31 controls prevent detect and correct transaction errors and fraud a application b 4306123

31 controls prevent detect and correct transaction errors and fraud a application b 4306123

31) ________ controls prevent, detect and correct transaction errors and fraud.

A) Application

B) Detective

C) General

D) Preventive

32) The primary purpose of the Foreign Corrupt Practices Act of 1977 was

A) to require corporations to maintain a good system of internal control.

B) to prevent the bribery of foreign officials by American companies.

C) to require the reporting of any material fraud by a business.

D) All of the above are required by the act.

33) Congress passed this federal law for the purpose of preventing financial statement fraud, to make financial reports more transparent and to strengthen the internal control of public companies.

A) Foreign Corrupt Practices Act of 1977

B) The Securities Exchange Act of 1934

C) The Sarbanes-Oxley Act of 2002

D) The Control Provision of 1998

34) Which of the following is not one of the important aspects of the Sarbanes-Oxley Act?

A) The creation of the Public Company Accounting Oversight Board

B) New rules for auditors and management

C) New roles for audit committees

D) New rules for information systems development

35) A(n) ________ helps employees act ethically by setting limits beyond which an employee must not pass.

A) boundary system

B) diagnostic control system

C) interactive control system

D) internal control system

36) A(n) ________ measures company progress by comparing actual performance to planned performance.

A) boundary system

B) diagnostic control system

C) interactive control system

D) internal control system

37) A(n) ________ helps top-level managers with high-level activities that demand frequent and regular attention.

A) boundary system

B) diagnostic control system

C) interactive control system

D) internal control system

38) This control framework addresses the issue of control from three vantage points: business objectives, information technology resources, and information technology processes.

A) ISACA's control objectives for information and related technology

B) COSO's internal control framework

C) COSO's enterprise risk management framework

D) none of the above

39) This control framework's intent includes helping the organization to provide reasonable assurance that objectives are achieved and problems are minimized, and to avoid adverse publicity and damage to the organization's reputation.

A) ISACA's control objectives for information and related technology

B) COSO's internal control framework

C) COSO's enterprise risk management framework

D) none of the above

40) The COSO Enterprise Risk Management Framework includes eight components. Which of the following is not one of them?

A) control environment

B) risk assessment

C) compliance with federal, state, or local laws

D) monitoring

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