QUESTION 1

1. Due to the nature of technology, different internal control objectives apply to manual and computer-based information systems.

   True

   False

1 points

QUESTION 2

1. External auditors can cooperate with and use evidence gathered by internal audit departments that are organizationally independent and that report to the audit committee of the board of directors.

   True

   False

1 points

QUESTION 3

1. Audit risk is the probability that the auditor will render an unqualified (clean) opinion on financial statements that are fairly presented without material errors.

   True

   False

1 points

QUESTION 4

1. A strong internal control system will reduce the amount of substantive testing that must be performed.

   True

   False

1 points

QUESTION 5

1. ERP systems can be installed uses three (3) different installation approaches: Little Bang, Big Bang and Phase-In.

   True

   False

1 points

QUESTION 6

1. Day-to-day transactions are stored in the operational database.

   True

   False

1 points

QUESTION 7

1. If a chosen ERP cannot handle a specific company's business process bolt-on software may be available.

   True

   False

1 points

QUESTION 8

1. Core applications are also called OLAP.

   True

   False

1 points

QUESTION 9

1. The big-bang approach involves converting from old legacy systems to the new ERP in one implementation step.

   True

   False

1 points

QUESTION 10

1. Data mining typically focuses on the data warehouse database.

   True

   False