Chapter 1 - Accounting Information Systems and Packages
|
1.
|
Which of the following is not a module of accounting information systems. 4
|
|
  Inventory
|
|
|
Accounts receivable
|
|
|
Working capital management
|
|
|
Payable
|
|
|
|
|
2.
|
Specific accounting functions or modules in an accounting software package can include: 6
|
|
|
General ledger
|
|
|
Fixed assets
|
|
|
Accounts receivable
|
|
|
All the above
|
|
|
|
|
3.
|
Which of the following is not part of a job cost model: 6
|
|
|
Accurate audit information
|
|
|
State tax forms
|
|
|
Detailed income
|
|
|
Expenses and committed costs
|
|
|
|
|
4.
|
Accounting software products can conveniently be categorized as: 8
|
|
|
Low-end packages
|
|
|
Mid-level packages
|
|
|
High-end packages
|
|
|
All the above
|
|
|
|
|
5.
|
High-end applications include: 8
|
|
|
ACCPAC Windows Corporate Series
|
|
|
Southware/SBT professional/open systems
|
|
|
MAS 90/Maeola/Libra
|
|
|
DAC Easy/One-write Plus/Simple Accounting
|
|
|
|
|
6.
|
Leading tax software packages can be categorized into: 10
|
|
|
Lower-cost alternatives
|
|
|
Main stream
|
|
|
High-end
|
|
|
All the above
|
|
|
|
|
7.
|
Lower-cost tax software alternatives do not include: 15
|
|
|
PRO series
|
|
|
Tax Pack Professional
|
|
|
PRO-system fx
|
|
|
Tax relief
|
|
|
|
|
8.
|
Which of the following is not audit software tool: 16
|
|
|
Automated work papers
|
|
|
Digital automation
|
|
|
Data extraction software
|
|
|
Trial balance software
|
|
|
|
|
9.
|
An alternative framework to probability theory that allows for imprecision in data analyses and managers risk is: 19
|
|
|
Fuzzy analysis
|
|
|
DISS analysis
|
|
|
Quasi analysis
|
|
|
Decentralized analysis
|
|
|
|
|
10.
|
hich of the following provides the financial community a standards-based method to prepare, publish in a variety of formats, reliably extract and automatically exchange financial statements of publicly held companies and the information they contain.: 25
|
|
|
XBRL
|
|
|
Access
|
|
|
Microsoft's Excel
|
|
|
Quattro Pro
|
|
|
|
|
Chapter 2 - The Use of Computer Software in Managerial Accounting
|
11.
|
Managerial accounting software does not address: 27
|
|
|
Cost systems
|
|
|
Activity-based costing (abc)
|
|
|
4 P's
|
|
|
Forecasting, budgeting and planning
|
|
|
|
|
12.
|
Activity-based costing (ABC) software is not designed to perform: 28
|
|
|
Assigns costs by activities
|
|
|
Links costs to specific products
|
|
|
Reduce inventory costs
|
|
|
Accurately accumulate cost information
|
|
|
|
|
13.
|
Cash management software packages do not cover: 30
|
|
|
Spreadsheets for profit/loss forecasts
|
|
|
Debt and performance ratings
|
|
|
Cash flow budgets
|
|
|
Projected balance sheet
|
|
|
|
|
14.
|
Cash forecasting and management software does not address: 30
|
|
|
Cash ratio analysis
|
|
|
Cash and carry variations
|
|
|
Profit/loss forecasts
|
|
|
Cash flow budgets
|
|
|
|
|
15.
|
Most spreadsheet templates offer a variety of forecasting methods such as: 31
|
|
|
Regression
|
|
|
Moving averages
|
|
|
Exponential smoothing
|
|
|
All of the above
|
|
|
|
|
16.
|
Adaytum budgeting, planning and forecasting system gives flexibility to all except: 36
|
|
|
Update hierarchies directly from general ledger
|
|
|
Prepares innovative pro forma variations
|
|
|
Combines top-down planning with bottom up budgeting
|
|
|
Makes last minute change to the model structure
|
|
|
|
|
17.
