Which of the Following Is an Advantage of Describing Internal

question 30

Multiple Choice

Which of the following is an advantage of describing internal control through the use of a standardized questionnaire?

• A)Questionnaires highlight weaknesses in the system.
• B)Questionnaires are more flexible than other methods of describing internal control.
• C)Questionnaires usually identify situations in which internal control weaknesses are compensated for by other strengths in the system.
• D)Questionnaires provide a clearer and more specific portrayal of a client's system than other methods of describing internal control.

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Definitions:

Fixed Number

A specific, unchanging quantity or value, often used in contexts requiring precise, constant measurements or counts.

Secured Bonds

Bonds that are backed by collateral, such as real estate or other assets, to reduce the risk of default to investors.

Bond Principal

The face value of a bond, or the amount of money the bond issuer will pay back to the bondholder at maturity.

Serial Bonds

Bonds that are issued under the same contract but mature at different times, allowing the issuer to spread the repayment over several periods.