Which of the following statements about REA modeling and REA diagrams is false?
a |
REA diagrams must include at least two activities, which together represent a give-get economic exchange. |
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b |
REA data modeling could be referred to as an events-based model. |
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c |
REA data modeling does not include traditional accounting elements such as ledgers, chart of accounts, debits and credits. |
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d |
REA is an acronym for Resources, Entities, and Agents. |
Secretly changing an already open browser tab using JavaScript is called
a |
superzapping. |
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b |
tabnapping. |
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c |
pretexting. |
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d |
piggybacking. |
Every person in the world has a birthdate, but no person has more than one birthdate. Thus, the cardinality that exists between birthdate and people is
a |
one-to-one. |
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b |
one-to-many. |
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c |
many-to-many. |
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d |
many-to-none. |
Nolwenn Limited has been diligent in ensuring that their operations meet modern control standards. Recently, they have extended their control compliance system by incorporating policies and procedures that require the specification of company objectives, uncertainties associated with objectives, and contingency plans. Nolwenn Limited is transitioning from a ________ to a ________ control framework.
a |
COSO-Integrated Framework; COSO-ERM |
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b |
COSO-Integrated Framework; COBIT |
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c |
COBIT; COSO-ERM |
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d |
COSO-ERM; COBIT |
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COBIT; COSO-Integrated Framework |
Which of the following statements about REA modeling and REA diagrams is false? a REA diagrams must...
1. Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee? A. Management's failure to renegotiate unfavorable long-term purchase commitments.B. Recurring operating losses that may indicate going concern problems.C. Evidence of a lack of objectivity by those responsible for accounting decisions.D. Management's current plans to reduce its ownership equity in the entity. 2. After obtaining an understanding of internal control and arriving at a preliminary assessed level...