BEC - 19

Question 1

Validity check

Answer 1

Determines whether a character is legit item of the given character set. The validity check ascertains whether a given character is within the desired group (e.g. a field indicating second an individual where F=female and M=Male would not accept “A” being coded)

Question 2

The component of COSO’s framework for internal control that includes the goal of proper measurement of transactions is

Answer 2

Information and communication

Question 3

Financing some current assets with long-term debt is considered to be

Answer 3

A conservative financing policy

Financing permanent working capital with long-term debt is considered to be a conservative policy

Question 4

What are the major components of real GDP?

Answer 4

Total worker hours and labor productivity

Question 5

Payback method formula

Answer 5

Initial Investment / Annual Cash Flow

Question 6

Marginal Revenue defined

Answer 6

the amount of additional revenue received from the sale of one additional unit

Question 7

In the COSO framework, individuals within the company that monitor internal controls are referred to as ________________

Answer 7

Evaluators

Question 8

ABC is based on 2 principles;

Answer 8

1. Activities consume resources.
2. These resources are consumed by products, services, or other cost objectives (output)

ABC allocates overhead costs to products on the basis of the resources consumed by each activity involved in the design, production, and distribution of a particular good.

Question 9

Six-sigma is a statistical measure expressing how close a product comes to its quality goal. Six-sigma is x% perfect with Y defects per million parts

Answer 9

99. 999997%

3. 4 defects per million parts

Question 10

Most client/server applications operate on a three-tiered architecture consisting of which of the following layers?

Answer 10

Desktop client, application, and database