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ACC Exam 3 Questions With Correct Answers
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ACC Exam 3 Questions With Correct Answers
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ACC Exam 3 Questions With CorrectAnswers
3.) cglobally c- ccorrect canswers✔✔the cprinciples cof cinternal ccontrol cactivities care
cused
1.) cin cthe cU.S. cbut cnot cglobally
2.) cinternationally cbut cnot cin cthe cU.S.
3.) cglobally
4.) cin cthe cU.S. cand cCanada cbut cnot cglobally
3.) cU.S. ccompanies cbut cnot cinternational ccompanies c- ccorrect canswers✔✔The
cSarbanes cOxley cAct capplies cto
1.) cU.S. cand cinternational ccompanies
2.) cInternational ccompanies cbut cnot cU.S. ccompanies
3.) cU.S. ccompanies cbut cnot cinternational ccompanies
4.) cU.S. cand cCanadian ccompanies cbut cnot cother cinternational ccompanies
4.) crules-based c- ccorrect canswers✔✔GAAP ccompared cto cIFRS, ctends cto cbe cmore
1.) cprinciples cbased
2.) csimple cin caccounting crequirements
3.) csimple cin cdisclosure crequirements
4.) crules-based
2.) cEnsure cfairness cof cthe cfinancial cstatements c- ccorrect canswers✔✔Which cone cof
cthe cfollowing cis cNOT can cobjective cof ca csystem cof cinternal ccontrols
1.) cEnsure ccompliance cwith claws cand cregulations
2.) cEnsure cfairness cof cthe cfinancial cstatements
3.) csafeguard ccompany cassets
4.) cenhance cthe caccuracy cand creliability cof caccounting crecords
4.) csegregation cof cduties c- ccorrect canswers✔✔which cone cof cthe cfollowing cis ca
cprinciple cof cinternal ccontrol cthat crequires cthat cdifferent cindividuals cshould cbe
cresponsible cfor crelated cactivities
1.) cDocumentation cprocedures
2.) cEstablishment cof cresponsibility
3.) cmanagement cresponsibility
4.) csegregation cof cduties
, 4.) call cof cthese canswers care ccorrect c- ccorrect canswers✔✔Internal ccontrols care
cdesigned cto csafeguard cassets cfrom
1.) cemployee ctheft
2.) crobbery
3.) cunauthorized cuse
4.) call cof cthese canswers care ccorrect
1.) cinsistence cthat cemployees cnot ctake cearned cvacations c- ccorrect canswers✔✔A
ctraditional cdefinition cof cinternal ccontrol cspecifically cincludes call cof cthe cfollowing
cfeatures cexcept
1.) cinsistence cthat cemployees cnot ctake cearned cvacations
2.) creliability cof caccounting cdata
3.) censure ccompliance cwith claws cand cregulations
4.) cpromotion cof coperational cefficiency
1.) cordering, creceiving, cpaying c- ccorrect canswers✔✔Related cpurchasing cactivities
cinclude
1.) cordering, creceiving, cpaying
2.) cordering, cshipping, cbilling
3.) cordering, cselling, cpaying
4.) cselling, cshipping, cpaying
4.) cinternal cauditors c- ccorrect canswers✔✔In clarge ccompanies, cthe cindependent
cinternal cverification cprocedure cis coften cassigned cto
1.) coutside cCPAs
2.) ccomputer coperators
3.) cmanagement
4.) cinternal cauditors
4.) cgetting cthe cowner cactively cinvolved c- ccorrect canswers✔✔In ca csmall cbusiness,
cthe clack cof ccertain cseparations cof cduties ccan cbest cbe covercome cby
1.) chiring conly chonest cemployees
2.) cholding cone cperson cresponsible cfor ca cgiven cset cof ctransactions
3.) cbonding cthe cemployees
4.) cgetting cthe cowner cactively cinvolved
2.) care cin cplace cto csafeguard cassets c- ccorrect canswers✔✔Internal ccontrol
cmeasures
1.) conly capply cto cpublicly ctraded ccompanies
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