Advanced ITT Audit Software Quiz

A method of capital budgeting that considers the time value of money and calculates the present value of future cash flows, taking into account the discount rate.

A capital budgeting method that calculates the expected return on an investment, expressed as a percentage.

A method of capital budgeting that determines the time it takes for an investment to generate enough cash flow to recover the initial investment.

A systematic process of identifying, analyzing, and evaluating potential risks to individuals, businesses, or government agencies.

A type of risk analysis that does not involve quantitative calculations or probabilities, focusing on identifying and describing risks using qualitative judgments and assessments.

A network that connects computers in a limited geographical area, such as a single building or campus.

The process of creating software that meets specific requirements, using appropriate hardware and communication systems.

The process of managing and storing computer security logs, ensuring they are detailed enough and kept for a proper duration.

Virtual Local Area Networks (VLANs) are used to logically separate servers within a central data centre.

A process that verifies data input against pre-defined criteria to ensure its accuracy and compliance.

A technique for evaluating how changes in a model's input variables affect its output.

A method for analyzing and visualizing the outcome of various potential future conditions.

A financial function in Excel used to calculate the periodic payment for a loan.

A common method for financing property like buildings and equipment.

A technique for breaking down Return on Equity (ROE) into its key components.

Used to specify the allowed input values for a cell, restricting it to a predefined list.

Dividing a window in Excel into four separate panes.

The stage where you carefully identify all the elements (fields) needed for your database project.

Tables in a database are connected by relationships, showing how data in one table affects data in another. This stage is essential for ensuring accurate data flow and efficient database operations.

A dependent query is a query that relies on data from another table. When the data in the source table is updated, the related query will automatically update too.

A switchboard form is a central hub for navigating different parts of your Access database. It's like a main menu, giving users easy access to various features.

Creating a report based on a query is a key difference compared to a report based on a single table. Query-based reports allow you to filter data from multiple tables based on specific criteria.

When you create a label report, you can enter plain text directly into the label design, along with any other relevant information.

Refreshing a PivotTable updates the data displayed based on changes made to the source data. This ensures the PivotTable reflects the latest information.

A PivotTable allows for data analysis and summarization by dynamically grouping and rearranging fields. It can be viewed in different visual representations like a table format or charts.

Lookup Wizard is a feature in Access that allows you to create a drop-down list of values from another table or query. This simplifies selecting data.

A query in Access allows data retrieval from one or more tables based on specific criteria. This helps you filter information for specific analysis.

DML stands for Data Manipulation Language, which provides commands for interacting with data in a database, including inserting, updating, and deleting records.

DCL, standing for Data Control Language, provides commands for managing access and security privileges within a database.

A Network Database is a database model that allows complex data relationships. Data can be linked to multiple other pieces of data, creating a network-like structure.

Relational Database Model is a structured model for storing and organizing data using tables with rows (records) and columns (fields). Each piece of data is connected through relationships.

In IDEA, summarization aggregates the values of numeric fields for each record in a table. This is useful to get a quick overview of the data.

In sampling, systematic sampling selects sampling units at regular intervals, like every 10th record. This provides a systematic selection from the population.

Random sampling ensures all combinations of sampling units within the population have an equal chance of being selected. This ensures a truly representative sample.

Input control methods are a crucial part of application controls in an organization. They help ensure the accuracy and integrity of data entered into the system.

Field checks are used to verify if data entered into a field complies with the defined format, like checking if a date field is in the correct format (e.g., MM/DD/YYYY).

In RTGS (Real-Time Gross Settlement), money transfers happen on a one-to-one basis, while in NEFT (National Electronic Funds Transfer), transfers are done in batches.

All money transfers, whether through RTGS or NEFT, take place within the books of the central bank, such as the Reserve Bank of India (RBI), to ensure smooth and secure transactions.

RTGS (Real-Time Gross Settlement) is primarily used for large transactions, as it provides immediate and irrevocable settlement of funds.