Which of the following is NOT an element of a good control environment?
a. Trust
b. Modeling
c. Appropriate hiring
d. Management's communication
a
FEEDBACK: a. Correct. Regrettably this is not a positive characteristic of the control environment.
b. Incorrect. Examples of management strongly influence employees.
c. Incorrect. Basic screening can help prevent hiring fraudsters.
d. Incorrect. Employees need to receive clear communication from management that fraud will be pro-actively looked for and punished when found.
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The entry to establish a petty cash fund includes:
A. A debit to Cash and a credit to Petty Cash. B. A debit to Petty Cash and a credit to Accounts Receivable. C. A debit to Cash and a credit to Cash Over and Short. D. A debit to Cash and a credit to Petty Cash Over and Short. E. A debit to Petty Cash and a credit to Cash.
Which of the following is a guideline for presenting in front of a group?
A) Identify and present primarily to the main decision-maker. B) Identify the titles and roles of the people who will attend. C) Arrive exactly in time for the presentation. D) Be sure your presentation is characterized by technical depth and detail. E) Be ready to "wing it" on questions the audience might ask.
A quitclaim deed offers the most protection against defects in the title
a. True b. False Indicate whether the statement is true or false
Strategic objectives are what an organization must change or improve to remain or become competitive
a. True b. False Indicate whether the statement is true or false