Accounting Data Analytics
Textbook Exam Questions
Course Introduction
Accounting Data Analytics introduces students to the applications of data analytics in the accounting profession. The course covers fundamental concepts and analytical techniques for collecting, cleaning, visualizing, and interpreting accounting data to support decision-making. Students will learn to utilize popular data analysis tools and software, explore how big data impacts auditing, taxation, and financial reporting, and practice communicating insights effectively. Emphasis is placed on developing critical thinking and quantitative skills necessary for addressing complex accounting issues in a data-driven business environment.
Recommended Textbook
Accounting Information Systems 14th Edition by Marshall B. Romney
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Page 2
Chapter 1: Conceptual Foundations of Accounting Information Systems
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Q1) How can the value of the information produced by an accounting information system be determined? What would a measurement and verification expert think about quantification and verification of such information?
Answer: A well-designed AIS improves the efficiency and effectiveness of the value chain by improving the quality and lowering the overall cost of products or services,improving efficiency of operations,improving decision making,and enhancing the sharing of knowledge.These are the benefits of possessing and using information.Drawbacks to possessing and using such information are the costs of obtaining and maintaining such information.These costs include investments in people,processes,and computing and networking hardware and software on an ongoing basis.Costs of the information are quantifiable to some extent.However,some of the benefits of using the information involve numerous estimates and assumptions.As such,the quantification of the benefits of utilizing such information depends on the accuracy of the assumptions.
Q2) An accounting information system requires at least one computer.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Overview of Transaction Processing and Enterprise Resource Planning Systems
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Q1) Which of the following is not considered a source document?
A)A copy of the company's financial statements.
B)A copy of the company's shipping document.
C)A copy of the company's sales journal.
D)A copy of the company's ledger.
Answer: A
Q2) In an ERP system,the module used to record data about transactions in the disbursement cycle is called
A)order to cash.
B)purchase to pay.
C)financial.
D)customer relationship management.
Answer: B
Q3) Which of the following statement is true about master file?
A)Individual master file records are permanent.
B)Individual master file records may change frequently.
C)Individual master file records are sometime being referred to as date value.
D)Individual master file records are sometime being referred to as entity.
Answer: B
Page 4
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Chapter 3: Systems Documentation Techniques
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Q1) Which symbol would be used in a flowchart to represent a flow of data or documents?
A)#12
B)#13
C)#11
D)#15
Answer: A
Q2) In a DFD,a "data sink" is also known as a A)data store.
B)transformation process.
C)data flow.
D)data destination.
Answer: D
Q3) The Sarbanes-Oxley Act requires independent auditors to A)create flowcharts to document business processes.
B)understand a client's system of internal controls.
C)establish effective internal controls.
D)prepare and understand all types of system documentation.
Answer: B
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Page 5
Chapter 4: Relational Databases
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Q1) A fully normalized database is called
A)first normal form (1NF).
B)second normal form (2NF).
C)third normal form (3NF).
D)forth normal form (4NF).
Q2) File-oriented approaches create problems for organizations because of
A)multiple transaction files.
B)a lack of sophisticated file maintenance software.
C)multiple users.
D)multiple master files.
Q3) What acts as an interface between the database and the various application programs?
A)data warehouse
B)database administrator
C)database system
D)database management system
Q4) Describe the different schemas involved in a database structure.What is the role of accountants in development of schemas?
Q5) Describe a major advantage of database systems over file-oriented transaction processing systems.
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Chapter 5: Computer Fraud
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Q1) Which of the following is not an example of misappropriation of assets?
A)A warehouse employee takes home two units of electronic entertainment inventory each week without authorization.
B)The chief financial officer of the company falsely adds $20 million to the accounts receivable and revenue accounts.
C)The president of the company utilizes the organization's cash to add a floor to her 15,000 square foot house.
D)The treasurer of the company makes an unauthorized wire transfer from the organization's bank to a personal account in Grand Cayman.
Q2) How does the U.S.Justice Department define computer fraud?
A)As any crime in which a computer is used.
B)As any act in which cash is stolen using a computer.
C)As an illegal act in which a computer is an integral part of the crime.
D)As an illegal act in which knowledge of computer technology is essential.
Q3) What characteristics must be presented for an act to be considered fraudulent? Give an example to support your answer.
Q4) Describe at least four ways a company can make fraud less likely to occur.
Q5) Describe four ways companies can reduce losses from fraud.