|
Which of the following is not an example of functional games: 43
|
|
|
Capstone Foundation
|
|
|
PERT-SIM for project planning and control
|
|
|
IBM Production Manpower Decision Model for manpower scheduling
|
|
|
MARKSIM for marketing decision making
|
|
|
|
|
Chapter 3 - Information Security and Data Protection
|
18.
|
Steps in managing computer security include: 46
|
|
|
Identify the resources that need to be protected
|
|
|
Balance the costs and the benefits of security safeguards
|
|
|
Contingency planning
|
|
|
All the above
|
|
|
|
|
19.
|
A computer system can fail for all the following reasons except: 47
|
|
|
Operator mistakes, user mistakes
|
|
|
Contingency planning
|
|
|
Malicious acts
|
|
|
Hardware malfunction
|
|
|
|
|
20.
|
Fiber optics is superior to cables and wires in all areas except: 51
|
|
|
Cannot be easily damaged
|
|
|
Cost less to install
|
|
|
Difficult to wiretap
|
|
|
Not effected by electronic interference
|
|
|
|
|
21.
|
Methods used to destroy data do not include: 52
|
|
|
By over-writing on it
|
|
|
Degaussing bulk erasure device
|
|
|
Discarding into garbage
|
|
|
Formatting a disk
|
|
|
|
|
22.
|
Which of the following is not an environmental consideration: 53
|
|
|
Heat and high temperatures
|
|
|
Water
|
|
|
Weather forecasts
|
|
|
Humidity
|
|
|
|
|
23.
|
Fire damage can be reduced by: 56
|
|
|
Fire-rated safes for storage of documents
|
|
|
Fire alarms
|
|
|
Smoke detection systems
|
|
|
All of the above
|
|
|
|
|
24.
|
When software security is modified requests should include: 61
|
|
|
Description of change, why it is needed
|
|
|
How the change will benefit the department
|
|
|
Name, title, department, person requesting the change
|
|
|
All the above
|
|
|
|
|
25.
|
Legal legislative acts to ensure computer security include all except: 66
|
|
|
The Financial Privacy Act of 1978
|
|
|
The Right to Computer Entry Act
|
|
|
The 1987 computer Security Act
|
|
|
The Computer Fraud and Abuse Act
|
|
|
|
|
Chapter 4 - The Accountant and Database Management Systems
|
26.
|
On a database management system accountants can: 69
|
|
|
Define the database
|
|
|
Create the database
|
|
|
Maintain the database
|
|
|
All the above
|
|
|
|
|
27.
|
In auditing a database system the IT auditor will not review and evaluate: 72
|
|
|
Personnel policies
|
|
|
Contingency planning and disaster recovery
|
|
|
Undefined functions
|
|
|
Data center structure and backup controls
|
|
|
|
|
28.
|
Data may be classified by all except: 73
|
|
|
Objective databases
|
|
|
Superimposed databases
|
|
|
Distributed databases
|
|
|
Hierarchical databases
|
|
|
|
|
29.
|
Applications of data warehousing do not include: 74
|
|
|
Compare competitive products
|
|
|
Measure the impact of changing prices on products demand
|
|
|
Detailing credit standing of a new customer
|
|
|
Pricing based on inventory patterns and demand
|
|
|
|
|
30.
|
hich of the following is not a data model: 76
|
|
|
Deviant model
|
|
|
Time series model
|
|
|
Cluster model
|
|
|
Classification model
|
|
|
|
|
31.
|
Data mining involves software to do all except: 78
|
|
|
Identify patterns
|
|
|
Identify quality
|
|
|
Identify relationships
|
|
|
Identify trends
|
|
|
|
|
32.
|
A disadvantage of Neural Networks is 81
|
|
|
Many different types of problem areas are solved
|
|
|
The inability to explain results
|
|
|
Canned software is available
|
|
|
All the above
|
|
|
|
|
33.
|
Factors considered in choosing a suitable OLAP (on-line analytical processing) tool include: 81
|
|
|
Type of software used
|
|
|
Conformity to the company's environment
|
|
|
Future need and scalability
|
|
|
All the above
|
|
|
|
|
34.
|
Advantages of Genetic algorithms (GAs) used to fund optimal values include all except: 82
|
|
|
Best selling price
|
|
|
Optimum number of units to produce
|
|
|
Involves encoding and high costs
|
|
|
Correct number of staff to serve customers
|
|
|
|
|
35.
