Which Statement Is True Concerning the Documentation of Internal Control

question 43

Multiple Choice

Which statement is true concerning the documentation of internal control?

• A) Documentation should be sufficient to support the design and operating effectiveness of internal controls.
• B) Documentation requirements are standardized by the PCAOB.
• C) Documentation of disbursements require paper and electronic documentation.
• D) Documentation of all transaction controls should be tested on an annual basis.

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Definitions:

Alexander Kerensky

A key political leader during the Russian Provisional Government of 1917, who played a significant role in the events leading up to the Bolshevik Revolution.

Provisional Government

A provisional government is a temporary government established to manage a political transition, generally in the cases of new nations or after the collapse of the previous governing regime.

Vladimir Lenin

A Russian revolutionary leader and communist theorist who was the founder of the Russian Communist Party, leader of the Bolshevik Revolution in 1917, and the architect and first head of the Soviet state.

April Theses

A series of directives issued by Lenin in April 1917, which called for the overthrow of the provisional government and the establishment of a proletarian government.