Question : 11. Which of the following not one of the general internal : 1295524

 

11. Which of the following is not one of the general internal control activities that companies often use? 
A. Safeguarding of assets
B. Transaction authorization
C. Segregation of duties
D. Gaining a competitive advantage over the competition

12. Ideally, segregation of duties requires which duties to be segregated? 
A. Managerial and financial accounting duties
B. Manufacturing and selling and administrative duties
C. Computerized recordkeeping and manual recordkeeping duties
D. Recordkeeping, custody, and authorization duties

13. Which of the following is not an example of an internal control procedure? 
A. Timely bank reconciliations
B. The use of sequentially numbered sales tickets
C. Manager bonuses associated with high levels of sales
D. Bar coding of inventory

14. Which of the following internal controls would not reduce the likelihood of unauthorized data access in a technology-intensive environment? 
A. Keeping computers on 24 hours per day.
B. Using passwords to gain access to sensitive data.
C. Using a firewall to limit access to computer network systems.
D. Moving critical data to a separate server that is not connected to the internet.

15. Which of the following statements is true regarding the impact that information technology has had on internal controls? 
A. It has introduced new risks.
B. It has reduced the likelihood of internal control failure.
C. Internal control procedures that were used before information technology became prevalent no longer need to be followed.
D. It has not altered the way management approaches internal control.

16. Who sets the tone for ethical behavior in an organization? 
A. Internal auditors
B. Audit committee
C. Upper management
D. Stockholders

17. Stakeholder analysis normally includes all of the following steps except: 
A. Understanding the nature of each stakeholder’s interests.
B. Developing strategies to address the demands of stakeholders.
C. Assessing each stakeholder’s power and influence.
D. Assessing the ethical values of each stakeholder.

18. All of the following statements about stakeholder analysis are true except: 
A. Stakeholder analysis can be used by a company to identify how a particular action or decision might affect employees, customers, suppliers, and owners.
B. Stakeholder analysis is a framework for analyzing ethical dilemmas.
C. Stakeholder analysis is a type of financial statement analysis and can be used to analyze company profitability.
D. Stakeholder analysis can be used by a company to determine its responsibility to employees and owners.

19. The portion of a company’s ethics program which lays out specific rules or standards of behavior for various business situations is called: 
A. the mission statement.
B. the corporate philosophy statement.
C. the code of conduct.
D. the articles of incorporation.

20. Where do most companies assert their commitment to key stakeholders? 
A. In their mission statement.
B. In their code of conduct.
C. In their articles of incorporation.
D. In their financial statements.

 

 

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