BM2 Unit 1 Test

What is the process of verifying an organization’s accounts and records?

• Budget

• Compliance

• Audit

• Expense

Which of the following describes an organization's ability to function after a disaster?

• Business Continuity

• Management Information System (MIS)

• Zero-Based Budgeting

• Financial Statements

What is the process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for business decision-making?

• Information Management

• Trade Secret

• Data Processing

• Compliance

What term describes an estimate of income and expense for a specific period of time?

• Budget

• Assets

• Rolling Budget

• Sales Forecast

What is unauthorized access to a computer system called?

• Proprietary Information

• Hack

• Spam

• Virus

Which of the following refers to private information that belongs to an organization and cannot be released to the public?

• Proprietary Information

• Trade Secret

• Data Processing

• Compliance

What is the term for money a company owes?

• Assets

• Accounts Payable

• Expense

• Income

Which law mandates that public businesses comply with specific accounting requirements?

• Rolling Budget

• Sarbanes-Oxley Act

• Decision Making

• Information Overload

What is junk email that the recipient did not request?

• Spam

• Virus

• Hack

• Compliance

What is the difference between a budgeted amount and an actual amount?

• Expense

• Variance

• Assets

• Rolling Budget