UTK INMT 341 Final Exam Actual UPDATED 108

UTK INMT 341 Final Exam (Actual / ) UPDATED 108 Questions And 100% Verified CORRECT Answers

Governance Governing/managing processes, technology, and systems

Risk Management Identifying (and controlling) the risks associated with processes, technologies, and systems

Compliance Adhering to the laws and regulations that govern organizations (which can vary based on industry, location, and organizational structure)

What is the document with the payment and is part of the sales invoice Remittance Advice

What is it called when you get credit approval without documented payment history 1 / 3

Specific authorization

Why should inventory be checked?To check if it can be fulfilled or if it will be on backorder

What are the benefits of two-way matching Reduces the time lag between receipt of goods and recording financial measurements

What is a customer order When a purchasing agent generates a document to order goods from a vendor and the vendor receives it (what the vendor calls it)

Defense in Depth The concept of protecting a computer system with a series (layers) of defensive mechanisms such that if one mechanism fails, another will already be in place to detect or prevent an attack

Time Influence on Controls 2 / 3

P > (D+C)

General Controls Apply to all areas of an organization and include internal accounting controls, operational controls, administrative controls, organizational security policies, etc

IS-Specific Controls

Include: strategy and direction of the IT function, general

organization and management of the function, access to resources, database admin, etc.

IT General Controls (ITGC) a combination of hardware, software, and manual procedures that create an overall control environment. They are essential to ensure that information systems are reliable and that behavior can be predicted, system-wide

IT Application Controls Specific controls unique to each computerized application, such as payroll or order processing

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