Does the control, as currently designed, include steps involved in identifying, investigating, and resolving deviations?
Yes ______ No _______ Please briefly explain your answer.
Yes. The control describes how deviations are identified (e.g., >2% difference from two-year average, or
other unusual balances/transactions) and investigated/resolved (per discussion with AR clerk and
Controller). It also specifically states that management considers external factors.
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Article I of the Constitution created the:
A) judicial branch of government. B) legislative branch of government. C) executive branch of government. D) Due Process Clause.
Which of the following statements is true with regards to financial statement audits?
A. Auditors will not disclose information that they have acquired as a result of their accountant-client relationship. B. The auditors guarantee that the financial statements are accurate and correct. C. Auditors provide reasonable assurance that statements are free from material misstatements, whether caused by errors or fraud. D. Financial audits are directed toward the discovery of fraud.
According to the information provided in Table 12-1, what is the average time spent by a person in this system?
A) 0.058 minute B) 1.646 minutes C) 0.521 minute D) 0.183 minute E) None of the above
Day-to-day management is the responsibility of the
a. officers. b. directors. c. stockholders. d. incorporators.