Which of the following is an objective of internal control?
A) to encourage employees to follow company policies
B) to ensure timely payment of accounts payable
C) to ensure timely collection of accounts receivable
D) to guarantee that a business makes a profit
A) to encourage employees to follow company policies
You might also like to view...
An unsolicited distribution of credit cards to persons who have not applied for them is: A) always allowed
B) voidable. C) illegal. D) only allowed if the recipient is at least 21 years old.
In a flexible budget, when the activity declines, the total variable cost also declines.
Answer the following statement true (T) or false (F)
Which of the following statements is not true about a public offering?
a. The issuer files a registration statement with the SEC. b. The issuer files a prospectus with the SEC. c. Company officers may make public statements about the offering before the stock is sold. d. Company officers may make public statements about the offering after the stock is sold. e. The issuer may solicit offers for the stock before the effective date.
A client imposed scope limitation relating to the audit of internal control ordinarily results in a qualified report.
Answer the following statement true (T) or false (F)