Analytical Review – Accounting And Finance Exam

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Analytical Review – Accounting And Finance Exam

The key terms in these Finance chapters include Analytical Review.


Whose responsibility is it to determine the amount of time an organization can afford to be without its information system?

The board of directors.

Senior management.Correct

COBIT.

External auditors.


An auditor searching for a shipping document to ensure that the sales number recorded in the sales journal was properly supported. This is an example of

analytical review.

vouching.Correct

review of the documentation.

confirmation.


The evidence collection method that examines all supporting documents to determine the validity of a transaction is called

analytical review.

physical examination.

vouching.Correct

review of documentation.


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

Internal operations.

Innovation and learning.Correct

Customer.

Financial.


Performance reports for sales departments should compare actual revenue versus budgeted

cost.

profit.

revenue.Correct

return on investment.


________ are used to create digital signatures.

Packet filtering and encryption

Asymmetric encryption and hashingCorrect

Hashing and packet filtering

Symmetric encryption and hashing


Text that was transformed into unreadable gibberish using encryption is called

encryption text.

plaintext.

ciphertext.Correct

private text.


A laptop computer belonging to the Novak group was stolen from the trunk of a sales manager’s car while she was attending a conference. After reporting the theft, the manager considered the implications for the company’s network security and concluded there was little to worry about because

the data stored on the computer was encrypted.Correct

it was unlikely that the thief would know how to access the company data stored on the computer.


For strongest segregation of duties, the credit manager should never report to

the credit department.

the marketing department.Correct

the accounting department.

the IT department.


The ________ is a legal contract that defines responsibility for goods that are in transit.

back order

packing slip

bill of ladingCorrect

picking list


Before a shipping notice is prepared during the revenue cycle, shipping department personnel should match the inventory received from the warehouse to the

picking ticket and sales order.Correct

sales order and bill of lading.

sales order.

picking tickets.


Whose responsibility is it to determine the amount of time an organization can afford to be without its information system?

The board of directors.

Senior management. – Correct

COBIT.

External auditors.


An auditor searching for a shipping document to ensure that the sales number recorded in the sales journal was properly supported. This is an example of

analytical review.

vouching. – Correct

review of the documentation.

confirmation.


The evidence collection method that examines all supporting documents to determine the validity of a transaction is called

analytical review.

physical examination.

vouching. – Correct

review of documentation.


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

Internal operations.

Innovation and learning. – Correct

Customer.

Financial.


Performance reports for sales departments should compare actual revenue versus budgeted

cost.

profit.

revenue. – Correct

return on investment.


________ are used to create digital signatures.

Packet filtering and encryption

Asymmetric encryption and hashing – Correct

Hashing and packet filtering

Symmetric encryption and hashing


Text that was transformed into unreadable gibberish using encryption is called

encryption text.

plaintext.

ciphertext. – Correct

private text.


A laptop computer belonging to the Novak group was stolen from the trunk of a sales manager’s car while she was attending a conference. After reporting the theft, the manager considered the implications for the company’s network security and concluded there was little to worry about because

the data stored on the computer was encrypted. – Correct

it was unlikely that the thief would know how to access the company data stored on the computer.


For strongest segregation of duties, the credit manager should never report to

the credit department.

the marketing department. – Correct

the accounting department.

the IT department.


The ________ is a legal contract that defines responsibility for goods that are in transit.

back order

packing slip

bill of lading – Correct

picking list


Before a shipping notice is prepared during the revenue cycle, shipping department personnel should match the inventory received from the warehouse to the

picking ticket and sales order. – Correct

sales order and bill of lading.

sales order.

picking tickets.


The ________ is a legal contract that defines responsibility for goods that are in transit.

back order

packing slip

bill of lading – Correct

picking list


Whose responsibility is it to determine the amount of time an organization can afford to be without its information system?

The board of directors.

Senior management.Correct

COBIT.

External auditors.


An auditor searching for a shipping document to ensure that the sales number recorded in the sales journal was properly supported. This is an example of

analytical review.

vouching.Correct

review of the documentation.

confirmation.


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