Access Procedure – Accounting & Finance Quiz

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Access Procedure – Accounting & Finance Quiz

The key terms in these Finance chapters include Access Procedure.

Which statement below is incorrect regarding program modifications?

When a program change is submitted for approval, a list of all required updates should be compiled and then approved by management and program users.

During the change process, the developmental version of the program must be kept separate from the production version.

After the modified program has received final approval, the change is implemented by replacing the developmental version with the production version.

Only material program changes should be thoroughly tested and documented.Correct

Marking transactions with a special code, recording them and their master file records before and after processing, and storing the data to later verify that all processing steps were properly executed is an example of

snapshot technique. – Correct

integrated test facility.

system control audit review file.

audit hooks.

Which of the following is not an information systems audit test of controls?

Observe computer-site access procedures.

Examine the results of disaster recovery plan simulations.

Review logical access policies and procedures. – Correct

Investigate how unauthorized access attempts are handled.

The information systems audit objective that pertains to protect computer equipment, programs, communications, and data from unauthorized access, modification, or destruction is known as


program development.

program modifications.

overall security. – Correct

Each specific data item in an XBRL document is called a(n)

element. – Correct




XBRL stands for

extensive business report logic.

external business reporting language.

extensible business reporting language. – Correct

external business reporting ledgers.

If an organization asks you to disclose your date of birth and your address, but refuses to let you review or correct the information you provided, the organization has likely violated which of the Generally Accepted Privacy Principles?

Access. – Correct

Choice and consent.



Abbie Johnson is a programmer at Healtheast network. Abbie has recently developed a new computer program for Healtheast. As part of the testing process, Abbie needs to use realistic patients data to ensure that the system is working properly. To protect privacy, management at Healtheast uses a program that replaces private patient information with fake values before sending the data to Abbie for testing. The program that replaces patient information with fake values is called

data redacting.

data masking. – Correct

data wiping.

If an organization asks you to disclose your date of birth and your address, but fails to establish any procedures for responding to customer complaints, the organization has likely violated which of the Generally Accepted Privacy Principles?

Monitoring and enforcement. – Correct




________ is not a basic activity of the revenue cycle.

Sales order entry

Receiving – Correct



Which of the following is not a general threat to the revenue cycle?

inaccurate master data

unauthorized disclosure of sensitive information

loss of customers – Correct

poor performance

During the sales order entry process, a ________ is performed to verify that each transaction record contains all appropriate data items.

redundant data check

field check

reasonableness test

completeness test – Correct

An auditor sets an embedded audit module to flag questionable online transactions, display information about the transaction on the auditor’s computer, and send a text message to the auditor’s cell phone. The auditor is using

continuous and intermittent simulation.

the snapshot technique.

audit hooks.Correct

a system control audit review file.

Andile Uzoma is the CEO of Chibuzo Incorporated. The board of directors has recently demanded that they receive more assurance that internal controls surrounding the company’s information system are effective. Which type of audit would best suit the demands of the board of directors?

Operational audit.

Information system audit.Correct

Financial audit.

Sustainability audit.

Who should provide the adjusting entries in a well-designed general ledger and reporting system?

Anyone who has access to the other major AIS subsystems.

The controller office.Correct

The treasurer department.

Various user departments.

A type of data entry control that would ensure that adjusting entries are posted to existing general ledger accounts is called a(n) ________ check.

closed loop verification




Which of the following is an example of an ERP system?

Betty has a system that keeps track of the accounts payable and receivable for her plumbing business. At the end of the year, the system helps her to prepare her taxes in just two hours.

Charlie keeps records of all his business records in a shoe box. Each week he enters all of the data into spreadsheets that automatically generate purchase orders, based on predetermined inventory reorder points. Production quotas for the coming week are also automatically generated based on customer orders.

Alexis uses a computerized information system to keep track of all the financial data generated by her bakery. She is considering opening a new bakery on the east side of town.

Doug is a freelance photographer. He keeps records of all expenses and revenues on his cell phone and then e-mails them to himself every month. The files are stored on his personal computer and backed up to CD quarterly.

Encryption is a necessary part of which information security approach?

Synthetic based defense.

Time based defense.

Continuous monitoring.

Defense in depth.Correct

Encryption is not a panacea to protecting confidential information.



Which of the following balanced scorecard dimensions provides measures on new products?


Innovation and learning.Correct


Internal operations.

Variances for variable costs will be misleading when the planned output differs from budgeted output. A solution to this problem would be

to allow more judgement involve in the budgeting process.

to use flexible budgeting.Correct

A serious exposure in the revenue cycle is loss of assets. What is the related threat and applicable control procedure that address this exposure?

theft of cash; segregation of duties and minimization of cash handlingCorrect

making sales that turn out to be uncollectible; force sales people to make collection calls on customers with past due balances

shipping errors; reconciliation of sales order with picking ticket and packing slip

poor performance; preparation and review of performance reports