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CIS-SPM

Exam Code: CIS-SPM

Exam Name: Certified Implementation Specialist - Strategic Portfolio Management

Version: V22.75

Q & A: 580 Questions and Answers

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NEW QUESTION: 1
HOTSPOT





Answer:
Explanation:

Explanation:
Object Properties
The name:values pairs (in JavaScript objects) are called properties.
var person = {firstName:"John", lastName:"Doe", age:50, eyeColor:"blue"}; Reference: JavaScript Objects

NEW QUESTION: 2
You have a computer named Computer1 that runs Windows 10.
On Computer1, C:\Folder1 has the permissions configured as shown in the following table.
You share C:\Folder1 as Folder1 and you grant access to the Everyone group.
Folder1 has the following share settings:

What level of access does User1 have to Folder1?
A. User1 can see the Folder1 share on the network but cannot connect to Folder1.
B. User1 cannot see the Folder1 share on the network but can connect to Folder1.
C. User1can see the Folder1 share on the network and can connect to Folder1.
D. User1 cannot see the Folder1 share on the network and cannot connect to Folder1.
Answer: C

NEW QUESTION: 3
Which of the following internal control procedures most likely would deter lapping of collections from
customers?
A. Segregation of duties between receiving cash and posting the accounts receivable ledger.
B. Authorization of write-offs of uncollectible accounts by a supervisor independent of credit approval.
C. Independent internal verification of dates of entry in the cash receipts journal with dates of daily cash
summaries.
D. Supervisory comparison of the daily cash summary with the sum of the cash receipts journal entries.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Choice "C" is correct. Lapping is a defalcation in which a cash shortage is concealed by applying later
customer remittances to a receivable account from which money was stolen. Lapping can be deterred by
appropriate segregation of duties between receiving cash and posting to the accounts receivable ledger.
This makes it more difficult for the employee who is stealing the cash to cover it up through inappropriate
remittance credits.
Choice "A" is incorrect. Even with a lapping scheme, the dates of cash receipts journal entries and the
dates of daily cash summaries would still agree, since the stolen funds would be excluded from both
places and subsequent receipts would be included in both places.
Choice "B" is incorrect. The authorization of write-offs of uncollectible accounts by a supervisor
independent of credit approval would not deter lapping, since lapping schemes do not involve write-offs.
Choice "D" is incorrect. Even with a lapping scheme, the daily cash summary would still agree with the
sum of the cash receipts journal entries. Stolen funds would be excluded from both places and subsequent
receipts would be included in both places.

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