CHAPTER 8: Textbook: Example Exercises Flashcards Preview

2017FA PRIN FIN ACCOUNTING (ACCT-2301-02) > CHAPTER 8: Textbook: Example Exercises > Flashcards

Flashcards in CHAPTER 8: Textbook: Example Exercises Deck (4)
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1
Q

Example Exercise 8-1: Internal Control Elements

Identify each of the following as relating to

(a) the control environment,
(b) risk assessment, or
(c) control procedures.

Mandatory vacations

A

(c) control procedures

2
Q

Example Exercise 8-1: Internal Control Elements

Identify each of the following as relating to

(a) the control environment,
(b) risk assessment, or
(c) control procedures.

Personnel policies

A

(a) the control environment

3
Q

Example Exercise 8-1: Internal Control Elements

Identify each of the following as relating to

(a) the control environment,
(b) risk assessment, or
(c) control procedures.

Report of outside consultants on future market changes

A

(b) risk assessment

4
Q
A