|
A decision tree: 83
|
|
|
Breaks down records into subsets
|
|
|
Secures secure files
|
|
|
Deletes unused data sources
|
|
|
All the above
|
|
|
|
|
Chapter 5 - The Accountant and the Client/Server Environment
|
36.
|
In a client/server environment the accountant is primarily concerned with: 84
|
|
|
Issues of functioning
|
|
|
Issues of decision-making
|
|
|
Issues of security
|
|
|
All the above
|
|
|
|
|
37.
|
Protective steps to assure security concerns do not involve: 86
|
|
|
Use extra sensory perception
|
|
|
Restrict access to information on the network
|
|
|
Use encryption safeguards
|
|
|
Use security data such as names and passwords
|
|
|
|
|
Chapter 6 - The Accountant and Artificial Intelligence Applications
|
38.
|
Which one of the following is not an element in an experts system? 89
|
|
|
Knowledge of database rules
|
|
|
Date line modules
|
|
|
Domain database of suitable information
|
|
|
Database management system to control and manage
|
|
|
|
|
39.
|
Which of the following is not an application for expert systems: 91
|
|
|
Financial analysis
|
|
|
Preparing and conducting audits
|
|
|
Generating and designing new data
|
|
|
Evaluating credit worthiness of customers
|
|
|
|
|
40.
|
Neural networks may be used to do all except: 93
|
|
|
Correct incorrect program data
|
|
|
Portfolio management
|
|
|
Investment selection
|
|
|
Predict changes in stocks and bond prices
|
|
|
|
|
41.
|
Which of the following is not an application of neural networks: 96
|
|
|
Appraisal spending patterns
|
|
|
Developing new sources of data
|
|
|
Predicting bankruptcy
|
|
|
Evaluating customer behavior
|
|
|
|
|
Chapter 7 - Information Systems and Economic Feasibility Study
|
42.
|
Features of investment projects include: 98
|
|
|
Large amounts of initial cash outlays
|
|
|
Recurring cash inflows
|
|
|
Income tax factors
|
|
|
All the above
|
|
|
|
|
43.
|
The concept of time value of money can be defined as: 99
|
|
|
The dollar is a fixed value in the past and future
|
|
|
A dollar now is worth more than a dollar received later
|
|
|
The dollar received in the future has more value
|
|
|
None of the above
|
|
|
|
|
44.
|
Investment worth for IT projects can be measured by: 108
|
|
|
Payback Period (PP)
|
|
|
Gross Future value (GFV)
|
|
|
External Rate of revaluation (ERV)
|
|
|
Return on equity (ROE)
|
|
|
|
|
45.
|
Income taxes affect investment decisions by: 111
|
|
|
The amount of cash flows
|
|
|
The after-tax cash inflows
|
|
|
The timing of cash flows
|
|
|
The amount and timing of cash flows
|
|
|
|
|
46.
|
Return on infrastructure employed (ROIE) is: 111
|
|
|
Internal rate of return
|
|
|
Net earnings divided by annual IT operating expenses
|
|
|
Net earnings divided by IT investments
|
|
|
Return on investment (ROI)
|
|
|
|
|
47.
|
The cost of capital is often called: 118
|
|
|
The minimum rate of return
|
|
|
The maximum rate of investment
|
|
|
The legal rate of return
|
|
|
The risk-adjusted rate
|
|
|
|
|
48.
|
Leasing benefits can not include: 120
|
|
|
Full deductible as a business expense
|
|
|
Only interest and depreciation can be used for deductions
|
|
|
Offers 100% financing plus 10% of ôsoft costsö
|
|
|
Payments are lower than term loans
|
|
|
|
|
49.
|
Benefits for a feasibility analysis using the Capital Budgeting Model can include cost savings and other benefits, as well as: 125
|
|
|
Initial outlays costs
|
|
|
Operating costs
|
|
|
Other cash outflows
|
|
|
All the above
|
|
|
|
|
50.
|
Which of the following is not part of initial cash outlays and operating costs: 125
|
|
|
Hardware and software
|
|
|
Installation and conversion
|
|
|
Future upgrades and post expenses
|
|
|
Documentation and site preparation
|
|
|
|
|
