Finance

Q: When it comes to losses from fraud, a. the highest losses are from employees under 40 years of age b. women tend to commit more frauds then men. c. higher education levels mean higher losses from fraud d. all of the above

Q: Sarbanes-Oxley (SOX) a. imposes new corporate disclosure requirements b. imposes new criminal penalties for fraud c. both a. and b. d. none of the above

Q: Computer fraud can take on many forms, including each of the following except a. theft or illegal use of computer-readable information b. theft, misuse, or misappropriation of computer equipment c. theft, misuse, or misappropriation of assets by altering computer-readable records and files d. theft, misuse, or misappropriation of printer supplies

Q: Operations fraud includes a. altering program logic to cause the application to process data incorrectly b. misusing the firm's computer resources c. destroying or corrupting a program's logic using a computer virus d. creating illegal programs that can access data files to alter, delete, or insert values

Q: Which of the following is not an issue to be addressed in a business code of ethics required by the SEC? a. Conflicts of interest b. Full and Fair Disclosures c. Legal Compliance d. Internal Reporting of Code Violations e. All of the above are issues to be addressed

Q: The four principal types of fraud include all of the following except a. bribery b. gratuities c. conflict of interest d. economic extortion

Q: All of the following are conditions for fraud except a. false representation b. injury or loss c. intent d. material reliance

Q: Business ethics involves 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

Q: When certain customers made cash payments to reduce their accounts receivable, the bookkeeper embezzled the cash and wrote off the accounts as uncollectible. Which control procedure would most likely prevent this irregularity? a. segregation of duties b. accounting records c. accounting system d. access controls

Q: A shell company fraud involves 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 paying a vendor twice for the same products and cashing the reimbursement check issued by the vendor.

Q: What fraud scheme is similar to the "borrowing from Peter to pay Paul" scheme? a. expense account fraud b. kiting c. lapping d. transaction fraud

Q: Employee fraud involves three steps. Of the following, which is not involved? a. concealing the crime to avoid detection b. stealing something of value c. misstating financial statements d. converting the asset to a usable form

Q: Cash larceny involves 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 paying a vendor twice for the same products and cashing the reimbursement check issued by the vendor.

Q: In balancing the risks and benefits that are part of every ethical decision, managers receive guidance from each of the following except a. justice b. self interest c. risk minimization d. proportionality

Q: Which of the following controls would best prevent the lapping of accounts receivable? a. Segregate duties so that the clerk responsible for recording in the accounts receivable subsidiary ledger has no access to the general ledger. b. Request that customers review their monthly statements and report any unrecorded cash payments. c. Require customers to send payments directly to the company's bank. d. Request that customers make the check payable to the company.

Q: Skimming involves 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.

Q: Which of the following best describes lapping? a. applying cash receipts to a different customer's account in an attempt to conceal previous thefts of funds b. inflating bank balances by transferring money among different bank accounts c. expensing an asset that has been stolen d. creating a false transaction

Q: Forces which may permit fraud to occur do not include a. a gambling addiction b. lack of segregation of duties c. centralized decision making environment d. questionable integrity of employees

Q: One characteristic of employee fraud is that the fraud a. is perpetrated at a level to which internal controls do not apply b. involves misstating financial statements c. involves the direct conversion of cash or other assets to the employee's personal benefit d. involves misappropriating assets in a series of complex transactions involving third parties

Q: For an action to be called fraudulent, all of the following conditions are required except a. poor judgment b. false representation c. intent to deceive d. injury or loss

Q: Which characteristic is not associated with software as intellectual property? a. uniqueness of the product b. possibility of exact replication c. automated monitoring to detect intruders d. ease of dissemination

Q: All of the following are factors in the fraud triangle except a. Ethical behavior of an individual b. Pressure exerted on an individual at home and job related c. Materiality of the assets d. Opportunity to gain access to assets

Q: Individuals who acquire some level of skill and knowledge in the field of computer ethics are involved in which level of computer ethics? a. para computer ethics b. pop computer ethics c. theoretical computer ethics d. practical computer ethics

Q: 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? a. minimize risk b. justice c. informed consent d. proportionality

Q: The objective of SAS 99 is to seamlessly blend the auditor's consideration of fraud into all phases of the audit process.

Q: Scavenging is a form of fraud in which the perpetrator uses a computer program to search for key terms in a database and then steal the data.

Q: Changing the Hours Worked field in an otherwise legitimate payroll transaction to increase the amount of the paycheck is an example of data collection fraud.

Q: The most common access point for perpetrating computer fraud is at the data collection stage.

Q: Skimminginvolves stealing cash from an organization after it is recorded on the organization's books and records

Q: Cash larceny involves stealing cash from an organization before it is recorded on the organization's books and records.

Q: Opportunity involves direct access to assets and/or access to information that controls assets.

Q: Situational pressure includes personal or job related stresses that could coerce an individual to act dishonestly.