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Chapter 6: Computer Fraud and Abuse Techniques
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Q1) A part of a program that remains idle until a specified date or event activates it to cause havoc is called a A)virus.
B)logic bomb.
C)trap door.
D)data diddle.
Q2) Lebanese looping is
A)verifying credit card validity;buying and selling stolen credit cards.
B)inserting a sleeve into an ATM so that it will not eject the victim's card,pretending to help the
Victim as a means of obtaining his PIN,and using the card and PIN to drain the account. C)a technique that tricks a person into disclosing confidential information.
D)changing data before,during,or after it is entered into the system in order to delete,alter,or add key system data.
Q3) Describe ways to help minimize social engineering.
Q4) Describe the differences between a worm and a virus.
Q5) What is social engineering? Provide an example.
Q6) Describe the differences between spyware,scareware,and ransomware.
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Chapter 7: Control and Accounting Information Systems
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Q1) Which of the following measures can protect a company from AIS threats?
A)Take a proactive approach to eliminate threats.
B)Detect threats that do occur.
C)Correct and recover from threats that do occur.
D)All of the above are proper measures for the accountant to take.
Q2) SOX suggested the fraud hotline as a mechanism for employees to report fraud and abuse.
A)True
B)False
Q3) A(n)________ helps employees act ethically.
A)boundary system
B)diagnostic control system
C)interactive control system
D)belief system
Q4) According to the ERM model,________ help to ensure the accuracy,completeness and reliability of internal and external company reports.
A)compliance objectives
B)operations objectives
C)reporting objectives
D)strategic objectives
Page 9
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Chapter 8: Controls for Information Security
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Q1) A special purpose hardware device or software running on a general purpose computer,which filters information that is allowed to enter and leave the organization's information system,is known as a(n)
A)demilitarized zone.
B)intrusion detection system.
C)intrusion prevention system.
D)firewall.
Q2) Compatibility tests utilize a(n)________,which is a list of authorized users,programs,and data files the users are authorized to access or manipulate.
A)validity test
B)biometric matrix
C)logical control matrix
D)access control matrix
Q3) In recent years,many of the attacks carried out by hackers have relied on this type of vulnerability in computer software.
A)Code mastication.
B)Boot sector corruption.
C)URL injection.
D)Buffer overflow.
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Page 10
Chapter 9: Confidentiality and Privacy Controls
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Q1) Which of the following descriptions is not associated with symmetric encryption?
A)A shared secret key.
B)Faster encryption.
C)Lack of authentication.
D)Separate keys for each communication party.
Q2) If an organization asks you to disclose your date of birth and your address,but refuses to let you review or correct the information you provided,the organization has likely violated which of the Generally Accepted Privacy Principles?
A)Collection.
B)Access.
C)Security.
D)Choice and consent.
Q3) Asymmetric key encryption combined with the information provided by a certificate authority allows unique identification of
A)the user of encrypted data.
B)the provider of encrypted data.
C)both the user and the provider of encrypted data.
D)either the user or the provider of encrypted data.
Q4) Compare the advantages and disadvantage of symmetric and asymmetric encryption.
11
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Chapter 10: Processing Integrity and Availability Controls
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Q1) Which COBIT5 management practice addresses the importance of locating and designing the data centers housing mission-critical servers and databases so as to minimize the risks associated with natural and human-caused disasters?
A)DSS01.04
B)DSS04.07
C)DSS03.05
D)DSS04.04
Q2) ________ is a data entry input control that involves summing the first four digits of a customer number to calculate the value of the fifth digit,then comparing the calculated number to the number entered during data entry.
A)Validity check
B)Duplicate data check
C)Closed-loop verification
D)Check digit verification
Q3) Data matching is an example of a(n)
A)data entry control.
B)data transmission control.
C)processing control.
D)input control.
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Page 12
Chapter 11: Auditing Computer-Based Information Systems
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Q1) Verifying the accuracy of certain information,often through communication with third parties,is known as
A)reperformance.
B)confirmation.
C)substantiation.
D)documentation.
Q2) Embedded audit molecules can be used to continually monitor the system and collect audit evidence.
A)True
B)False
Q3) What is the primary purpose of computer audit software?
A)To eliminate auditor judgment errors.
B)To assist the auditor in retrieving and reviewing information.
C)To help auditors detect unauthorized modifications to system program code.
