Years ago, the company purchased a software package that was used by other companies in the same industry (it was not a specially made software). It was sold by a leading software company known for their highly rated products. Which management assertions apply to this control? Existence & Occurrence, Rights, Completeness, Valuation

Years ago, the company purchased a software package that was used by other companies in the same industry (it was not a specially made software). It was sold by a leading software company known for their highly rated products. Which management assertions apply to this control? Existence & Occurrence, Rights, Completeness, Valuation

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter1: The Information System: An Accountant’s Perspective

Section: Chapter Questions

Problem 14MCQ: Which of the following statements is most accurate? a. ERP systems are commercial software packages...

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4. Years ago, the company purchased a software package that was used by other companies
in the same industry (it was not a specially made software). It was sold by a leading
software company known for their highly rated products.
Which management assertions apply to this control? Existence & Occurrence, Rights, Completeness, Valuation

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3. Which of the following is not a computer facility control? (a) Place the data processing center where unauthorized individuals cannot gain entry to the facility. (b) Limit access to the data processing center all employees of the company. (c) Buy insurance to protect against loss of equipment in the computer facility. (d) Use advanced technology to identify individuals who are authorized access to the data processing center. 4.For internal control over computer program changes, a policy should be established requiring that: (a) All proposed changes be approved by a responsible individual and logged. (b) The programmer designing the change should be responsible for ensuring that the revised program is adequately tested. (c) All program changes be supervised by the information system control group. (d) To facilitate operational performance, superseded portions of programs should not be deleted from the program run manual. 5. Auditing "around the computer": (a) Assumes that accurate…
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