Question 1

The text describes six internal control activities.List four of them and provide a specific example of each one.

Accepted Answer

None

Question 2

Para computer ethics is the exposure to stories and reports found in the popular media regarding the good or bad ramifications of computer technology.

Accepted Answer

A) True 
 B)False

Question 3

Skimming involves stealing cash from an organization after it is recorded on the organization's books and records

Accepted Answer

A) True 
 B)False

Question 4

Cash larceny involves

Accepted Answer

A)  stealing cash from an organization before it is recorded 
B)  stealing cash from an organization after it has been recorded 
C)  manufacturing false purchase orders,receiving reports,and invoices 
D)  A clerk pays a vendor twice for the same products and cashes the reimbursement check issued by the vendor. 
A)  stealing cash from an organization before it is recorded 
B)  stealing cash from an organization after it has been recorded 
C)  manufacturing false purchase orders,receiving reports,and invoices 
D)  A clerk pays a vendor twice for the same products and cashes the reimbursement check issued by the vendor.

Question 5

The text discusses many questions about personal traits of executives which might help uncover fraudulent activity.What are three?

Accepted Answer

executives: with high personal debt,livi

Question 6

The four principal types of fraud include all of the following except

Accepted Answer

A)  bribery 
B)  gratuities 
C)  conflict of interest 
D)  economic extortion 
A)  bribery 
B)  gratuities 
C)  conflict of interest 
D)  economic extortion

Question 7

Use the internal control procedures listed below to complete the statements.
 $\begin{array}{ll}
\text { segregation of duties } & \text { specific authorization } \
\text { general authorization } & \text { accounting records } \
\text { access controls } & \text { independent verification } \
\text { supervision } &
\end{array}$

-Approving a price reduction because goods are damaged is an example of __________________________.

Accepted Answer

specific a

Question 8

An accounting system that maintains an adequate audit trail is implementing which internal control procedure?

Accepted Answer

A)  access controls 
B) Segregation of functions 
C)  independent verification 
D)  accounting records 
A)  access controls 
B) Segregation of functions 
C)  independent verification 
D)  accounting records

Question 9

The decision to extend credit beyond the normal credit limit is an example of

Accepted Answer

A)  independent verification 
B)  authorization 
C)  segregation of functions 
D)  supervision 
A)  independent verification 
B)  authorization 
C)  segregation of functions 
D)  supervision

Question 10

The ethical principle of informed consent suggests that the decision should be implemented so as to minimize all of the risks and to avoid any unnecessary risks.

Accepted Answer

A) True 
 B)False

Question 11

The bank reconciliation uncovered a transposition error in the books.This is an example of a

Accepted Answer

A)  preventive control 
B)  detective control 
C)  corrective control 
D)  none of the above 
A)  preventive control 
B)  detective control 
C)  corrective control 
D)  none of the above

Question 12

Explain the shell company fraud.

Accepted Answer

A shell company fraud first requires tha

Question 13

The employee entered "40" in the "hours worked per day" field.Which check would detect this unintentional error?

Accepted Answer

A)  numeric/alphabetic data check 
B)  sign check 
C)  limit check 
D)  missing data check 
A)  numeric/alphabetic data check 
B)  sign check 
C)  limit check 
D)  missing data check

Question 14

Business ethics involves

Accepted Answer

A)  how managers decide on what is right in conducting business 
B)  how managers achieve what they decide is right for the business 
C)  both a and b 
D)  none of the above 
A)  how managers decide on what is right in conducting business 
B)  how managers achieve what they decide is right for the business 
C)  both a and b 
D)  none of the above

Question 15

Copyright laws and computer industry standards have been developed jointly and rarely conflict.

Accepted Answer

A) True 
 B)False

Question 16

Why are the computer ethics issues of privacy,security,and property ownership of interest to accountants?

Accepted Answer

Privacy is a concern because the nature

Question 17

Input controls include all of the following except

Accepted Answer

A)  check digits 
B)  Limit check. 
C)  spooling check 
D)  missing data check 
A)  check digits 
B)  Limit check. 
C)  spooling check 
D)  missing data check

Question 18

An inventory record indicates that 12 items of a specific product are on hand.A customer purchased two of the items,but when recording the order,the data entry clerk mistakenly entered 20 items sold.Which check could detect this error?

