Question

1.Production planning and control is part of which transaction cycle?

Select one:

a. Revenue cycle

b. Expenditure cycle

c. Profit cycle

    d. Conversion cycle

2.All the following are examples of database backup controls except:

Select one:

a. Database authorization table

b. Transaction log

c. Checkpoint

d. Recovery module

3.During transaction processing, we may need to access a list of customers who have been granted specific discounts to ensure we apply the correct rates. Such information can be found in:

Select one:

a. Archive file

b. Master file

c. Reference file

d. Transaction file

4.An organization has implemented the maker-checker model to ensure that for each transaction there are at least two individuals to complete it. Which of the broad classes of control activities defined by COSO does this model belong to?

Select one:

a. Accounting records

b. Independent verification

c. Authorization

d. Access control

Answer 1

(1) b. Expenditure cycle

Production planning and control is part of expenditure cycle.It determines use of human resources, machines and equipment, and raw materials etc.

(2) a. Database authorization table

Database authorization table is not the example of database backup controls

(3) d. Transaction file

Transaction file is a collection of transaction record, there are data about the customers, employees vendors etc.Hence, from transaction file we access a list of customers who have been granted specific discounts to ensure we apply correct rates

(4) d. Access control

This model belong to access control.

THANK YOU !