To Obtain Evidence That Controls Over Access to Computer Programs

question 28

Multiple Choice

To obtain evidence that controls over access to computer programs are properly functioning,audit teams most likely would

• A) create checkpoints at periodic intervals after data processing to test for unauthorized use of the system.
• B) examine the transaction log to discover whether any transactions were lost or entered twice due to a system malfunction.
• C) enter invalid identification numbers or passwords to ascertain whether the system rejects them.
• D) vouch a random sample of processed transactions to assure proper authorization.

Comprehend the role of price in signaling market conditions and prompting shifts towards equilibrium.

Understand the concepts and legal implications of referral selling.

Knowledge of how consumer protection laws control abuses of door-to-door sales including the cooling-off period.

Distinction between various financial instruments, including cheques, bills of exchange, and promissory notes.

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Definitions:

Discounted Note

A debt instrument sold for less than its face value that will pay the face value at maturity, effectively providing interest to the holder.

Notes Receivable

Financial assets representing amounts owed to a company, promised to be paid back with interest.

Accounts Receivable Assigned

A financing arrangement where a company uses its receivables as collateral to secure a loan.

Note Payable

A written promise to pay a specific sum of money on a certain date or upon demand to the bearer or order.