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ACCT 340 final questions with complete solutions
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ACCT 340 final questions with complete solutions
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ACCT 340 final questions with completesolutions
It eliminates the Statute of Frauds writing requirement. - correct answer ✔✔Which of the following is an
INCORRECT statement regarding the Electronic Signatures in Global and National Commerce Act (E-SIGN
Act)?
ISPs - correct answer ✔✔Websites and Web pages are stored on servers throughout the world, which
are operated by _____.
The ECPA makes it a crime to intercept a traditional contract sent by certified mail, return receipt
requested. - correct answer ✔✔Which of the following is an INCORRECT statement regarding the
Electronic Communications Privacy Act (ECPA)?
ECPA - correct answer ✔✔The _____ is a federal statute that makes it a crime to intercept an electronic
communication.
Electronic Communications Privacy Act (ECPA) - correct answer ✔✔Henry owns a computer on which he
sends and receives email. Harriet learns Henry's access code to his email account. Harriet opens Henry's
email and reads his emails. Harriet has violated the _______.
to discover if someone is cheating on their spouse - correct answer ✔✔The ECPA provides that stored
electronic communications may be accessed without violating the law by all of the following EXCEPT?
cybersquatting - correct answer ✔✔Sometimes, a party registers a domain name of another party's
trademarked name or a famous person's name. This is called _____.
domain - correct answer ✔✔Most businesses conduct e-commerce by using websites on the Internet.
Each website is identified by a unique Internet _____ name.
E-mail contracts are generally unenforceable since they are not in writing. - correct answer ✔✔Which of
the following is an INCORRECT statement regarding the enforcement of electronic mail contracts?
,HTTP - correct answer ✔✔The World Wide Web consists of millions of computers that support a
standard set of rules for the exchange of information called _____.
Frauds - correct answer ✔✔The E-SIGN Act is a federal statute that recognizes electronic contracts as
meeting the writing requirement of the Statute of _____.
Country-specific domain names are usually less expensive to register. - correct answer ✔✔Which of the
following statements is NOT true?
SIGN; paper - correct answer ✔✔The E-_____ Act is designed to place the world of electronic commerce
on a par with the world of _____ contracts in the United States.
famous; bad faith - correct answer ✔✔The Anticybersquatting Consumer Protection Act (ACPA) has two
fundamental requirements: 1) the name must be _____; and 2) the domain name must have been
registered in _____.
.prof - correct answer ✔✔Which of the following is NOT a commonly used top-level extension for
domain names?
.tmz - correct answer ✔✔Which of the following is NOT a commonly used top-level extension for domain
names?
electronic license, or e-license; limited rights - correct answer ✔✔A(n) __________________________ is
a contract whereby the owner of software or a digital application grants _______________to the owner
of a computer or digital device to use the software or a digital application for a limited period and under
specified conditions.
They are unenforceable. - correct answer ✔✔Which of the following is NOT true about the enforceability
of electronic signatures on contracts?
licensor - correct answer ✔✔A(n) _____ is an owner of intellectual property or information rights who
transfers rights in the property or information to the licensee.
,top-level - correct answer ✔✔In 2011, ICANN issued new rules that permit a party to register a domain
name with new _____ domain suffixes that are personalized.
The act is specifically aimed at data hackers. - correct answer ✔✔Which of the following is an
INCORRECT statement regarding the ACPA?
It provides that stored e-communications may be accessed without violating the law by a concerned
friend or family member. - correct answer ✔✔Which of the following is an INCORRECT statement
regarding the Electronic Communications Privacy Act (ECPA)?
SPAM - correct answer ✔✔The CAN-_____ Act is a federal statute that places certain restrictions on
persons and businesses that send unsolicited commercial advertising to e-mail accounts.
Decency - correct answer ✔✔The Communications _____ Act is a federal statute stating that Internet
service providers are not liable for the content transmitted over their networks by e-mail users and
websites.
ACPA - correct answer ✔✔The _____ is a federal statute that permits trademark owners and famous
persons to recover domain names that use their names where the domain name has been registered by
another person in bad faith.
ICANN does not permit personalized TLD suffixes. - correct answer ✔✔Which of the following is an
INCORRECT statement regarding personalized top-level domain (TLD) suffixes?
Electronic - correct answer ✔✔_____ commerce is the sale of goods and services by computer and over
the Internet.
license - correct answer ✔✔A(n) _____ is a contract that transfers limited rights in intellectual property
and information rights.
strict liability for the understatement of a client's tax obligation - correct answer ✔✔The Tax Reform Act
of 1976 imposes all EXCEPT which of the following penalties?
, engagement - correct answer ✔✔The terms of a(n) _____ are specified when an accountant and a client
enter into a contract for the provisions of accounting services by the accountant.
public - correct answer ✔✔A professional who is not a certified public accountant is generally referred to
as a(n) _____ accountant.
GAAPs; GAASs - correct answer ✔✔Certified public accountants must comply with two uniform
standards of professional conduct: _____ and _____.
adverse - correct answer ✔✔Which type of opinion is usually issued when an auditor determines that a
company has materially misstated certain items on its financial statements?
limited liability partnerships - correct answer ✔✔Most public accounting firms are organized and
operated as _____.
18(a); Securities Exchange Act of 1934 - correct answer ✔✔Section _____ of the _____ imposes civil
liability on any person who makes false or misleading statements of material fact in any application,
report, or document filed with the SEC.
Ultramares,
Section 552, foreseeability standard - correct answer ✔✔Which of the follows correctly ranks the major
rules of liability (Ultramares, Section 552, foreseeability standard) in order from least broad to broadest
standard for holding accountants liable to third parties for negligence?
unqualified - correct answer ✔✔A(n) _____ opinion represents an auditor's finding that the company's
financial statements fairly represent the company's financial position, the results of its operations, and
the change in cash flows for the period under audit, in conformity with generally accepted accounting
principles (GAAPs).
10(b); Securities Exchange Act of 1934 - correct answer ✔✔Section _____ of the _____ prohibits any
manipulative or deceptive practice in connection with the purchase or sale of any security.
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