Answered: not a part of administrative control

Business

Accounting

not a part of administrative control

Accounting Information Systems

11th Edition

ISBN:9781337552127

Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Publisher:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Chapter12: The Purchasing Process

Section: Chapter Questions

Problem 16RQ: Describe the impact that entity-level controls (i.e., control environment, pervasive controls, and...

See similar textbooks

Related questions

Q: s1: An adequate internal control ensures the substantial accuracy of various managerial reports,…

A: Ans. An internal control policies makes sure that the sufficient level of accuracy is maintained. It…

Q: Problem 7: Auditing Sales/Revenue Transactions When an auditor needs to obtain an understanding of…

A: Existence & Occurrence: It means that there is an existence of Assets and liabilities at a given…

Q: GAAP framework

A: organizations use the GAAP framework of internal control as a benchmark when assessing the…

Q: From the alternatives given below identify which one is not the objective of Internal Control…

A: Internal control: Internal control is the process which is implemented by the company to protect…

Q: Analyze the following:

A: Financial statements are the statements of the business, that cover every aspect of the business and…

Q: om the following alternatives, identify which one is not a part of accounting control? a.…

A: Accounting controls: Accounting controls consists of the methods and procedures that are…

Q: Question 5 What is the purpose of tests of control? Select an answer and submit. For keyboard…

A: Auditing is the investigation, inspection, or examination of the financial statements of an…

Q: internal auditor is more likely to be concerned with

A: External auditor is auditor appointed by organizations to report on the truthiness and fairness of…

Q: 4. Evaluating the performance of a segment of the company is an example of a. planning. b. control.…

A: Performance of segment is evaluation of operating result of segment.

Q: 64) budgeting and external audits are examples of what kind of controls? A) Strategic controls b)…

A: The question is related to Financial Control. Financial controls are those controls by which an…

Q: Quèstion 1 Which statement is correct concerning the definition of internal control developed by the…

A: SOLUTION- INTERNAL CONTROL MEANS BY WHICH AN ORGANIZATION'S RESOURCES ARE DIRECTED , MONITORED AND…

Q: From the alternatives given below identify which one is not the objective of Internal Control…

A: The basic role of internal control is to serve as an appraisal…

Q: What are the collective procedures implemented by management to ensure that business activities are…

A: Dear student as per Bartleby answering guideline we can answer the only first independent question…

Q: Question 1 (i) Operational controls are designed to prevent failures in operational procedures…

A: ANSWERS HAVE BEEN GIVEN IN THE NEXT SHEET

Q: 4. SEGREGATION OF DUTIES Explain why each of the following combinations of tasks should or should…

A: Ethics: Ethics can be defined as a conduct adopted by an individual in making the selection between…

Q: A transaction level internal control activity is best described as: An action taken by…

A: A transaction-level internal control activity can be labeled as action taken by customer personnel…

Q: Opinions on the effectiveness of the internal control system and the fairness of the amounts…

A: The internal control system is implemented in the company to ensure efficiency and effectiveness in…

Q: Internal Audit

A: Management accountant heavily depends on internal financial controls like_______ to plug loopholes…

Q: 3. Which of the following is NOT part of the control activities applicable to Financial Statement…

A: Solution Concept Financial statement audit During the audit of the financial…

Q: It is not an objective of accounting control Develop operational efficiency resource protection las…

A: The answer for the multiple choice question and relevant explanation are presented hereunder :…

Q: Question 1 (i) Which of the following is not an example of internal control risk? A. Risks of…

A: Answers have been given in the next sheet.

Q: An audit team's responsibility would not include: Documentation of understanding of a client's…

A: A audit team responsibility regarding internal controls of a client mainly includes understanding…

Q: system of supervision and control

A: Option a is wrong because internal check is the test to verify the given item or procedure. It is…

Q: Which of the following statements regarding types of operational audits is false? Group of answer…

A: Characteristics of operational audit includes :- Special operational auditing assignments arise at…

Q: When completing the audit of internal controls for a public company, AS 2201 requires auditors to…

A: Internal Control: Internal control is a mechanism or procedure that the company implements so that…

Q: Procedures that can be used in obtaining a sufficient understanding of Internal Control include the…

A: Auditing is a process in which an auditor checks the financial statements of the company whether the…

