F1 (BT) – Chapter 11 MCQ’s (Control, security and audit) – ACCA

Business-Students.net
October 4, 2022
ACCA, Business and Technology, F1, FIA, MCQs

These are ACCA F1 (BT/FBT) Business and Technology MCQs for Chapter; Control, security and audit.

These MCQs are designed in a way that students could better understand the exam format and get used to practice online. This approach will reduce exam stress and enable students to prepare better.

We request the students, Not to solve the MCQs until they have finished the entire chapter “Control, security and audit”.

All the questions are compulsory, so do not skip any.

INFORMATION ABOUT THESE MCQs Test

Course: ACCA
Fundamental Level: Knowledge, FIA
Subject: Business And Technology
Paper: F1 – BT
Chapter: Control, security and audit
Chapter Number: 11 of the Practice and Exam Kit; and 17 and 18 of the Study Text
Syllabus Area: C – Accounting and reporting systems, technology, compliance and controls
Questions Type: MCQs
Exam Section: Section A

Number of the Questions

These MCQs Test consist of 14 Questions that covers the Chapter; Control, security and audit of ACCA F1 (BT) Business and Technology Module.

Time

These MCQs have a deadline. Students have to finish the Test within the given time period so Students can get used to finishing the Exam in time.

As in ACCA Exam, there are 1.8 minutes per mark. So each 2 marks question have 3.6 minutes to complete.

This Test includes some MCQs that worth 2 marks and some worth 1 Mark. We therefore giving an average time to complete the Test.

This Test has 14 questions, so Students have total 28 minutes to complete the Test.

Result

Students can see their result at the end of the test. Further, the correct and wrong questions. Moreover, the explanation of wrong questions.

Types of Questions

MCQs: Choose one from the given options.
Multiple choice: Choose all those answers which seems to you correct/ or incorrect, as per the requirement of the question. Keep your eye on the wording “(select all those which are correct/ or incorrect)“.
Drop down: Select from the list provided.
Type numbers: Type your answer in numbers as per the requirement of the question.

Keywords

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F1 - Chapter 11 - Part C Test - MCQs and MTQs

1 / 14

Which of the following would be classed as a contingency control in an information system?

Password-only access to the system

System recovery procedures

Audit trails

2 / 14

Which of the following is NOT an internal check?

Pre-lists, post-lists and control totals

Bank reconciliations

Separation of duties for authorising, custody and recording

Systems for authorising transactions within specified spending limits

3 / 14

Which of the following statements about internal audit is true?

Internal audit is separate from the organisation's internal control system

Internal audit is carried out solely for the benefit of the organisation's stakeholders

Internal audit is an independent appraisal activity

The internal audit function reports to the finance director

4 / 14

Which of the following circumstances would cast doubt on the external auditor's ability to rely on the work of internal auditors?

The internal audit function has a direct line of communication to the audit committee

There is evidence that management and directors consistently act on internal audit recommendations

No audit manuals or working papers are available for inspection

Internal auditors are recruited on technical qualifications and demonstrated proficiency

5 / 14

Some controls are provided automatically by the system and cannot be by-passed, ignored or overridden: for example, having to input a password to enter a computer system. These are classified as ............................... controls.

Which term correctly completes this statement?

6 / 14

Which type of audit is concerned with the monitoring of management's performance, concentrating on the outputs of the system and the efficiency of the organisation?

Systems audit

Probity audit

Social audit

Operational audit

7 / 14

In the context of audit, what are 'substantive tests' designed to accomplish?

To establish whether internal controls are being applied as prescribed

To establish the causes of errors or omissions in financial records

To identify errors and omissions in financial records

To establish an audit trail

8 / 14

All of the following, except one, are inherent limitations of internal control systems. Which is the exception?

The independence of controls from the method of data processing

The types of transactions controls are designed to cope with

Potential for human error and deliberate override

The costs of control

9 / 14

The mnemonic SPAMSOAP is often used to remember the range of financial control procedures. What does the 'O' stand for in this mnemonic?

Oversight

Organisation

Operations

10 / 14

Backing up computer files and storing copies of software in separate locations to the main system are examples of which type of controls?

11 / 14

Which of the following statements about external auditors is NOT correct?

External auditors are appointed by the shareholders of a company

External auditors may rely on the work of internal auditors, if they first assess its worth

External auditors are concerned with the financial records and statements of the organisation

The primary responsibility of external auditors is to investigate financial irregularities and report them to shareholders

12 / 14

Which of the following is NOT an aim of internal controls?

To help ensure compliance with applicable laws and regulations

To help ensure the quality of internal and external reporting

To eliminate the possibility of impacts from poor judgement and human error

To enable the organisation to respond appropriately to business, operational and financial risks

13 / 14

In the context of data security controls, ........................ are records showing who has accessed a computer system and what operations he or she has performed.

Which word or phrase correctly completes this definition?

14 / 14

The use of uninterruptible (protected) power supplies is a method of protecting data and IT systems from what sort of security threat?

Weather

Hacking

Accidental damage

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