Final Exam Review

Which business process controls this document? ACCOUNTS PAYABLE DISBURSEMENT CHECK

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

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

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

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

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

What type of account is COST OF GOODS SOLD?

Access controls place limits on...

Which business process controls this document? DEPOSIT SLIP

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

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

What type of account is FINISHED GOODS INVENTORY?

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

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

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

What type of account is PREPAID EXPENSES?

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

WHO does blockchain technology eliminate in a digital transaction?

The first generation of blockchain technology is called BITCOIN.

What type of account is ACCOUNTS PAYABLE?

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

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

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

Application controls place limits on...

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

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

What was Congress' primary purpose for enacting SOX?

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

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

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

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

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

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

What type of account is ACCOUNTS PAYABLE?

What is the formula to calculate PAYBACK PERIOD?

What type of account is MANUFACTURING OVERHEAD?

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

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

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

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

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

Which business process controls this document? BILL OF MATERIALS

Which business process controls this document? CUSTOMER PAYMENT

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

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

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

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

What does the control activity named Dual Control mean?

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

What type of account is DIVIDENDS?

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

Which business process controls this document? PURCHASE REQUISITION

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

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

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

Which business process controls this document? CUSTOMER ORDER

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

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

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

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

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

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

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

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

What type of account is DEFERRED REVENUE?