Match Seven of the Terms (A-I)with the Definitions Provided Below

question 24

Short Answer

Match seven of the terms (a-i)with the definitions provided below (1-7):
a.Control environment
b.Control activities
c.Independent checks on performance
d.Internal control
e.Monitoring
f.Separation of duties
g.General authorization
h.Specific authorization
i.Risk assessment
________ 1.Management's ongoing and periodic assessment of the quality of internal control performance to determine that controls are operating as intended and are modified when needed.
________ 2.Company-wide policies for the approval of all transactions within stated limits.
________ 3.The actions,policies,and procedures that reflect the overall attitudes of top management,directors,and owners of an entity about internal control and its importance to the entity.
________ 4.Segregation of the following activities in an organization:
custody of assets,accounting,authorization,and operational responsibility.
________ 5.Management's identification and analysis of risks relevant to the preparation of financial statements in accordance with an applicable accounting framework.
________ 6.Policies and procedures that help ensure that necessary actions are taken to address risks in the achievement of the entity's objectives.
________ 7.A process designed to provide reasonable assurance regarding the achievement of management's objectives in the following categories:
(1)reliability of financial reporting,(2)effectiveness and efficiency of operations,and (3)compliance with applicable laws and regulations.

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Definitions:

Objective Questionnaires

Surveys or assessments designed to measure specific aspects of an individual's behavior, attitudes, or personality without subjective judgment from the researcher.

Idiosyncratic Phobias

Uncommon fears that are specific to individuals and not typically found in the general population.

Triskaidekaphobia

The fear of the number thirteen, often associated with superstition or cultural beliefs.

Cultural Traditions

The shared beliefs, practices, norms, values, and objects that are passed down within a society from generation to generation, shaping the identity and behavior of its members.