ACTG 313 LATEST 2026 EXAM MANUAL QUESTIONS AND
SOLUTIONS GUARANTEE A+
✔✔Pressure - ✔✔a person incentive or motivation for committing fraud
✔✔Opportunities - ✔✔situations that present possibilities for exceeding existing goals
✔✔Lapping - ✔✔concealing the theft of cash by means of a series of delays in posting
collections to accounts receivable
✔✔Check kiting - ✔✔creating cash using the lag between the time a check is deposited
and the time it clears the bank
✔✔T or F: Fraud can be prevented by eliminating or minimizing one or more fraud
triangle elements - ✔✔TRUE
✔✔Computer Fraud - ✔✔any type of fraud that requires computer technology to
perpetrate
✔✔Computer fraud classifications - ✔✔1. input fraud
2. processor fraud
3. computer instructions fraud
4. data fraud
5. output fraud
✔✔Input fraud - ✔✔the simplest and most common way to commit a computer fraud is
to alter or falsify computer input
✔✔Processor fraud - ✔✔includes unauthorized system use, including the theft of
computer time and services
✔✔Data fraud - ✔✔illegally using, copying, browsing, searching, or harming company
data
✔✔Output fraud - ✔✔unless properly safeguarded, displayed or printed output can be
stolen, copied, or misused
✔✔Three categories of fraud - ✔✔corruption, asset misappropriation, financial
statement fraud
✔✔Fraud Diamond - ✔✔incentive, opportunity, rationalization, capability
✔✔Management wants assurance that - ✔✔Information produced by the organization
own accounting system is reliable
, The cloud service providers with whom it contracts with are reliable
✔✔Trust services framework - ✔✔was developed to provide guidance for assessing the
reliability of information systems
✔✔The Trust Services Framework 5 principles - ✔✔1. Security
2. Confidentiality
3. Privacy
4. Processing Integrity
5. Availability
✔✔The trust service's framework- security - ✔✔access (both physical and logical) to the
system and its data is controlled and restricted to legitimate users
✔✔The trust service's framework- confidentiality - ✔✔sensitive organizational
information (e.g., marketing plans, trade secrets) is protected from unauthorized
disclosure.
✔✔The trust service's framework- privacy - ✔✔Personal information about customers is
collected, used, disclosed, and maintained only in compliance with internal policies and
external regulatory requirements and is protected from unauthorized disclosure.
✔✔The trust service's framework- processing integrity - ✔✔data are processed
accurately, completely, in a timely manner and only with proper authorization
✔✔The trust service's framework- Availability - ✔✔the system and its information are
available to meet operational and contractual obligations
✔✔Three fundamental information security concepts - ✔✔1. SECURITY IS A
MANAGEMENT ISSUE, NOT JUST A TECHNOLOGY ISSUE
2. PEOPLE: THE CRITICAL FACTOR
3. THE TIME-BASED MODEL OF INFORMATION SECURITY
✔✔T or F: Senior management involvement and support throughout all phases of the
security life cycle is essential for success - ✔✔TRUE
✔✔security life cycle steps - ✔✔1. assess threats and select risk response
2. develop and communicate policy
3. acquire and implement solutions
4. monitor performance
✔✔Step 1: Access threats and select risk response - ✔✔Senior management must
choose which of the four risk responses:
reduce, accept, share, or avoid
SOLUTIONS GUARANTEE A+
✔✔Pressure - ✔✔a person incentive or motivation for committing fraud
✔✔Opportunities - ✔✔situations that present possibilities for exceeding existing goals
✔✔Lapping - ✔✔concealing the theft of cash by means of a series of delays in posting
collections to accounts receivable
✔✔Check kiting - ✔✔creating cash using the lag between the time a check is deposited
and the time it clears the bank
✔✔T or F: Fraud can be prevented by eliminating or minimizing one or more fraud
triangle elements - ✔✔TRUE
✔✔Computer Fraud - ✔✔any type of fraud that requires computer technology to
perpetrate
✔✔Computer fraud classifications - ✔✔1. input fraud
2. processor fraud
3. computer instructions fraud
4. data fraud
5. output fraud
✔✔Input fraud - ✔✔the simplest and most common way to commit a computer fraud is
to alter or falsify computer input
✔✔Processor fraud - ✔✔includes unauthorized system use, including the theft of
computer time and services
✔✔Data fraud - ✔✔illegally using, copying, browsing, searching, or harming company
data
✔✔Output fraud - ✔✔unless properly safeguarded, displayed or printed output can be
stolen, copied, or misused
✔✔Three categories of fraud - ✔✔corruption, asset misappropriation, financial
statement fraud
✔✔Fraud Diamond - ✔✔incentive, opportunity, rationalization, capability
✔✔Management wants assurance that - ✔✔Information produced by the organization
own accounting system is reliable
, The cloud service providers with whom it contracts with are reliable
✔✔Trust services framework - ✔✔was developed to provide guidance for assessing the
reliability of information systems
✔✔The Trust Services Framework 5 principles - ✔✔1. Security
2. Confidentiality
3. Privacy
4. Processing Integrity
5. Availability
✔✔The trust service's framework- security - ✔✔access (both physical and logical) to the
system and its data is controlled and restricted to legitimate users
✔✔The trust service's framework- confidentiality - ✔✔sensitive organizational
information (e.g., marketing plans, trade secrets) is protected from unauthorized
disclosure.
✔✔The trust service's framework- privacy - ✔✔Personal information about customers is
collected, used, disclosed, and maintained only in compliance with internal policies and
external regulatory requirements and is protected from unauthorized disclosure.
✔✔The trust service's framework- processing integrity - ✔✔data are processed
accurately, completely, in a timely manner and only with proper authorization
✔✔The trust service's framework- Availability - ✔✔the system and its information are
available to meet operational and contractual obligations
✔✔Three fundamental information security concepts - ✔✔1. SECURITY IS A
MANAGEMENT ISSUE, NOT JUST A TECHNOLOGY ISSUE
2. PEOPLE: THE CRITICAL FACTOR
3. THE TIME-BASED MODEL OF INFORMATION SECURITY
✔✔T or F: Senior management involvement and support throughout all phases of the
security life cycle is essential for success - ✔✔TRUE
✔✔security life cycle steps - ✔✔1. assess threats and select risk response
2. develop and communicate policy
3. acquire and implement solutions
4. monitor performance
✔✔Step 1: Access threats and select risk response - ✔✔Senior management must
choose which of the four risk responses:
reduce, accept, share, or avoid
