= three types of controla

Q: What is undercosting? Explain? Give three examples?

A: Under Costing: Under costing is a state in which the estimated or reported cost of a product is less…

Q: six prjinciplesj of control actjivities

A: Internal controls are the set of control procedures implemented within the organization to act as a…

Q: Explain the Activity Hierarchies with example?

A: Activity hierarchy is a system that is used in the activity based account to keep track on the…

Q: What are the four broad objectives of internal control?

A:

Q: What are the five control implications of distributed data processing?

A:

Q: Describe two generic strategies.

A: Strategy: The word strategy may also be regarded as generalship. It may be defined as the…

Q: What is overcosting? Explain? Give three examples?

A: Over Costing: Over costing is a state in which the estimated or reported cost of a product is more…

Q: What are five common internal control principles?

A: Controlling is one of the main managerial functions of any organisation. Managerial functions are…

Q: What are the four modifying assumptions that guide designers and auditors of internal control…

A:

Q: “As a practical matter, planning and control mean exactly the same thing.” Do you agree? Explain.

A: Introduction:   Planning and controlling are two sides of the coin. Planning is the first step of…

Q: What are the five components of Internal Control?

A: Five components of internal control are: Control environment - It refers to top management attitude…

Q: Explain the three authorized controls

A:

Q: Define each of the following terms: c. Signaling hypothesis; clientele effect

A: To define the following terms signalling hypothesis and clientele effect as below,

Q: Distinguish between an activity’s trigger and its root cause. Give an example of each.

A:

Q: Define each of the following terms:f. White knight; proxy fight

A: A white knight is hostile acquisition security by which a 'friendliness' person or business who…

Q: Differentiate between general and application controls. Give two examples of each.

A: Internal Controls:   Internal controls are the controls established within an organization to check…

Q: Define Contingencies.

A: Uncertain events refer to uncertainty regarding the occurrence of an event or the data values…

Q: a.Determine two-sigma control limits using the above data. (F

A: A c-chart helps to monitor the defects that occurred in the process. It helps companies to determine…

Q: What are the three authorization controls?

A: In accounting and auditing, the term internal control indicates to a set of measures intended to…

Q: What are the five components of internal control? Briefly explain each component?

A: The components of internal controls are explained below :

Q: What are the 3 objectives of Internal Control?

A: Internal controls:                            It is a set of rules, policies and procedures adopted…

Q: Controls are classified as general as well as application. Discuss, using appropriate examples, any…

A: Internal Controls: Internal controls are the safeguards put in place within an organization to…

Q: Control is the process that includes the following except:

A: Control is checking current performance against pre-determined standards contained in the plans,…

Q: What is CVP analysis? Give three examples?

A: CVP Analysis:CVP analysis establishes the relation between cost, volume and profit of the company.…

Q: What are the three steps of controlling?

A: Introduction: Controlling is referred as terminal management function because it takes place after…

Q: List the four major categories of general controls, and Identify the objectives of each.

A: General controls refer to the information system activities to be applied in the whole…

Q: What is the three-step process of controlling?

A: Introduction: Controlling is referred as terminal management function because it takes place after…

Q: Describe three criteria you would use to evaluate whether a management control system is effective

A: Management control system:

Q: List the three parts of a control system, and explain how such a system works.

A: Variance: Variance refers to the difference level in the actual cost incurred and standard cost. The…

Q: Differentiate management control from joint control.

A: Control refers to the authority to make important decisions and rule other important activities of…

Q: What are the five control objectives of an operating system?

A:

Q: What are the components of the Control Environment?

A: Control environment refers to the set of policies, processes, standards, and actions of top-level…

Q: What is management by exception? Give three examples?

A: Management by Exception: Management by exception is the process of finding the deviations in the…

Q: Explain the objectives of FIFO method.

A: First-in-First-Out: In First-in-First-Out method, the costs of the initially purchased items are…

Q: Define Direct method

A: The Direct Method is Described Below -

Q: What are the three primary CBIS functions that must be separated?

A:

Q: What are the three internal control objectives?

A: Internal control:  Internal control consists of policies and procedures to  achieve the objectives,…

Q: Give three examples of application controls.

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: 2. What are the four purposes of internal control?

A: Internal Control: It  consists of all the methods and procedures adopted to assist in achieving the…

Q: True or false The definition of Control is under the PFRS 3 standard.

A: As per accounting standard PFRS 3 /PFRS 10 Following is answer

Q: What are the five components of an internal control system?

A: An internal control system is referred to as a set of rules, guidelines, and policies that are…

Q: Describe some common examples of Control Activities.

A: Control activities: Control activities are more concerned about the protection of the resources of…