Mangime CASA 1 Question 1 1 points The oration de retortor that provide management with a bus to whate controns not only over financial reporting, but also over the efectes de rency of operator dance with cows and O for Corrupt Practices Corporation Come of poncowongations @ CCCS Acc Standards Board Movirus to another question will save the response Festion 2 Which statement is correct concerning the definition of internal control developed by the Committee of Sponsoring Organizations (COSOY? A is applicability is largely limited to internal auditing applications. It is recognized in the Statements on Auditing Standards C. It emphasizes the effectiveness and efficiency of operations over the reliability of financial reporting D. I suggests that it is important to view internal control as an end product as contrasted to a process or means to obtain an end. Question 3 Which of the following is not considered one of the five major components of internal control? A Risk assessment. @ B. Segregation of duties C Control activities, D. Monitoring Question 4 Which of the following is most likely to be considered a risk assessment procedure relating to internal control? A Confirm accounts receivable El Perform a rest of a control relating to payroll. Take test counts of the year end inventory. D. Trace a transaction through the information system relevant to financial reporting