ACC 309 (Accounting) EXAM QUESTIONS
AND ANSWERS COMPLETE AND
VERIFIED RATED A.
Which of the following is not an example of misappropriation of assets?
Warehouse employee takes electronic inventory without authorization
President uses organization's cash to add a floor to her house
CFO falsely adds $20 million to accounts receivable and revenue accounts
Treasurer makes unauthorized wire from company bank to personal account
CFO falsely adds $20 million to accounts receivable and revenue accounts
Identify the opportunity below that could enable an employee to commit fraud.
An employee's spouse loses her job
The employee is experiencing financial hardship
Company does not have clear policies and procedures for employee to follow
An employee is upset that he was passed over for a promotion
Company does not have clear policies and procedures for employee to follow
A group called Anonymous played Santa Claus, hacked banks and sent over $1
million of virtual credit cards to people
,True
False
True
A data backup was lost being transported to offsite storage. Which is most likely
to relieve concerns over cost of loss?
ATC has a comprehensive disaster recovery plan
Shipper has insurance that will reimburse ATC for cost of the hard drive
The hard drive was encrypted and password protected
A copy of the backup is onsite, so a new copy can easily be prepared
The hard drive was encrypted and password protected
Most frauds are detected by
external auditors
internal auditors
hotline tip
forensic accountants
hotline tip
Undetected data transmission errors are an example of a(n) ________ threat.
natural and political disasters
unintentional acts
software errors and equipment malfunctions
intentional acts (computer crimes)
,software errors and equipment malfunctions
What was the first known cyber-attack intended to harm a real-world physical
target?
Sasser
Michelangelo
Stuxnet
Doomsday
Stuxnet
A power outage is an example of a(n) ________ threat.
natural and political disasters
unintentional acts
software errors and equipment malfunctions
intentional acts (computer crimes)
software errors and equipment malfunctions
Misappropriation of assets is a fraudulent act that involves
dishonest conduct by those in power
using computer technology to perpetrate a crime
misrepresenting facts to promote an investment
theft of company property
theft of company property
, Which of the following is the greatest risk to information systems and causes the
greatest dollar losses?
Human errors and omissions
Dishonest employees
Physical threats such as natural disasters
Computer crime
Human errors and omissions
Accounting information plays major roles in managerial decision making by
identifying situations requiring management action
providing a basis for choosing among alternative actions
reducing uncertainty
All of these
All of these
Information that is free from error or bias and accurately represents the events or
activities of the organization is
relevant
verifiable
accurate
timely
accurate
AND ANSWERS COMPLETE AND
VERIFIED RATED A.
Which of the following is not an example of misappropriation of assets?
Warehouse employee takes electronic inventory without authorization
President uses organization's cash to add a floor to her house
CFO falsely adds $20 million to accounts receivable and revenue accounts
Treasurer makes unauthorized wire from company bank to personal account
CFO falsely adds $20 million to accounts receivable and revenue accounts
Identify the opportunity below that could enable an employee to commit fraud.
An employee's spouse loses her job
The employee is experiencing financial hardship
Company does not have clear policies and procedures for employee to follow
An employee is upset that he was passed over for a promotion
Company does not have clear policies and procedures for employee to follow
A group called Anonymous played Santa Claus, hacked banks and sent over $1
million of virtual credit cards to people
,True
False
True
A data backup was lost being transported to offsite storage. Which is most likely
to relieve concerns over cost of loss?
ATC has a comprehensive disaster recovery plan
Shipper has insurance that will reimburse ATC for cost of the hard drive
The hard drive was encrypted and password protected
A copy of the backup is onsite, so a new copy can easily be prepared
The hard drive was encrypted and password protected
Most frauds are detected by
external auditors
internal auditors
hotline tip
forensic accountants
hotline tip
Undetected data transmission errors are an example of a(n) ________ threat.
natural and political disasters
unintentional acts
software errors and equipment malfunctions
intentional acts (computer crimes)
,software errors and equipment malfunctions
What was the first known cyber-attack intended to harm a real-world physical
target?
Sasser
Michelangelo
Stuxnet
Doomsday
Stuxnet
A power outage is an example of a(n) ________ threat.
natural and political disasters
unintentional acts
software errors and equipment malfunctions
intentional acts (computer crimes)
software errors and equipment malfunctions
Misappropriation of assets is a fraudulent act that involves
dishonest conduct by those in power
using computer technology to perpetrate a crime
misrepresenting facts to promote an investment
theft of company property
theft of company property
, Which of the following is the greatest risk to information systems and causes the
greatest dollar losses?
Human errors and omissions
Dishonest employees
Physical threats such as natural disasters
Computer crime
Human errors and omissions
Accounting information plays major roles in managerial decision making by
identifying situations requiring management action
providing a basis for choosing among alternative actions
reducing uncertainty
All of these
All of these
Information that is free from error or bias and accurately represents the events or
activities of the organization is
relevant
verifiable
accurate
timely
accurate
