New system development activity controls must focus on the authorization, development, and implementation of new systems and its maintenance. Discuss at least five control activities that are found in an effective system development life cycle
System authorization activities assure that all systems are properly authorized to ensure their economic justification and feasibility.
User specification activities should not be stifled by technical issues. Users can provide written description of the logical needs that must be satisfied by the system.
Technical design activities must lead to specifications that meet user needs. Documentation is both a control and evidence of control.
Internal audit involvement should occur throughout the process to assure that the system will serve user needs.
Program testing is to verify that data is processed as intended.
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A recent study conducted by CMOR study indicated that consumers prefer ________ surveys versus the ________ method of surveys
A) telephone; Internet B) mail; telephone C) Internet; mail D) Internet; telephone
The cost of a building to be used in the operations of a business should usually include all of the following except
a. cost of renovation to prepare the building for its intended use. b. costs of building permits related to expansion of the building begun after acquisition. c. property taxes related to periods prior to acquisition that are assumed by the buyer. d. costs incurred to have existing buildings removed to make room for the construction of new buildings.
A company is considering a 5-year project. The company plans to invest $60,000 now and it forecasts cash flows for each year of $16,200. The company requires a hurdle rate of 12%. Calculate the internal rate of return to determine whether it should accept this project. Selected factors for a present value of an annuity of $1 for five years are shown below:Interest ratePresent value of an annuityof $1 factor for year 510%3.790812%3.604814%3.4331
A. Only 9% is acceptable. B. The project earns more than 10% but less than 12%. At a hurdle rate of 12%, the project should be rejected. C. Only 10% is acceptable. D. The project should be rejected because it earns less than 10%. E. The project should be accepted.
You have been charged with finding out whether your company has violated the concept of comparable worth. After gathering all the facts, you find the company guilty because
A. jobs requiring about the same level of training and skill receive significantly different pay. B. equal jobs are paid equally. C. unequal jobs are paid unequally. D. equal jobs are paid unequally. E. jobs requiring about the same education receive the same pay.