Home / My courses / UGRD-IA6260-2122S / Week 11-12: Accounting Information Systems and Internal Controls / PRE FINAL QUIZ 1
Started on Thursday, 26 May 2022, 5:57 PM
State Finished
Completed on Thursday, 26 May 2022, 6:00 PM
Time taken 2 mins 42 secs
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Controlled Objectives for Information and related Technology (COBIT): a control framework for the governance and management of
enterprise IT.
Select one:
True
False 
Question 2
Correct
Mark 1.00 out of 1.00
The control environment sets the tone for a company, influences employee control awareness, and lays the groundwork for the external
control system.
Select one:
True
False 
Question 3
Correct
Mark 1.00 out of 1.00
Preventive controls prevent issues from arising in the first place. (Authorization)
Select one:
True 
False
Question 4
Correct
Mark 1.00 out of 1.00
Internal control can be defined as ethical behavior driven by a code of ethics.
Select one:
True 
False
Question 5
Correct
Mark 1.00 out of 1.00
The establishment and maintenance of internal controls is a management duty, according to SOX.
Select one:
True 
False
Question 6
Correct
Mark 1.00 out of 1.00
Application controls are particular to a subsystem or application and verify that transactions are legitimate, complete, and accurate.
Select one:
True 
False
Question 7
Correct
Mark 1.00 out of 1.00
A dynamic method for identifying and analyzing a firm's risks from both external and internal settings is risk assessment.
Select one:
True 
False
Question 8
Correct
Mark 1.00 out of 1.00
A set of practices and rules for operating a corporation with sound ethics in order to protect the interests of its stakeholders is known as
corporate government.
Select one:
True
False 
Question 9
Correct
Mark 1.00 out of 1.00
Employees from various cultural origins are more likely to share similar beliefs.
Select one:
True
False 
Question 10
Correct
Mark 1.00 out of 1.00
The PCAOB Auditing Standard No. 5 (AS 5) urges auditors to identify critical controls using a risk-based, top-down approach.
Select one:
True 
False
Question 11
Correct
Mark 1.00 out of 1.00
To provide dependent control of public accounting companies, the Public Company Accounting Oversight Board (PCAOB) was established.
Select one:
True
False 
Question 12
Correct
Mark 1.00 out of 1.00
Internal control is affected by people. It is not merely about policy manuals, systems and forms. Rather, it is about people at every level of a
firm that impact internal control
Select one:
True 
False
Question 13
Correct
Mark 1.00 out of 1.00
When problems develop, preventive controls are alerted. (Monthly trial balances and bank reconciliations)
Select one:
True
False 
Question 14
Correct
Mark 1.00 out of 1.00
The SEC does not require management to evaluate internal controls based on a recognized control framework
Select one:
True
False 
Question 15
Correct
Mark 1.00 out of 1.00
The Sarbanes-Oxley Act of 2003 mandates public businesses and their auditors to evaluate and report on the design and effectiveness of
internal control over financial reporting on an annual basis.
Select one:
True
False 
Question 16
Correct
Mark 1.00 out of 1.00
Corrective controls are used to address issues that have been recognized. (Backup files can be used to retrieve data that has been
corrupted.)
Select one:
True 
False
Question 17
Correct
Mark 1.00 out of 1.00
Controls over network access, building and maintaining applications, documenting program changes, and other enterprise-wide challenges
are covered by application controls.
Select one:
True
False 
Question 18
Correct
Mark 1.00 out of 1.00
Many professional organizations have created codes of conduct to help professionals choose between decisions that aren't plainly right or
wrong.
Select one:
True 
False
Question 19
Correct
Mark 1.00 out of 1.00
The COSO Internal Control framework is a globally recognized authority on internal control, offering a foundation for analyzing, reporting,
and improving internal control.
Select one:
True 
False
Question 20
Correct
Mark 1.00 out of 1.00
External control refers to the processes that a company uses to secure assets, provide accurate and reliable information, improve
operational efficiency, and enforce prescribed policies.
Select one:
True
False 
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