Introduction to Accounting Final Exam
Course Introduction
Introduction to Accounting provides students with a foundational understanding of the principles and practices of financial accounting. The course covers key concepts such as the accounting cycle, financial statement preparation and analysis, double-entry bookkeeping, and the role of accounting information in decision-making processes. Students will learn how to record transactions, adjust entries, and interpret balance sheets, income statements, and cash flow statements. By exploring real-world applications and ethical considerations, this course lays the groundwork for further studies in accounting and equips students with essential skills for managing financial records in diverse organizational settings.
Recommended Textbook
Accounting Information Systems The Crossroads of Accounting and IT 2nd Edition by Kay
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1472 Verified Questions
1472 Flashcards
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Chapter 1: Accounting Systems Insights
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) What is data mining?
A)A type of OLAP cube
B)A method for safeguarding information asset
C)A business intelligence tool
D)All the above except C
Answer: C
Q2) In an accounting system database, which field belongs in a table containing inventory information?
A)Vendor ID
B)Purchase Order
C)City
D)Invoice Number
Answer: A
Q3) An event that does not involve an exchange, for example accrued interest expense, does not need to be recorded in the accounting system.
A)True
B)False
Answer: False
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Chapter 2: Accounting Databases
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100 Flashcards
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Sample Questions
Q1) The ________ is responsible for managing the enterprise's databases. Answer: database administrator (DBA)
Q2) What does the DBMS software do?
Answer: The DBMS software does the following.
1. creates database tables
2. transfers data from the accounting software to the database
3. updates data in the database
4. deletes data from the database
5. sorts database tables
6. runs queries
Q3) How are database tables connected? Please provide an example.
Answer: First, identify a relationship between two tables, (for example, customer places an order). Second, build the relationship between the tables using one or more fields common to the two tables.
For example, a Customer table and Sales Order table may be related through a field that is common to both tables, the Customer No. field. (The student may provide a different example.)
Q4) Nearly all accounting information today is stored in ________. Answer: databases
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Chapter 3: Accounting Interface: Database Forms, Queries, and Reports
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100 Flashcards
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Sample Questions
Q1) What is a query builder tool?
Answer: A query builder tool allows you to create queries without using programming code. They are also called query-by-example.
Q2) A ________ consists of icons that streamline navigation and display logical flow of tasks within each transaction cycle.
Answer: graphical user interfaces (GUI)
Q3) The third main clause of an SQL statement is the
A)Table name
B)Field name
C)Criteria
D)Action
Answer: A
Q4) Information broadcasting can be used to email electronic reports to end users on a scheduled basis.
A)True
B)False
Answer: True
Q5) ________ reports are used by internal parties to make decisions. Answer: Internal
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Chapter 4: Accounting Systems and Business Processes
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Sample Questions
Q1) In a flowcharts, a(n)________ indicates a decision.
Q2) Flowcharts are well suited for programming development because of the ability to chart a series of steps and decisions involved in a process that can be converted to programming code.
A)True
B)False
Q3) ________ provides a mapping standard for bridging the gap between IT professionals and business users, such as accountants.
Q4) Create a BPMN diagram for the Books Ga'Lore! Credit Sales narrative.
Q5) What are the disadvantages of configuring or customizing a baseline accounting system?
Q6) In a flowchart, a(n)________ indicates a process flow.
Q7) How is information to build a business process map collected?
Q8) Create a business process map organizer for the Books Ga'Lore! Credit Sales narrative.
Q9) How many levels of detail may be shown in a flowchart?
A)1 level
B)2 level
C)3 levels
D)4 levels Page 6
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Page 7
Chapter 5: Business Processes: Purchasing, Sales, and Payroll Cycles
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) When ________ is shown going into or from a database table, data will be entered, updated, and retrieved using database field contents within the table.
Q2) The customization approach that involves the system going "live" all at once is called
A)Gap analysis
B)Stages
C)Workflow management
D)Big bang
Q3) Create a business process map organizer for the Spice House Enter Bills from Vendors narrative.
