Centralization reflects
A. where decisions are formally made in organizations.
B. the degree to which tasks in an organization are divided into separate jobs.
C. the answer to the question of "who reports to whom?" and signifies formal authority relationships.
D. the degree to which rules and procedures are used to standardize behaviors and decisions in an organization.
E. how many employees each manager in the organization has responsibility for.
Answer: A
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a. The materiality of the related balance. b. The volume of transactions affected. c. The subjectivity of the account balance. d. The nature of the client's industry.
Taking a physical count of inventory
A) is not necessary when a periodic inventory system is used B) is a detective control C) has no internal control relevance D) is not necessary when a perpetual inventory system is used
A voucher
A) is received from customers to explain the purpose of a payment B) is normally prepared in the Accounting Department C) system is used to control cash receipts D) system is an internal control procedure to verify that the assets in the ledger are the ones the company owns
Communication is an arrangement that involves working at home or other remote locations and sending and receiving work from a company office electronically
Indicate whether the statement is true or false