The general ledger setup function in an enterprise resource
package (ERP) allows for setting accounting periods. Access
to this function has been permitted to users in finance, the
warehouse and order entry. The MOST likely reason for such
broad access is the:
A. need to change accounting periods on a regular basis..
B. requirement to post entries for a closed accounting period.
C. lack of policies and procedures for the proper
segregation of duties.
D. need to create/modify the chart of accounts and its
allocations.
- 1 Answers
- 6588 Views
- I also Faced
- E-Mail Answers
Answer / guest
Answer: C
Setting of accounting periods is one of the critical
activities of the finance function. Granting access to this
function to the personnel in the warehouse and order entry
could be because of a lack of proper policies and procedures
for the adequate segregation of duties. Accounting periods
should not be changed at regular intervals, but established
permanently. The requirement to post entries for a closed
accounting period is a risk. If necessary this should be
done by someone in the finance or accounting area. The need
to create/modify the chart of accounts and its allocations
is the responsibility of the finance department and is not a
function that should be performed by warehouse or order
entry personnel.
| Is This Answer Correct ? | 6 Yes | 1 No |
An organization is considering installing a LAN in a site under construction. If system availability is the main concern, which of the following topologies is MOST appropriate? A. Ring B. Line C. Star D. Bus
For an online transaction processing system, transactions per second is a measure of: A. throughput. B. response time. C. turnaround time. D. uptime.
An IS auditor should be involved in: A. observing tests of the disaster recovery plan. B. developing the disaster recovery plan. C. maintaining the disaster recovery plan. D. reviewing the disaster recovery requirements of supplier contracts.
Which of the following is an object-oriented technology characteristic that permits an enhanced degree of security over data? A. Inheritance B. Dynamic warehousing C. Encapsulation D. Polymorphism
When implementing and application software package, which of the following presents the GREATEST risk? A. Uncontrolled multiple software versions B. Source programs that are not synchronized with object code C. Incorrectly set parameters D. Programming errors
Which of the following risks would be increased by the installation of a database system? A. Programming errors B. Data entry errors C. Improper file access D. Loss of parity
Which of the following offsite information processing facility conditions would cause an IS auditor the GREATEST concern? The facility A. is identified clearly on the outside with the company name. B. is located more than an hour driving distance from the originating site. C. does not have any windows to let in natural sunlight. D. entrance is located in the back of the building rather than the front.
Which of the following would be the BEST method for ensuring that critical fields in a master record have been updated properly? A. Field checks B. Control totals C. Reasonableness checks D. A before-and-after maintenance report
When auditing the requirements phase of a software acquisition, the IS auditor should: A. assess the feasibility of the project timetable. B. assess the vendor?s proposed quality processes. C. ensure that the best software package is acquired. D. review the completeness of the specifications.
Which of the following is an implementation risk within the process of decision support systems? A. Management control B. Semistructured dimensions C. Inability to specify purpose and usage patterns D. Changes in decision processes
Which of the following is the MOST effective means of determining which controls are functioning properly in an operating system? A. Consulting with the vendor B. Reviewing the vendor installation guide C. Consulting with the system programmer D. Reviewing the system generation parameters
Which of the following statements relating to packet switching networks is CORRECT? A. Packets for a given message travel the same route. B. Passwords cannot be embedded within the packet. C. Packet lengths are variable and each packet contains the same amount of information. D. The cost charged for transmission is based on packet, not distance or route traveled.
1 Answers Karura Community Chapel,
Cisco Certifications 
