GoConqr hat ein neues Design! Sag uns, wie es dir gefällt.

Kostenlos registrieren

Quiz

Module 8

Catherine Tumanguil 10 Fragen

Quiz starten

Fragen in diesem Quiz (10)

  1. 11) COSO identified five interrelated components of internal controls. Which of the following is NOT one of those five?
    1. Aa) Risk assessment
    2. Bb) Internal control policies
    3. Cc) Monitoring
    4. Dd) Information and communication
  2. 22) In the ERM model, COSO specified four types of objectives that management must meet to achieve company goals. Which of the following is NOT one of those type?
    1. Aa) Responsibility objectives
    2. Bb) Strategic objectives
    3. Cc) Compliance objectives
    4. Dd) Reporting objectives
    5. Ee) Operations objectives
  3. 33) Which of the following statements is true?
    1. Aa) COSO’s enterprise risk management framework is narrow in scope and is limited to financial controls
    2. Bb) COSO’s internal control integrated framework has been widely accepted as the authority on internal controls
    3. Cc) The Criminal Code has no impact on internal accounting control systems
    4. Dd) It is easier to add controls to an already designed system than to include them during the initial design stage
  4. 44) All other things being equal, which of the following is true?

    1. Aa) Detective controls are superior to preventive controls
    2. Bb) Corrective controls are superior to preventive controls
    3. Cc) Preventive controls are equivalent to detective controls
    4. Dd) Preventive controls are superior to detective controls
  5. 55) Which of the following statements about the control environment is FALSE?
    1. Aa) Management’s attitudes towards internal control and ethical behaviour have little impact on employee beliefs or actions
    2. Bb) An overly complex or unclear organisational structure may be indicative of problems that are more serious
    3. Cc) A written policy and procedures manual is an important tool for assigning authority and responsibility
    4. Dd) Supervision is especially important in organisations that cannot afford elaborate responsibility reporting or are too small to have an adequate separation of duties
  6. 66) To achieve effective separation of duties, certain functions must be separated. Which of the following is the correct listing of the accounting-related functions that must be segregated?
    1. Aa) Control, recording and monitoring
    2. Bb) Authorisation, recording and custody
    3. Cc) Control, custody and authorisation
    4. Dd) Monitoring, recording and planning
  7. 77) Which of the following is NOT an independent check?

    1. Aa) Bank reconciliation
    2. Bb) Periodic comparison of subsidiary ledger totals to control accounts
    3. Cc) trial balance
    4. Dd) re-adding the total of a batch of invoices and comparing it with your first total
  8. 88) Which of the following is a control procedure relating to both the design and use of documents and records?

    1. Aa) Locking blank cheques in a drawer
    2. Bb) Reconciling the bank account
    3. Cc) Sequentially pre-numbering sales invoices
    4. Dd) Comparing actual physical quantities with recorded amounts
  9. 99) Which of the following is the correct order of the risk assessment steps discussed in this chapter?

    1. Aa) Identify threats, estimate risk and exposure, identify controls and estimate costs and benefits
    2. Bb) Identify controls, estimate risk and exposure, identify threats and estimate costs and benefits
    3. Cc) Estimate risk and exposure, identify controls, identify threats and estimate costs and benefits
    4. Dd) Estimate costs and benefits, identify threats, identify controls and estimate costs and benefits
  10. 1010) Your current system is deemed to be 90% reliable. A major threat has been identified with an impact of $3 000 000. Two control procedures exist to deal with the threat. Implementation of control A would cost $100 000 and reduce the likelihood to 6%. Implementation of control B would cost $140 000 and reduce likelihood to 4%. Implementation of both controls would cost $220 000 and reduce the likelihood to 2%. Given data, and based solely on an economic analysis of costs and benefits, what should you do?
    1. Aa) Implement control A only
    2. Bb) Implement control B only
    3. Cc) Implement both controls A and B
    4. Dd) Implement neither control

Informationen

Beschreibung
accounting Quiz am Module 8, erstellt von Catherine Tumanguil am 02/11/2016.
Sprache
English
Aufrufe
0
Schlagwörter
accounting
Bewertung
Noch keine Bewertungen
Bewerte dieses Quiz
Bewerte dieses Quiz

Feedback

Worum geht es?

Wie gefällt dir das neue Design?

Dein Eindruck