Accepted Answer

A)  numeric/alphabetic data checks 
B)  limit check 
C)  range check 
D)  reasonableness check 
A)  numeric/alphabetic data checks 
B)  limit check 
C)  range check 
D)  reasonableness check

Question 19

Management can expect various benefits to follow from implementing a system of strong internal control.Which of the following benefits is least likely to occur?

Accepted Answer

A)  reduced cost of an external audit. 
B)  prevents employee collusion to commit fraud. 
C)  availability of reliable data for decision-making purposes. 
D)  some assurance of compliance with the Foreign Corrupt Practices Act of 1977. 
E)  some assurance that important documents and records are protected. 
A)  reduced cost of an external audit. 
B)  prevents employee collusion to commit fraud. 
C)  availability of reliable data for decision-making purposes. 
D)  some assurance of compliance with the Foreign Corrupt Practices Act of 1977. 
E)  some assurance that important documents and records are protected.

Question 20

Skimming involves

Accepted Answer

A)  stealing cash from an organization before it is recorded 
B)  Stealing cash from an organization after it has been recorded 
C)  manufacturing false purchase orders,receiving reports,and invoices 
D)  A clerk pays a vendor twice for the same products and cashes the reimbursement check issued by the vendor. 
A)  stealing cash from an organization before it is recorded 
B)  Stealing cash from an organization after it has been recorded 
C)  manufacturing false purchase orders,receiving reports,and invoices 
D)  A clerk pays a vendor twice for the same products and cashes the reimbursement check issued by the vendor.

The text describes six internal control activities.List four of them and provide a specific example of each one.

Para computer ethics is the exposure to stories and reports found in the popular media regarding the good or bad ramifications of computer technology.

Skimming involves stealing cash from an organization after it is recorded on the organization's books and records

Cash larceny involves

The text discusses many questions about personal traits of executives which might help uncover fraudulent activity.What are three?

The four principal types of fraud include all of the following except

An accounting system that maintains an adequate audit trail is implementing which internal control procedure?

The decision to extend credit beyond the normal credit limit is an example of

The ethical principle of informed consent suggests that the decision should be implemented so as to minimize all of the risks and to avoid any unnecessary risks.

The bank reconciliation uncovered a transposition error in the books.This is an example of a

Explain the shell company fraud.

The employee entered "40" in the "hours worked per day" field.Which check would detect this unintentional error?

Business ethics involves

Copyright laws and computer industry standards have been developed jointly and rarely conflict.

Why are the computer ethics issues of privacy,security,and property ownership of interest to accountants?

Input controls include all of the following except

An inventory record indicates that 12 items of a specific product are on hand.A customer purchased two of the items,but when recording the order,the data entry clerk mistakenly entered 20 items sold.Which check could detect this error?

Management can expect various benefits to follow from implementing a system of strong internal control.Which of the following benefits is least likely to occur?

Skimming involves

The Information System: an Accountants Perspective

Introduction to Transaction Processing

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

General Ledger,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

Construct,deliver,and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, program Changes, and Application Controls

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Exam 3: Ethics,fraud,and Internal Control

The text describes six internal control activities.List four of them and provide a specific example of each one.

Para computer ethics is the exposure to stories and reports found in the popular media regarding the good or bad ramifications of computer technology.

Skimming involves stealing cash from an organization after it is recorded on the organization's books and records

Cash larceny involves

The text discusses many questions about personal traits of executives which might help uncover fraudulent activity.What are three?

The four principal types of fraud include all of the following except

An accounting system that maintains an adequate audit trail is implementing which internal control procedure?

The decision to extend credit beyond the normal credit limit is an example of

The ethical principle of informed consent suggests that the decision should be implemented so as to minimize all of the risks and to avoid any unnecessary risks.

The bank reconciliation uncovered a transposition error in the books.This is an example of a

Explain the shell company fraud.

The employee entered "40" in the "hours worked per day" field.Which check would detect this unintentional error?

Business ethics involves

Copyright laws and computer industry standards have been developed jointly and rarely conflict.

Why are the computer ethics issues of privacy,security,and property ownership of interest to accountants?

Input controls include all of the following except

An inventory record indicates that 12 items of a specific product are on hand.A customer purchased two of the items,but when recording the order,the data entry clerk mistakenly entered 20 items sold.Which check could detect this error?

Management can expect various benefits to follow from implementing a system of strong internal control.Which of the following benefits is least likely to occur?

Skimming involves

The Information System: an Accountants Perspective

Introduction to Transaction Processing

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

General Ledger,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

Construct,deliver,and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, program Changes, and Application Controls

Filters