D)To help auditors recheck all mathematical calculations,cross-foot,reprocess financial statements and compare to originals.
Q4) Why do all audits follow a sequence of events that can be divided into four stages,and what are the four stages?
Q5) Describe the five commonly used concurrent audit techniques.
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Chapter 12: The Revenue Cycle: Sales to Cash Collections
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Q1) Two documents usually accompany goods shipped to a customer.What are the two documents?
A)a bill of lading and an invoice
B)a packing slip and a bill of lading
C)an invoice and a packing slip
D)an invoice and a sales order
Q2) The activities involved in soliciting and processing customer orders within the revenue cycle are known as the
A)sales order entry process.
B)shipping order process.
C)revenue process.
D)marketing process.
Q3) All of the following edit checks for online editing of accounts receivable transactions would probably be included except
A)validity checks on customer ID and invoice numbers.
B)check digit verification on the amount of the sale.
C)closed loop verification on the customer ID.
D)field checks on the values in dollar fields.
Q4) Explain how to effectively segregate duties in the sales order activity.
Q5) Describe typical credit approval procedures.
Page 14
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Chapter 13: The Expenditure Cycle: Purchasing to Cash
Disbursements
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Q1) Procurement cards differ from corporate credit cards in which of the following ways?
A)Credit limits can be set for procurement cards,but not corporate credit cards.
B)Credit cards can be used to make purchases without an explicit sign off by supervisors,but procurement cards require a sign off.
C)Procurement cards can only be used with approved vendors,but credit cards can be used anywhere.
D)Procurement card invoices are sent separately for each card,whereas corporate credit cards are consolidated into a single invoice.
Q2) A major cost in the purchasing function is the number of purchase orders processed.One technique that may reduce purchasing-related expenses is to have suppliers compete with each other to meet demand at the lowest price.The name of this technique is
A)an EDI auction.
B)a trading exchange.
C)a reverse auction.
D)a supplier consortium.
Q3) What types of decision-making and strategic information should the AIS provide in the expenditure cycle?
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Chapter 14: The Production Cycle
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Questions
Q1) Which of the following controls can minimize the threat of unauthorized disclosure of sensitive information?
A)The use of innovative performance metrics.
B)The use of periodic physical counts of inventory and reconciliation of those counts to recorded quantities.
C)The use of encryption.
D)The use of production planning systems.
Q2) What types of data are accumulated by cost accounting? What is the accountant's role in cost accounting?
Q3) In activity-based costing,expenses associated with the purchase of health care insurance for employees are ________ overhead.
A)batch-related
B)product-related
C)company wide
D)expenditure-based
Q4) What are the two major types of cost accounting systems and what are the differences between the two?
Q5) Identify and discuss the two documents that are the result of product design activities.
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Chapter 15: The Human Resources Management and Payroll Cycle
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Q1) A report of income paid to independent contractors is called
A)form W-2.
B)form W-3.
C)form 1099-Misc.
D)form 941.
Q2) Why is a separate payroll account used to clear payroll checks?
A)For internal control purposes,to help limit any exposure to loss by the company.
B)To make bank reconciliation easier.
C)To separate payroll and expense checks.
D)All of the above are correct.
Q3) Companies that specialize in processing payroll are known as
A)paycheck distribution companies.
B)payroll service bureaus.
C)professional employer organizations.
D)semi-governmental organizations.
Q4) Why are accurate cumulative earnings records important?
Q5) Discuss the various types and sources of input into the HRM/payroll cycle.
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Q6) Discuss the reasons small and midsized businesses are attracted to payroll service bureaus and PEOs.
Chapter 16: General Ledger and Reporting System
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Q1) Adjusting entries that are made to recognize revenue that has been received but not yet earned are classified as A)estimates.
B)deferrals.
C)accruals.
D)revaluations.
Q2) The benefits of XBRL include
A)organizations can publish financial information only once,using standard XBRL tags. B)tagged data is readable and interpretable by computers,so users don't need to re-enter data in order to work with it.
C)Both are benefits of XBRL.
D)Neither is a benefit of XBRL.
Q3) Adjusting entries that reflect a change in accounting principle used to value inventories are classified as A)corrections.
B)estimates.
C)deferrals.
D)revaluations.
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Chapter 17: Database Design Using the Rea Data Model
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Q1) Every person in the world can have more than one friend,and each person in the world can be a friend to more than one person.Thus,the cardinality that exists between friends and people is
A)one-to-one.
