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:

Self-presentation

The process of controlling how one is perceived by others, often by adjusting behavior or appearance to create a desired impression.

Cognitive Matching

A process by which individuals pair new information with existing cognitive schemas to make sense of the world.

Behavioral Confirmation

A social psychological phenomenon where an individual's behavior aligns with the expectations of others, thus confirming those expectations.

Systematic Pattern

An arrangement or sequence of actions, behaviors, or occurrences that follow a predictable and organized structure.