What is the Internet of Things?

What is the Internet of Things?

A. It is in accounting firms.
B. It is in factories.
C. Most people have it in their homes.
D. All of the above.
E. None of the above.


Answer: D. All of the above.

What does VPN stand for?

a. Virtual Proxy Network
b. Virtual Private Network
c. Virtual Public Network
d. Verified Private Network


Answer: b. Virtual Private Network

Which of the following is NOT a benefit of using a VPN?

a. Security
b. Vulnerable to hacking
c. Mobile
d. Scalable


Answer: b. Vulnerable to hacking

Which of the following is NOT associated with increased security from using a VPN?

Which of the following is NOT associated with increased security from using a VPN?

a. The tunneling protocol
b. Remote access
c. Required username and password
d. Utilizes the same database and client software


Answer: b. Remote access

What ways do Governments plan to replace lost tax revenue? 

a.Taxing digital blueprints?
b.Taxing intellectual property?
c.Niether A or B
d.Both A and B


Answer: d.Both A and B

What is the internet of things?

A. A networks sales system like ebay or amazon.
B. A from of networked communication to build communities like facebook or twitter
C. Connecting any device with an one or off switch to the internet.
D. None of the above


Answer: C. Connecting any device with an one or off switch to the internet.

How can the internet of things help the accounting profession?

How can the internet of things help the accounting profession?

A. It can provide an increase in efficiency via automation.
B. It can increase awareness in the profession of its obsolescence.
C. The technology can make nonelectric things more efficient.
D. All of the above.
E. None of the above


Answer: A. It can provide an increase in efficiency via automation.

What can you print? 

a. Cars
b. Food
c. Organs
d. All of the Above


Answer: d. All of the Above

What aspect of 3D printing are governments most concerned with? 

a. Taxation
b. Flattening of Supply Chains
c. Production of Counterfeits
d. Lack of Regulation


Answer: a. taxation

What is described as the most crucial phase of the Project Management Process?

What is described as the most crucial phase of the Project Management Process? 

A: Planning
B: Controlling
C: Executing
D: Initiation


Answer: D: Initiation

What is the main function of a Software-Defined Infrastructure?

a. Cost effectiveness
b. Efficiency
c. Transparency
d. Human Control


Answer: b. Efficiency

What best describes a Software-Defined Infrastructure?

a. Computing infrastructure entirely under the control of software with no operator or human intervention
b. A branch of computer science dealing with the simulation of intelligent behavior in computers
c. A network that creates an additional layer of security over an insecure network when the network infrastructure cannot provide it
d. It is used to communicate with a database


Answer: a. Computing infrastructure entirely under the control of software with no operator or human intervention

What is the most common, effective scheduling resource?

What is the most common, effective scheduling resource? 

A: Time Cards
B: G-Mail Calendar
C: Gantt Chart
D: Memorization


Answer: C: Gantt Chart

What are 3 benefits to a Software-Defined Infrastructure?

a. Performs multiple, difficult tasks at once
b. Saves time and effort
c. Lower cost of operations and higher utilization of their infrastructure
d. All of the above


Answer: d. All of the above

What are the five steps of project management?

A: Initiation, Review, Acquire Supplies, Execute, Done
B: Initiation, Planning, Execution, Monitor & Control, Closing
C: Start, Talk to Employees, Implement, Review, Finish
D: Execute, Adapt, Discuss, Plan, Repeat


Answer: B: Initiation, Planning, Execution, Monitor & Control, Closing

What is the difference between mobile banking and e-Wallets?

What is the difference between mobile banking and e-Wallets?

a. Mobile banking is more widely accepted at merchant locations
b. Mobile banking allows one to manage his or her bank account while e-Wallets store credit/debit cards, gift cards, and loyalty cards and can be used for purchases
c. There is no difference
d. Mobile banking is for external use while e-Wallets are for personal financial tracking
e. e-Wallets are newer and have not been adopted by consumers or merchants yet


Answer: b. Mobile banking allows one to manage his or her bank account while e-Wallets store credit/debit cards, gift cards, and loyalty cards and can be used for purchases

What is the impact of Bitcoin on accounting?

A. The IRS ruled Bitcoin should be treated like property and the profit should be recognized as a capital gain. Losses can offset the capital gain
B. If you own Bitcoin you should not pay taxes on them
C. Bitcoin need central authority like banks to approve the transactions
D. All Bitcoin transactions are reviewed by auditors
E. Bitcoins are like credit cards because every transaction is easily traceable


Answer: A. The IRS ruled Bitcoin should be treated like property and the profit should be recognized as a capital gain. Losses can offset the capital gain

Mobile wallets can store which of the following:

a. Loyalty cards
b. Gift cards
c. Credit Cards
d. Debit Cards
e. All of the above


Answer: e. All of the above

The October 1, 2015, EMV Fraud Liability Shift:

The October 1, 2015, EMV Fraud Liability Shift:

a. Forced the adoption of e-Wallet technology by merchants
b. Increased the level of credit card fraud in the U.S.
c. Equipped many merchants with the technology to accept e-Wallet usage by prompting upgraded credit card readers
d. Made credit card fraud the sole responsibility of those who choose to use credit cards
e. Incentivized consumers to integrate e-Wallets in their purchasing patterns


Answer: c. Equipped many merchants with the technology to accept e-Wallet usage by prompting upgraded credit card readers

Which of the following about Bitcoin is false?

A. Bitcoin is a digital currency and a digital wallet stores the Bitcoin you own
B. Open sourced software called Blockchain is used to create the Bitcoin
C. People give up computer processing space to mine for Bitcoin
D. Bitcoin is currency that is legal in every country
E. Bitcoin is the first decentralized digital currency


Answer: D. Bitcoin is currency that is legal in every country

Which of the following about Blockchain is false?

A. Blockchain is created through several computers on a peer to peer network
B. Members of the network are anonymous individuals
C. Blockchain maintains a list of all transactions using User ID
D. Once a transaction Is recorded it can not be reversed
E. Blockchain has customer protection


Answer: E. Blockchain has customer protection