Q: Which of the following control objectives in the General Ledger activities under the…

A: Following are the options in which extensive audit procedures are required due to regulations: If…

Q: Q21 The Conceptual Framework_________. Select one: a. does not define standards for any particular…

A: Introduction:- The Conceptual Framework deals with all of the following as follows under:- The…

Q: {Auditing} 34. Internal Control goes beyond accounting function and incorporates both accounting and…

A: Internal control is the function of ensuring the integrity of the financial statements. It is done…

Q: Section 404(a) of the Sarbanes–Oxley Act requires management toissue a report on internal control…

Q: .Which of the following control objectives in the General Ledger activities under the…

A: Answer: There are control objectives for General ledger activities under record to report process.

Q: 1. The assessed level of control risk can be expressed in quantitative or non-quantitative terms.…

A: $1. The assessed level of control risk can be expressed in quantitative or non-quantitative terms.…

Q: true about operational auditing

A: First option is false because operational audit is a type of audit of internal controls and…

Question

Internal Control goes beyond accounting function and incorporates both accounting and administrative control. From the following alternatives identify which one is not a part of administrative control?

Self-balancing ledger

Motion Studies

Quality control

Time studies

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Evaluation of options

VIEW

Answer

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Refer to Exhibit 3.10 and Exhibit 3.11. Describe management’s process for evaluating internal control over financial reporting. For the control environment principles, identify evidence that management might obtain to assess the operating effectiveness of the control environment.
Describe the impact that entity-level controls (i.e., control environment, pervasive controls, and general/IT general controls) can have on the effectiveness of purchasing business process controls.
{Auditing} 34. Internal Control goes beyond accounting function and incorporates both accounting and administrative control. From the following alternatives identify which one is not a part of administrative control? a. Quality control b. Time studies c. Motion Studies d. Self-balancing ledger
39 Internal control goes beyond accounting function and incorporates both accounting and administrative control. From the following alternatives, identify which one is not a part of accounting control? a. Performance appraisal b. Internal check c. Standard Costing d. Bank Reconciliation
10. The basic components of an organization's internal control are: Select one:a. (Accounting) information and communication, risk assessment and monitoring.b. Control environment, risk assessment, control activities and management participationc. Control environment, risk assessment, reporting and control activitiesd. Control environment, risk assessment, control activities. (Accounting) information and Communication and monitoring
Multiple-Choice Questions 5. Which type of control is considered a compensating control?a. segregation of dutiesb. access controlc. supervisiond. accounting records
17/Which of the following statement is correct? while comparing between management accounting and financial accounting. a. None of the options b. Management accounting is based on double entry system c. Financial accounting is for internal users and follows restrictive rules and regulations. d. Managerial accounting is for external users (managers) who plan, control, and make decisions.
Which one of the following is not included in the control environment? Question 17Answer a. Organizational Structure b. Integrity & Ethical values c. Competence of Personnel d. External Auditor
s1: An adequate internal control ensures the substantial accuracy of various managerial reports, financial and statistical in nature. s2: A system of internal control extends beyond those matters which relate directly to the functions of the accounting and financial departments. s3: Safeguarding the assets of the company Is the primary objective of internal control. A. all statements are true B. all statements are false C. S1 and S2 are true D. S1 and S3 are true
Which of the following is desirable in a good system of internal accounting controls? Select one: O O O a. Develop plans and budgets b. Encourage employee collusion c. Maintain adequate accounting records d. Two of the above e. None of the above
21. Which of the following control objectives in the General Ledger activities under the Record-to-Report process is least likely to have more extensive audit procedures for a business in an industry with fewer regulations? Group of answer choices To ensure that the accounting data is capable of meaningful and accurate analysis to support management decisions and actions. To ensure that the accounting information can be used to generate all the required statutory published accounting statements. To ensure that the general ledger and management accounts are accurate, reliable, and appropriately reflect the structure and operations of the organization. To ensure that the accounting records are maintained in accordance with the prevailing laws, regulations, and professional good practice.
14. Opinions on the effectiveness of the internal control system and the fairness of the amounts reported in the financial statements are defined as: Select one: a. Management Assessments b. Assurance Opinions. c. Notes to the Financial Statements d. Management Discussion and Analysis.