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ACCT 574 Week 8 Final Exam (Q & A), Exams of Nursing

critical assessment of audit evidence. SAS No. 99 instructs auditors to question management about possible fraud. Tests of controls by auditors are sufficient for auditors to catch fraud. None of the above

Typology: Exams

2023/2024

Available from 08/16/2023

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ACCT 574 Week 8 Final HYPERLINK
"https://www.academicguider.com/de
vry/acct-574-week-8-final-exam/"
HYPERLINK
"https://www.academicguider.com/de
vry/acct-574-week-8-final-exam/"Exam
HYPERLINK
"https://www.academicguider.com/de
vry/acct-574-week-8-final-exam/" (Q &
A)
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Question 1. Question :
Student Answer:
Comments:
(TCO A) Which
The first forensic-type
Scotland.
Accounting
than criminal cases.
New York legislated
William H.
witness article.
All of the above
Question 2. Question :
Student Answer:
Comments:
(TCO A) Which
assets?
Looking at
players Computing industry
ratios Comparing cash flow with
income Using
method
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Download ACCT 574 Week 8 Final Exam (Q & A) and more Exams Nursing in PDF only on Docsity!

ACCT 574 Week 8 Final HYPERLINK

"https://www.academicguider.com/de

vry/acct-574-week-8-final-exam/"

HYPERLINK

"https://www.academicguider.com/de

vry/acct-574-week-8-final-exam/"Exam

HYPERLINK

"https://www.academicguider.com/de

vry/acct-574-week-8-final-exam/" (Q &

A)

Page:^1 2

Question 1. Question : Student Answer: Comments: (TCO A) Which The first fo Scotland. Accounting than criminal c New York le William H. witness article. All of the a Question 2. Question : Student Answer: Comments: (TCO A) Which assets? Looking at players Co ratios Com income Us method

None of the Question 3. Question : Student Answer: (TCO A) Which SAS No. 99 Skepticism mind and a critical assessment of audit evidence. SAS No. 99 instructs auditors to question management about possible fraud. Tests of controls by auditors are sufficient for auditors to catch fraud. None of the above Comments: Question 4. Question : (TCO A) If an internal auditor finds fraud, what communication step should not be taken? Student Answer: Notify management or the Board of Directors. A written report should be prepared. Draft of written report should be submitted to legal counsel for review. Report the offense to the appropriate authority. None of the above Comments:

Question 7. Question : (TCO A) Which is not one of the six areas of litigation services? Student Answer: Anti-trust analysis Valuation Legal knowledge Analysis Damages Comments: Question 8. Question : (TCO B) Select the true answer. To prevent fraud, the entity may choose to: Student Answer: Develop a written code of ethics. Use background checks when hiring employees. Require an annual interview of suspicious employees by internal auditors, security, or others. Prosecute discovered fraud, as an example to other employees. All of the above are true. Comments:

Question 9. Question : (TCO B) Which type of investigative technique works best at accumulating evidence to build a legal case against a financial fraudster? Student Answer: Interviewing Surveillanc e Informants Invigilation All of the above Comments: Question 10. Question : (TCO B) A fraud investigation should not be commenced without proper: Student Answer: Conviction. Predication. Timing. Motivatio n. Some other event Comments:

IP address of the visitor. Speed of transfer from the previous website. None of the above. Comments: Question 14. Question : (TCO B) In order to avoid working with a money launderer, due diligence in a relationship with a new business partner means: Student Answer: Becoming familiar with the background of the potential new partner. Checking pay stubs of the new partner. Reviewing the original copies (not photocopies) of verification documents. All of the above Comments: Question 15. Question : (TCO B) Which would be the least effective procedure for preventing procurement fraud? Student Answer: Confirming inventory Creating an approved vendor list Reviewing monthly bank reconciliations Separating job responsibilities. Looking for cliques

Comments: Question 16. Question : (TCO B) The purpose of money laundering is to: Student Answer:

  • Take illegitimate funds and make them look like they were earned from legitimate business activities.
  • Purposefully transfer restricted grant monies into discretionary accounts through confutation.
  • Secretly take suitcases full of money from one country to another. All of the above Only A and B Comments: Question 17. Question : (TCO C) Which is not a situation which would cause an expert to be ejected? Student Answer: Frye challenge Spoliation Ghost written report Conflict of interest None of the above Comments:

