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Brief Exercise 4-2 Identify terms associated with components of internal control (L04-2) Select the appropriate components of internal control for each of the following descriptions

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Brief Exercise 4-2 Identify terms associated with components of internal control (L04-2) Select the appropriate components of internal control for each of the following descriptions Descriptions Components of Internal Control a. Procedures for maintaining separation of duties b.Routine activities that are meant to continually observe internal control activities c. Transfer of data from lower managers to top executives for accurate financial reporting d. Formal policies to evaluate internal and external threats to achieving company objectives e. Overall attitude of the company with respect to internal controls

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