Which of the Following Internal Controls Over Notes Payable Address

question 28

Multiple Choice

Which of the following internal controls over notes payable address risks associated with the accuracy,allocation,and completeness audit assertions?

• A)Renewals or new notes should be approved by the board of directors (as evidenced in the minutes)or by senior management.
• B)Authorized employees should perform independent recalculations of interest and reconciliation of the notes payable balance to the general ledger.
• C)Subsidiary records should be maintained for each note and there should be control over blank and paid notes.
• D)Paid notes should be cancelled and retained under the custody of an authorized official.

Understand the basics and significance of genetic engineering in studying human conditions.

Grasp the concept of phenotypic plasticity and its impact on organisms.

Identify and describe various types of genetic engineering.

Differentiate between dominant and recessive genes.

---

Definitions:

Showroom

A space used to display products or goods for sale, particularly in the context of vehicles, furniture, appliances, and fashion, allowing customers to view and examine items before purchasing.

Automobile Shoppers

Individuals or entities actively seeking to purchase vehicles, often comparing various models, prices, and features to find the best deal.

Cookies

Small data files stored on a user's computer by a web browser, used to personalize web experiences and track online behavior for targeted advertising.

Online Buying

The process of purchasing goods or services over the Internet, which allows consumers to buy from a wide range of products without geographical limitations.