ACCT 571 DeVry Complete Quiz Package

ACCT 571 DeVry Complete Quiz Package
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ACCT 571 DeVry Complete Quiz Package
ACCT571
ACCT 571 DeVry Week 1 Quiz
(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?
o
o
o
o
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
o
o
o
o
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?
o
o
o
o
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

o
o
o
o
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.
ACCT 571 DeVry Week 2 Quiz
(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
o
o
o
o
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?
o
o
o
o
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.
o
o
o
o
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.
o
o
o
o
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:
o
o
o
o
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:
ACCT 571 DeVry Week 3 Quiz
(TCO G) This creates logs of network traffic that was permitted to pass the firewall.
o
o
o
o
Intrusion detection system
Log analysis
Penetration test
Vulnerability scan
Question 2. Question : (TCO G) Multi-factor authentication
o
o
o
o
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
o
o
o
o
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?
o
o
o
o
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?
o
o
o
o
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?
ACCT 571 DeVry Week 4 Quiz

(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?
o
o
o
o
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.
o
o
o
o
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
o
o
o
o
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?
o
o
o
o
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?
o
o
o
o
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:
ACCT 571 DeVry Week 5 Quiz
(TCO E) A __________ authorizes the transfer of raw goods needed for production from the storeroom to the
production facilities.
o
master production schedule

o
o
o
materials requisition
move ticket
production order
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
o
o
o
o
increasing productive capacity.
increasing productive processing time.
increasing yield.
increasing all components of throughput.
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?
o
o
o
o
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
Question 4. Question : (TCO F) Concerning XBRL, which of the following statements is not true?
o
o
o
o
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.
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
o
o
o
o
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?
ACCT 571 DeVry Week 6 Quiz
(TCO F) An example of an agent is
o
o
o
o
customer
sales
cash
inventory
Question 2. Question : (TCO F) When implementing 1:1 and 1:N relationships

o
o
o
o
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
o
o
o
o
a cash account ledger.
a credit sales journal.
an accounts receivable ledger.
an accounts payable journal.
Question 4. Question : (TCO F) Supplier number is most likely to be a foreign key in:
o
o
o
o
Order Goods
Pay for Goods
Receive Goods
Warehouse
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.
o 0,1
o 0,N
o 1,N
o N,M
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.
ACCT 571 DeVry Week 7 Quiz
(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?
o
o
o
o
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
o
o
o
o
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
o
does not involve the documentation step.

o
o
o
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?
o
o
o
o
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
o
o
o
o
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?