1. Which of these businesses is not required to report suspicious activities under current federal laws?

1. Which of these businesses is not required to report suspicious activities under current federal laws? (Points : 2) BanksMoney service organizationsCommodity TradersMutual fund dealersRace tracks2. What has been the effect on accountants in those organizations which have computerized their data processing functions? (Points : 2) The need for accountants has disappeared.The accountants have become “pure” bookkeepers.The accountants have become involved in more decision making activities.The accountants’ decision making activities have drastically declined.3. The special cards that users can store in their cars to gain access to parking lots and breeze through collection booths on toll roads are examples of: (Points : 2) RFID systems.NFC systems.POS systems.MICR systems.4. The principal cause for more timely performance reports in the typical modern organization due to: (Points : 2) better educated management.adoption of progressive management philosophies which stress participative management (e.g., MBO).information processing systems.need for less information.5. The term “EDRM” is mostly-closely associated with: (Points : 2) records management.points-of-sale processing.banking.electronic data recording and merchandising.6. Which of the following is the most important reason to use POS systems, OCR systems, or MICR systems? (Points : 2) To use the latest information technologyTo avoid data transcriptionTo create an extra layer of IT infrastructureTo decrease dependency on foreign oil7. An example of an assurance service for a company engaged in electronic commerce is: (Points : 2) XBRLTrust USCITPCPA Trust Services8. What is the first step to be performed by most organizations in their accounting cycles? (Points : 2) Recording business transactions in a journalPreparing a trial balanceRecording closing entries in a journalPreparing transaction source documentsNone of the above9. Which of the following best describes assurance services? (Points : 2) Auditors are desperate to offer assurance services so that they will still have business in the future.Assurance and auditing are closely related.Assurance is a guarantee that there is no fraud in a company.Assurance services usually require expertise in information technology.10. Which of these is a certification that accountants can earn that focuses on proficiency in information technology? (Points : 2) CPACMACISACITP11. The term “enrollment” is most closely associated with which of the following? (Points : 4) ABA systemBiometric systemPOS systemJoystickPDA12. For performance reports to achieve their control objectives, they must: (Points : 4) include relevant information so that necessary action may be taken to accomplish organizational goals.be timely so that minimal time elapses between an activity’s occurrence and the feedback reflecting the activity’s efficient or inefficient performance.provide subsystem managers with suggestions as to how they can operate their subsystems more efficiently.all of the above.a and b only.13. Which of the following is not true regarding professional service firms? (Points : 4) The SEC is in favor of professional service firms expanding their businesses to include consulting services.As a result of the corporate bankruptcies and accounting scandals in 2002, professional service firms no longer perform any consulting services.Professional service firms generally offer a variety of assurance services, including providing assurance over AISs.In the early 2000’s, many large professional service firms sold off the majority of their consulting practices.14. An example of an RFID system with a very limited range (less than 8 inches) is: (Points : 4) LAN system.NFC system.WAN system.MICR system.15. The P in the acronym KPI stands for: (Points : 4) processing.performance.planning.personnel.none of these.16. Data flow diagrams: (Points : 2) accomplish the same purpose as system flowcharts.are different from system flowcharts since they focus on a logical view of the information system.are useless for planning a new system.are never used in analyzing an existing system.17. Program flowcharts and decision tables are used primarily by systems analysts and programmers. (Points : 2) True False 18. Document flowcharts are mainly an educational aid and are seldom used in the business world. (Points : 2) TrueFalse19. Good documentation when creating spreadsheets is to include the name of the original developer and important assumptions made in the model. (Points : 2) True False 20. Documentation includes everything except narrative descriptions. (Points : 2) True False 21. The keying operation that transfers payroll change requests directly to floppy disk is called an off line job entry system. (Points : 2) TrueFalse22. The direction of information flow in a document flowchart is represented by arrows. (Points : 2) True False 23. Like system flowcharts, data flow diagrams have levels which show varying amounts of detail. (Points : 2) True False 24. A reader of a document flowchart is able to distinguish between the preparation of a document in one department and its receipt in another department by: (Points : 2) logic.arrows.column.narratives.25. A system flowchart is a block diagram that: (Points : 2) is used only by auditors.is used primarily when document flowcharts cannot be used.depicts the flow of computer systems in an organization.depicts the flow of data through a computerized accounting information system.26. An important guideline to follow when creating data flow diagrams is to avoid drawing temporary files in them. (Points : 4) True False 27. When creating system flowcharts, the requirement that a processing symbol should always be placed between an input symbol and an output symbol is known as the: (Points : 4) processing rule.input/output rule.sandwich rule.cycle rule.28. Process maps use circles and arrows as their primary symbols. (Points : 4) True False 29. A major disadvantage of decision tables is that they are unable to summarize data processing tasks associated with a large number of data conditions into any kind of compact or easily understood format. (Points : 4) True False 30. Most system flowcharting symbols: (Points : 4) have not been standardized.have been standardized by the Society of System Analysts.have been standardized by the National Bureau of Standards.are unique to the organization that uses them.

1. Which of these businesses is not required to report suspicious activities undercurrent federal laws?BanksMoney service organizationsCommodity tradersMutual fund dealersRace tracksAnswer:…

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