Q4) What are the datastores (database tables)in the Nice Lawn Sales Narrative?
A)Item, Sales Order, Vendor, Sales Order Line
B)Customer, Item, Sales Order, Sales Order Line
C)Customer, Vendor, Invoice
D)Customer, Price, Item, Invoice, Invoice Line
Q5) In a gap analysis, the gap between the baseline modules and the customization required to meet enterprise-specific needs is analyzed.
A)True
B)False
8
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Chapter 6: Integrated Enterprise Systems and Cloud Computing
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Sample Questions
Q1) Define the SaaS (Software-as-a-Service)level of cloud computing.
Q2) Business Process Management involves
A)Customizing the accounting system to meet current business practices
B)Writing code to connect multiple heterogeneous systems
C)Managing the change that individuals within the organization experience as the result of moving to an new system
D)Changing how business operations are conducted
Q3) What are the tiers in a silo computer system?
Q4) Which cloud service level lets an enterprise rent software applications?
A)PaaS (Platform-as-a-Service)
B)SaaS (Software-as-a-Service)
C)IaaS (Infrastructure-as-a-Service)
D)CaaS (Cloud-as-a-Service)
Q5) In SAP Business All-in-One, the customer cockpit uses traffic light alerts to track the order status from
A)Order placement, picking, and delivery
B)Order placement, delivery, and payment
C)Order fulfillment, delivery, and payment
D)Order fulfillment, picking, and payment
Q6) Why does an accounting system need to be integrated throughout an enterprise? Page 9
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Page 10
Chapter 7: Accounting and Business Intelligence
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) Foreign keys in a dimensional table are primary keys in a fact table.
A)True
B)False
Q2) What the difference between a relational database and a dimensional database?
Q3) What are the advantages of shadow data?
Q4) What are the disadvantages of shadow data?
Q5) By using various analysis, such as data mining and predictive modeling, data can be transformed into business intelligence.
A)True
B)False
Q6) What are the advantages of business intelligence technologies?
Q7) List and explain the seven basic steps in the IDM framework.
Q8) Business intelligence technologies are typically under the control of the enterprise's IT professionals.
A)True
B)False
Q9) Large data warehouses usually store data using a dimensional database structure.
A)True
B)False
Q10) What is a quantitative factor? Provide an example. Page 11
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Chapter 8: Accounting and Sustainability Intelligence
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Sample Questions
Q1) The triple bottom line focuses on the effect of which three results?
A)People, technology, and environment
B)Profit, people, and quality of life
C)People, profit, and the planet
D)Technology, profit, and corporate morals
Q2) Which sustainability reporting framework is the cornerstone of the G3 guidelines?
A)International Federation of Accountants (IFAC)Sustainability Framework
B)EMAS European Union
C)ISO 14000 Environmental Management
D)Global Reporting Initiative (GRI)
Q3) Which guiding principle of integrated reporting attempts to improve transparency of reporting on key economic, social, and environmental issues?
A)Connectivity of Information
B)Responsiveness and Stakeholder Inclusiveness
C)Strategic Focus
D)Conciseness, Reliability, and Materiality
Q4) XBRL uses electronic tags for data, both quantitative and qualitative.
A)True
B)False
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Chapter 9: XBRL: Intelligent Business Reporting
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110 Flashcards
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Sample Questions
Q1) XBRL
A)A programming language that converts unstructured data into structured data.
B)A programming language used to develop static web page content.
C)The process of adding data tags after a report is created.
D)A programming language used to develop dynamic web page content.
E)The process of adding data tags during data processing.
Q2) The data stored in an XBRL database is stored with
A)Superior data integrity
B)Bar codes
C)Metadata
D)Business intelligence tools
Q3) XBRL is a programming language that is an extension of HyperText Markup Language (HTML).
A)True
B)False
Q4) Which country was the first capital market to adopt XBRL?
