PCA Corporation Maintains Its Fixed Asset Records in an Excel

question 60

Multiple Choice

PCA Corporation maintains its fixed asset records in an Excel spreadsheet, as well as in its general ledger software. An internal auditor for PCA downloaded the Excel spreadsheet, then verified the information in it against both the general ledger software and the actual fixed assets in use. Which of the following statements is most true?

• A)Internal auditors should not be viewed as a form of internal control.
• B)PCA is legally required to follow the CoBIT accountability framework, which includes internal auditors, to meet the information criterion of compliance.
• C)The internal auditor's actions help PCA achieve integrity in its information.
• D)Information about fixed assets is confidential; the internal auditor's actions conflict with the information criterion of confidentiality.

Understand the existential perspective on individual existence and experience.

Analyze the impact of psychotherapy on self-perception and psychological adjustment.

Recognize the integration of existentialist assumptions with humanistic psychology views.

Identify the contributions of major existentialist thinkers and differentiate them from non-existentialists.

---

Definitions:

Income

Income earned, particularly when it's consistent, from work or investment returns.

Efficient Allocation

An economic condition where resources are distributed in a way that maximizes the welfare of society, ensuring that every good or service is produced up to the point where the last unit provides a benefit equal to the cost of producing it.

Risk

Uncertainty about future outcomes.

Risk-Averse

A description of an individual or organization that prefers to avoid uncertainty and is willing to sacrifice some potential gain to avoid risk.