Download BUS 120B - Final Exam Questions And Answers and more Exams Entrepreneurship in PDF only on Docsity!
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Enterprise resource planning (ERP) systems are software packages that can be used to support enterprise systems. - correct answer ✅True E-business has created new ways of working within and across organizations. - correct answer ✅True The Sarbanes-Oxley Act of 2002 has dramatically changed the daily work of financial accountants and auditors. - correct answer ✅True The management process includes marketing and sales. - correct answer ✅False A set of interdependent elements that together accomplish specific objectives is a - correct answer ✅System
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____ is (are) data presented in a form that is useful to decision makers. - correct answer ✅Information The degree to which information includes data about every relevant object or event necessary to make a decision is - correct answer ✅Completeness Which of the following is NOT one of the three steps in decision making as described in the text - correct answer ✅Action The ability of more than one individual to come to the same measurement is known as - correct answer ✅Verifiability Structured decisions - correct answer ✅are relatively routine and repetitive A relation is in second normal form (2NF) if it is in first normal form (1NF) and: -
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Which of the following is not a database model: - correct answer ✅Physical A relation that is in ____ form contains repeating attributes within each row or record. - correct answer ✅Third normal (3NF) A company uses a 7-digit number to identify customers. For example, the customer 1532789 indicates the following information: digits 1-2, state, 15 = Georgia digit 3, type of organization, 3 = government agency digit 4, credit terms, 2 = 2/10, n/ digits 5-7, unique customer identifier, 789 This type of coding scheme is: - correct answer ✅Significant Digit Customers of Hanson Company, a home furnishings wholesaler, place orders by contacting a sales representative via a toll-free number. Which is the appropriate relationship type for this relationship?
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|Customer| - - |Order| - correct answer ✅1:N The centralized database approach to business event processing, in which facts about events are stored in relational database tables instead of separate files, solves many of the problems caused by data redundancy. - correct answer ✅True Business analytics can be used to - correct answer ✅all of these choices are correct predict future occurrences of fraud find data anomalies and outliers detect fraud in real time Data flows that provide a basis for managerial decisions are called ____ information flows. - correct answer ✅vertical
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The COSO 1992 definition of internal control defines internal control as a process designed to provide reasonable assurance regarding the achievement of objectives in which category? - correct answer ✅all of the choices are correct effectiveness of operations compliance with applicable laws and regulations reliability of financial reporting The ERM framework addresses four categories of management objectives. Which category of concerns laws and regulations? - correct answer ✅compliance The section of Sarbanes-Oxley that requires a company's CEO and CFO to certify quarterly and annual reports is: - correct answer ✅Title III Corporate Responsibility A collection of related records is known as a - correct answer ✅Table
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Organizational governance is a process by which organizations select objectives, establish processes to achieve objectives, and monitor performance. - correct answer ✅true Automated business process controls contained within IT systems are called: - correct answer ✅application controls A collection of related characters that comprise an attribute such as a customer number or name is known as a - correct answer ✅field The enterprise system might facilitate the purchase of office equipment by all of the following except - correct answer ✅assisting the vendor with the selection of the appropriate purchase order Business events include - correct answer ✅All of the choices are correct
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correct answer ✅The most common fraud scheme used was improper revenue recognition. Software that helps execute steps such as demand planning, acquiring inventory, manufacturing, distribution, and sales is known as - correct answer ✅supply chain management (SCM) software Enterprise systems potentially integrate the business process functionality and information from all of an organization's functional areas. - correct answer ✅True Risks are those events that could have a negative impact on organization objectives. - correct answer ✅True Which of the following describes COSO's five interrelated components of internal control? - correct answer ✅control environment, risk assessment, control activities, information and communication, monitoring activities
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As a result of an inadequate design, a production process yields an abnormally high amount of raw material scrapped. Which control goal is being violated? - correct answer ✅ensure efficient employment of resources Business process management (BPM) provides a comprehensive method for integrating manual and automated internal processes, applications, and systems, as well as integration to external partners and services. - correct answer ✅true Web Services includes the following technology: - correct answer ✅simple object access protocol (SOAP) An application program interface (API) - correct answer ✅is a means for connecting to a system or application provided by the application developer Cloud computing uses the Internet to provide services such as: - correct answer ✅software software platforms
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Who is legally responsible for establishing and maintaining an adequate system of internal control? - correct answer ✅management The four Ws of capturing data do not include - correct answer ✅why Control goals of operations processes include: - correct answer ✅security of resources The external environment is a system of integrated elements— people, structures, processes, and procedures—acting together to provide reasonable assurance that an organization achieves both its operations system and its information system goals. - correct answer ✅False Approvals, authorizations, verifications, reconciliations, reviews of operating performance, security procedures, supervision, audit trails, and segregation of duties are examples of: - correct answer ✅Control activities
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A manager of a manufacturing plant alters production reports to provide the corporate office with an inflated perception of the plant's cost effectiveness in an effort to keep the inefficient plant from being closed. This action would be classified as a(n): - correct answer ✅fraud The ERM framework is comprised of eight components. Which component includes the policies and procedures established and implemented to help ensure the risk responses are effectively carried out? - correct answer ✅control activities Enterprise systems support an organization by: - correct answer ✅all of the choices are correct retaining records about business events storing data useful for decision making facilitating the functioning of an organization's operations Risk assessment is the entity's identification and analysis of relevant risks to the achievement of its objectives, forming a basis for
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Automates sales tasks such as order processing, contact management, inventory monitoring, order tracking, and employee performance evaluation - correct answer ✅Sales force automation (SFA) software A batch of documents sent by the mail room to the accounts receivable department were lost in the intercompany mail and never recorded - correct answer ✅Ensure input completeness A flaw in the processing logic of a computer program resulted in cash received from customers being added to their accounts receivable balances rather than subtracted. - correct answer ✅Ensure update accuracy. The company's accounts receivable system was infiltrated by a hacker. - correct answer ✅Ensure security of resources. An accounts receivable clerk made a copy of the company's accounts receivable master data and sold this customer information
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to a competing company. - correct answer ✅Ensure security of resources. A mail room clerk fabricated a phony document for a friend to make it look like the friend had paid his account receivable balance. The phony document got recorded. - correct answer ✅Ensure input validity. In keying remittance advices into his computer terminal, an accounts receivable clerk entered a receipt of $100 as $1,000. - correct answer ✅Ensure Input accuracy.
