ACC 340 Complete Class Guide

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ACC 340 Final Exam Guide
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1. The process by which a financial transaction is recorded so that its flow through the system can be followed is called:
a) Financial shadowing
b) Managerial trace technique
c) Concatenation
d) Audit trail 2. Justifying expenditures for new technologies is especially difficult because:
a) You do not know how many jobs will be affected
b) Expenses are often recurring and are difficult to estimate
c) Many benefits are intangible and are not easily known or measured
d) Justifying a new technology is no different from any other capital budgeting problem 3. The essential steps in performing a systems study are (in order of occurrence):
a) Analysis, design, implementation and initial operation, follow?up
b) Design, planning, follow?up, analysis, and implementation
c) Planning, system specification, analysis, production, implementation
d) Planning, analysis, design, implementation, and follow?up 4. What is the first step to be performed by most organizations in their accounting cyclesa) Recording business transactions in a journal
b) Preparing a trial balance
c) Recording closing entries in a journal
d) Preparing transaction source documents
e) none of the above 5. Which systems study step is normally performed firsta) Design
b) Initial operation
c) Follow?up
d) Analysis
e) none of the above 6. The purpose of a company firewall is to:
a) Guard against spoofing
b) Assist the IETF
c) Deny computer hackers access to sensitive data
d) all of the above 7. The term data encryption refers to:
a) Storing data in safe places called “crypts”
b) Transforming data into secret codes
c) Scrambling data in…

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