Answered step by step
Verified Expert Solution
Question
1 Approved Answer
which of the following is an example of a preventative control in a company? Knowledge Check 01 Which of the following is an example of
which of the following is an example of a preventative control in a company?
Knowledge Check 01 Which of the following is an example of a preventive control in a company? Multiple Choice The management evaluates the overall performance by comparing sales for the current year with sales for the previous year. Employees responsible for making cash disbursements are not in charge of cash receipts Management periodically determines whether the amount of physical assets of the company match the accounting records. Actual performance of individuals are routinely checked against their expected performance. Required information [The following information applies to the questions displayed below.) Internal control refers to a company's plan to improve the accuracy and reliability of accounting information and safeguard the company's assets. Five key components to an internal control system are (1) control environment, (2) risk assessment, (3) control activities. (4) monitoring, and (5) Information and communication Control activities include those designed to prevent or detect fraudulent or erroneous behavior Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started