Question 1

SOX requires:

Accepted Answer

A)  public companies to report all off-balance sheet transactions 
B)  management to accept responsibility for maintaining adequate internal controls 
C)  Officers to certify that company accounts fairly present the results of operations 
D)  all of the above. 
A)  public companies to report all off-balance sheet transactions 
B)  management to accept responsibility for maintaining adequate internal controls 
C)  Officers to certify that company accounts fairly present the results of operations 
D)  all of the above.

Question 2

Explain the purpose of the PCAOB.

Accepted Answer

The Sarbanes-Oxley Act creates a Public

Question 3

Computer programs are intellectual property.

Accepted Answer

A) True 
 B)False

Question 4

Which ethical principle states that the benefit from a decision must outweigh the risks, and that there is no alternative decision that provides the same or greater benefit with less risk?

Accepted Answer

A)  minimize risk 
B)  justice 
C)  informed consent 
D)  proportionality 
A)  minimize risk 
B)  justice 
C)  informed consent 
D)  proportionality

Question 5

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

Accepted Answer

specific a

Question 6

Explain why collusion between employees and management in the commission of a fraud is difficult to both prevent and detect.

Accepted Answer

Collusion among employees in the commiss

Question 7

Employees should be made aware of the firm's commitment to ethics.

Accepted Answer

A) True 
 B)False

Question 8

Misappropriation of assets can involve various schemes: expense reimbursement fraud, lapping, and payroll fraud. Explain each and give an example.

Accepted Answer

Expense reimbursement fraud involve fict

Question 9

Business ethics is the analysis of the nature and social impact of computer technology, and the corresponding formulation and justification of policies for the ethical use of such technology.

Accepted Answer

A) True 
 B)False

Question 10

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 11

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 12

What are the main issues to be addressed in a business code of ethics required by the SEC?

Accepted Answer

Conflicts of interest, Full an

Question 13

Four principal types of corruption are discussed. Name all four and explain at least two.

Accepted Answer

Corruption involves an executive, manage

Question 14

Using cameras to monitor the activities of cashiers is an example of __________________________.

Accepted Answer

The answer of Using cameras to monitor the activities of...

Question 15

Distinguish between skimming and cash larceny. Give an example of each

Accepted Answer

Skimming involves stealing cash from an

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

Methods used to maintain an audit trail in a computerized environment include all of the following except

Accepted Answer

A)  transaction logs 
B)  transaction listings 
C)  data encryption 
D)  log of automatic transactions 
A)  transaction logs 
B)  transaction listings 
C)  data encryption 
D)  log of automatic transactions

Question 18

According to the Association of Certified Fraud Examiners (ACFE) study, most frauds are committed by employees in management positions.

Accepted Answer

A) True 
 B)False

Question 19

A shell company fraud 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)  s 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)  s clerk pays a vendor twice for the same products and cashes the reimbursement check issued by the vendor

Question 20

How does privacy relate to output control?

Accepted Answer

If the privacy of certain type

SOX requires:

Explain the purpose of the PCAOB.

Computer programs are intellectual property.

Which ethical principle states that the benefit from a decision must outweigh the risks, and that there is no alternative decision that provides the same or greater benefit with less risk?

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

Explain why collusion between employees and management in the commission of a fraud is difficult to both prevent and detect.

Employees should be made aware of the firm's commitment to ethics.

Misappropriation of assets can involve various schemes: expense reimbursement fraud, lapping, and payroll fraud. Explain each and give an example.

Business ethics is the analysis of the nature and social impact of computer technology, and the corresponding formulation and justification of policies for the ethical use of such technology.

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

Business ethics involves

What are the main issues to be addressed in a business code of ethics required by the SEC?

Four principal types of corruption are discussed. Name all four and explain at least two.

Using cameras to monitor the activities of cashiers is an example of __________________________.

Distinguish between skimming and cash larceny. Give an example of each

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

Methods used to maintain an audit trail in a computerized environment include all of the following except

According to the Association of Certified Fraud Examiners (ACFE) study, most frauds are committed by employees in management positions.

A shell company fraud involves

How does privacy relate to output control?

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

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

SOX requires:

Explain the purpose of the PCAOB.

Computer programs are intellectual property.

Which ethical principle states that the benefit from a decision must outweigh the risks, and that there is no alternative decision that provides the same or greater benefit with less risk?

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

Explain why collusion between employees and management in the commission of a fraud is difficult to both prevent and detect.

Employees should be made aware of the firm's commitment to ethics.

Misappropriation of assets can involve various schemes: expense reimbursement fraud, lapping, and payroll fraud. Explain each and give an example.

Business ethics is the analysis of the nature and social impact of computer technology, and the corresponding formulation and justification of policies for the ethical use of such technology.

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

Business ethics involves

What are the main issues to be addressed in a business code of ethics required by the SEC?

Four principal types of corruption are discussed. Name all four and explain at least two.

Using cameras to monitor the activities of cashiers is an example of __________________________.

Distinguish between skimming and cash larceny. Give an example of each

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

Methods used to maintain an audit trail in a computerized environment include all of the following except

According to the Association of Certified Fraud Examiners (ACFE) study, most frauds are committed by employees in management positions.

A shell company fraud involves

How does privacy relate to output control?

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

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