age 1 of 85
ACG 3401 EXAM 2 STUDY GUIDE 2025/2026
COMPLETE QUESTIONS BANK AND CORRECT
DETAILED ANSWERS WITH RATIONALES || 100%
GUARANTEED PASS <BRAND NEW VERSION>
Batch Processing ......ANSWER........updating done periodically,
such as daily
Online, Real-Time Processing ......ANSWER........the computer
system processes data immediately after capture and provides
updated information to users on a timely basis
Segregation of Duties ......ANSWER........1. Authorization of
Transactions 2. Record Keeping 3. Custody of Assets 4.
Reconciliation
,age 2 of 85
Fraud Triangle ......ANSWER........Opportunity, pressure,
rationalization
COSO Framework Components ......ANSWER........1. Control
Environment 2. Risk Assessment 3. Control Activities 4.
Information/Communication 5. Monitoring Activities
COSO Framework Objectives ......ANSWER........operations,
reporting, compliance
Vouching ......ANSWER........end to start
Tracing ......ANSWER........start to end
XBRL ......ANSWER........Extensible Business Reporting Language,
comparability between companies
SOX Section 302 ......ANSWER........Key company officials (CEO
and CFO) must certify the financial statements.
,age 3 of 85
SOX Section 404 ......ANSWER........requires management to
assess internal control effectiveness
GAAP vs IFRS ......ANSWER........GAAP: must record at cost,
adjust for depreciation and impairment, do not record increases
in value
R&D : expense all costs of researching and developing
intangible assets
IFRS: choose between either cost or fair value, adjusts for
depreciation and impairment, if using fair value, record
increases in value
R&D: expense research costs but capitalize measurable costs of
developing intangible assets
AICPA Trust Services Framework ......ANSWER........Security
, age 4 of 85
Confidentiality
Privacy
Processing Integrity
Availability
multifactor authentication ......ANSWER........the use of two or
more types of authentication credentials in conjunction to achieve
a greater level of security
multimodal authentication ......ANSWER........using multiple
authentication credentials of the same type
Honeypots ......ANSWER........decoy systems designed to lure
potential attackers away from critical systems
ACG 3401 EXAM 2 STUDY GUIDE 2025/2026
COMPLETE QUESTIONS BANK AND CORRECT
DETAILED ANSWERS WITH RATIONALES || 100%
GUARANTEED PASS <BRAND NEW VERSION>
Batch Processing ......ANSWER........updating done periodically,
such as daily
Online, Real-Time Processing ......ANSWER........the computer
system processes data immediately after capture and provides
updated information to users on a timely basis
Segregation of Duties ......ANSWER........1. Authorization of
Transactions 2. Record Keeping 3. Custody of Assets 4.
Reconciliation
,age 2 of 85
Fraud Triangle ......ANSWER........Opportunity, pressure,
rationalization
COSO Framework Components ......ANSWER........1. Control
Environment 2. Risk Assessment 3. Control Activities 4.
Information/Communication 5. Monitoring Activities
COSO Framework Objectives ......ANSWER........operations,
reporting, compliance
Vouching ......ANSWER........end to start
Tracing ......ANSWER........start to end
XBRL ......ANSWER........Extensible Business Reporting Language,
comparability between companies
SOX Section 302 ......ANSWER........Key company officials (CEO
and CFO) must certify the financial statements.
,age 3 of 85
SOX Section 404 ......ANSWER........requires management to
assess internal control effectiveness
GAAP vs IFRS ......ANSWER........GAAP: must record at cost,
adjust for depreciation and impairment, do not record increases
in value
R&D : expense all costs of researching and developing
intangible assets
IFRS: choose between either cost or fair value, adjusts for
depreciation and impairment, if using fair value, record
increases in value
R&D: expense research costs but capitalize measurable costs of
developing intangible assets
AICPA Trust Services Framework ......ANSWER........Security
, age 4 of 85
Confidentiality
Privacy
Processing Integrity
Availability
multifactor authentication ......ANSWER........the use of two or
more types of authentication credentials in conjunction to achieve
a greater level of security
multimodal authentication ......ANSWER........using multiple
authentication credentials of the same type
Honeypots ......ANSWER........decoy systems designed to lure
potential attackers away from critical systems
