) network as a service 
D) platform as a service

Question 8

Database management tasks do not include

Accepted Answer

A) summarization 
B) storage 
C) retrieval 
D) deletion 
A) summarization 
B) storage 
C) retrieval 
D) deletion

Question 9

The term "accounting independence" refers to

Accepted Answer

A) data integrity 
B) separation of duties, such as record keeping and custody of physical resources 
C) generation of accurate and timely information 
D) business segmentation by function 
A) data integrity 
B) separation of duties, such as record keeping and custody of physical resources 
C) generation of accurate and timely information 
D) business segmentation by function

Question 10

How has SOX legislation impacted the consulting practices of public accounting firms?

Accepted Answer

Prior to SOX,a gray area of overlap exis

Question 11

What are the similarities and differences between external auditors and internal auditors?

Accepted Answer

The characteristic that conceptually dis

Question 12

Custom software is the most affordable systems development option.

Accepted Answer

A) True 
 B)False

Question 13

All of the following are external end users except

Accepted Answer

A) cost accountants 
B) creditors 
C) stockholders 
D) tax authorities 
A) cost accountants 
B) creditors 
C) stockholders 
D) tax authorities

Question 14

Why do auditors need to understand the organizational structure of the business?

Accepted Answer

The structure of an organization reflect

Question 15

Contrast the responsibilities of operations management,middle management,and top management.Explain the different information needs for each level of management.

Accepted Answer

Operations management is directly respon

Question 16

Sarbanes-Oxley legislation requires that management designs and implements controls over the entire financial reporting process.What systems does this include?

Accepted Answer

This includes the financial re

Question 17

What is discretionary reporting?

Accepted Answer

Reports used by management tha

Question 18

The __________________________ and __________________________ standards that characterize the accounting information system clearly distinguish it from the management information system.

Accepted Answer

The answer of The __________________________ and __________________________ standards that characterize...

Question 19

Why is it necessary to distinguish between accounting information systems (AIS)and management information systems (MIS)?

Accepted Answer

Because of the highly integrative nature

Question 20

An appraisal function housed within the organization that performs a wide range of services for management is

Accepted Answer

A) internal auditing 
B) data control group 
C) external auditing 
D) database administration 
A) internal auditing 
B) data control group 
C) external auditing 
D) database administration

Under SOX legislation public accounting firms are no longer allowed to provide consulting services to audit clients.

Which of the following is not a business resource?

An example of a nonfinancial transaction is

Information is a business resource.

Sales of products to customers,purchases of inventory from vendors,and cash disbursements are all examples of __________________________.

IT professionals create custom software using

Which of the following is not a cloud computing service?

Database management tasks do not include

The term "accounting independence" refers to

How has SOX legislation impacted the consulting practices of public accounting firms?

What are the similarities and differences between external auditors and internal auditors?

Custom software is the most affordable systems development option.

All of the following are external end users except

Why do auditors need to understand the organizational structure of the business?

Contrast the responsibilities of operations management,middle management,and top management.Explain the different information needs for each level of management.

Sarbanes-Oxley legislation requires that management designs and implements controls over the entire financial reporting process.What systems does this include?

What is discretionary reporting?

The and standards that characterize the accounting information system clearly distinguish it from the management information system.

Why is it necessary to distinguish between accounting information systems (AIS)and management information systems (MIS)?

An appraisal function housed within the organization that performs a wide range of services for management is

Introduction to Transaction Processing

Ethics,fraud,and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Auditing It Controls Part I: Sarbanes-Oxley and It Governance

Auditing It Controls Part II: Security and Access

Auditing It Controls Part III: Systems Development, program Changes, and Application Auditing

Filters

Exam 1: The Information System: an Accountants Perspective

Under SOX legislation public accounting firms are no longer allowed to provide consulting services to audit clients.

Which of the following is not a business resource?

An example of a nonfinancial transaction is

Information is a business resource.

Sales of products to customers,purchases of inventory from vendors,and cash disbursements are all examples of __________________________.

IT professionals create custom software using

Which of the following is not a cloud computing service?

Database management tasks do not include

The term "accounting independence" refers to

How has SOX legislation impacted the consulting practices of public accounting firms?

What are the similarities and differences between external auditors and internal auditors?

Custom software is the most affordable systems development option.

All of the following are external end users except

Why do auditors need to understand the organizational structure of the business?

Contrast the responsibilities of operations management,middle management,and top management.Explain the different information needs for each level of management.

Sarbanes-Oxley legislation requires that management designs and implements controls over the entire financial reporting process.What systems does this include?

What is discretionary reporting?

The __________________________ and __________________________ standards that characterize the accounting information system clearly distinguish it from the management information system.

Why is it necessary to distinguish between accounting information systems (AIS)and management information systems (MIS)?

An appraisal function housed within the organization that performs a wide range of services for management is

Introduction to Transaction Processing

Ethics,fraud,and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Auditing It Controls Part I: Sarbanes-Oxley and It Governance

Auditing It Controls Part II: Security and Access

Auditing It Controls Part III: Systems Development, program Changes, and Application Auditing

Filters

The and standards that characterize the accounting information system clearly distinguish it from the management information system.