Match the Following Elements of Internal Control

question 167

Multiple Choice

Match the following elements of internal control:
-control procedures

• A)provides reasonable assurance that business goals will be achieved
• B)used by management for guiding operations and ensuring compliance with requirements
• C)overall attitude of management and employees
• D)used to locate weaknesses and improve controls
• E)identify, analyze and assess likeliness of vulnerabilities

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Definitions:

Salary Cap

A limit on the amount of money that a sports team can spend on player salaries, usually imposed by the league to maintain competitive balance.

Stock-price Response

The reaction of a company's stock price to financial news, market events, or unanticipated occurrences affecting the business.

Corporate Dividend

Payments made by a corporation to its shareholders out of the company's profits or reserves.

Earnings Announcements

A public statement released by a company detailing its profits, losses, and financial performance for a specific period.