You are expected to do some pre-reading and self study (text books and internet research) before attempt the following questions ( in 2 power point slides)

a. Explain the differences between, with examples, preventive, detective and corrective controls (slide A)

b. For what reasons an entity can tolerate some exposures. (slide A)

c. Given: Sales $100. Required: in Slide B illustrate with assumptions what

i. journal entries,

ii. accounting treatments and

iii. documents are involved

before reaching PL and/or BS