Which of the Following Controls Can Minimize the Threat of Inaccurate

question 76

Multiple Choice

Which of the following controls can minimize the threat of inaccurate financial statements?

• A)Training and experience in applying IFRS and XBRL.
• B)Responsibility accounting.
• C)Backup and disaster recovery procedures.
• D)Restriction of access to general ledger.

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Definitions:

Required Return

The return a investor expects to earn on an investment, taking into account the risk associated with it.

Selling

The act of offering goods or services in exchange for money or other compensation.

Dividend

A portion of a company's earnings distributed to shareholders as a return on their investment.

Constant

An unchanging value in an equation or model, or a fixed value that does not vary over time.