B)one-to-many.
C)many-to-many.
D)many-to-none.
Q2) ________ includes carefully monitoring system performance and user satisfaction to determine the
Need for making system enhancements and modifications.
A)Operation and maintenance
B)Conceptual design
C)Physical design
D)Implementation and conversion
Q3) It is industry standard to model attributes as ________ in entity-relationship diagrams.
A)rectangles
B)ovals
C)diamonds
D)There is no industry standard.
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Chapter 18: Implementing an Rea Model in a Relational Database
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Q1) A query that extracts,for a given time period,the total amount of all sales events for which there is no corresponding receive cash event will yield
A)a cash account ledger.
B)a credit sales journal.
C)an accounts receivable ledger.
D)an accounts payable journal.
Q2) A query that extracts,for a given time period,all purchases for which there is no corresponding disburse cash event will yield
A)a cash account ledger.
B)a credit sales journal.
C)an accounts receivable ledger.
D)an accounts payable journal.
Q3) Which table is most likely to have a concatenated key?
A)Inventory.
B)Sales.
C)Sales-inventory.
D)Accounts receivable.
Q4) Explain where in the REA model you can find the information normally found in a ledger.
20
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Chapter 19: Special Topics in Rea Modeling
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Q1) The attributes of which type of entity would provide a way for the system to compare an employee's reimbursement request with the permissible range of the amount of reimbursement permitted?
A)Resources
B)Events
C)Agents
D)Type
Q2) While not required,connecting the Time Used entity to specific business events enables
A)evaluating performance at a very detailed level.
B)general performance evaluation.
C)evaluating the quality of the services received.
D)determining productivity of employees,such as how many customer calls were made,or how many sales were made.
Q3) In an REA database model,the Bill of Materials entity contains information about what?
A)The raw materials used to make a finished product.
B)The actual cost of the raw materials used to make a finished product.
C)The vendor from whom the raw materials was purchased
D)All of the above.
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Chapter 20: Introduction to Systems Development and Systems Analysis
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Q1) Describe guidelines that an organization can follow to prevent behavioral problems when implementing a system.
Q2) The task of improving the efficiency of Crawford Insurance's accounting information system was given to a project development team.During the ________ step in the systems development life cycle,the team defined the procedures needed to back up and secure the new system's data.
A)operations and maintenance
B)implementation and conversion
C)physical design
D)conceptual design
Q3) Describe the four strategies used to determine AIS requirements.
Q4) In which phase of the systems development life cycle where the company hires and trains employees,tests and modifies procedures,establishes standards and controls,completes documentation,moves to the new system,and detects and corrects design deficiencies?
A)Conceptual design.
B)Implementation and conversion.
C)Physical design.
D)Systems analysis.
22
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Chapter 21: Ais Development Strategies
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Q1) Which of the following is an advantage of CASE?
A)It exhibits a high degree of cross-system compatibility.
B)It is an inexpensive technology that is accessible to small businesses.
C)Documentation is generated automatically.
D)It enhances the congruence between user expectations and the final system.
Q2) Although Gillette uses canned software in its business operations,it does so with the intention of creating a competitive advantage.Identify how Gillette aims to gain a greater competitive advantage from using canned software.
A)From deciding how the software should be used.
B)From deciding what software should be used.
C)From the cost savings it gains by using canned software.
D)From deciding when software should be used.
Q3) Identify one of the benefits associated with procuring software from application service providers.
A)Lower cost.
B)Scalability.
C)Greater effectiveness.
D)Faster processing speed.
Q4) Explain the concept of an application service provider.
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Chapter 22: Systems Design, implementation, and Operation
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Q1) Several types of documentation must be prepared for a new system.The type of documentation that includes a procedures manual and training materials is called
A)development documentation.
B)operations documentation.
C)reference documentation.
D)user documentation.
Q2) Which of the following describes a phase-in conversion?
A)Both the old and new AIS are operated simultaneously.
B)Elements of the old AIS are replaced gradually with elements of the new AIS.
C)The new AIS is introduced into a segment,rather than the whole organization.
D)The old AIS is terminated as the new AIS is introduced.
Q3) What factors does a steering committee consider when evaluating different system designs?
Q4) ________ of software development costs should be allocated to testing,debugging,and rewriting software.
A)5% to 10%
B)10% to 20%
C)20% to 30%
D)More than 30%
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