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A key advantage of developing a computer application by using the prototyping approach is that it:

A.

Does not require testing for user acceptance.

B.

Allows applications to be portable across multiple system platforms.

C.

Is less expensive since it is self-documenting.

D.

Better involves users in the design process.

An organization's balance sheet indicates that the total asset amount and the total capital stock amount remained unchanged from one year to the next, and no dividends were declared or paid. However, the organization reported a loss of $200,000. Which of the following describes the most likely year-over-year change to the organization's total liabilities and total stockholder equity?

A.

The total liabilities and total stockholder equity both increased.

B.

The total liabilities and total stockholder equity both decreased.

C.

The total liabilities decreased, and the total stockholder equity increased.

D.

The total liabilities increased, and the total stockholder equity decreased.

Which of the following phases of a business cycle are marked by an underuse of resources?

1) The trough.

2) The peak.

3) The recovery.

4) The recession.

A.

1 and 3 only

B.

1 and 4 only

C.

2 and 3 only

D.

2 and 4 only

A department purchased one copy of a software program for internal use. The manager of the department installed the program on an office computer and then made two complete copies of the original software.

Copy 1 was solely for backup purposes.

Copy 2 was for use by another member of the department.

In terms of software licenses and copyright law, which of the following is correct?

A.

Both copies are legal.

B.

Only copy 1 is legal.

C.

Only copy 2 is legal.

D.

Neither copy is legal.

Which of the following is not a method for implementing a new application system?

A.

Direct cutover.

B.

Parallel.

C.

Pilot.

D.

Test.

When granting third parties temporary access to an entity's computer systems, which of the following is the most effective control?

A.

Access is approved by the supervising manager.

B.

User accounts specify expiration dates and are based on services provided.

C.

Administrator access is provided for a limited period.

D.

User accounts are deleted when the work is completed.

Which of the following statements accurately describes one of the characteristics that distinguishes a multinational company from a domestic company?

A.

A multinational company has stockholders in other countries.

B.

A multinational company exports its products to other countries.

C.

A multinational company operates outside of its country of origin.

D.

A multinational company uses raw materials and components from more than one country.

Which of the following statements about slack time and milestones are true?

1) Slack time represents the amount of time a task may be delayed without delaying the entire project.

2) A milestone is a moment in time that marks the completion of the project's major deliverables.

3) Slack time allows the project manager to move resources from one task to another to ensure that the project is finished on time.

4) A milestone requires resource allocation and needs time to be completed.

A.

1 and 4 only

B.

2 and 3 only

C.

1, 2, and 3 only

D.

1, 2, 3, and 4

A capital investment project will have a higher net present value, everything else being equal, if it has:

A.

A higher initial investment level.

B.

A higher discount rate.

C.

Cash inflows that are larger in the later years of the life of the project.

D.

Cash inflows that are larger in the earlier years of the life of the project.

Which of the following is true regarding the COSO enterprise risk management framework?

A.

The framework categorizes an organization's objectives to distinct, non overlapping objectives.

B.

Control environment is one of the framework's eight components.

C.

The framework facilitates effective risk management, even if objectives have not been established.

D.

The framework integrates with, but is not dependent upon, the corresponding internal control

framework.