accounting quiz 45 minutes 417195

risk assessment.
journals.
subsidiary ledgers.
controlling accounts.

deduction from the balance per the depositor’s books.
deduction from the balance per bank statement.
addition to the balance per bank statement.
addition to the balance per depositor books.

restore public confidence and trust in the financial statements of publicly held companies.
require all companies to prepare financial statements.
protect companies from demands of investors, stockholders, and creditors.
do all of these.

control the internal organization of the accounting department personnel and equipment.
provide reasonable assurance that assets are safeguarded, information is processed accurately, and laws and regulations are complied with.
prevent fraud and promote the social interest of the company.
provide control over Af?cAc‚¬A??ointernal use onlyAf?cAc‚¬ reports and employee internal conduct.

Internal Control Integrated Framework by the Committee of Sponsoring Organizations.
Internal Control Integrated Framework by the Congress of Special Offering.
Internal Control Integrated Framework Commission of Organizations.
Internal Control Localized Structure by the Congress of Special Offerings.

should be prepared by an employee who records cash transactions.
is part of the internal control system.
is for information purposes only.
is sent to the bank for verification.

report on the financial activities of the company.
report on any fraud and theft detected in the company.
report on the state of the economy and likelihood of fraud.
report on the effectiveness of the company’s internal controls.

The control environment
Risk assessment
Control procedures
Monitoring

Information and communication
Monitoring
Control procedures
The control environment

The control environment
Risk assessment
Control procedures
Monitoring