Which of the Following Internal Controls Would an Entity Most

question 337

Multiple Choice

Which of the following internal controls would an entity most likely use to assist in satisfying the completeness assertion related to long-term investments?

• A) Senior management verifies that securities in the bank safe deposit box are registered in the entity's name.
• B) The internal auditor compares the securities in the bank safe deposit box with recorded investments.
• C) The treasurer vouches the acquisition of securities by comparing brokers' advices with canceled checks.
• D) The controller compares the current market prices of recorded investments with the brokers' advices on file.

---

Definitions:

Export

The act of sending goods or services from one country to be sold or traded in another.

Westward Migration

The movement of people westward across the United States, particularly notable during the 19th century, often for the purpose of land acquisition and settlement.

Plantation Economy

An economic system historically associated with the large-scale agricultural estates that specialized in cash crops, reliant on slave or cheap labor, primarily found in the Americas.

Alabama

A state located in the southeastern region of the United States, known for its rich history in civil rights and its diverse geographical features.