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Comp2 Quiz#1 Correction

This document contains a quiz with multiple choice, true/false, identification, and application questions testing knowledge of accounting information systems and concepts like internal controls, fraud, and ethics. It covers topics such as the REA model, transaction processing, document flow, and the characteristics of modern systems. The quiz contains questions to test understanding of subsystems, coding schemes, and the components of the fraud triangle.

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Cyrelle Magpantay
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36 views4 pages

Comp2 Quiz#1 Correction

This document contains a quiz with multiple choice, true/false, identification, and application questions testing knowledge of accounting information systems and concepts like internal controls, fraud, and ethics. It covers topics such as the REA model, transaction processing, document flow, and the characteristics of modern systems. The quiz contains questions to test understanding of subsystems, coding schemes, and the components of the fraud triangle.

Uploaded by

Cyrelle Magpantay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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COMP 2 – QUIZ#1 (CORRECTION)

TEST 1: TRUE OR FALSE

1. A system is a group of two or more unrelated components that serve a common purpose.
ANSWER: False- interrelated
2. Useful information has the following characteristics: relevance, timeliness, accuracy.
completeness, and reliability.
ANSWER: False- summarization
3. REA in the REA Model stands for: resources, events, and accounts.
ANSWER: False- Agents
4. Journals under manual accounting systems include source, product, and turnaround documents.
ANSWER: False - Documents
5. System Flowcharts illustrate the relationship among processes and the documents that flow between them.
ANSWER: False – Document Flow Chart
6. A common application of group coding is the construction of chart of accounts
ANSWER: False – Block Code
7. Opportunity refers to personal or job-related stresses that could coerce a person to act a dishonestly.
ANSWER: False – Situational Pressure
8. Control activities can be grouped into information technology controls and psychological controls.
ANSWER: False – Physical Controls
9. Segregation of duties ensures that only authorized personnel have access to the firm's assets.
ANSWER: False – Access Control
10. Ethics are principles of conduct used by individuals in making choices and guiding their behavior in situations
that involve the concepts of truth and lies.
ANSWER: False – Right and Wrong

TEST 2: IDENTIFICATION

1. The process of dividing a system into smaller sub-system parts.


ANSWER: System Decomposition
2. Economic event that affects the assets and equities of an account and is reflected in monetary terms
ANSWER: Financial Transaction
3. Documentation technique that represents the relationship between entities in a system.
ANSWER: Entity Relationship Diagram
4. Product documents of one system that become source documents for another system.
ANSWER: Turn Around Document
5. Systems that process transactions individually at the moment the event occurs
ANSWER: Transaction processing systems
6. It involves stealing cash from an organization before it is recorded on the organization's books and records.
ANSWER: Skimming
7. A false supplier established by a perpetrator on the books of a victim company.
ANSWER: False Presentation
TEST 3: MULTIPLE CHOICES

1. . Which of the following is not a type of information flow?


a. Horizontal
b. Diagonal
c. Vertical
d. Internal to External and vice versa
2. The two concepts that govern data collection are
a. Relevance and Accuracy
b. Effectiveness and Efficiency
c. Reliability and Effectiveness
d. Relevance and Efficiency
3. Customers and suppliers are also referred to as
a. Stakeholders
b. Commercial parties
c. Trading Partners
d. None of the above
4. The following are general characteristics of modern systems except
a. Use relational database tables
b. Have high degree of process integration
c. Mainframe-based applications
d. Process transactions real time
5. Contains records of past transactions for future reference
a. Database
b. Transaction File
c. Reference File
d. Archive File
6. Common computer ethics issues exclude
a. Artificial intelligence
b. Privacy
c. Equity in access
d. Skimming
7. Four principal types of corruption excludes:
a. Economic extortion
b. Bribery
c. Illegal gratuities
d. Cash Larceny
8. Coding scheme that are alphabetic characters in the form of acronyms.
a. Sequential Codes
b. Block Codes
c. Alphabetic Codes
d. Mnemonic Codes
TEST 4: ENUMERATION

1. Major subsystems of Accounting Information System (no abbreviations)- enumerate all three
 Transaction Processing System
 General Ledger / Financial Reporting System
 Management Reporting System
2. Major subsystems of TPS- enumerate all three
 Expenditure Cycle
 Conversion Cycle
 Revenue Cycle
3. Internal Control Components- enumerate all five
 Control Environment
 Risk Assessment
 Information And Communication
 Monitoring
 Control Activities
4. Fraud Schemes under Cash Assets Misappropriation - enumerate only four
 Cash larceny
 Billing Schemes
 Payroll Fraud
 Stealing of cash

TEST 5: APPLICATION

1. Draw the general information systems framework and integrate AIS.


2. Draw a diagram that shows the relationship between the transaction cycles.

3. Draw five symbols that are used in a systems flowchart and identify what they represent.

4. Draw the fraud triangle and provide a simple scenario applying its concept.

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