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1. What is the term for procedures and processes to safeguard assets, process information correctly, and comply with regulations? 2. Does the Sarbanes-Oxley Act require
1. What is the term for procedures and processes to safeguard assets, process information correctly, and comply with regulations? 2. Does the Sarbanes-Oxley Act require companies to report on the effectiveness of their internal controls? 3. What is the term for when an employee deceives an employer for person gain? 4. Are mandatory vacations a control procedure? 5. Are missing documents a sign of possible fraudulent activity? 6. Are money orders considered part of the cash account? 7. When there is a difference between the count of cash in a cash register and the recorded sales, should cash over and short be the account used to record the difference? 8. When the cash over and short account has a debit balance does that mean that cash short? 9. Are outstanding checks subtracted from the bank balance on a bank reconciliation? 10. Is an insufficient funds check subtracted from the book balance on a bank reconciliation
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