Listed Below Are Examples of Matters That May Be Reportable

question 36

Multiple Choice

Listed below are examples of matters that may be reportable conditions. Indicate the nature of each event by using the following code letters:
Deficiencies in Internal Control Design
Failures in the Operation of Internal Control
-Intentional misapplication of accounting principles. _____

• A)Failures in the Operation of Internal Control
• B)A system fails to provide complete and accurate output consistent with the

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Definitions:

Cash Over

A situation where the amount of cash on hand is more than the expected amount, indicating a discrepancy in transactions.

Auxiliary Petty Cash Record

A detailed documentation or log used to track petty cash expenses and replenishments separate from the main cash records.

Accounts Receivable Clerk

An employee who manages incoming payments, keeps records of money owed by customers, and ensures accurate and up-to-date accounts receivable.