Internal Control Over Financial Reporting Includes Each of the Following

question 80

Multiple Choice

Internal control over financial reporting includes each of the following elements except for:

• A)Maintaining accurate financial records
• B)Providing reasonable assurance that receipts and expenditures are recorded based on proper authorization by management
• C)External audit conducted in accordance with generally accepted auditing standards
• D)Providing reasonable assurance that the financial statements are prepared in accordance with generally accepted accounting principles

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Definitions:

Filtered

Processed or sifted through a system or tool to remove unwanted parts or to simplify.

Message

Refers to the content of communication, whether conveyed verbally, written, or through other mediums, intended to be received and understood by others.

Screens

In decision-making and information processing, screens are criteria or filters used to evaluate options or to screen out irrelevant data.

Active Listening

A communication technique involving fully concentrating on the speaker, understanding their message, responding thoughtfully, and remembering the discussion.