A)USA
B)Russia
C)China
D)Japan
Page 14
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Chapter 10: Fraud and Internal Control
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115 Flashcards
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Sample Questions
Q1) Which Rule of Conduct for internal auditors states that they will not accept anything that may or be presumed to impair their professional judgment.
A)Integrity
B)Competency
C)Objectivity
D)Confidentiality
Q2) What percentage of fraud cases were inadequate internal controls cited as a primary contributing factor?
A)48%
B)29%
C)35%
D)42%
Q3) What are the five major categories of internal control?
Q4) To attest, the auditor is
A)Testifying in court
B)Expressing an opinion
C)Testing financial reporting controls
D)Testing the fairness of the description of controls
Q5) What are the objectives of internal control?
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Chapter 11: Cybersecurity
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113 Flashcards
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Sample Questions
Q1) The encryption method ________ combines symmetric and asymmetric cryptography.
Q2) Which type of malware executes when a specific event happens within the computer?
A)Logic bombs
B)Bots
C)Trojan horses
D)Worms
Q3) Which of the following is NOT a network access point?
A)Keyboard
B)Bridge
C)Computer
D)Router
Q4) Provide example of how security and controls measures can be included in the planning, design, installation, and deployment phases of the SDLC.
Q5) List and define the information sensitivity classifications for the private sector.
Q6) Successful data breaches never involves multiple means of attach.
A)True
B)False
Q7) List and describe the IT resources categories as defined by COBIT.
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Chapter 12: The Risk Intelligent Enterprise: Enterprise Risk Management
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Sample Questions
Q1) What is risk tolerance? Provide an example.
Q2) Acceptance
A)An entity reduces risk likelihood or risk impact by ________ the risk with another entity.
B)This risk response refers to actions taken to ________ risk likelihood, risk impact, or both.
C)When an entity responds to risk with ________, the entity takes no action to affect risk likelihood or risk impact.
D)This risk response involves ________ or exiting the activities that give rise to the risk.
Q3) What are five external events that may pose a risk to an enterprise's ability to achieve objectives? Provide examples.
Q4) Which of the following is NOT considered part of IT controls?
A)ERM
B)Application controls
C)Entity-level controls
D)IT general controls
Q5) ________ forms the basis for operations, reporting, and compliance objectives.
Page 17
Q6) What is the purpose of requiring a spreadsheet user log and change log?
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Chapter 13: Accounting System Development
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Sample Questions
Q1) What is the system development life cycle (SDLC)?
Q2) Which IT professionals typically create the design for the accounting database?
A)Database developers
B)System analysts
C)Database designers
D)Network specialists
Q3) You are a staff accountant at manufacturing firm. IT is creating an new accounting system and wants to use the ABC methodology. Your boss wants IT to use the Prototyping methodology. Prepare an email stating why the ABC methodology is an good approach.
Q4) Which of the activities are performed in the deploy phase of the SDLC?
A)Budget preparation
B)Patch installation
C)Final fine tuning of the system
D)Creation of business models
Q5) What is the software development ABC methodology?
Q6) ________ consists of preparing a pictorial representation of the accounting database.
Q7) ________ activities are conducted in more than one SDLC phase.
Page 18
Q8) The ________ methodology often used to teach system development methodologies.
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Chapter 14: Database Design: ERD, REA, and SQL
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Sample Questions
Q1) The database ________ creates the database model.
Q2) One-to-one relationships are problematic when building a database.
A)True
B)False
Q3) In SQL, ________ statements select, insert, update, and delete database records.
Q4) Using the Nice Lawn database tables, write an SQL statement to retrieve time sheets for employees living in the 63011 or 63012 zip code.
Q5) Cust FName
Cust LName
Cust Address
Cust City
A)Entity Attributes
B)Entity
C)Entity identifier
D)Relationship cardinality
E)Entity relationship
Q6) Provide an example of a deletion anomaly, update anomaly, and an insertion anomaly.
Q7) The ________ database structure is used by data warehouses.
Q8) ________ depicts the relationship among entities in the database.
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