Which of the Following Is NOT an Element of Internal

question 55

Multiple Choice

Which of the following is NOT an element of internal control over financial reporting?

• A) Maintaining accurate financial records
• B) Providing reasonable assurance that receipts and expenditures are recorded based on proper authorization by management
• C) Developing a code of conduct and whistle-blowing procedures
• D) Providing reasonable assurance that the financial statements are prepared in accordance with generally accepted accounting principles

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Definitions:

Graduate Program

An advanced level of study pursued after obtaining a bachelor's degree, involving deeper specialization into a subject often leading to a master's or doctoral degree.

GPAs

Grade Point Averages, a numerical calculation that represents the average value of the accumulated final grades earned in courses over time.

Proficiency Test

An examination designed to measure an individual's skill or knowledge level in a particular area or discipline.

Residual Standard Deviation

A measure of the standard deviation of residuals in regression analysis, indicating the typical distance between observed and predicted values.