Sarbanes-Oxley uses toa. Publicly held companiesb. Privately held businessesc. Not-for-profit organizationsd. All of these


You are watching: Which of the following reflects a weak internal control system?

Which one of the following listed below is not an aspect of inner control?a. Risk assessmentb. Monitoringc. Cost-benefit considerationd. Information and communication
When a for sure uses interior auditors, it is adhering to which of the adhering to internal manage elements?a. Information and also communicationb. Hazard assessmentc. Monitoringd. Proofs and security measures
Which among the following reflects a weak internal manage system?a. Every employees room well supervisedb. A solitary employee is responsible because that comparing a receiving report to an invoicec. A single employee is responsible because that collecting and recording cashd. Every employees need to take your vacations
The bank reconciliationa. Should be prepared by one employee who records cash transactionsb. Is for information purposes onlyc. Is part of the internal regulate systemd. Is sent to the bank for verication
A bank reconciliation should be prepared periodically becausea. Any type of differences between the company"s records and also the bank"s records need to be determined, and any errors do by one of two people party must be discovered and also correctedb. The company"s records and also the bank"s records are in agreementc. The financial institution has not recorded all of its transactionsd. The bank must make sure that its documents are correct
a. Any kind of differences between the company"s records and also the bank"s records should be determined, and also any errors made by either party need to be discovered and corrected
Accompanying the financial institution statement was a debit memo for financial institution service charges. On the bank reconciliation, the items isa. A deduction indigenous the balance every company"s recordsb. A deduction from the balance per bank statementc. An enhancement to the balance every company"s recordsd. An enhancement to the balance per bank statement
The quantity of store in transit is included on the bank reconciliation together a(n)a. Deduction native the balance per the company"s booksb. Enhancement to the balance per financial institution statementc. Enhancement to the balance per agency booksd. Deduction indigenous the balance per financial institution statement
The lot of cash come be reported on the balance sheet at June 30 is thea. Full of the cash pillar in the cash receipts newspaper as that June 30b. Complete of the cash pillar in the cash payments journal as of June 30c. Balance together of June 30 on the financial institution statementd. Changed balance appearing in the financial institution reconciliation because that June 30
Rodgers firm gathered the complying with reconciling information in prepare its May financial institution reconciliation. Calculate the changed cash balance per publications on may 31.Cash balance every books, 5/31- $5400Deposits in transit- 375Notes receivable and also interest gathered by bank-650Bank fee for examine printing- 40Outstanding checks- 2400NSF check- 140a. $4930b. $3845c. $6245d. $5870
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Intermediate Accounting, Binder prepared Version16th EditionDonald E. Kieso, Jerry J. Weygandt, terry D. Warfield
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MyAccountingLab v Pearson eText -- Instant accessibility -- because that Financial Accounting9th EditionCharles T. Horngren


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