An Advantage of Using Systems Flowcharts to Document Information About

question 67

Multiple Choice

An advantage of using systems flowcharts to document information about internal control instead of using internal control questionnaires is that systems flowcharts:

• A)identify internal control weaknesses more prominently.
• B)provide a visual depiction of clients' activities.
• C)indicate whether controls are operating effectively.
• D)reduce the need to observe clients' employees performing routine tasks.

---

Definitions:

Cumulative Profit

The total amount of profit or loss generated over a specific period of time, taking into account all revenues and expenses up to that point.

Probability

A statistical measure representing the chance or likelihood that a particular event will happen, expressed as a fraction or percentage.

NPV Value

Net Present Value, a calculation used in finance to determine the value of a series of future cash flows projected to be received or paid, adjusted for the time value of money.

Probability

A scale from 0 to 1 used to quantify the likelihood of an event's occurrence.