Which of the following is an attribute of the internal control procedure—assignment of responsibilities?
A) To validate their accounting records, a company should have an audit by an external accountant.
B) The company should separate the custody of assets from accounting.
C) The external auditors will monitor internal controls.
D) Each position has clearly assigned responsibilities.
D) Each position has clearly assigned responsibilities.
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When converting to a new system, which cutover method is the most conservative?
a. cold turkey cutover b. phased cutover c. parallel operation cutover d. data coupling cutover
When working with a group of kindergarteners it is important to schedule
a. varied activities allowing for time to sit and listen and time for more active experiences. b. mostly individualized activites with little social collaboration. c. long whole-class lessons that require sitting and listening. d. None of the above
Defining each risk by a set of standard parameters including likelihood or probability, severity or impact, detection process, and mitigation plans best defines
A) quantitative risk management. B) qualitative risk management. C) risk probability. D) risk regression.
What type of error occurs if you fail to reject H0 when, in fact, it is not true?
A. Type II B. Type I C. either Type I or Type II, depending on the level of significance D. either Type I or Type II, depending on whether the test is one-tailed or two-tailed