Q: The fraud triangle represents a geographic area in Southeast Asia where international fraud is prevalent.

Q: Database management fraud includes altering, updating, and deleting an organization's data.

Q: Collusion among employees in the commission of a fraud is difficult to prevent but easy to detect.

Q: Internal control systems are recommended but not required to prevent fraud.

Q: Ethical issues and legal issues are essentially the same.

Q: Of the three fraud factors (situational pressure, ethics, and opportunity), situational pressure is the factor that actually facilitates the act.

Q: The trend toward distributed data processing increases the exposure to fraud from remote locations.

Q: Defalcation is another word for financial fraud.

Q: Business bankruptcy cases always involve fraudulent behavior.

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

Q: Computer programs are intellectual property.

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

Q: 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.

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

Q: Computers can be misused in many ways.

Q: The ethical principle of justice asserts that the benefits of the decision should be distributed fairly to those who share the risks.

Q: Data cleansing involves all of the following except a. filtering out or repairing invalid data b. summarizing data for ease of extraction c. transforming data into standard business terms d. formatting data from legacy systems

Q: Extracting data for a data warehouse a. cannot be done from flat files. b. should only involve active files. c. requires that the files be out of service. d. follows the cleansing of data.

Q: The setup of a data warehouse includes a. modeling the data b. extracting data from operational databases c. cleansing the data d. all of the above

Q: Supply chain management software a. is typically under the control of external partners in the chain. b. links all of the partners in the chain, including vendors, carriers, third-party firms, and information systems providers. c. cannot be integrated into an overall ERP. d. none of the above

Q: On-line transaction processing programs a. are bolt-on programs used with commercially available ERSs. b. are available in two models"two-tier and three-tier. c. handle large numbers of relatively simple transactions. d. allow users to analyze complex data relationships.

Q: Most ERPs are based on which network model? a. peer to peer b. client-server c. ring topology d. bus topology

Q: A data mart is a. another name for a data warehouse. b. a database that provides data to an organization's customers. c. an enterprise resource planning system. d. a data warehouse created for a single function or department.

Q: Legacy systems are a. old manual systems that are still in place. b. flat file mainframe systems developed before client-server computing became standard. c. stable database systems after debugging. d. advanced systems without a data warehouse.

Q: Which statement is true? a. ERPs are infinitely scalable. b. Performance problems usually stem from technical problems, not business process reengineering. c. The better ERP can handle any problems an organization can have. d. ERP systems can be modified using bolt-on software.

Q: Which statement about ERP installation is least accurate? a. For the ERP to be successful, process reengineering must occur. b. ERP fails because some important business process is not supported. c. When a business is diversified, little is gained from ERP installation. d. The phased-in approach is more suited to diversified businesses.

Q: Which statements about data warehousing is not correct? a. The data warehouse should be separate from the operational system. b. Data cleansing is a process of transforming data into standard form. c. Drill-down is a data-mining tool available to users of OLAP. d. Normalization is an requirement of databases included in a data warehouse.

Q: Which of the following statements is not true? a. In a typical two-tier client server system, the server handles both application and database duties. b. Client computers are responsible for presenting data to the user and passing user input back to the server. c. In three-tier client server architecture, one tier is for user presentations, one is for database and applications, and the third is for Internet access. d. The database and application functions are separate in the three-tier model.

Q: Which of the following statements is least likely to be true about a data warehouse? a. It is constructed for quick searching and ad hoc queries. b. It was an original part of all ERP systems. c. It contains data that are normally extracted periodically from the operating databases. d. It may be deployed by organizations that have not implemented an ERP.

Q: Which of the following is usually not part of an ERP's OLAP applications? a. logistics b. decision support systems c. ad hoc analysis d. what-if analysis

Q: Which of the following is usually not part of an ERP's core applications? a. OLTP applications b. sales and distribution applications c. business planning applications d. OLAP applications

Q: Data warehousing processes does not include a. modeling data b. condensing data c. extracting data d. transforming data

Q: Core applications are a. sales and distribution b. business planning c. shop floor control and logistics d. all of the above

Q: Goals of ERP include all of the following except a. improved customer service b. improvements of legacy systems c. reduced production time d. increased production

Q: The implementation of an ERP creates an environment with a single point of failure, which places the organization at risk.

Q: A problem with RBAC is that managers tend to create unnecessary roles

Q: RBAC assigns access permissions to the role an individual plays in the organization rather than directly to the individual.

Q: An access control list specifies the user-ID, the resources available to the user, and the level of permission granted.

Q: The role model assigns specific access privileges directly to individuals.

Q: In spite of the high technology employed in ERP systems, critical business controls such as a three way match always performed manually.

Q: Organizations using ERP systems employ an internal control tool called a role.

Q: Data cleansing is a step performed by external auditors to identify and repairing invalid data prior to the audit.

Q: In a two-tier architecture approach is used primarily for wide area network (WAN) applications.

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