Which of the Following Is a Necessary Element in an Accounting

question 50

Multiple Choice

Which of the following is a necessary element in an accounting system? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

• A)Audit review
• B)Internal control
• C)Internal review
• D)Audit control

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Definitions:

Forward Rate

The agreed-upon price for a financial transaction that will occur at a future date, commonly used in foreign exchange and fixed income markets.

Pure Yield Curve

The relationship between yield to maturity and time to maturity for zero-coupon bonds.

Zero-coupon Treasuries

U.S. Treasury securities that are sold at a discount from their face value and do not pay interest before maturity; investors receive the face value at maturity.

Stripped Treasuries

U.S. Treasury securities that have separated their interest and principal payments into two distinct securities, allowing investors to receive either a lump sum at maturity or periodic interest payments.