Value Chain Concept – Finance Final Quiz

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Value Chain Concept - Finance Final Quiz
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Value Chain Concept, AIS, Business Strategy, Retrieve Data, Database – Finance Quiz

The key terms in these Finance chapters include Value Chain Concept, AIS, Business Strategy, Retrieve Data, Database


The value chain concept is composed of two types of activities known as

primary and support.Correct

support and value.

primary and secondary.

technology and support.


An AIS provides value by

improving products or services through information that increases quality and reduces costs.

providing timely and reliable information to decision makers.

creating new products.

both A and BCorrect

Which of the following is a true statement?

AIS directly influences information technology, but not business strategy.

Business strategy directly influences AIS, but not information technology.Correct

Organizational culture directly influences business strategy, but not AIS.

Information technology directly influences organizational culture, but not business strategy.


Arranging delivery of products to customers constitutes ________ in value chain analysis.

delivery

outbound logisticsCorrect

inbound logistics

shipping


The ________ occurs when more than one occurrence of a specific data item in a database exists.

delete anomaly

update anomalyCorrect

insert anomaly

inconsistency anomaly


The value chain concept is composed of two types of activities known as

primary and support.Correct

support and value.

primary and secondary.

technology and support.


Use the chart below to answer the following questions regarding flow chart symbols.


Which symbol would be used in a flowchart to represent a connection to another part of the flowchart on a different page?

#4

#9

#15 – Correct

#14


An AIS provides value by

improving products or services through information that increases quality and reduces costs.

providing timely and reliable information to decision makers.

creating new products.

both A and BCorrect

Which of the following is a true statement?

AIS directly influences information technology, but not business strategy.

Business strategy directly influences AIS, but not information technology.Correct

Organizational culture directly influences business strategy, but not AIS.

Information technology directly influences organizational culture, but not business strategy.


How do users retrieve data stored in a database?

by executing a queryCorrect

specifying the primary keys

by viewing the appropriate data tables

by performing a search


In November of 2005 it was discovered that many of the new CDs distributed by Sony BMG installed software when they were played on a computer. The software was intended to protect the CDs from copying. Unfortunately, it also made the computer vulnerable to attack by malware run over the Internet. The scandal and resulting backlash was very costly. The software installed by the CDs is a

worm.

squirrel.

rootkit.Correct

virus.


A back door into a system that bypasses normal system controls is called a

trap door.Correct

virus.

logic bomb.

data diddle.


The database design method in which a designer uses knowledge about business processes to create a diagram of the elements to be included in the database is called

decentralization.

semantic data modeling.Correct

normalization.

geometric data modeling.


Lauren wants to open a floral shop in a downtown business district. She doesn’t have funds enough to purchase inventory and pay six months’ rent up front. Lauren approaches a good friend, Jamie, to discuss the possibility of Jamie investing funds and becoming a 25% partner in the business. After a lengthy discussion, Jamie agrees to invest. Eight months later, Jamie discovered that Lauren has not be honest with her regarding some aspects of the business financial operation. In order for Jamie to sue Lauren for fraud, all the following must be true except

Jamie found Lauren dishonest because she does not always reconcile the business cash account on a timely basis.Correct

Jamie has suffered a substantial loss in her investment because of Lauren’s deception.

Jamie trusted and relied on Lauren’s representation of the business financial operation.

Jamie’s decision to invest was primarily based on Lauren’s assertion that she had prior floral retail experience.


What is the most prevalent opportunity within most companies to commit fraud?

Management’s belief that most employees would not commit fraud.

Failure by management to enforce the internal controls.Correct

Weaknesses in the design of internal controls.

Lack of internal controls designed by management.


Which of the following is not one of the components of the fraud triangle?

Opportunity

Incentive

SusceptibilityCorrect

Rationalization


The Trust Services Framework reliability principle that states access to the system and its data should be controlled and restricted to legitimate users is known as

privacy.

availability.

security.Correct

integrity.


In the time-based model of information security, D represents

the time it takes an attacker to break through the various controls that protect the organization’s information assets.

the time it takes to assess threats and select risk response.

time it takes to respond to and stop the attack.

the time it takes for the organization to detect that an attack is in progress.Correct


The steps that criminals take to study their target’s physical layout to learn about the controls it has in place is called

scanning and mapping the target.

research.

reconnaissance.Correct

social engineering.


Lauren wants to open a floral shop in a downtown business district. She doesn’t have funds enough to purchase inventory and pay six months’ rent up front. Lauren approaches a good friend, Jamie, to discuss the possibility of Jamie investing funds and becoming a 25% partner in the business. After a lengthy discussion, Jamie agrees to invest. Eight months later, Jamie discovered that Lauren has not be honest with her regarding some aspects of the business financial operation. In order for Jamie to sue Lauren for fraud, all the following must be true except

Jamie found Lauren dishonest because she does not always reconcile the business cash account on a timely basis.Correct

Jamie has suffered a substantial loss in her investment because of Lauren’s deception.

Jamie trusted and relied on Lauren’s representation of the business financial operation.

Jamie’s decision to invest was primarily based on Lauren’s assertion that she had prior floral retail experience.


What is the most prevalent opportunity within most companies to commit fraud?

Management’s belief that most employees would not commit fraud.

Failure by management to enforce the internal controls.Correct

Weaknesses in the design of internal controls.

Lack of internal controls designed by management.


Which of the following is not one of the components of the fraud triangle?

Opportunity

Incentive

SusceptibilityCorrect

Rationalization


In the time-based model of information security, D represents

the time it takes an attacker to break through the various controls that protect the organization’s information assets.

the time it takes to assess threats and select risk response.

time it takes to respond to and stop the attack.

the time it takes for the organization to detect that an attack is in progress.Correct


The steps that criminals take to study their target’s physical layout to learn about the controls it has in place is called

scanning and mapping the target.

research.

reconnaissance.Correct

social engineering.


The value chain concept is composed of two types of activities known as

primary and support.Correct

support and value.

primary and secondary.

technology and support.


An AIS provides value by

improving products or services through information that increases quality and reduces costs.

providing timely and reliable information to decision makers.

creating new products.

both A and BCorrect


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