Sarbanes-Oxley uses toa. publicly hosted companiesb. privately organized businessesc. not-for-profit organizationsd. all of these


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

Which one of the following listed below is not an facet of inner control?a. danger assessmentb. monitoringc. cost-benefit considerationd. indevelopment and also communication
When a firm provides inner auditors, it is adhering to which of the complying with internal regulate elements?a. information and also communicationb. risk assessmentc. monitoringd. proofs and also defense measures
Which one of the adhering to shows a weak internal manage system?a. all employees are well supervisedb. a solitary employee is responsible for comparing a receiving report to an invoicec. a single employee is responsible for collecting and also recording cashd. all employees have to take their vacations
The financial institution reconciliationa. have to be ready by an employee who records cash transactionsb. is for information objectives onlyc. is part of the interior regulate systemd. is sent out to the financial institution for verication
A financial institution reconciliation must be prepared periodically becausea. any type of differences in between the company"s documents and the bank"s records need to be identified, and any kind of errors made by either party have to be uncovered and correctedb. the company"s documents and the bank"s records are in agreementc. the bank has not tape-recorded all of its transactionsd. the financial institution must make sure that its records are correct
a. any kind of distinctions between the company"s records and the bank"s documents should be determined, and any type of errors made by either party must be discovered and corrected
Accompanying the financial institution statement was a debit memo for bank business charges. On the bank reconciliation, the item isa. a deduction from the balance per company"s recordsb. a deduction from the balance per financial institution statementc. an enhancement to the balance per company"s recordsd. an addition to the balance per financial institution statement
The amount of deposits in transit is contained on the bank reconciliation as a(n)a. deduction from the balance per the company"s booksb. enhancement to the balance per financial institution statementc. addition to the balance per company booksd. deduction from the balance per financial institution statement
The amount of cash to be reported on the balance sheet at June 30 is thea. full of the cash column in the cash receipts journal as of June 30b. full of the cash column in the cash payments journal as of June 30c. balance as of June 30 on the financial institution statementd. changed balance appearing in the financial institution reconciliation for June 30
Rodgers Company gathered the adhering to reconciling indevelopment in preparing its May financial institution reconciliation. Calculate the readjusted cash balance per books on May 31.Cash balance per publications, 5/31- $5400Deposits in transit- 375Notes receivable and interest collected by bank-650Bank charge for inspect printing- 40Outstanding checks- 2400NSF check- 140a. $4930b. $3845c. $6245d. $5870
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Intermediate Accounting, Binder Ready Version16th EditionDonald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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MyAccountingLab with Pearchild eText -- Instant Access -- for Financial Accountingnine EditionCharles T. Horngren


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