Which of the following statements about internal control is TRUE?
A) Internal auditors ensure that the employees follow company policies.
B) The treasurer and controller have the same responsibilities.
C) External auditors are employees of the company they audit.
D) The internal control procedures are known as the "tone at the top."
A) Internal auditors ensure that the employees follow company policies.
You might also like to view...
Various techniques are used in the analysis of financial data to emphasize the comparative and relative importance of data presented and to evaluate the position of the firm. These techniques include(s)
a. ratio analysis. b. common-size analysis. c. examination of relative size among firms. d. all of the above. e. none of the above.
A plaintiff in a fraud case must prove the following except:
A) Justifiable reliance. B) Intent to deceive. C) False statement of a material fact. D) Knowledge that the statement is false. E) Discovery of the falsehood within a reasonable time.
A company has prepared the operating budget, the cash budget, and the budgeted income statement and is now preparing the budgeted balance sheet. The balance of Retained Earnings can be taken from the ________
A) inventory, purchases, and cost of goods sold budget B) operating budget C) cash budget D) budgeted income statement and the balance sheet of the previous year
A person licensed to represent others in court is called a(n):
A) attorney B) magistrate C) marshal D)sheriff