Question 20. Question : (TCO C) Which statement is false? Student Answer: A motion in limine may be used to exclude the testimony of an expert. Under the concept of judicial notice, a court can take as proven certain matters that are considered indisputable. Circumstantial evidence is evidence from which a fact at issue may be proved directly. The most common form of direct evidence is testimony based on a witness's personal knowledge or observation of facts. None of the above is false. Comments: Question 21. Question : (TCO C) Which statement is false? Student Answer: Criminal cases require a higher standard of proof. A person may qualify as an expert without formal training. An expert must testify from personal knowledge. Generally, non-expert witnesses are not permitted to give opinions. All of the above are true. Comments:

Question 22. Question : (TCO C) Which statement is false? Student Answer: Generic mining packages have given disappointing results. Discovery sampling is an inductive approach. Custom data mining is an inductive approach. Discovery sampling involves the use of a random- number- generating software to select the checks that an auditor is auditing. None of the above is false. Comments: Question 23. Question : (TCO C) In a criminal case, the burden of proof is normally: Student Answer: Beyond a reasonable doubt. More likely than not. Preponderance of the evidence. Presumption of guilt. Comments: None of the above

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Question 1. Question : (TCO D) Beth Company sold assets to Karen Company with an alleged value of The actual value of the assets was $1,700,000. Using the "out-of- pocket" dam Student Answer: $1,700,000. $2,400,000. $700,000. $400,000. None of the above is correct. Comments: Question 2. Question : (TCO D) Jones Lumber had an exclusive three-year supply agreement with Woo $4,000,000 per year. After one year, Wood Construction canceled the contract w under the contract. Jones Lumber had average gross margins of 40% and avera expenses average 70% fixed. The damages from the loss of this contract would Student Answer: $1,240,000. $4,080,000. $2,400,000. $400,000. None of the above is correct. Comments:

Question 3. Question : Student Answer: Comments: (TCO D) Georgetown Company's weekly store operating costs for a 10- week period had a high value of $300,000 and a low value of $260,000. Sales volumes for the two weeks were $4,000,000 and $3,200,000 respectively. The estimated variable cost per dollar of sales using the high-low method is: $0.1067 per sales dollar. $0.08125 per sales dollar. $0.075 per sales dollar. $0.05 per sales dollar. Question 4. Question : Student Answer: Comments: (TCO D) In correlation analysis, the coefficient that describes the percentage of explained variance is: The correlation coefficient. The standard error of the estimate. The coefficient of nondetermination. The coefficient of determination. None of the above is correct. Question 5. Question : Student Answer: (TCO D) Antitrust laws were enacted to: Hold down company profits. Put nasty

Question 8. Question : Student Answer: (TCO E) Actually "deleting" data from a hard drive means: Clicking on the file containing the data and then clicking on the Comments: delete key. Using a commercial software program to delete all the data. Melting the plastic disk in the hard drive. Physically damaging the plastic disk in the hard drive. Question 9. Question : Student Answer: Comments: (TCO E) The purpose of remailers is to: Send back e-mail to a sender so that the sender knows it did not go to the recipient. Let the sender know e-mail was received by the recipient. Send spam. Send anonymous e- mail. None of the above

Question 10. Question : Student Answer: Comments: (TCO E) To determine if a port on a Web server is alive and connected to the Internet, which of the following tools would be best to use? Whois. Tracerout e. Ping. ARIN. None of the above Question 11. Question : Student Answer: Comments: (TCO E) What are the dates found on an electronic file? Deletion date Expiration date Modified date Cached date

Question 14. Question : Student Answer: Comments: (TCO F) Of the following costs, which cost is not part of the value of a tangible physical asset? Labor dollars Material dollars. Overhead costs Opportunity costs All of the costs listed are part of the value of a tangible physical asset Question 15. Question : Student Answer: Comments: (TCO F) A serious problem for forensic investigators in finding cybercriminals is: These criminals are located outside the country where the crime is committed. The forensic investigator is trying to catch a criminal whose technological skills may be more advanced than those of the investigator. The victim may not want to pursue the criminal. All of the above are correct. Question 16. Question : Student Answer: (TCO F) A "protected computer" under federal legislation is defined as: Any U.S. government computer. Any PC attached

to the Internet. A PC used in interstate commerce. A criminal's computer. None of the above Comments: Question 17. Question : (TCO F) Which of the following is NOT part of a loss evaluation from a cyber attack? Student Answer: Present value analysis Payback period Lost profits Opportunity cost Comments: