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Quiz

accounting test

Mark Caballero 9 Fragen

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Fragen in diesem Quiz (9)

  1. 1internal control systems use to do what?
    1. Aprotect assets,ensure,reliable accounting, promote efficient operations, and urge adherence to company policies
    2. Bprotect assets,monetary, reliable acounting
    3. Cprotect assets,ensure,reliable accounting, promote efficient operations, and security of the company
  2. 2The Sarbanes-Oxley Act (SOX) requires the managers and auditors of companies whose stock is traded on an exchange (called public companies) to document and certify the system of internal controls
    1. ARichtig
    2. BFalsch
  3. 3which of the four choices is requirements of the Sarbanes-Oxley Act (SOX)?
    1. AAuditors must evaluate internal controls and issue an internal control report.
    2. BAuditors of a client are restricted as to what consulting services they can provide that client.
    3. CThe person leading an audit can serve no more than seven years without a two-year break.
    4. DAuditors' work is overseen by the Public Company Accounting Oversight Board (PCAOB)
    5. EHarsh penalties exist for violators—sentences up to 25 years in prison with severe fines
    6. FPunish higher level executives for their misconducts within the business.
  4. 4The principles of internal control are?
    1. AEstablish responsibilities.
    2. BMaintain adequate records
    3. CInsure assets and bond key employees
    4. DSeparate recordkeeping from custody of assets
    5. EDivide responsibility for related transactions
    6. FApply technological controls
    7. GPerform regular and independent reviews
    8. HHave higher internal security
  5. 5Five aspects of internal control?
    1. Acontrol activities
    2. Bcontrol environment
    3. Crisk assessment
    4. Dmonitoring
    5. Ecommunication
    6. FSecurity
  6. 6Establishing Responsibilities to one person is a bad idea due to it being harder to find who is responsible when a problem arises.
    1. ARichtig
    2. BFalsch
  7. 7Maintain Adequate Records can help protect assets and ensure employees prescribe procedures. As well as allow managers to monitor company activities.
    1. ARichtig
    2. BFalsch
  8. 8Bonding assets increases theft within a company.
    1. ARichtig
    2. BFalsch
  9. 9If a person controls or access assets what should happen?
    1. AThey should not be allowed to do the accounting records for it. It also doesnt give them a reason to falsify or collude if they dont have access to the assets.
    2. BThey should be allowed to do the accounting records to reduce time when doing the record keeping.

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Beschreibung
Accounting Quiz am accounting test, erstellt von Mark Caballero am 26/10/2016.
Sprache
English
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1
Schlagwörter
accounting
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