Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 17, 2024

Which of the following is the most important requirement of internal control? 1)effectiveness and efficiency of operations. 2)reliability of financial reporting. 3)compliance with applicable laws

Which of the following is the most important requirement of internal

control?

1)effectiveness and efficiency of operations.

2)reliability of financial reporting.

3)compliance with applicable laws and regulations.

4)systems and procedures that help to manage risk and achieve objectives.

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

Recommended Textbook for

Managerial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

8th edition

978-1-119-3904, 1119392422, 111939242X, 1119390451, 978-1119392422

More Books

Students also viewed these Accounting questions

Question

★★★★★

An industrial load operates at 30 kW, 0.8 pf lagging. The load voltage is 2200 V rms. The real and reactive power losses in the transmission-line feeder are 1.8 kW and 2.4 kvar,...

Answered: 1 week ago

Question

★★★★★

13-17. Given your answer to question 13-16 and what you read in this chapter of Dessler Human Resource Management, explain specifically what other benefits you would recommend the Hotel Paris...

Answered: 1 week ago

Question

★★★★★

There are two servers available to process n jobs. Initially, each server begins work on a job. Whenever a server completes work on a job, that job leaves the system and the server begins processing...

Answered: 1 week ago

Question

★★★★★

Explain how organizations in the not-for-profit sector differ from organizations in the public sector or for-profit business sector. Provide an example of an entity in each sector.

Answered: 1 week ago

Question

★★★★★

Exercise 19-24 (Algo) New shares; contingently issuable shares [LO19-6,19-12] During 2024. Its first year of operations, Kevin Berry Industries entered into the following transactions relating to...

Answered: 1 week ago

Question

★★★★★

You and the project team are creating a WBS. There are some elements of the WBS that cannot be broken down yet. You and the team decide to break down these items later in the project as more details b

Answered: 1 week ago

Question

★★★★★

The process of characterization is not always a technical, formalistic exercise, confined to the strict legal operation of the impugned law (law under review.) There are times when the Court will...

Answered: 1 week ago

Question

★★★★★

1. Consider a parent population with mean 75 and a standard deviation 7. The population doesn't appear to have extreme skewness or outliers. A. What are the mean and standard deviation of the...

Answered: 1 week ago

Question

★★★★★

Unit 2 FRQ Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional...

Answered: 1 week ago

Question

★★★★★

The performance of a technical device is described by m quality measures fj: R" R, j = 1, ..., m. The smaller their values the better the performance is. The requirements of technical feasibility...

Answered: 1 week ago

Question

★★★★★

(1) Evaluate the sums and products below for a few small values of n. Then make a conjecture about the value of the sum and product for all positive integers n, and prove your conjecture by...

Answered: 1 week ago

Question

★★★★★

Please read the question and leave notes on the answer where appropriate. Please DO NOT skip any steps. Please double check your answer. DO NOT SUBMIT A TYPED RESPONSE . Please use a hand written...

Answered: 1 week ago

Question

★★★★★

6. Think of something that you believe in, without the slightest doubt attached to it. How do you imagine this? Is it verbal, in rumours, in metaphors or the like? The answer says something about how...

Answered: 1 week ago

Question

★★★★★

Do not move closer than an arms distance. (This distance literally applies to Northern Europe. In Southern Europe this distance is slightly smaller.) If you get closer than this distance, you seem...

Answered: 1 week ago

Question

★★★★★

2. Now list, after going through a-c, three things that you want to be the impres-sion you want others to be left with after meeting you, and that you want to be lasting over time. List four points...

Answered: 1 week ago

Previous Question Next Question