Which of the following is true of internal​ control?         A. Internal control procedures tend to diminish the importance of operational efficiency.   B. A​ company's outside auditor is responsible for the​ company's internal control system.   C.

Q: Which of the following is not considered to be part of the internal control structure of a company?…

A:

Q: rue or False: Effectiveness is doing the right things of completing activities so that the…

A: The basic meaning of effectiveness in Management is that the concerned person/team has a capability…

Q: S8-1 Defining internal control Internal controls are designed to safeguard assets, encourage…

A: The question is based on the concept of Auditing

Q: Segregation of duties is an important internal control. However,this control is often a challenge…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…

Q: nich of the following is not stated as a primary objective of a company's internal control policies…

A: Internal control is an organization is designed and implemented by management.

Q: Under what circumstances can you envision management using alternative one rather than alternative…

A: We’ll answer the second question since we require more information to answer first question. Please…

Q: 1) The main object of internal controls is to protect the company's assets and financial data. (True…

A: Since we answer only one question, we will answer the first one. Please resubmit the question.…

Q: Which of the following is NOT one of the purposes of internal control? a. to guarantee the success…

A: Internal control involves procedures and policies to ensure the integrity of the accounting…

Q: The objectives of internal control are to a. prevent fraud and promote the social interest of the…

A: Auditing is a process of inspecting the financial accounts of a company in order to determine the…

Q: The main purposes of internal controls include all of the following except Multiple Choice…

A: Correct answer is  increase the operating expenses of publicly traded companies

Q: Which one of the following is not an advantage of internal controls? Select one: a. It safeguards…

A: Internal control is an auditing and accounting tool that ensures operational efficiency and…

Q: Which one of the following is NOT a limitation of internal control? Objectives of internal control…

A:

Q: Which of the following is not a purpose of internal controls?     Guarantee profits     Protect…

A: Internal control can be defined as a system to follow the rules and mechanism in the organisation so…

Q: Under what circumstances can you envision management using alternative one rather than alternative…

A: Under what circumstances can you envision management using alternative ones rather than alternative…

Q: Which of the following is not considered to be part of the internal control structure of a…

A: Every business organisation has its own objectives and goals. Business wants to achieve that goals…

Q: Which of the following items is an example of an inherent limitation in an intrnal control system?…

A: Internal control defined as the process designed,implemented and maintained by management,those…

Q: Who oversees the organization’s system of internal control? a. None of the choices b. Process…

A: The internal controls are related to the organisation behaviour and process.

Q: To what extent do auditors contribute to the smooth functioning of a company? Using appropriate…

A: Auditing: Cross-checking financial records with physical inventory and other data is called…

Q: The auditor’s primary consideration is whether, and how, internal control prevents, or detects and…

A: Auditors are appointed to audit the financial statements of the company to check whether the…

Q: A company limits access to computerized accounting records. What can be said of this procedure? a.It…

A: Limited Access Control: Limited access control is a type of control that provides limited access to…

Q: The factors affecting control risk include: O The environment in which the company operates The…

A: CONTROL RISK IS THE LIKELIHOOD THAT A MATERIAL MISSTATEMENT WOULD NOT BE CAUGHT BY THE CLIENT'S…

Q: Question 1 (i) Which of the following statements is true? A. Conflicts of interests between…

A: When faced with multiple choice question, one of the techniques that can be engaged is the…

Q: ties of Internal IT Developer of company is to write application programs and then perform required…

A: Segregation of duties refers to the internal control design made to disperse the duties in order to…

Q: What is the concept behind separation of duties in establishing internal control? a. Employee fraud…

A: Answer:   Option a

Q: Select the appropriate control activities for each of the following definitions. Definitions Control…

A: a. Physical control

Q: S8-1 Definition of internal control Internal controls are designed to safeguard assets, encourage…

A: The Four Most Important Objectives are : Ensuring Accurate Records Promotes Operational Efficiency…

Q: Segregation of duties is an important concept in internal control. However, segregation of duties is…

A: Segregation of duties: It refers to assigning various duties associated with the same process. It…

Q: Which of the following is an attribute of the internal control procedure—assignment of​…

A: The process by which the operational efficiency and effectiveness in the organizational objectives…

Q: system of supervision and control

A: Option a is wrong because internal check is the test to verify the given item or procedure. It is…

Q: Internal control does not consist of policies and procedures that a. ensure employees and managers…

A: Internal control consists of policies and procedures which is implemented in the organisation so…

Q: Which of the following is not considered to be part of the internal control structure of a company?…

A: Answer:  Publish accurate financial statements on a regular basis.

Q: internal

A: Ans. Gaps in internal control procedure may result in frauds or errors in an organisation.

Q: Which of the following benefits of an effective accounting information system provides safeguards…

A: Definition:   Accounting information system (AIS): An accounting information system (AIS) is a…

Q: nternal control can only provide reasonable, not absolute, assurance of achieving entity control…

A: Introduction:- Internal controls are the rules, and regulations and certain procedures executed by a…

Q: What types of physical controls are in place to protect company assets (assets include inventory,…

A: Hi, since you have posted multiple questions, we are solving the 1st question for you. To get the…

Q: Which one of the following is not an objective of a system of internal controls? Select one: 1.…

A: Internal controls are the mechanisms, rules, and procedures implemented by a company to ensure the…

Q: 1. Cite specific examples of risk avoidance, Reduction, Transfer and Retention? 2. What is the…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 4 Which of the following is true about the Sarbanes-Oxley Act?A. It was passed to ensure that…

A: Internal controls are the mechanisms, rules, and procedures that a company implements to ensure the…

Q: .Which of the following control objectives in the General Ledger activities under the…

A: Answer: There are control objectives for General ledger activities under record to report process.

Q: Why is there a need on the part of the client entity to monitor internal controls over time? a.…

A: Internal Control- It is a process which is made by the entity to put control on its operations and…

Q: Management oversight on internal controls and communication is a key in successfully implementing…

A: Internal controls seem to be processes used inside a corporation to adequately assure compliance…

Q: 1. The assessed level of control risk can be expressed in quantitative or non-quantitative terms.…

A: $1. The assessed level of control risk can be expressed in quantitative or non-quantitative terms.…

Q: S1: Smaller companies tend to maintain less formal means and simpler processes and procedures in…

A: Audit is the detailed process of verification of financial statements and books of accounts of the…

Q: rimary role of internal controls in managing a business? a.To ensure that the financial statements…

A: