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EXAM 1 (PRACTICE) PART I – MULTIPLE CHOICE 1. Which section of Sarbanes-Oxley Act requires auditors to report on the effectiveness of an organization's system of internal control? a. 404 b. 409 c. both d. neither 2. A(n) ________ is a set of interdependent elements that together accomplish specific objectives. a. accounting information system b. enterprise system c. information system d. system 3. The quality of information that enables users to perceive the information's significance is: a. comparability. b. feedback value. c. predictive value. d. understandability. 4. Software packages that can be used for the core systems necessary to support enterprise systems are known as: a. accounting information systems. b. database management systems. c. enterprise resource planning systems. d. executive information systems. 5. Major core applications of an ERP include: a. financial accounting. b. materials management. c. sales and distribution. d. all of the above. 6. Which ERP module incorporates business events into the general ledger accounts and external statements, the balance sheet, profit and loss statement, and statement of cash flows? a. financial accounting (FI) b. controlling (CO) c. materials management (MM) d. sales and distribution (SD)
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7. Which statement is false? a. An enterprise system's central database retains multiple versions of data elements. b. Enterprise systems can collect a wide variety of data about business events and make that data available for use by all interested, and authorized, parties inside and outside the organization. c. Organization-wide enforcement of data standards and business rules means that business events will be handled consistently across the organization. d. The integrated nature of the enterprise system makes all data available in a timely manner. 8. A graphical representation of a business process including information processes (inputs, data processing, data storage, and outputs), as well as the related operations processes (people, equipment, organization, and work activities) is known as a(n): a. context diagram. b. data flow diagram. c. entity-relationship diagram. d. systems flowchart. 9. A graphical representation of a system showing the system's processes (as bubbles), data stores, and the flows of data into and out of the processes and data stores is a: a. context diagram. b. logical data flow diagram. c. physical data flow diagram. d. system flowchart. 10. The following systems flowchart describes how a data entry clerk key enters data on a source document into business event data. Which statement describes whether the systems flowchart was created properly? a.
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