Final Exam Review

Which of the following is the main repository of a company's historical data?

Which of the following DID the Sarbanes-Oxley Act of 2022 make essential (a requirement)?

The Big Data characteristic that considers the sheer AMOUNT of the data is VOLUME.

The most important software in a company's system is the Virtual Private Network (VPN) software.

Which business process controls this document? ACCOUNTS PAYABLE DISBURSEMENT CHECK

Which consensus algorithm means only the nodes that put a cryptocurrency deposit down are permitted to create blocks.

An information system in its simplest form can be broken down into what four categories of activities?

Which business process would you expect to see this JE entered? Record applied overhead.

Which of the following risks is the risk that errors or fraud will NOT be prevented or detected by existing controls?

When implementing an IT project, what can management expect to happen to company performance in the SHORT TERM?

Which business process would you expect to see this JE entered? Record receipt of customer payment.

Which business process controls this document? PURCHASE REQUISITION

Big Data is generally defined as data that is too LARGE and too COMPLEX for who's system to handle?

The Big Data characteristic that considers the FORM of the data is VARIETY.

NET Present Value is calculated by subtracting present value of cash outflows from ....

What type of account is ACCOUNTS PAYABLE?

The elements that exist in a fraud are depicted in the Fraud DIAMOND. Which does management have the most control over?

A foreign key is an attribute that allows classes in a relational database to be linked together.

Blockchain technology works based on the concept of a "smart ledger". What is a smart ledger?

Which answer best describes the advantage(s) to computing in the cloud?

The Big Data characteristic that considers the SPEED of the data is VELOCITY.

Which business process would you expect to see this JE entered? Record accounts receivable.

Which business process controls this document? BILL OF MATERIALS

Which business process would you expect to see this JE entered? Record payment of supplier invoices.

There are three types of consesus algorithms on blockchain: Proof of WORK, Proof of AUTHORITY, Proof of STAKE

Which business process controls this document? BILL OF LADING FOR OUTGOING SHIPMENTS

Which TYPE of blockchain requires permission to join the network, also known as "enterprise blockchain".

What type of account is DIVIDENDS?

This method of quantifying expected benefits uses software to recalculate the financial statements under each assumption

The three TYPES of blockchain are Public, Private, Consortium.

Which business process would you expect to see this JE entered? Record purchases of inventory.

What type of account is COST OF GOODS SOLD?

The second generation of blockchain technology, which incorporates smart contracts, is called ETHEREUM.

Which business process controls this document? CUSTOMER PAYMENT

Which of the following controls would BEST mitigate the risk of purchasing raw materials from unauthorized suppliers?

What type of account is FINISHED GOODS INVENTORY?

Which business process would you expect to see this JE entered? Record revenue earned.

Which one of the following capital budgeting metrics IGNORES the time value of money?

What type of account is ACCOUNTS PAYABLE?

Which of the following is an example of business PROCESS documentation.

Application controls place limits on...

What type of account is DEFERRED REVENUE?

What does the control activity named Dual Control mean?

Which consensus algorithm means all nodes create & validate blocks on the blockchain, requiring the most computing power

Last Question: A DATA MODEL is simply a written document that describes how data relates to each other within the AIS.

The Sarbanes-Oxley Act of 2022 made financial statement audits essential (a requirement) for publicly-held businesses.

What is the name of the org. that has responsibility to develop a framework on risk assessment and internal control?

Which business process would you expect to see this JE entered? Record transfer of raw material to work in process inv.

What type of account is PREPAID EXPENSES?

The name of the control that prohibits the same employee from performing recordkeeping and authorization duties is...

WHO does blockchain technology eliminate in a digital transaction?

The first generation of blockchain technology is called BITCOIN.

What was Congress' primary purpose for enacting SOX?

What type of account is MANUFACTURING OVERHEAD?

Which of the following risks is related to the nature of the activity, and exists before management takes action?

Which business process controls this document? DEPOSIT SLIP

Which control BEST reduces the risk of unauthorized disclosure of sensitive payroll information?

What is the formula to calculate PAYBACK PERIOD?

Access controls place limits on...

The CIA approach should be used to create an effective info. security management system. What does the C stand for?

Which business process controls this document? CUSTOMER ORDER

Which of the following should internal and external auditors of companies that use blockchain focus on understanding?

If ideal segregation of duties is not economically feasible, which is the BEST response to address the increased risk?

A standard language for internet communication of info. designed to allow businesses and the govt to communicate is...

A primary key is an attribute or combination of attributes that uniquely identifies each record within a class.