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BEC - CPA > Test Bank > Flashcards

Test Bank Flashcards

1
Q

what is profitability index?

A

Net Present Value of the Project / Initial Cost of Project

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2
Q

Private Key Encryption also called as ?

A

Single key encryption

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3
Q

Who designs computer system?

A

Systems analyst

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4
Q

Headers are used to identify?

A

Data Records in accounting system file

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5
Q

In perfect monopoly, marginal revenue is?

A

Below the demand curve and curve diverge as quantity increases

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6
Q

Form 941

A

Aggregate payroll tax withholding and payments

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7
Q

FIFO EU

A

Total completed - BI +Proportionate CP completed EI +Proportionate CP completed BI (Cost is always CP)

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8
Q

WA EU

A

Total Completed + Proportionate completed EI (cost is always B+CP)

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9
Q

SaaS

A

Use of cloud to access software

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10
Q

PaaS

A

Use of cloud to create software

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11
Q

IaaS

A

Use of cloud to access virtual hardware

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12
Q

Kinked demand curve

A

Oligopoly sellers will match price decrease but hesitant to match increase

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13
Q

Oligopoly

A

there are few sellers, actions known and impact others. Price charged is greater than marginal cost

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14
Q

Hybrid System

A

Distributed database system

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15
Q

Perfect competition

A

Demand curve horizontal line and is perfectly elastic and any quantity can be sold at the same price

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16
Q

Monopoly

A

Price Discrimination

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17
Q

Profit is maximized when?

A

Marginal Revenue = Marginal Cost

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18
Q

Source Program Library Management System (SPLMS)

A

management of changes to applications

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19
Q

Basis Risk

A

Hedging Ineffective

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20
Q

Systems Programmers

A

Responsible for system software incl. operating systems and compilers

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21
Q

Options : Favorable and Unfavorable

A

Favorable - In the money (Strike Price Vs Market Price of stock) and Unfavorable - Out of the money

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22
Q

Weighted average of expected returns of assets in portfolio is equal to

A

Expected Return of a Portfolio

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23
Q

Physical controls over assets is

A

Application or Transaction controls

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24
Q

SOC 1 Report

A

ICFR (limited distribution)

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25
Q

SOC 2

A

Sys Trust Principles (limited)

26
Q

SOC3

A

Essence of Sys Trust Principles

27
Q

Correlation Coefficient strongest relationship of I & D variables

A

Close to -1 or +1

28
Q

Sales Volume Variance

A

Variance between budgeted numbers only. Variance between Static and Flexible Budgets

29
Q

Static Budget Variance

A

Variance between Sales Volume variance and Flexible Budget variance

30
Q

Syndication Agreements

A

agreement between group of bankers and investors to create financial transaction with shared risk

31
Q

Appreciation of domestic currency

A

Purchasing Power of domestic currency is more

32
Q

Depreciation of Domestic currency

A

Purchasing power of domestic currency is less

33
Q

How to decrease IRR?

A

Increase Investment Cost or Decrease Annual Cash inflow to get high PV which leads to lower IRR

34
Q

Kinds of transfer pricing?

A

Full cost, market price, negotiated and variable cost

35
Q

A general decline in prices of goods/services and level of interest rates?

A

Deflation (not recession - which is contraction in the economy)

36
Q

IT controls are?

A

General Controls (neither preventive nor detective)

37
Q

Crowdfunding?

A

A company can raise max of $1M in 12 month period.

38
Q

Data classification is?

A

Privacy and security of data

39
Q

Calculation of GDP?

A

personal consumption expenditures, plus gross private domestic fixed investment, plus government expenditures, adjusting for net exports and changes in business inventories. Household income is not included in the formula.

40
Q

Multiplier Effect

A

Initial change in spending*(1/(1-MPC))

41
Q

Confidence Interval

A

range of values within which, with a specific degree of uncertainly, the true value lies

42
Q

Data mining

A

new insights and relationship

43
Q

Unrelated areas for internal control

A

expenditure cycle vs sales/revenue cycle

44
Q

Primary Key

A

Customer ID

45
Q

Foreign Key

A

To identify another record

46
Q

Net proceeds from sale of by products are used to reduce joint cost?

A

no profit realized on the sale of by products

47
Q

Redundant backups approach

A

Grandfather-father-son (monthly-weekly-daily)

48
Q

Expert System

A

Integrates advice for a user

49
Q

M1 measure

A

Includes Currency, coins, check writing deposit

50
Q

Sox 2002, anyone who alters, destroys and cover up

A

20 years imprisonments to obstruct investigation

51
Q

Natural Monopoly

A

Increasing returns to Scale

52
Q

Interest Expense

A

Remains constant and should not be adjusted for inflation

53
Q

Normal Profit

A

Revenue - Sum of (Explicit & Implicit Costs)

54
Q

Accounting Rate of Return

A

Average Net Income / Average Investment

55
Q

Components of real GDP

A

Total worker hours and labor productivity

56
Q

Technology-SOD

A

Programming, operating and library functions to be segregated

57
Q

NNP

A

GNP-Depreciation

58
Q

Floating lien agreement

A

Borrower gives the lender a lien but retains control of inventory by selling or replacing

59
Q

Chattel mortgage agreement

A

Borrower gives the lender a lien but retains control of inventory but cannot sell without approval

60
Q

Terminal warehouse agreement

A

Pledged Inventory in public warehouse

61
Q

Field warehouse agreement

A

Pledged Inventory in borrower’s warehouse but under control of independent 3rd party

62
Q

Return on Investment (ROI)

A

Profit Margin * Asset Turnover

BEC - CPA (1 decks)

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