Which of the Following Internal Control Tests Would Assist in Satisfying

question 46

Multiple Choice

Which of the following internal control tests would assist in satisfying the occurrence transaction-related audit objective for payroll?

• A)examining payroll records for evidence of approval
• B)proving the payroll bank reconciliation
• C)reviewing the chart of accounts
• D)accounting for a sequence of payroll cheques

Understand the application of the Uniform Commercial Code (UCC) to contracts for the sale of goods.

Know the scope and applicability of the United Nations Convention on Contracts for the International Sales of Goods (CISG).

Differentiate between express, implied, unilateral, and bilateral contracts through examples.

Identify the elements of consideration in contract law and its significance in contract formation.

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Definitions:

Organizational Effectiveness

The degree to which an organization is successful in achieving its goals and objectives through efficient use of resources, adaptability, and fulfilling stakeholder needs.

Effective

Having the desired result or outcome; achieving the intended goal efficiently and successfully.

Surviving

The act of continuing to live or exist, especially in spite of challenging conditions or circumstances.

Tom Burns

A sociologist known for his work in organizational theory, particularly regarding the dynamics of industrial society.