An Entity's Control Activities Include All of the Following Except

question 85

Multiple Choice

An entity's control activities include all of the following except:

• A)Performance reviews.
• B)Information processing.
• C)External auditor's tests of controls.
• D)Segregation of duties.

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Definitions:

QBO

Stands for QuickBooks Online, which is an accounting software designed to manage sales, expenses, and keep track of daily business transactions.

Liabilities

Financial obligations or debts owed by a business to outside parties, which must be settled over time through the transfer of economic benefits.

Equity Section

Part of a company's balance sheet that represents the owners' share of the corporation, including retained earnings and issued stock.

Profit & Loss Statement

A financial statement that summarizes the revenues, costs, and expenses incurred during a specified period, typically a fiscal quarter or year.