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Incorrect Questions Flashcards

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1
Q

Hadoop

A

Open source software framework that stores large amount of data and runs applications on clusters of commodity hardware

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2
Q

What should be part of any risk model involving inventory valuation

A

The price at the time of purchase is the only price that matters in inventory valuation

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3
Q

What function do Utility Programs perform

A

Routine functions (e.g., sorting and copying), they are available to all users, and are promptly available for many different applications. Utility programs are one of the more serious weaknesses in data access security because some can bypass normal access controls.

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4
Q

Primary objective of security software

A

Control access to information system resources, such as program libraries, data files, and proprietary software.

Security software identifies and authenticates users, controls access to information, and records and investigates security related events and data

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5
Q

Best policy for the protection of a company’s vital information resources from computer viruses

A

Policies and procedures used in conjunction with antivirus and access control software

Antivirus not acceptable alone - Software programs can identify and neutralize known viruses but may not recognize and properly neutralize new strains of a computer virus

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6
Q

Spontaneous sources of financing for a firm

A

Arises automatically as part of a purchase transaction. Because of its ease in use, trade credit is the largest source of short-term financing for many firms, both large and small.

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7
Q

A disadvantage of brainstorming

A

Dispersal of accountability, Groupthink

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8
Q

Essential element of activity-based costing (ABC)

A

Driver analysis, which identifies the cause-and-effect relationship between an activity and its consumption of resources and for an activity and the demands made on it by a cost object.

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9
Q

Which strategy is too vendor-dependent when vital operations require almost immediate availability of computer resources (contingency plan)

A

A cold site has all needed assets in place except the needed computer equipment and is vendor-dependent for timely delivery of equipment.

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10
Q

Synergy

A

Occurs when he combination of formerly separate elements has a greater effect than the sum of their individual effects. Reflect complementary sharing of resources, technology, or competencies

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11
Q

Objective of logical security controls for information systems

A

To restrict access to data and resources (both hardware and software) to only authorized individuals.

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12
Q

(EUC) application was implemented, it did not meet certain business requirements in the department and had to be substantially rewritten. What risk could have led to it?

A

They are not reviewed by systems analysts prior to implementation, Unlike IT-developed and supported applications

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13
Q

Under the variable costing method, which costs are assigned to inventory

A

Only variable manufacturing costs (E.g Variable manufacturing overhead)

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14
Q

What is the basic DuPont equation

A

Return on assets = Profit Margin x Total Asset Turnover

Formula written out:

*Profit Margin = Profit avail ordinary SH ÷ Sales

*Total Asset Turnover = Sales ÷ Total Assets

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15
Q

What is the extended DuPont equation

A

Return on ordinary equity = Return on Asset x Leverage Factor*

*Also called equity multiplier = Total assets ÷ Ordinary equity at carrying amount

Simplified:
Return on ordinary equity =
Profit avail ordinary SH ÷ Ordinary equity at carrying amount

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16
Q

Disadvantage of the life cycle approach to system development

A

Not suited for unstructured projects

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17
Q

Approach is best suited for system development for projects that are unstructured

A

Prototyping

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18
Q

Approach is best suited for system development for projects that are structured

A

Life cycle approach, each stage of development is highly structured, and requirements are clearly defined.

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19
Q

Bonds are sold at a Discount and the effective interest method of amortization is used, interest expense will

A

Equals the cash payment plus the amortized discount (periodic interest expense equals an ever-increasing carrying amount times a constant interest rate)

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20
Q

Bonds are sold at a Premium and the effective interest method of amortization is used, interest expense will

A

Equals the cash payment minus the amortized premium (periodic interest expense equals an ever-decreasing carrying amount times a constant interest rate)

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21
Q

Prime costs

A

Direct Material and Direct labour

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22
Q

Conversion cost

A

Direct Labor and Overhead costs

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23
Q

Manufacturing/ Product / Inventoriable cost

A

Direct Material, Direct labour and Manufacturing Overheads

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24
Q

Public-key system

A

Used to encrypt the message prior to transmission, and the private key is needed to decrypt (decode) the message

