AIS Exam (elaborations)

With respect to the data processing cycle, explain the phrase "garbage in, garbage out." How can you prevent this from happening? - Answer-When garbage aka errors, is allowed into a system that error is processed and the resultant data stored. The stored data at some point will become output. Thus...

A) Purchase Order 2 - Answer-The correct label for Shape 1 in the flowchart: A) Purchase Order 2 B) Purchase Requisition 1 C) Accounts Payable Trial Balance D) 2 .A) 1 - Answer-The correct label for Shape 2 in the flowchart A) 1 B) Purchase Requisition 1 C) Receiving Report 1 D) 2 .B)...

1) Using a file-oriented approach to data and information, data is maintained in A) a centralized database. B) many interconnected files. C) many separate files. D) a decentralized database. - Answer-C .2) In a well-structured relational database, A) every table must be related to at lea...

Fraud - Answer-gaining an unfair advantage over another person .5 Fraudulent Acts - Answer-1. a false statemenr, representation or disclosure 2. a material fact, which is something that induces a person to act 3. an intent to decive 4. a justifiable reliance; that is, the person relies on the mis...

Payroll Activities - Answer-•Update WIP Account •Prepare Payroll •Prepare A/P •Prepare Cash Disbursement •Distribute Paychecks •Update General Ledger .job tickets - Answer-are mechanisms to capture the time that individual workers spend on each production job. .Time cards - An...

1. Which of the following types of audits is most likely to be conducted for the purpose of identifying areas for cost savings? A. Financial Statement Audits B. Operational Audits C. Regulatory Audits D. Compliance Audits - Answer-B. Operational Audits .2. Financial statement audits are r...

The Trust Services Framework reliability principle that states that users must be able to enter, update, and retrieve data during agreed-upon times is known as - Answer-availability. .According to the Trust Services Framework, the reliability principle of integrity is achieved when the system pro...

4. One of the most critical controls to prevent theft of inventory purchased is to: A. Require authorization of the purchase requisition. B. Segregate inventory custody from inventory record keeping. C. Compare the purchase order, receiving report, and invoice. D. Segregate the authorization...

... controls find problems when they arise - Answer-detective .the control objectives for information and related technology (COBIT) framework is an internationally accepted set of best IT security control practices and is required by PCAOB to be used for SOX section 404 audit - Answer-FALSE ....

As discussed in the text, the functions of the B/AR/CR process: - Answer-collects amounts due from customers .According to the concept of segregation of duties, which of the following managers should report to the controller rather than to the treasurer? - Answer-accounts receivable department ma...

1. According to generally accepted accounting principles, a sale is recognized when A.cash is received from the customer. B.inventory is removed from the warehouse. C.inventory becomes the legal property of the customer. D.a sales order is approved by sales, inventory control, and credit depa...