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ACC 576 Final Exam Guide Question 1 (IFTC-0112)
Controls in the information technology
area are classified into the preventive,
detective, and corrective categories. Which of
the following is a preventive control? Question 2
(IFTC-0082) An organization relied
heavily on e-commerce for its transactions.
Evidence of the organizations security awareness
manual would be an example of which of the
following types of controls?
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ACC 576 Week 1 Quiz (All Possible
Questions) Which of the following standards
requires a critical review of the work done and
the judgment exercised by those assisting in an
audit at every level of supervision? The first
general standard requires that an audit of
financial statements is to be performed by a
person or persons having ? An auditor uses the
knowledge provided by the understanding of the
internal control structure and the final assessed
level of control risk primarily to determine the
nature, timing, and extent of the ?
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ACC 576 Week 2 Quiz (All Possible
Questions) The most likely result of
ineffective internal control policies and
procedures in the revenue cycle is that? An
entity with a large volume of customer
remittances by mail could most likely reduce the
risk of employee misappropriation of cash by
using?
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ACC 576 Week 3 Quiz Question 1 In
designing written audit programs, an auditor
should establish specific audit objectives that
relate primarily to the Question 2 Which of the
following procedures is least likely to be
performed before the balance sheet date? Question
3 In determining whether transactions have
been recorded, the direction of the audit testing
should be from the
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ACC 576 Week 4 Quiz (All Possible
Questions) Question 1 Comfort letters
ordinarily are addressed to Question 2
When compiling a nonpublic entity's
financial statements, an accountant would be
least likely to Question 3 Comfort letters
ordinarily are signed by the entity's
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ACC 576 Week 5 Quiz (All Possible
Questions) Question At a confidential meeting,
an audit client informed a CPA about the client's
illegal insider-trading actions. A year later,
the CPA was subpoenaed to appear in federal court
to testify in a criminal trial against the
client. The CPA was asked to testify to the
meeting between the CPA and the client. After
receiving immunity, the CPA should do which of
the following?
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ACC 576 Week 6 Quiz (All Possible Questions) Dan
provided original information to authorities
regarding a securities fraud in his company. It
led the SEC to impose penalties of 2 million.
Which of the following is most likely to be Dan's
award under Dodd-Frank? Which of the following is
necessary to be an audit committee financial
expert, according to the criteria specified in
the Sarbanes-Oxley Act of 2002? Which of the
following did Dodd-Frank do regarding a
whistleblower's right to sue for retaliation
accorded by SOX?
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ACC 576 Week 7 Assignment 1 Economic and Monetary
Policy Compare and contrast the economies and
monetary policies of the two (2) countries that
you have researched. Make at least two (2)
recommendations as to the primary manner in which
both countries could improve their economy and /
or monetary policies. Analyze the impact that
economic and monetary policies of one (1) of the
chosen countries currently exerts upon its trade
with other countries. Make at least two (2)
recommendations as to changes that the chosen
country should make to its policies to benefit
its foreign trade.
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ACC 576 Week 7 Quiz (All Possible
Questions) The free-market economy flow model
depicts four major interrelated flowsI .
Individuals provide economic resources to
business firms.II. Firms provide payment to
individuals for economic resources.III. Firms
provide goods and services to individuals.IV.
Individuals provide payment to firms for goods
and services. If the cost of imported oil
declined suddenly and significantly, which one of
the above flows would be most likely to be the
first impacted?
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ACC 576 Week 8 Quiz (All Possible
Questions) Regarding financial resources,
financial management is concerned with the
efficiency and effectiveness of which of the
following? Which of the following financial
management-related areas are considered long-term
issues? Which one of the following would be
considered a long-term financial management
activity or concern?
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ACC 576 Week 9 Quiz (All Possible
Questions) The fixed assets and related
depreciation of a company are currently tracked
on a password-protected spreadsheet. The
information technology governance committee is
designing a new enterprise-wide system and needs
to determine whether the current fixed asset
process should be included because the current
system seems to be working properly. What
long-term solution should the committee
recommend?
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ACC 576 Week 10 Quiz (All Possible
Questions) Jonathan Mfg. adopted a job-costing
system. For the current year, budgeted cost
driver activity levels for direct labor hours and
direct labor costs were 20,000 and 100,000,
respectively. In addition, budgeted variable and
fixed factory overheads were 50,000 and 25,000,
respectively. The actual costs and hours for the
year were as follows Direct labor hours 21,000,
Direct labor costs 110,000, Machine hours
35,000. For a particular job, 1,500 direct labor
hours were used. Using direct labor hours as the
cost driver, what amount of overhead should be
applied to this job?
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