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25
Worm
Independent program that reproduces by copying itself from one system to another over a network and consumes computer and network resources. It produces a denial of service attack by excessively utilizing system resources.
26
Logic bomb
A mechanism for releasing a system attack of some kind, which is triggered when a particular condition (for example, a certain date or system operation) occurs.
27
Trojan horse
An independent program that appears to perform a useful function but hides another unauthorized program inside it.
28
Virus
A code fragment (not an independent program) that reproduces by attaching to another program.
29
Which type of products will process costing be applied to
Applies to relatively homogeneous products that are mass produced on a continuous basis
30
Low-density data and High-density data
Low density - unstructured, High density- structured, cleaned
31
Total interruption of processing throughout a distributed information technology system can be minimized through the use of
Fault tolerance
32
Fault tolerance
The ability to continue processing at all sites except a nonfunctioning one, main advantage of distributed processing
33
What does application programmers do
Design, write, test, and document computer programs according to specifications provided by the end users. Responsible for designing, building, and maintaining the organization’s applications. Not be able to make changes directly to programs that are used in “live” production
34
Is Property taxes on a factory, period costs or product cost?
Product costs
35
What are product cost
Costs such as material, labor, and overhead attach to the product and are carried in future periods if the revenue from the product is recognized in subsequent periods.
36
What are period costs
Are expensed immediately because no direct relationship between cost and revenue exists.
37
How to strengthen data integrity and reduction in data
By normalizing data by storing each data element as few times as necessary and is not one of the reasons organizations use data analytics.
38
What does Data analytics involve (3)
1) Qualitative and quantitative methodologies and procedures to retrieve data out of data sources and then to inspect the data in accordance with predetermined requirements. 2) To evaluate operational, financial, and other data to identify any deviations from the norm. 3) To make well supported decisions and to formulate strong business models. Organizations can use these analytics to rule out proposed strategic plans and models that would not be beneficial or work for the organization.
39
Gross Profit Margin
Gross Profit ÷ Sales
40
Profit Margin
Net Income ÷ Sales
41
Key technologies of big data include (6)
1) Text Mining 2) Data Mining 3) Data management 4) In-memory analytics 5) Predictive analytics 6) Hadoop.
42
Data query language (DQL)
Ad hoc queries
43
Data manipulation language (DML)
Provides programmers with a facility to update the database.
44
Data control language (DCL)
Used to specify privileges and security rules
45
Data-definition language (DDL)
Used to define, or determine, the database, is the connection between the logical and physical structure of the database.
46
Schema
Description of the overall logical structure of the database using data-definition language (DDL), which
47
A curve on a graph with the rate of return on the vertical axis and time on the horizontal axis depicts
A yield curve showing the term structure of interest rates. Relationship between long- and short-term interest rates, that is, between yield to maturity and time to maturity. If short-term rates are higher than long-term rates, the curve will be downward sloping. If the reverse is true, the curve will be upward sloping.
48
A packet filtering system
Examines each incoming network packet and drops unauthorized packets.
49
A stateful inspection
Stores information about the state of a transmission and uses it as background for evaluating messages from similar sources.
50
A proxy server
An intermediary for requests between a client application and the real server.
51
An application gateway
Resides on the client and server firewall. It filters incoming traffic to certain specifications and prevents malicious requests from being submitted to web applications.
52
When calculating the cost of capital, the cost assigned to retained earnings should be higher/lower than cost of external common equity
LOWER - Newly issued (i.e., external) common equity is more costly than retained earnings. The company incurs issuance costs when raising new, outside funds.
53
The return on equity
Profit after interest and taxes divided by equity (common shares + retained earnings).
54
Less risky to high risky
1. First mortgage (Secured by property) 2. Second Morgage (Secured by junior claim) 3. Subordinated debentures (unsecured debt instruments. Holders claims against issuer even if no income is earned or dividends declared) 4. Income bonds (pay interest only in the event the corporation earns) 5. Preferred shares (receive dividends only if they are declared) 6. Ordinary shares (Cannot receive dividends unless the holders of preferred shares receive)
55
Hot site
Location that is equipped with a redundant hardware and software configuration. Fully operational processing facility that is immediately available.
56
The sales budget is based on the sales forecast. Sales forecasters should consider (5)
(1) recent sales trends, (2) overall conditions in the economy and industry, (3) market research, (4) activities of competitors, and (5) credit and pricing policies.
57
To be considered relevant for decision making, revenues and costs must (3)
1) Differ among the possible alternative courses of action 2) Occur in the future 3) Be avoidable.
58
In a process costing system, the cost of the spoilage would be added to the cost of the good units produced if the spoilage is
Normal spoilage arises under efficient operations and is treated as a product cost.
59
Cost of debt most frequently is measured as
As the after-tax interest rate on the debt. Component cost: =Effective rate X (1 - marginal tax rate)
60
Marginal tax rate
Is the additional tax paid for every additional dollar earned as income. Rate is the highest tax rate that applies to a portion – but not all – of your income
61
Effective interest rate formula
EIR = (1 + i/n)^n - 1 i = annual interest rate n = number of compounding periods per year
62
Process of assigning indirect costs to a cost object
Cost allocation
63
A manager who is evaluated based on x costing, operating profit would be tempted to increase production at the end of a period in order to get a more favorable review.
Absorption (full) costing is the accounting method that considers all manufacturing costs as product costs. If production is increased without increasing sales, inventories will rise. Increase End Inventory, Decrease cost of sales, Increase Sales Variable (direct) costing considers only variable manufacturing costs to be product costs- all fixed costs associated with production will be an expense the period under variable costing.
64
Processing controls provide reasonable assurance (2)
A transaction log would keep track of all transactions that occurred and make sure that they were properly processed. (1) all data submitted for processing are processed and (2) only approved data are processed.
65
The COBIT maturity model uses the following rating scale for the management of IT processes:
(1) nonexistent, (2) initial, (3) repeatable, (4) defined, (5) managed, and (6) optimized
66
The COBIT maturity model focuses on three dimensions of maturity
Capability, coverage, and control. Although performance is a focus of COBIT, it is not a focus of its maturity model.
67
Components of an emergency management program (3)
1) Crisis management 2) Emergency response 3) Business continuity management
68
Business Continuity Management (BCM) elements (6)
1) Management Support 2) Risk Assessment and Mitigation 3) Business Impact Analysis 4) Business Recovery and Continuity Strategy 5) Education, Awareness, and Maintenance 6) Business Continuity
69
Business Impact Analysis
Defines recovery time objectives (RTO) and recovery point objectives (RPOs) seperately

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